Poppi
Allison and Stephen Ellsworth's prebiotic soda brand. Kitchen experiment to $1.95 billion PepsiCo acquisition in nine years, $500 million in revenue, and the TikTok video that generated $100,000 in 24 hours.
Poppi grew from a kitchen experiment in Dallas to $500 million in annual revenue by 2024, a roughly 38x increase from the $13 million it generated in 2020. In May 2025, PepsiCo acquired the prebiotic soda brand for $1.95 billion gross ($1.65 billion net of tax benefits), making it one of the largest acquisitions of a founder-led consumer brand in the decade and PepsiCo’s third major wellness acquisition alongside Siete and Sabra.
Forbes estimated that co-founders Allison and Stephen Ellsworth owned approximately 12% of the company at the time of sale, putting their pre-tax payout at roughly $234 million and their post-tax take at around $150 million. The couple raised only $40 million in total external capital across every round, meaning PepsiCo paid roughly 49x the total investment to acquire the company. Allison returned to Shark Tank as a guest investor after the sale, going from contestant to Shark in seven years.
At a glance:
| Founded | 2016 (as Mother Beverage; rebranded to Poppi in 2020) |
| Founders | Allison Ellsworth (Chief Brand Officer), Stephen Ellsworth (CEO) |
| Ownership | Acquired by PepsiCo in May 2025 for $1.95B |
| Revenue (2024) | ~$500M |
| Total funding raised | ~$40M across all rounds |
| Key investor | CAVU Consumer Partners (led Series A and B); Rohan Oza (Shark Tank, $400K for 25%) |
| Celebrity investors | Halsey, Russell Westbrook, Post Malone, The Chainsmokers, Alix Earle, Ellie Goulding, Olivia Munn |
| Retailers | 36,000+ locations at 120+ retailers including Walmart, Target, Costco, Kroger, Whole Foods, Amazon |
The Story
While working as a landman contractor in the oil and gas industry, Allison Ellsworth spent four years and $15,000 going to doctors for chronic health issues: eczema, stomach problems, bloating, facial redness, and eyes that would swell shut. Nobody could tell her what was wrong. She eventually tried a three-month elimination diet and started drinking apple cider vinegar daily, and within two weeks the symptoms were dramatically better.
The taste of straight apple cider vinegar was miserable, so she started mixing it with fruit juice and soda water in her Dallas kitchen around 2015 to make it drinkable. By 2016, she and Stephen were selling the mixture at local farmers markets. Within three weeks, a Whole Foods buyer walked up to their booth, tasted the product, and handed them a card, telling them: “We don’t have anything like this in Whole Foods.” Allison has said that was the moment she realized she had a business rather than a hobby.
In 2018, the Ellsworths appeared on Shark Tank under the name Mother Beverage, a play on “mother of vinegar,” the byproduct of vinegar fermentation. Allison was nine months pregnant. Rohan Oza, the branding executive known for his work with Vitaminwater and Bai, offered $400,000 for a 25% stake. The company had roughly $500,000 in revenue at the time.
The deal with Oza changed the trajectory of the company, not because of the money, but because of the rebrand. Mother Beverage could not trademark “Mother” because the term could describe any vinegar-based drink, and the brand’s glass bottles and health-tonic positioning limited its appeal to the natural foods aisle. Over nine months, the Ellsworths and Oza rebuilt everything: colorful cans instead of glass bottles, a touch more sugar for drinkability, and a new name that positioned the product as a fun soda rather than a wellness supplement. Poppi launched in 2020, and the business took off.
The Strategy
From health tonic to the future of soda
The single most important decision Poppi made was abandoning its original identity. Mother Beverage was a vinegar drink for health-conscious shoppers, and Poppi was a soda for everyone. The colorful cans, the playful name, and the tagline “The Future of Soda” repositioned the product from the supplement shelf to the beverage aisle, where it competed directly against Coca-Cola and Pepsi rather than against kombucha and wellness shots. That shift, toward where the market was already heading, is what unlocked mass-market retail and the kind of volume growth that attracted PepsiCo’s attention.
One TikTok, $100,000 in one day
Allison posted a TikTok sharing Poppi’s origin story, and it went viral, generating $100,000 in direct sales within 24 hours. The company shifted roughly 20% of its marketing budget to TikTok, and rather than hiring an agency, Allison became the face of the brand on the platform, running taste tests, responding to comments, and giving behind-the-scenes tours. The #drinkpoppi hashtag reached one billion views, and Poppi’s approach to TikTok became a case study in founder-led influencer marketing before most CPG brands had even created accounts.
