🚨 Liquid Death IPO news leaked: The water in a beer can company will be going public in 2024.
It's one of the wildest brands ever (as this ad shows).
And the story behind it is equally wild: featuring chopped off heads, fake energy drinks, and insane growth.
A THREAD
1/18
The story of Liquid Death is the story of its founder and chief personality, Mike Cessario.
Early in life, he was always very interested in Skateboarding and Skate graphics. Things like Mad magazine.
These had a huge influence on Liquid Death's art style now.
2/18
After skateboarding, Mike played guitar in Metal & Punk bands.
So it's no surprise to hear metal in many of their ads.
Including, unexpectedly, this cartoon ad:
3/18
Then Mike did graphic design / advertising in college, which led to an 11-year career in advertising.
Including stints as Creative Director for VaynerMedia - @garyvee 's agency - and Netflix.
This was when he developed the expertise he is deploying today:
4/18
Before founding the company, Mike had a crucial insight from his band friends:
Energy drink companies (*Cough* Monster) were giving them water in their cans to make fans think they were energy drinks.
It was all just a marketing facade.
Source: @CNBCMakeIt
5/18
This, combined with the insight that only junk food companies were playing with funny and irreverent marketing...
Helped convince Mike to start the company.
6/18
So what would he name it?
Mike likes to ask "What is the dumbest possible thing we could do?"
It helps him think in a truly innovative way.
And that is where the name Liquid Death came from.
7/18
Liquid death solves a simple mass consumer problem:
→ I want to drink water, but I don't want to look like a party-pooper doing it.
It also solves a specific niche consumer problem:
→ I am a recovering alcoholic who wants a similar experience.
This led to FAST growth.
8/18
After being founded in 2017, the company raised $1.6M in 2019.
Mike included a strategic investor in the round:
Dollar Shave Club founder.
You'll remember his own viral ad:
9/18
As its brand grew, Liquid Death's spicy name even turned out to be an asset for it.
Stores would try to obscure its name.
But this only attracted more people to the product.
10/18
Another key to Liquid Death's success in its recent scaling phase has been its Amazon program.
In most of its ads, you'll see a call-out like 'Available At Amazon.'
This has led Liquid Death to become the #1 brand in still water & and #20 for all grocery products.
11/18
Meanwhile, Liquid Death kept up its torrid marketing pace.
What has been the hottest show that's hardcore but mainstream?
The Boys.
Of course Liquid Death marketed with them:
12/18
How does Mike keep making these genius campaigns?
"We don't wanna make marketing. We wanna make people laugh."
13/18
And Mike tracks the success of his social media marketing religiously.
Here he is comparing Liquid Death's followers to Red Bull and Monster:
14/18
A key channel the company has really dominated is TikTok.
It has 3.9M followers on the platform.
This recent video with Travis Barker (Blink 182 drummer) got 4.5M views.
The basketball TikTok at the beginning of the thread got 4M.
15/18
More recently, the company has even moved into product innovation.
4 months ago, it released its Iced Tea product:
With only 6g of sugar (from Agave) and 30 mg of natural caffeine.
Now Liquid Death isn't simply a water company.
16/18
These moves are working.
In 2019, Liquid Death had just $3M in revenue
In 2021, it was at $45M
Last year, it was at $130M
That's an insane 156% compounded yearly growth rate.
It's the fastest growing non-alcoholic beverage company of all-time.
17/18
Ultimately, Liquid Death is hoping to follow in the footsteps of Monster,
Which has been the best performing stock of the last 20+ years.
It's returned 70,162% since its 1990 IPO.
It'll be fun to watch to see if it can.
(Pun intended.)
18/18
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