What Happened To Electra After Shark Tank?
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Over the years, we've seen plenty of new beverages on "Shark Tank" with the investors loving some drinks and hating others. One product that made a name for itself on the show is Electra, an electrolytes-packed sports drink.
Electra was born when WNBA champ Fran Harris was running a 5K race in 2019. Along the way, a volunteer handed her a sports drink, and Harris looked down at the nutritional label. Upon realizing what she was drinking — presumably a bottleful of sugar water and colored dyes — Harris realized that there had to be a better-for-you energy drink.
Although the idea of her own energy drink brand wasn't anything new to Harris, this was just what she needed to get started on her project. Electra officially launched in late 2020, having raised $40k on Wefunder. In early 2021, Harris brought her pitch to the Sharks, hoping to score a deal of $350k in exchange for 20% equity. So, where is Electra today?
The Sharks hesitated to pour money into Electra
As mentioned previously, Electra had been officially in business only a matter of weeks when Fran Harris brought her pitch to "Shark Tank." Needless to say, the company had yet to make any sales, and the Sharks were understandably hesitant to take the risk of investing hundreds of thousands into something with no track record of proven success. However, Harris assured the Sharks that her four years working in sales at Procter & Gamble gave her experience when it comes to making connections and distributing products.
The Sharks also raised concerns regarding Electra getting cooler space in stores. One by one, the sharks dropped out, until finally Barbara Corcoran was the only one left standing. Corcoran offered Harris a deal of $100k in cash and a $250k line of credit in exchange for 30%, contingent on them reeling in at least one Hall of Fame sponsor. Harris accepted, and the pair set to work on making Electra a popular hydration drink.
Electra caught the eye of big-name athletic companies
Following her pitch on "Shark Tank," Fran Harris set to work getting Electra's name out into the world –- starting with courting bigger names. The likes of the NBA, NFL, MLB, and WNBA expressed interest in Electra, though it's unclear whether or not any kind of official sponsorship is or has been in the works.
That being said, it's very possible Harris wasn't able to make a sponsorship deal with any Hall of Famers happen, and the "Shark Tank" deal never closed; Electra is not mentioned on Barbara Corcoran's website along with her other "Shark Tank" deals.
Shark investment or no Shark investment, Electra still experienced the "Shark Tank" effect, with its sales spiking after the episode aired. The company emphasized its health benefits in particular, pointing out that while other sports drink ingredients are concerning, Electra uses monk fruit as a sweetener and does not add any artificial colors or flavors. That's all well and fine, but how is Electra doing two years post-pitch?
More than two years later, Electra is still kicking
As of August 2023, Electra seems to still be in business. The company allegedly made a deal with 172 Texas H-E-B locations in 2022, but Electra appears to no longer be in stores. The drinks are also listed on Amazon but marked as unavailable.
Currently, Electra drinks aren't even listed on the company's website. Instead, Electra only seems to be selling its powder mixes, which come in the same three flavors as its bottled drinks –- Litty Lemonade, Passion Punch, and Oh Yeah! Orange. Each pack of 12 servings costs $19.99, with a variety pack that costs $21.99. The powders are not sold through any other websites or retailers.
Much as it had on "Shark Tank," Electra continues to draw mixed reviews. Some Amazon commenters praised the drink for being healthy without necessarily tasting like a stereotypical green, all-natural beverage. However, others claimed that their bottles arrived past their expiration date or with mold growing inside the caps. One person even went so far as to describe Electra as tasting like river water. Ouch.
What's next for Electra hydration drinks?
Electra's future is very much up in the air at the moment, with seemingly little progress made since its appearance on "Shark Tank." The company supposedly reached some sort of agreement with distributors in 2022, but if that's truly the case, we have yet to see any action.
Unfortunately, Electra's relatively small size compared to other energy and sports drink brands -– think Gatorade, Red Bull, Powerade, etc. -– sets it at a huge disadvantage. The industry as a whole is worth more than $159 billion, with Electra's valuation sitting at $1.1 million at best. Gatorade alone controls about 46% of the sports drink market, and it's understandably virtually impossible for a newcomer like Electra to break in with sustainable sales.
But regardless of the odds stacked against Electra and Fran Harris, the company continues on in its mission to bring better hydration to athletes across the country. Where there is a will, there could be a way, and we have no doubts Harris has the willpower to take her product to the next level.