Investors who sell for you
Instead of paying celebrities for endorsements, Poppi brought them in as investors who then promoted the product naturally. The roster included Russell Westbrook, Halsey, The Chainsmokers, Ellie Goulding, Olivia Munn, Kevin Love, Nicole Scherzinger, Post Malone, and Alix Earle, 17 celebrity investors in total. Post Malone joined in September 2024 after personally quitting traditional soda, making the connection authentic rather than transactional. The result was earned media that looked like organic enthusiasm because it was organic enthusiasm, and it cost a fraction of what equivalent advertising would have.
The most-watched Super Bowl ad
In February 2024, Poppi became the first DTC soda brand to air a Super Bowl commercial. “The Future of Soda is Now” was the most-watched ad of Super Bowl LVIII, reaching 29.1 million households. Google search volume for Poppi spiked 100x in the hour after airing, Instagram engagement jumped over 250%, and TikTok followers grew 70%. Poppi returned for Super Bowl LIX in 2025 with Alix Earle, Jake Shane, and Rob Rausch, reinforcing the brand’s position as the insurgent challenger in a category that had belonged to two companies for 150 years.
The Numbers
| Year | Estimated Revenue | Notes |
|---|---|---|
| 2018 | ~$500K | At time of Shark Tank taping |
| 2020 | $13M | First full year as Poppi |
| 2021 | $26M | ~100% growth |
| 2022 | $65M | ~150% growth |
| 2023 | $100M+ | Conservative estimate |
| 2024 | ~$500M | Per multiple industry sources |
Funding: Poppi raised approximately $40 million in total across a $400,000 Shark Tank deal in 2018 (25% equity to Rohan Oza), a $13.5 million Series A led by CAVU Ventures in August 2021 with celebrity investors, and a $25 million Series B from CAVU Consumer Partners in December 2022.
The acquisition: PepsiCo announced the deal on March 17, 2025, and closed on May 19, 2025. The gross price was $1.95 billion, with $300 million in anticipated tax benefits reducing the net cost to $1.65 billion. An additional performance-based earnout was included, with terms undisclosed. At roughly 3.9x 2024 revenue, the multiple was aggressive but reflected PepsiCo’s urgency to own a position in the prebiotic soda category after rival Coca-Cola launched Simply Pop in February 2025.
Profitability: Poppi reported gross margins of 65% and a customer acquisition cost of $18, compared to the industry average of $29, though net profit figures were never publicly disclosed.
Controversies
”Gut health” class action lawsuit
In May 2024, plaintiff Kristin Cobbs filed a class action alleging that Poppi’s marketing, including the tagline “Be Gut Happy. Be Gut Healthy,” was misleading because each can contains only 2 grams of prebiotic fiber, an amount the suit argued was far too little to confer meaningful digestive benefits. The complaint cited research showing that a consumer would need to drink more than four cans daily to see any benefit, at which point the sugar intake would offset whatever advantages the fiber provided. Poppi settled for $8.9 million, with class members eligible for up to $0.75 per single can, $3 per four-pack, and up to $16 without proof of purchase.
Super Bowl vending machine backlash
Before Super Bowl LIX in February 2025, Poppi sent 32 custom pink vending machines fully stocked with soda to influencers in NFL team cities. Consumers criticized the campaign as “very out of touch” for sending expensive gifts to “already rich influencers” instead of hospitals, schools, or community organizations, and some noted that only 2 of the 32 recipients were non-white. Competitor Olipop fanned the flames on TikTok, claiming each machine cost $25,000 and that Poppi spent $16 million total on the Super Bowl push. Allison Ellsworth responded that the $25,000 figure was “inflated by 60%,” noted that Poppi donated more than 3.4 million cans annually to nonprofits and schools, and called out the “competitor bullying us online.” Poppi subsequently deployed vending machines to an LA fire station, a Phoenix elementary school, a Nashville community center, and a Dallas community center.
What You Can Learn
Kill the version of your brand that is not working. Poppi did not exist until the founders were willing to abandon everything about Mother Beverage: the name, the packaging, the positioning, and the audience they had spent two years building. That rebrand, from vinegar tonic to fun soda, was the single decision that turned a $13 million company into a $500 million one, and most founders would never have had the nerve to make it.
Your founder story is your best ad. Allison Ellsworth’s TikTok about her health problems and kitchen experiments generated $100,000 in sales in one day, not because it was polished, but because it was real. For any online business, the story of why the founder started the company is often more compelling than any campaign an agency could create.
