Sharks Passed, Pepsi Paid Billions

Plus: The Wolf of Wall Street is coming to...Disney?

Author

Jordan Belfort
March 26, 2025

👋 Thirsty for success? You might want to take notes from the Ellsworths, who turned an apple cider vinegar concoction that made Shark Tank investors grimace into a $1.9B Pepsi acquisition. Sometimes the sourest pitch leads to the sweetest deal.

In this edition:

  • Poppi’s billion-dollar exit

  • Partnerships, first

  • Your dream collaborator

Read time: 4 minutes | 870 words

STORY 

🍹 Poppi: 25% Stake, Billion-Dollar Exit

"Beverage is savage." - Rohan Oza

Let's talk about the husband-and-wife duo who just pulled off one of the greatest entrepreneurial success stories in Shark Tank history. It's 2025, and while most founders dream of seven-figure exits, these kitchen entrepreneurs just cashed out for nearly TWO BILLION DOLLARS from PepsiCo.

Back in 2018, Stephen and Allison Ellsworth walked into the Tank with a beverage that made sharks grimace – apple cider vinegar drinks. The couple was seeking $400,000 for a modest 10% stake in their then-named Mother Beverage company.

  • Mark Cuban? OUT. "As much as I would like to help a Dallas company..."

  • Kevin O'Leary? OUT. "The valuation is insane."

  • Lori Greiner? Would be a customer, but not an investor.

  • Bethenny Frankel? Called their manufacturing plan "a disaster."

Did they walk away empty-handed? Absolutely not. When guest shark Rohan Oza – the beverage industry kingmaker – offered $400,000 for a hefty 25% stake, the other sharks urged them to take it.

Behind that seemingly tough deal was the strategic partnership that would transform their kitchen experiment into a beverage empire. The Ellsworths accepted, rebranded to the catchier "Poppi," and leveraged Oza's industry expertise to scale beyond their wildest dreams.

Their journey wasn't just about great taste — it was about perfect timing. As consumers increasingly demanded functional beverages with health benefits, Poppi's prebiotic sodas hit the market sweetspot between indulgence and wellness.

The Poppi phenomenon exploded across retail and social media alike. From 2,000 stores post-Shark Tank to national distribution, celebrity endorsements from Hailey Bieber to Post Malone, and Super Bowl commercials in 2024 and 2025 – this was no ordinary beverage launch.

What separated Poppi from thousands of failed beverage startups:

  • They pivoted from self-manufacturing to co-packers

  • They secured strategic retail partnerships with Whole Foods and Albertson's

  • They rebranded brilliantly for the modern consumer

  • They attached to the prebiotic/gut health mega-trend

Key takeaway: What looked like a tough Shark Tank deal (giving up 25% when asking for 10%) became the launchpad for an entrepreneurial grand slam. From $50 million in annual revenue to a $1.9 BILLION acquisition by PepsiCo – proving that sometimes the right strategic partner is worth more than favorable early terms.

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INSIGHT

🤝 The Partnership-First Mindset

Most founders obsessively protect their equity while missing the forest for the trees. The Poppi founders' willingness to accept 25% dilution instead of their desired 10% unlocked access to industry expertise that ultimately delivered a $1.9 billion exit.

The partnership advantage revolutionizes business trajectory:

  • Expertise outweighs ownership percentage: Rohan Oza's beverage industry knowledge accelerated Poppi's path to national distribution and celebrity partnerships that would have taken years to develop independently

  • Strategic networks create exponential growth: The right partner brings relationships that open doors to retail buyers, manufacturing solutions, and marketing opportunities inaccessible to solo entrepreneurs

  • Long-term vision beats short-term protection: Entrepreneurs who optimize for maximum control often plateau, while those who strategically dilute can reach escape velocity through the right partnerships

Your ideal partner brings what money can't buy: Industry credibility, relationship networks, and pattern recognition that helps you avoid costly mistakes and accelerate through critical growth stages.

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ACTION

🎯 Find Your Dream Partner

Stop hoping for the right connections and start strategically building them. This 30-day plan will help you find your Rohan Oza.

Part 1: Create Your Strategic Partner Profile

  • List your 3 biggest business roadblocks (distribution, manufacturing, industry credibility)

  • Identify 5 must-have capabilities in an ideal partner (specific retail connections, technical expertise)

  • Define clear partnership outcomes (what doors must they open within 90 days?)

Part 2: Research & Target List Development

  • Compile 30 potential partners matching your criteria using LinkedIn and industry databases

  • Prioritize those with proven track records in your specific vertical

  • Research their previous partnerships and investment patterns

Part 3: Strategic Outreach Campaign

  • Send 10 personalized connection requests weekly emphasizing specific value alignment

  • Follow with concise opportunity overview (problem you solve + why their expertise fits)

  • Offer clear next step (15-minute discovery call with prepared questions)

The Poppi Principle: Choose partners based on their ability to solve your specific growth challenges, not just their investment capacity.

MEME