Electra is a functional beverage hydration company founded by former WNBA player Fran Harris. Founder and CEO Fran went to Shark Tank seeking $300,000 for a 20% stake. As of 2024, Electra’s net worth of $792.05K.
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Electra Net Worth
Electra earns money by selling hydration beverage powders, which are available in three delicious flavors including Litty lemonade, Passion punch, and Oh yeahi orange. The products sell directly to consumers at $19.99 each on its own website.
Texas-based beverage company Electra has a net worth of $792.05K including brand value.
When the company was first started, the production run cost was around $20,000 to $30,000.
| Company name | Electra Beverages & Nutritionals |
| Brand | Electra |
| Founder | Fran Harris |
| Founded | 2020 |
| Industries | Drink |
| Headquarters | Texas, United States |
| Products | Drink powder |
| Business Type | LLC |
| Patent | Zero |
| Net worth | $ 792.05K |
| Revenue | $ 50K-170K |
| Company value | $ 1.4 Million |
| Total Funding | $ 100K |
| Investors | 1 (One) |
| Owner | 2 (Two) |
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Electra Shark Tank Funding
| Air Date | 8 January 2021 |
| TV show | Shark Tank Episode 9, Season 12 |
| Asking for | $300,000 for 20% equity |
| Final deal | $100K plus $250K as a line of credit for a 30% stake, contingent on securing partnerships with influencers. |
| Shark in | Barbara Corcoran |
| Sharks out | Mark Cuban, Daymond John, Lori Greiner, and Kevin O’Leary |
Electra Shark Tank Pitch, Offer, and Video
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Fran Harris (Founder): Seeking $300,000 in exchange for 20% equity in her company.
Mark Cuban: – Mark said, “I already have two big deals with sports drink manufacturers so I can’t touch anything at all so I’m out”.
Barbara Corcoran: – Barbara was the only shark who expressed some interest in this product, she asked the founder if I gave the $300k how would you spend it.
Fran Harris (Founder): – Fran responded by breaking down the expenses, production cost around $20K to $30K, RND $25K, and hire logistics, sales, and marketing experts to help grow the business.
Lori Greiner: Lori was very impressed by the founder, but she decided to opt out by saying “drinks aren’t really my cup of tea”.
Kevin O’Leary: – Kevin was also out because founder Fran did not sell any units of the products and Kevin said that “confidence is not enough”.
Daymond John: – Daymond was not interested in this business, “I’ve Had a lot of challenges with this area and I wouldn’t be able to help you with this because it’s just so difficult so I’m out.”
Barbara Corcoran: – After all sharks decided not to invest in this business, Barbara made an offer, $100K cash up front, and a $250K line of credit for a 40% stake.
Fran Harris (Founder): – Fran countered with 25% for the same deal ($100K + $250K as a line of credit).
Barbara Corcoran: – After some negotiation, Barbara made a new offer, 30% for $100K plus $250K as a line of credit for a 30% stake, contingent on securing partnerships with one or two big NBA or NFL Hall of Fame.
Fran Harris (Founder): – Electra’s founder and CEO Fran Harris accepted the offer.
Also read – Swipensnap Shark Tank Update, Net Worth, Funding, Revenue, Sales
Electra After Shark Tank Update
After Shark Tank, Electra has changed their website’s look and feel and also introduced some new products for customers, such as instant drink powder. However, according to some media reports, it seems that Electra was not able to close the deal with Barbara.
Although, after appearing in shark tank Electra’s founder Fran Harris’ personal company has got some recognition.
Social media account…
| idrinkelectra |
FAQs
Is Electra Drink still in business?
Yes, Electra Drink is still in business.
How much is the Electra company worth?
Electra company’s estimated worth is $792.05K.
Who is the CEO of Electra Drink?
Electra Drink’s CEO is Fran Harris.
