BrewDog cofounder James Watt stood onstage in front of 4,000 of his shareholders to deliver some news.
But behind those impressive numbers is a challenge: BrewDog is much bigger than the majority of America’s 7,500 craft breweries, most of which make less than 1,000 barrels of beer a year. But it’s a minnow compared to mega-brewers like Anheuser-Busch InBev, which had 2018 revenues of $55 billion and controls more than 26% of the global beer market, according to research firm Euromonitor. It also pales in comparison to Heineken, which sold $25 billion worth of suds in 2018.
Dickie took a more measured approach. At age 12, he found a brewing kit in his parent’s attic and, alongside his dad, began to experiment with different fresh hops. He joined Watt at the University of Edinburgh to study distilling and after graduating in 2004, he went to work as a brewer at Thornbridge Brewery in England. When Watt would periodically visit, the two would brew their own concoctions, mainly American style IPAs and high-alcohol imperial stouts.
“We had to both move back in with our parents, because we couldn't afford to pay ourselves, which was fun at 24. And we did everything, the two of us, from filling bottles by hand to sleeping on sacks of malt on the floor,” Watt says. Early investors have done well. Daniel Fetter, a nurse in Nashville, Tennessee, initially invested $10,000 in the first Equity for Punks round in 2010. Today, he says the investment is worth about $100,000 - a return of over 900% . But those oversized returns are likely a thing of the past. Jonny Forsyth, an analyst at London-based market research firm Mintel, says there are now so many equity punks that dilution will make it hard for new investors to see a huge profit.its first venture funding.
I tried their beers and oh wow they are amazing
Is it right to include a terrorist in most powerful person in the world? Shameful See the 75 PowerfulPeople who truly run the world:
Who needs help
The brewdog story. Love to hear it 👍🏿
James Watt and Martin Dickie built a multinational $2 billion beer empire from a Scottish shed. To survive, they are pivoting toward higher-margin, beer-centric businesses
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: wwd - 🏆 24. / 68 Read more »
Source: CNBC - 🏆 12. / 72 Read more »