Electra Net Worth: Electra, a sports drink, was featured on the show Shark Tank. The product’s creator saw a need for a healthy sports drink and set out to fill it. Athletes need to keep their minds and bodies in shape to stay at the top of their games.
Sports drinks, if we’re talking about beverages, are part of this category as well, but they aren’t sufficient. Many businesses sell beverages under the guise of “sports drinks,” despite the fact that they are loaded with sugar, sodium, and other unhealthy ingredients.
Since sports Electra no longer provides its vitamin, mineral, electrolyte, antioxidant, and amino acid-infused sports drink, this product fills the void. These beverages come in three flavors: passion fruit, orange, and itty bitty lemonade.
Electra Shark Tank Update
|Product||All-Natural Sports Hydration Drink|
|Asked For||$350,000 For 20%|
|Final Deal||$100,000 Cash + $250,000 Line Of Credit For 30% Contingent On Securing Partnership With Influencer|
|Episode (Shark Tank USA)||Season 12 Episode 9|
|Business Status||In Business|
|Net Worth 2022 / Valuation||$1.1 Million|
Electra, a startup that makes natural sports drinks, appears on Shark Tank Season 12 Episode 9. On Shark Tank, the founder of the Electra company has proposed raising $350,000 in exchange for a 20% stake in the business.
It’s a drink manufacturer that focuses on electrolyte replacement fluids. The sluggish growth of the hydration drink market has resulted in a current valuation of USD 15.2 billion. Healthy sports drinks is a common way to describe items in this market.
There are a lot of well-known brands competing here. Cure Hydration, based in New York, has amassed a $2.6 million funding round. The market for hydration drinks is becoming increasingly competitive as many large beverage producers enter the space.
TEXAS STARTUP ELECTRA BEVERAGES TO PITCH SPORTS DRINK, LIFESTYLE PRODUCTS ON ‘SHARK TANK’ HTTPS://T.CO/G362VAKUWJ
— AUSTIN INNO (@AUSTININNO) JANUARY 18, 2021
How Did Electra Start?
Dallas native and former WNBA star Fran Harris is used to winning. She played for the University of Texas, where she was a key contributor to their 1986 NCAA championship, and the Houston Comets, who won the inaugural WNBA title in 1997. Harris, like most athletes, has consumed sports drinks throughout her collegiate and professional basketball careers.
She was tired of feeling irritated by the nutritional information on the popular sports drinks, which had been recommended to her but had left her feeling lethargic and had contributed little to her recovery. After reading the nutritional labels, she learned that the main components of the sports drinks were salt, sugar, and artificial food colorings.
Who Is The Founder Of Electra?
Electra’s founder, Fran Harris, is a multifaceted woman who participated in sports while at university. In January of 2021, she opened her company, Electra Beverages, in Texas. Since the beginning of the year 1995, she has been the head of the company. It’s no secret that Fran Harris Enterprises is a business devoted to advertising.
She first attended the University of Texas at Austin, where she received her Bachelor of Science and Master of Arts in journalism before switching to the University’s Masters of Science in technology commercialization. She spent two years instructing students at the University of Texas at Austin and has hosted HGTV’s “Home Rules.”
She is an expert, thought leader, speaker, coach, consultant, or trainer who is looking to advance to new levels of sales, revenues, and/or leadership by applying tried and true marketing and sales techniques that have generated more than $20 million in product, speaking, training, and consulting revenue.
Did Electra Get a Deal And Update on Shark Tank?
Members of Electra Fran Harris and Barbara Corcoran have decided to form a business partnership. In exchange for a 30% stake in the company, Corcoran offered a $100,000 cash investment and a $250,000 credit line.
After Harris revealed she had been in talks with two Hall of Famers as potential investors, Corcoran agreed to reduce stock. Fran Harris was overjoyed by the offer and practically danced out of the Tank once she had accepted it. Electra changed their recipe based on comments from their customers.
Throughout the programme, Harris implied that Electra had substituted Munk fruit for sugar. According to the company’s website, they have switched to NCZ Sweet, a natural, calorie-free sweetener made from fermented sugarcane.
In addition, business owners who want to pitch their venture on the show can now enrol in a masterclass course taught by Fran Harris and titled Shark Tank Audition.
What Is The Electra Net Worth?
It’s possible that by 2022 Electra’s net worth will have hit $1.1 million. It is predicted that by 2021, the market for sports hydration drinks like these will be worth $15.2 billion. By 2031, that number could reach $25.5 billion. With such a promising future expansion, this product is bound to be a smash hit in the coming years.