PepsiCo paid $1.95 billion to acquire Poppi in 2025, making the prebiotic soda brand one of the beverage industry’s biggest success stories in recent years. The deal came less than a decade after founders Allison and Stephen Ellsworth started selling their homemade apple cider vinegar drinks at Dallas farmers markets.
The numbers tell a remarkable story. Poppi’s sales jumped nearly 38x from 2020 to 2024. The company hit an estimated $500 million in revenue in 2024 alone, securing its position as a major player in functional beverages. Poppi now holds a 19% market share in the prebiotic soda category, outpacing many established competitors.
This performance becomes even more impressive when you consider the functional beverages market was worth approximately $175.5 billion in 2022 and is projected to reach $339.6 billion by 2030.
You’ll discover how a kitchen experiment became a billion-dollar brand in this article. We’ll walk through Poppi’s journey from those early farmers market days to its Shark Tank appearance and eventual PepsiCo acquisition. You’ll also learn about the challenges along the way, including a recent $8.9 million class action lawsuit over marketing claims.
Whether you’re curious about the founders’ path or want to understand how a beverage startup achieved this level of success, we’ll break down the complete story behind Poppi’s impressive valuation.
Poppi’s Net Worth in 2025: The $1.95 Billion Story
Poppi’s $1.95 billion valuation represents a stunning achievement for a beverage company that started with a homemade recipe less than a decade ago. The prebiotic soda brand’s journey from farmers markets to billion-dollar acquisition stands as one of the functional beverage industry’s most impressive growth stories.
How much is Poppi worth today?
PepsiCo’s $1.95 billion acquisition of Poppi in early 2025 reflected several key financial indicators that made the prebiotic soda company an attractive target:
Annual revenue trajectory: The company reached approximately $500 million in revenue in 2024, showing extraordinary year-over-year growth
Market penetration: Poppi secured shelf space in over 20,000 retail locations nationwide by late 2024
Profit margins: Despite substantial marketing investments, Poppi maintained healthy profit margins compared to industry standards
Brand equity: The company built substantial consumer loyalty and brand recognition through strategic marketing
The founders, Allison and Stephen Ellsworth, have seen their personal net worth grow substantially through this acquisition. While the exact details remain private, industry analysts estimate their combined stake provided them with hundreds of millions from the transaction.
PepsiCo’s acquisition and what it means
PepsiCo’s decision to acquire Poppi outright rather than pursue a minority investment signals a significant shift in the beverage giant’s strategy. Here’s what this acquisition accomplishes:
It gives PepsiCo immediate leadership in the rapidly growing functional soda category. The company can now appeal to health-conscious consumers who have moved away from traditional sodas while gaining access to Poppi’s devoted younger consumer base.
For the prebiotic soda industry as a whole, this acquisition validates the market’s potential and likely triggers additional investment and competition. PepsiCo has indicated plans to maintain Poppi’s independent operations while providing resources for expanded production capacity and international distribution.
Poppi soda net worth vs. competitors like Olipop
Poppi’s $1.95 billion valuation substantially outpaces its nearest direct competitor, Olipop. While privately held Olipop’s exact valuation remains undisclosed, industry estimates place it between $500-600 million based on its latest funding rounds—roughly a third of Poppi’s worth.
This valuation gap exists despite some market similarities:
Market share: Poppi holds approximately 19% of the prebiotic soda market compared to Olipop’s estimated 14%
Distribution: Both brands have secured nationwide retail presence, though Poppi maintains slightly broader distribution
Product lineup: Both offer similar prebiotic benefits with different flavor profiles and positioning
Growth rate: Poppi’s sales grew at a substantially faster rate (38x from 2020-2024) than Olipop during the same period
Other functional beverage competitors like Health-Ade Kombucha ($300M estimated valuation) and Waterloo sparkling water ($400M estimated valuation) similarly trail Poppi’s impressive market position.
