Liquid assets
Liquid Death, the “goth kid of canned water” made a splash earlier this week with a $67 million funding round that brought its valuation to $1.4 billion — double what it achieved 2 years ago, giving the punky startup coveted unicorn status.
Investors backing the deal include actor Josh Brolin and entertainment company Live Nation, which has helped supercharge growth thanks to an exclusive supply deal that they’ve had with the company since 2021. The water brand is now stocked at more than 110,000 outlets across the US and UK, and recorded $263 million in scanned retail sales last year.
Canned laughs
Liquid Death’s appeal appears to derive in part from its #DeathToPlastic environmental ethos (their website describes cans as “infinitely recyclable”), as well as its dark marketing flair, with the company listing products like "Grim Leafer" and "Berry It Alive" under its tagline, “murder your thirst”.
At a time when other water brands went minimalist, Liquid Death leaned into a tongue-in-cheek metal morbidity that has paid off on social media, particularly with the increasingly sober Gen Z. Viral pranks and celebrity collaborations such as a Steve-O voodoo doll have helped amass more than 8 million followers across its platforms, including some 5 million on TikTok alone — more than quadruple the total for Evian, the next most followed water brand.
Next time you aren’t sure your business idea is radical or innovative enough: Liquid Death is worth more than $1 billion and they just sell canned water.
