Looking to new products, Bev adds strategic investors and redoubles focus on women entrepreneurs
Looking for fellow travelers to join in on its mission to transform the beverage business, the Los Angeles-based startup Bev has taken on fresh capital from a slew of strategic investors.
The company has added Erin and Sara Foster, creative heads of Bumble BFF and Bumble Biz, to their investor and creative talent pool along with other notable names like Rich Paul, Simon Tikhman, Keith Sheldon and Chief Zaruk.
The new capital will help support the launch of Bev’s new ‘Made By Chicks’ media platform and podcast, which will be hosted by the Foster sisters in their first official partnership with any brand, according to a statement from the company.
In addition to the new media platform, Bev is also planning to launch two new beverages into its boozy stable of canned wines. Expect two white wines to join the company’s Rose on store shelves within the year, according to company founder and chief executive, Alix Peabody.
“We’re partnering with Bev because we’re comfortable buying the product ourselves and telling our friends to buy it,” said Sarah Foster in a statement. “Our community trusts us to be authentic to ourselves and our brand, and we strive to do that. Bev’s female-oriented mission and movement align with our personal interests. We’re very inclusive, rather than alienating, and we’re thrilled to be a part of ‘Made By Chicks.’”
Peabody is one of several entrepreneurs in Los Angeles and beyond looking to upend the market for beverages worldwide — an industry that’s expected to hit $1.9 trillion, according to data provided by the company. Wine alone is expected to be a roughly $450.5 billion dollar business by 2024, according to bev.
“Legacy brands tend to sexualize alcohol consumption, and objectify women on TV, billboards, and in print,” said Peabody, in a statement. “That’s what we’re changing. We want women to know that drinking can be fun, inclusive, and safe.”
Together with Peabody, the Fosters will develop media like podcasts, videos, and events that center on entrepreneurial women. It’s a format similar to the media property Girlboss, founded by Sophia Amoruso and now owned by Attention Capital.
Stories and advice columns from the new platform will range from topics like asking for a raise to managing a company while pregnant.
“When I first met Alix and her team, I immediately gravitated to her incredible founder story, ambition to challenge the alcohol industry’s outdated status quo, and sheer tenacity to spark a movement through an empowering brand like Bev,” shared Simon Tikhman, the CEO and co-founder of The Core Entertainment, a partner of Live Nation, and new Bev brand investor, in a statement. “I also knew by partnering with Bev that I wanted to assemble an unrivaled strategic group with expertise and business acumen in diverse sectors. Erin and Sara Foster, Rich Paul, Keith Sheldon, and Chief Zaruk bring so much to the table.”
Source: TechCrunch
