The weather is breaking in parts of the U.S., and people are anxious to get outside and meet up. White Claw Hard Seltzer is hoping to capitalize as friends begin to mingle after a year of pandemic lockdowns.
The boozy beverage brand is introducing White Claw Surge, available in blood orange and cranberry flavors, which takes summer sipping to a new level with its 8 percent alcohol content, a 3 percent jump from existing products. John Shea, chief marketing officer at White Claw Hard Seltzer, said the brand was inspired by its consumer base to create the new line of beverages.
"We've got the biggest fanbase, extremely passionate. We don't have to look too far when we're looking for new inspiration on new products," Shea told Cheddar. "They're vocal about it and we've got kind of built-in consumer research just by following social media, so that's where we take our lead."
The brand is also rolling out a line of alcoholic iced teas that will be available in lemon, raspberry, peach, and mango. Those teas, however, will retain the typical 5 percent alcohol content.
With demand for hard seltzer on the rise in the U.S. Shea said the company has already taken steps to make sure there is enough product heading to store shelves by building two "breweries." He said the factories will help the brand remain the leader in the hard seltzer category.
"There's been a big wave into the hard seltzer market. Last year at this time we had about six competitors. Now there's about 170. White Claw's bigger than all of them combined. So our fans have really gotten behind the product and are looking for new innovation, and that's what we're bringing to them," he said.
Shea said the company plans to maintain its position at the top of the hard seltzer category by continuing to listen to its consumers and elevating its offerings with quality products.
"It really starts with the liquid, an amazing, refreshing liquid, and then for White Claw, it's just about pure uncomplicated fun. It's a simple product, light flavors, really refreshing," he noted.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
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As cell carriers AT&T and Verizon planned to roll out nationwide 5G service this week, the FAA and U.S. DOT are asking the companies to pause their plans so more research can be done on the impact 5G has on aircraft technology. The companies are refusing, citing French regulations that limit wireless signals around airports while allowing research to continue. This week's launch wasn't the first time concerns have delayed 5G — last year, Airbus and Boeing express concerns, pushing the deadline into November, December, and then into this year. So what happens now — and what happens next? Will 5G roll out this year as expected? Jon Swartz, Senior Reporter at MarketWatch, joins Cheddar News' Closing Bell to discuss the state of the planned 5G rollout, why the FAA and U.S. Department of Transportation are asking carriers to stall the launch, and more.
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Luke Larsen, senior editor at Digital Trends, joins Cheddar News to discuss the largest tech convention in the world, CES, kicking off in Las Vegas this week.