What ultimately separated Poppi from competitors was its ability to create a lifestyle brand that resonated deeply with younger consumers while maintaining strong unit economics that made the acquisition especially attractive to PepsiCo. The brand’s strategic positioning between health benefits and enjoyable taste profile created what analysts are now calling the “Poppi premium”—a valuation multiplier that recognized the brand’s unique market position.
From kitchen experiments to Shark Tank success
Before Poppi became a beverage industry sensation, it started as a simple kitchen experiment. Allison Ellsworth’s persistent health issues led her to discover apple cider vinegar as a remedy that delivered impressive results—helping her lose weight, reduce bloating, and achieve clearer skin. Like many others, she found its harsh taste almost unbearable.
The original recipe and early days at farmers markets
Allison’s journey began in 2015 in her Dallas kitchen, where she started experimenting with ways to mask apple cider vinegar’s unpleasant flavor. She combined fruit juices, prebiotics, and sparkling water, creating a fizzy concoction that delivered health benefits without sacrificing taste.
The Ellsworths took their creation to local farmers markets throughout the Dallas-Fort Worth area. Their homemade beverage quickly gained popularity among health-conscious shoppers looking for an alternative to traditional sodas.
Four original flavors formed their initial lineup:
- Blueberry sage
- Lime ginger
- Raspberry rose
- Pineapple turmeric
The breakthrough moment came when a Whole Foods buyer happened to stop by their farmers market stand, took one sip, and immediately recognized the product’s potential. Soon after, their drinks appeared in Whole Foods locations across the Dallas-Fort Worth region and expanded to more than 200 Albertson stores.
Rebranding from Mother Beverage to Poppi
The original product was called “Mother Beverage”—a nod to the raw, unfiltered apple cider vinegar used in the formula. Eighteen months into the business, Mother Beverage had already grossed around $500,000. The bottles sold for between $2.99 and $3.59, and the couple anticipated reaching $1 million in annual sales.
Despite this early success, the Ellsworths faced a significant challenge—they couldn’t trademark the name “Mother” for their product. This limitation forced them to turn down interested retailers, essentially putting the brakes on their expansion.
The Shark Tank deal that changed everything
In December 2018, Allison and Stephen appeared on Shark Tank seeking $400,000 for a 10% stake in their company, effectively valuing Mother Beverage at $4 million. Most of the Sharks were skeptical about this valuation. Bethenny Frankel, Kevin O’Leary, Mark Cuban, and Lori Greiner all declined to invest, citing concerns about the competitive beverage market and how much additional capital would be needed.
Rohan Oza—known as “The Brandfather” for his success with brands like Vitamin Water and Bai—saw potential where others didn’t. Oza offered $400,000 for a 25% stake in the company. The other Sharks urged the Ellsworths to accept the offer, which they did.
What makes this story even more remarkable is that Allison was nine months pregnant when they flew to Los Angeles for the Shark Tank filming. After the episode aired, Mother Beverage experienced an immediate surge in demand, completely selling out of products on their online platform.
Following the Shark Tank appearance and with Oza’s guidance through CAVU Ventures, the company underwent a complete rebrand in 2020, emerging as “Poppi”—a playful nod to “soda pop” that emphasized its positioning as a better-for-you alternative. The glass bottles with cursive “mother” script were replaced by vibrant, colorful cans featuring bold fruit imagery that appealed to a younger demographic.
The numbers tell the story: Poppi’s explosive revenue growth
Poppi’s financial performance explains why PepsiCo was willing to pay $1.95 billion for the brand. The prebiotic soda company didn’t just grow—it exploded across every major business metric that matters to beverage industry investors.
Revenue growth that caught PepsiCo’s attention
The yearly revenue figures read like a startup success manual. Poppi’s financial trajectory launched from $13 million in 2020 to $500 million by 2024—nearly 38x growth in just four years.
