Selling water in a can appears to be working for Liquid Death, a three-year old environmentally conscious startup that just secured another funding round of $70 million.
The Santa Monica-based company, whose motto is “Death to Plastic” was co-founded by Mike Cessario, chief executive officer and a former Netflix
NFLX,
creative director. Liquid Death, which aims to offer a fun, nonpolluting alternative to plastic bottles, alongside a healthy beverage, is now worth $700 million, according to Bloomberg.
Investors in the latest funding round, completed Oct. 3 according to Crunchbase data, include Science Ventures, Live Nation Entertainment Inc.
LYV,
music supergroup Swedish House Mafia and comedian Whitney Cummings. The company is set to bring in $130 million in revenue this year, from $45 million in 2021, Bloomberg said.
It also sells merchandise, with the drinks offered at concerts and sold at retailers such as Target
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and on Amazon.com
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Liquid Death claims on its website that its still and sparkling water, sold in 16.9 inch “infinitely recyclable” cans with limited edition artwork on the bottom of each case, is sourced from the Austrian Alps. It donates a portion of each can sold to help eliminate plastic pollution, noting on its website that 75% of all the aluminum produced since 1888 is still in current use.
In 2020, the company also released an album “Greatest Hates,” using negative social media comments for lyrics, including such songs as “Reconsider your life choices,” and “Fire your marketing guy.” A second album is now available. On Instagram, Liquid Death has 1.3 million followers.
Its edgy marketing campaigns have included drawing blood from surfer Tony Hawk to use in the design of now sold-out skateboards and eco-friendly campaigns from adult film start Cherie DeVille, as well as sending a witch to the most recent Super Bowl LVI to influence the game in the favor of the company’s $50,000 underdog bet.