Make investors your influencers. Poppi gave celebrities equity instead of endorsement fees, which meant every social media post about the product came from genuine enthusiasm rather than contractual obligation, and the authenticity was visible. The strategy cost less than traditional influencer marketing while producing content that audiences trusted more.
Frequently Asked Questions
Who founded Poppi?
Allison Ellsworth and Stephen Ellsworth co-founded the company in 2016 as Mother Beverage, rebranding to Poppi in 2020 after Allison’s appearance on Shark Tank.
How much did PepsiCo pay for Poppi?
PepsiCo paid $1.95 billion gross ($1.65 billion net of $300 million in anticipated tax benefits) plus an undisclosed performance-based earnout, with the deal closing in May 2025.
How much did the Poppi founders make?
Forbes estimated the Ellsworths owned approximately 12% of the company at the time of sale, putting their pre-tax share at roughly $234 million and their post-tax take at approximately $150 million.
Was Poppi on Shark Tank?
Allison Ellsworth appeared on Shark Tank Season 10 in 2018 under the name Mother Beverage while nine months pregnant, accepting $400,000 from Rohan Oza for a 25% equity stake.
Is Poppi actually healthy?
A class action lawsuit filed in May 2024 alleged that Poppi’s 2 grams of prebiotic fiber per can is too little to provide meaningful gut health benefits, and Poppi settled the suit for $8.9 million without admitting fault.
How many calories are in Poppi?
Each 12-ounce can contains 25 calories or fewer and 5 grams of sugar or fewer, with 2 grams of dietary fiber from prebiotic apple cider vinegar.
Who owns Poppi?
PepsiCo owns Poppi. The beverage company acquired the brand in May 2025 for $1.95 billion gross, one of the largest acquisitions of a founder-led consumer brand in the decade.
When was Poppi founded?
The company launched in 2016 as Mother Beverage, sold at Dallas farmers markets by Allison and Stephen Ellsworth. It rebranded to Poppi in 2020 after Allison’s Shark Tank deal with Rohan Oza.
What is Poppi’s valuation?
PepsiCo valued Poppi at $1.95 billion gross in the May 2025 acquisition, with the net cost at $1.65 billion after $300 million in anticipated tax benefits. That works out to roughly 3.9x the company’s 2024 revenue of around $500 million.
What is Allison Ellsworth’s net worth?
Forbes estimated that Allison and Stephen Ellsworth owned approximately 12% of Poppi at the time of the PepsiCo sale, putting their combined pre-tax payout at roughly $234 million and their post-tax take at around $150 million.
What happened to Poppi?
PepsiCo announced its acquisition of Poppi on March 17, 2025, and closed the deal on May 19, 2025. The brand now operates inside PepsiCo’s portfolio alongside other wellness acquisitions like Siete and Sabra.
Sources
- PepsiCo, “PepsiCo Completes Acquisition of Poppi,” May 2025. Acquisition price, deal structure, closing date.
- CNBC, “Poppi went from kitchen experiment to $2 billion deal with PepsiCo,” October 2025. Founding story, development timeline.
- KHOU, “Poppi soda PepsiCo acquisition,” 2025. Founder ownership estimate, Whole Foods discovery.
- GlobeNewsWire, “Poppi’s First National Commercial Most Watched Ad During Super Bowl LVIII,” February 2024. Super Bowl ad performance, viewership numbers.
- BusinessWire, “Poppi Announces $13.5M Investment Round Led by CAVU Ventures,” August 2021. Series A details, celebrity investor list.
- BevNET, “Poppi Closes CAVU-Led $25M Series B Round,” December 2022. Series B funding.
- Digiday, “TikTok is changing small brands’ lives,” 2021. TikTok sales spike, $100K in 24 hours.
- BevNET, “Mother Beverage Rebrands as Poppi,” 2020. Rebrand details, packaging changes.
- ClassAction.org, “$8.9M Poppi settlement resolves class action lawsuit,” 2025. Lawsuit details, settlement terms.
- Marketing Brew, “Poppi Olipop Super Bowl vending machine campaign controversy,” February 2025. Vending machine backlash, competitor response.
- Texas Monthly, “Poppi Founder Allison Ellsworth,” 2025. Ellsworth background, Shark Tank return as investor.
- PR Newswire, “Poppi Announces Post Malone as Latest Partner & Investor,” September 2024. Post Malone partnership details.