Here’s how that growth unfolded:
- 2020: $13 million (official brand launch year)
- 2021: $26 million (100% year-over-year growth)
- 2022: $65 million (150% year-over-year growth)
- 2023: $100 million (54% year-over-year growth)
- 2024: $500 million (400% year-over-year growth)
What makes these numbers particularly impressive is how Poppi maintained triple-digit growth rates through most of its journey. By 2023, the company had become the #1 best-selling soda on Amazon, demonstrating its strength in both online and retail channels.
From 200 stores to nationwide presence
Poppi’s distribution story mirrors its revenue growth. The brand started in around 200 stores as Mother Beverage and systematically expanded its retail footprint.
By 2021, you could find Poppi in over 20,000 retail stores nationwide. That number jumped to more than 36,000 locations by 2024, spanning major chains like Target, Whole Foods, Costco, and CVS.
This widespread availability across 120+ retailers created what analysts call a “visibility multiplier effect”—more shelf space led to higher brand recognition, which drove repeat purchases exceeding 40%.
Market dominance in a growing category
Poppi didn’t just participate in the prebiotic soda market—it dominated it. As of Q1 2025, the brand commanded 34% of the functional soda market, establishing clear leadership in a category growing at 12.37% annually.
The prebiotic soda numbers are even more striking. Poppi captured 19% market share, outpacing beverage giant Coca-Cola’s 12.7% share in the same space. Most remarkably, Poppi overtook competitor Olipop in wholesale sales share by mid-2024, cementing its position as the category leader.
This dominance occurred during a period when the functional beverage market grew 54% between 2020 and 2024 to reach $9.2 billion. With the broader functional beverages market projected to reach $339.6 billion by 2030, you can see why PepsiCo moved quickly to secure this fast-growing brand.
How branding built a billion-dollar beverage
Poppi’s $1.95 billion valuation didn’t happen by accident. The company built a branding strategy that turned a prebiotic soda into a cultural phenomenon, with community-first marketing, celebrity partnerships, and viral campaigns driving much of their growth.
The influencer strategy that actually worked
Most brands chase influencers for quick visibility. Poppi focused on building genuine relationships instead. Their collaborations with celebrities like Post Malone, Hailey Bieber, Kylie Jenner, and Billie Eilish reached younger consumers where they were already spending time. The results speak for themselves: 204 million impressions and 2.3 million engagements in 2023 alone.
Poppi’s attention to detail set them apart from typical influencer campaigns. They created memorable unboxing experiences with colorful packaging and exclusive merchandise like their viral Poppi sweatsuit. Their campus ambassador program received over 4,000 applications, ultimately welcoming 100+ ambassadors who drove 14 million impressions across college campuses.
Super Bowl success and mainstream breakthrough
Poppi’s debut Super Bowl commercial became the most-watched ad of the game with 29.1 million views, creating massive growth in brand awareness and sales. This advertising milestone marked their transition from grassroots marketing to mainstream visibility.
Their second consecutive Super Bowl appearance in 2025 featured popular influencers like Jake Shane and Alix Earle. Even their controversial vending machine campaign generated extensive social media discussion, keeping Poppi in cultural conversations.
Building beyond the beverage
“We’re more than a soda brand – we are a lifestyle brand,” stated founder Allison Ellsworth.
This philosophy showed up in several ways:
• Exclusive merchandise that inspired fans to coordinate outfits with their favorite Poppi flavors
• Interactive pop-up experiences like “Poppi World” during New York Fashion Week, which generated 63 million impressions from 360 creators
• Gaming integrations including Fortnite activations targeting Gen Z and Gen Alpha audiences
This community-building approach created what PepsiCo recognized as a “culture-first” brand that connected powerfully with millennial and Gen Z consumers. The loyal community became a key asset in Poppi’s overall valuation, making it an attractive acquisition target for PepsiCo in 2025.
Challenges along the way: Lawsuits and market competition
Poppi’s path to a $1.95 billion valuation wasn’t without obstacles. The prebiotic soda brand faced significant legal challenges and intensifying competition that tested its business model and marketing strategy.
