Canned water company Liquid Death just passed a $700 million valuation after a new funding round on Monday.
Liquid Death began as a startup in 2019 and has seen massive growth in the last few years. Board member Peter Pham has even suggested that the drink is “the fastest growing non-alcoholic beverage of all time.”
Pham justified the bold claim by pointing to research that indicated “it took Monster four years and Celsius 12 years to reach the level of retail success Liquid Death has had in just three. Liquid Death is projecting $130M in revenue in 2022, up from $45M in 2021 and is on pace to double next year.”
Liquid Death is “moving people toward healthier and sustainable drinking options, not by preaching to them, but by entertaining them and making them a part of something bigger in culture,” Pham said.
The marketing aspect of Liquid Death certainly plays a significant role in its popularity. The cans are emblazoned with a dripping skull that looks like something you’d see on the album cover for a rock band in the 80s. Even their tagline, “murder your thirst,” sets them apart from other water brands on the market today.
The marketing strategy appears to have had the desired effect, according to observers.
“Most of the Twitter influencers have defined this non-alcoholic beverage brand as one of the fastest growing and appreciated its eco-friendly strategy which can disrupt the non-alcoholic beverage market,” wrote Smitarani Tripathy, social media analyst at GlobalData commented.
Pham noted, “Liquid Death is [the] #1 most followed beverage brand on TikTok in the U.S., and their content has earned more than 21 billion media impressions in the past year.”
At present, Liquid Death is sold in retail chains such as Target, Whole Foods and convenience stores like 7-Eleven. It was also the water sponsor for this year’s Lollapalooza music festival in Grant Park and has been seen at multiple other music festivals and concerts as well.
