From $1M To $500M In Five Years, Olipop’s Explosive Growth Is No Accident

Taste Radio

It’s not a stretch to say that Olipop has altered the beverage landscape.

Co-founded by industry veterans Ben Goodwin and David Lester in 2018, Olipop pioneered the breakout category of functional, low-calorie soda and has become one of the fastest growing drink brands in recent memory.

The company is expected to generate $500 million in revenue this year and its products are sold in over 35,000 retail stores across the U.S., including major chains Walmart, Target, Whole Foods, Publix, Kroger and Costco. Remarkably, the company is also profitable.

Olipop’s rise, fueled by Gen Z consumers seeking a healthier alternative to legacy libations, spurred the launch of dozens of new entrants into the space. Strategic companies have, expectedly, taken note.

The brand’s ascent is not common, but its co-founders adherence to business fundamentals, simple and clear messaging, and mission-driven values have given the brand a foundation on which it has flourished.

In this episode, Ben and David talk about how Olipop’s gradual embrace of the word “soda” has resonated with consumers and why marketing doesn’t lean heavily into the products’ functionality. They also explain why its mission and economic outcome “will forever be entwined,” their perspective on either an alignment with or sale to a beverage conglomerate, and why they strive to be “experts in the leadership” of their business.

Show notes:

0:35: Ben Goodwin & David Lester, Co-Founders, Olipop – Ben and David chat about their first appearance on Taste Radio in 2020 before they talk about their passion for electronic music and the former’s role as the DJ for Olipop’s holiday party. The co-founders also discuss how the term “soda” has undergone a renaissance, how they communicate value to consumers, why nostalgia was embedded in the creation of Olipop and why they are adamant about maintaining the functionality of the beverages, despite external cynicism. They also discuss the benefit of a remote working culture, explain why hiring talented leaders at the strategic level is “beyond critical,” draw an analogy to the active ingredients in energy drinks to those in Olipop and why they believe strategic companies see value in functional brands. Ben and David talk further about how listening to Olipop’s consumers resulted in the creation of the brand’s new shelf-stable line and why entrepreneurs who invest in their mental and emotional health can create great businesses.

Brands in this episode: Olipop, Recess, Fuze, BodyArmor, Red Bull, Monster, Celsius