The $8.9 million class action lawsuit
Legal trouble arrived in 2024 when consumers filed a class action lawsuit claiming Poppi falsely advertised its products as “gut healthy” without sufficient scientific evidence. The company agreed to an $8.9 million settlement by mid-2025 to resolve these allegations.
The lawsuit targeted a core issue: Poppi contained only two grams of prebiotic fiber—an amount allegedly too low to provide meaningful gut health benefits. Settlement terms allowed consumers who purchased Poppi between January 2020 and July 2025 to receive refunds ranging from $0.75 per can to $9.00 for multi-packs.
Health claims under scrutiny
Nutrition experts questioned Poppi’s health marketing approach. “I don’t think we should be looking to soda or processed foods to support our gut health,” stated Caitlin Dow, a senior nutrition scientist at the Center for Science in the Public Interest.
The scientific evidence posed a problem. Adults need at least 5 grams of prebiotics daily to see genuine benefits—more than double what Poppi provides. Facing this pressure, the company removed “gut healthy” claims from its packaging and website.
Competition heats up in functional beverages
Olipop presented Poppi’s biggest competitive challenge, offering 9 grams of prebiotic fiber compared to Poppi’s 2-3 grams. The functional beverage market expanded to over $13 billion, attracting more players and investment.
“Identity will be a key factor as better-for-you sodas move from niche to mainstream,” noted Matt Herbert, CEO of brand tracking platform Tracksuit. Despite these challenges, Poppi held its ground. Research showed 19% of U.S. soda households preferred prebiotic sodas over traditional diet options.
The competition and legal issues highlighted the growing pains that come with rapid success in a category still defining itself.
The billion-dollar takeaway
Poppi’s path from kitchen experiment to $1.95 billion acquisition shows what’s possible when you identify a real consumer need and execute relentlessly. Allison and Stephen Ellsworth took a simple health remedy that tasted terrible and turned it into a lifestyle brand that captured an entire generation.
The story offers clear lessons for anyone building a consumer brand. Poppi succeeded because they balanced health benefits with genuine taste appeal—something many functional beverages struggle with. They built community before they built profits, creating authentic connections with consumers who became brand evangelists.
The challenges were real too. Legal scrutiny over health claims and fierce competition from rivals like Olipop showed that rapid growth brings intense pressure. Poppi navigated these hurdles by staying focused on their core audience while adapting their messaging when necessary.
PepsiCo’s acquisition validates the functional beverage market’s potential. The deal gives the beverage giant immediate access to health-conscious consumers who have moved away from traditional sodas. For the broader industry, it signals that major players recognize functional beverages as the future, not just a trend.
If you’re building a consumer brand, Poppi’s journey demonstrates the importance of authentic storytelling, community building, and persistence through skepticism. The Ellsworths faced rejection from most Sharks on Shark Tank but found the right partner in Rohan Oza, whose strategic guidance proved invaluable.
The functional beverage market continues expanding rapidly, creating opportunities for brands that can deliver genuine health benefits with mass appeal. Poppi proved that with the right approach, a kitchen experiment can become a billion-dollar business.
FAQs
Q1. What is Poppi’s current valuation?
Poppi was acquired by PepsiCo for $1.95 billion in 2025, marking a significant milestone in the functional beverage industry.
Q2. How did Poppi start?
Poppi began as a kitchen experiment by Allison Ellsworth, who created a palatable apple cider vinegar drink to address her health issues. The product was initially sold at farmers markets in Dallas.
Q3. What was Poppi’s revenue growth like?
Poppi experienced explosive growth, with revenue increasing from $13 million in 2020 to $500 million in 2024, representing a nearly 38-fold increase in just four years.
Q4. How did Poppi build its brand?
Poppi built a lifestyle brand through influencer partnerships, viral marketing campaigns, and community engagement. They also made strategic moves like airing Super Bowl commercials to increase brand awareness.
Q5. What challenges did Poppi face?
Poppi faced a class action lawsuit over health claims, resulting in an $8.9 million settlement. They also encountered scrutiny from nutrition experts and competition from rival brands in the growing functional beverage market.