Partake Brewing, a Canadian non-alcoholic beverage brand has raised $4 million in institutional funding as it banks on consumers turning towards alternative drinking options.
"I think the big reason for our success and for the renaissance of craft [non-alcoholic] is this drive toward healthier drinking and eating," Partake Brewing CEO Ted Fleming told Cheddar.
Partake is banking on more consumers choosing non-alcoholic options at moments usually associated with drinking beer or wine, such as a happy hour event or party.
"They can have it at lunch and be productive in the afternoon when they get back to work," he said. "They can have it at a business meeting and have that same social experience and connection that comes with those meetings and also then be able to go back and be productive."
Fleming said Partake aims to compete directly with alcoholic options, rather than soda or other non-alcoholic drinks, meaning it's shooting for a larger presence in bars as well as retailers.
While alcohol consumption grew during the coronavirus pandemic, Partake saw its sales rise as well, and now the company is anticipating an uptick thanks to health-consciousness.
"We're expecting there to be a bit of shift now toward healthier products as people get into September, back to school, some resemblance of back to normal," Fleming said. "It's a period where people will re-evaluate how much they're drinking and maybe look towards non-alc a bit more going forward."
Partake's products, which include beer varieties such as IPAs, stouts, pale ales, and blondes, contain zero carbohydrates and as few as 10 calories per drink.
Paramount Global is set to absorb Showtime into Paramount+, creating a single streaming option to compete with the likes of Netflix and Warner Bros. Discovery’s Max. The company also plans to raise the monthly price from $9.99 to $11.99 per month after the integration.
Debt ceiling talks are underway in Washington, DC ahead of a default deadline. Michael Rosen, chief investment officer with Angeles Investments, joined Cheddar News to explain how a potential default could affect investment portfolios, among other items, for Americans.
Australia's government announced regulations for buy now, pay later services, which will be labeled as consumer credit products, which puts them under the country's Securities and Investments Commission's watch.
Walmart is reportedly teaming up with pet telehealth provider Pawp, giving subscribers unlimited access to vet services via video and text, starting on Tuesday.
Cheddar News checks in to see what's on The Day Ahead, which will include earnings from Lowe's, Dick's Sporting Goods, BJ's and AutoZone along with new home sales data. In addition, Microsoft's Build 2023 Developer Conference is slated to kick off for software engineers and web developers.
Amazon will use a new feature in its palm-scanning system to verify one's age to purchase alcohol.
Venmo will soon have accounts for teenagers ages 13-17 but they will have to follow a set of rules, with parents or guardians opening accounts on their behalf under their own accounts.
Rory Harvey, General Motors' incoming North American president, joined Cheddar News to discuss GM's foray into the rapidly-changing electric vehicle market along with what lies ahead. "It's a very dynamic time in the automotive industry," he said. "If you look to the transformation across the EVs, it's happening and it's happening at a pace."
Tesla trimmed prices by offering discounts of around $1,300 for its Model 3 vehicles, continuing price adjustments across its fleet since January.
A new oral weight-loss drug from Pfizer could be more effective than the popular Ozempic injection, based on clinical trial results.
