Opportunities are pouring in for water brand Liquid Death, according to CEO Mike Cessario.

In early October, the distilled and sparkling water brand raised $70 million in a Series D round led by Science Ventures at a valuation of $700 million. In a recent interview with Yahoo Finance, Cessario said Liquid Death “opens up all sorts of different avenues for the company,” but doesn’t have a specific timeline in mind.

“I think the IPO path is something that we’re going to really explore and see what it looks like. A timeline as to when it will be or if we’ll definitely do it. No, but we’re going to take something.Look, it’s the same for staying private and the potential for M&A.The company is growing very quickly and growth continues to accelerate. I think it’s the next kind of move that you consider when you think about what’s next,” he said.

The brand calls itself “a silly water company that hates corporate marketing just like you,” which makes consumers laugh, makes them drink more often, and “helps end plastic pollution.” An untraditional name that accompanies ‘evil mission’. According to the Liquid Death website, by drinking from a can.

Starting with only canned mountain water in 2019, the brand recently expanded its offerings to include unscented and flavored sparkling beverages with names that stay true to the brand’s dark humor, including Mango Chainsaw, Sliced ​​Lime, and Berry It Live. was expanded.

(Provided by Liquid Death)

(Provided by Liquid Death)

Liquid Death is on track to reach $130 million in revenue in 2022 and is expected to double that in 2023. Last year, the brand’s revenue reached $45 million. According to the company, the addition of the new flavor increased his online revenue by 40% after six months on the market.

In the direct-to-consumer model, cans that the brand calls Tallboy 12-Packs retail for around $15 to $21, but retailers ultimately choose the price tag. Cans are currently available on Amazon, as well as stores like 7-Eleven, Albertsons, Kroger, Publix, Safeway, Sprouts Farmers Market, Target, Walmart, and Whole Foods.

With non-alcoholic beverage prices rising (up 0.6% m/m and 12.9% y/y), Liquid Death plans to keep its premium prices in line with its competitors.

“At the end of the day, as long as we’re within the range of other premium products, it doesn’t matter. $1 more, $1 less, people aren’t buying Liquid Death. The best price is brand play , and if you have a true brand, you have a little more price elasticity than you would with a purely focused brand,” Cesario said.

The canned beverage company has more than 2.9 million followers on TikTok, attracting the attention of celebrities Wiz Khalifia, Martha Stewart, Tony Hawk and some parents.

“Hundreds of parents reached out on social media and said, ‘Thank you, my 9 year old is finally excited to drink water instead of soda. The format makes it feel like something cool.’ , I feel like he doesn’t”should have”

Brooke DiPalma is a reporter at Yahoo Finance. Follow her @@ on Twitter.brooke di palma Or email [email protected]

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