Liquid Death, the canned water startup, announced it raised $9 million in Series A funding to help push the hardcore brand into more brick-and-mortar retailers.
Co-founder and CEO Mike Cessario told Cheddar they were able to raise the money "fairly quickly" after deciding to expand beyond online sales.
"It wasn't until we really realized that we wanted to start going heavy into the more traditional brick-and-mortar retail space, that obviously gets a lot more capital intensive," Cessario said.
Cessario, who is a punk rock and heavy metal fan, says there weren't many healthy brands marketing to rock and roll subcultures and saw that as an opportunity to be creative in the brand marketing.
"There were really no healthy brands that were speaking anywhere near that kind of demographic. At the end of the day we wanted to take the healthiest thing you can drink and build a really fun, entertaining brand around it," Cessario said.
Hence the Liquid Death "murder your thirst" tagline that combines an aggressive and tongue-in-cheek approach to marketing. The company continues to roll with the same branding in its new advertising campaign "Keep the Underworld Beautiful" that is asking customers to save Hell from plastic bottle waste.
Although the branding is the most visual element of the company's ethos, Cessario says it's not the company's only priority. Liquid Death prides itself on its aluminum cans that contain over 70 percent recycled material and that it exclusively ships products by boat to reduce its carbon footprint.
"We ship by boat to the U.S., which most people don't realize sea freight is the most carbon-efficient mode of transportation that exists," Cessario said.
Orangetheory Fitness is redefining the future of workouts with smarter tech, strength-based programming, and community-driven studios built for what’s next.
Spain's government has fined Airbnb 64 million euros or $75 million for advertising unlicensed tourist rentals. The consumer rights ministry announced the fine on Monday. The ministry stated that many listings lacked proper license numbers or included incorrect information. The move is part of Spain's ongoing efforts to regulate short-term rental companies amid a housing affordability crisis especially in popular urban areas. The ministry ordered Airbnb in May to remove around 65,000 listings for similar violations. The government's consumer rights minister emphasized the impact on families struggling with housing. Airbnb said it plans to challenge the fine in court.
Roomba maker iRobot has filed for Chapter 11 bankruptcy protection, but says that it doesn’t expect any disruptions to devices as the more than 30-year-old company is taken private under a restructuring process. iRobot said that it is being acquired by Picea through a court-supervised process. Picea is the company's primary contract manufacturer. The Bedford, Massachusetts-based anticipates completing the prepackaged chapter 11 process by February.
Serbia’s prosecutor for organized crime has charged a government minister and three others with abuse of position and falsifying of documents related to a luxury real estate project linked to U.S. President Donald Trump’s son-in-law Jared Kushner. The charges came on Monday. The investigation centers on a controversy over a a bombed-out military complex in central Belgrade that was a protected cultural heritage zone but that is facing redevelopment as a luxury compound by a company linked to Kushner. The $500 million proposal to build a high-rise hotel, offices and shops at the site has met fierce opposition from experts at home and abroad. Selakovic and others allegedly illegally lifted the protection status for the site by falsifying documentation.