Business of Drinks

Hosted by Business of Drinks

BusinessInterviews guests

Website RSS feed LinkedIn YouTube

Episodes

145

Latest episode

Oct 2026

Language

EN-US

About the show

Welcome to the Business of Drinks, where we go behind the bottle, interviewing beverage innovators and icons about how they built their businesses. We take a data-driven approach, analyzing the brands, products, and categories that get consumers excited. And we cover many drinks categories — from wine, beer, and spirits to non-alcohol drinks — as well as THC, adaptogen, and functional beverages. So whether you’re working in drinks — or just interested in the stories behind your favorite brands — join us each week as we explore how companies are unlocking growth at every stage in the game.

Listen to episodes

60 recent

October 21, 202654 min

139: How Girl Beer Found Growth in Beer’s Overlooked Consumer With Ray Biebuyck

What would it take to get more women drinking beer? For Hurray’s Girl Beer founder and CEO Ray Biebuyck, that question became the starting point for a brand that has grown its distributor count 12x in the past six months and expects 10x year-over-year growth in 2026. Driving that expansion: New Kroger doors coming onboard, alongside expansion with Walmart, Albertsons, H-E-B, Hy-Vee, and Wegmans. Launched in fall 2024, Girl Beer has raised a $5M seed round and is targeting 3,000 retail doors by year’s end. Before launch, Ray surveyed about 2,000 women to understand what was keeping them out of the category. Roughly 60% said beer didn’t offer enough flavor or interesting flavor options. And 75% couldn’t distinguish among common beer styles -- a potential barrier when shopping the aisle. Those findings shaped Girl Beer’s flavored light lager, straightforward positioning, and pitch to retailers: Bring a new shopper into the beer category. In this episode of Business of Drinks, Ray joins us to unpack how she translated that research into a product, a distinctive brand voice, and a retail growth strategy. She explains how she used burner TikTok accounts to test humor and messaging before launch, and how the brand answered early skepticism with performance: Ray says Girl Beer reached the top 10% of velocities at Whole Foods. The audience has also proved broader than the name might suggest. Nearly a third of Girl Beer consumers are men. Ray gets candid about eight months of self-distribution in Southern California that she says set the business back, and why Arizona became a stronger expansion model, with statewide distribution, chain commitments, and a sales rep in place. We also explore why Girl Beer seeks shelf space alongside seltzers and RTDs, how Ray connects marketing spend to retail availability, and what the brand’s Dallas Wings partnership offers in audience access and sampling opportunities. It’s a practical conversation about understanding the consumers your category is missing -- and building the product, positioning, and distribution to reach them. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

October 14, 202655 min

138: What Actually Sells Drinks in Restaurants With Brian Evans

In 2025, Sunday Hospitality Group served 1.2 million alcoholic and non-alcoholic beverages across eight venues, including the Lobby Bar at Hotel Chelsea, Sunday in Brooklyn, Rule of Thirds, and Dynamo Room. Add coffee, tea, and soft drinks, and that number rises to 1.5 million. Brian Evans, the group’s director of bars, joins Business of Drinks to unpack the decisions behind those numbers -- from designing cocktails that sell to building systems that keep service moving and understanding what guests actually want. At Hotel Chelsea, a signature cocktail called Mercury Pool barely sold. Renamed the 1884 Martini, it became the Lobby Bar’s most popular cocktail. Brian explains why familiar names and concise menu descriptions can make adventurous drinks easier to order -- and why even a drink guests love can prove too costly or cumbersome to keep serving. Speed shapes the entire program. Most menu cocktails require just one to four touches, and Dynamo Room has five freezers behind the bar stocked with batched martinis for the pre–Madison Square Garden rush. Brian breaks down how preparation affects the guest experience, profitability, and the chance to sell another round. For suppliers and distributors, he offers a candid look at what earns his attention: Let him taste before launching into the brand story, understand how the product fits his venues, and bring support that benefits the team. He shares how High Road Spirits has built a strong relationship through education, access to producers, and thoughtful hospitality. We also explore what’s changing on the restaurant floor: Fewer rounds at the Brooklyn venues, familiar classics gaining ground, and a nuanced picture of non-alcoholic demand, with steady NA cocktail sales alongside a surge in coffee and tea at Rule of Thirds. For anyone selling into restaurants or running a beverage program, this conversation connects product appeal, buyer priorities, and the operational details that determine whether a drink earns its place. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

October 7, 202653 min

137 Why Whiskey Brand Lost Lantern Builds Demand Before Distribution With Nora Ganley-Roper

Lost Lantern just hit $1 million in revenue over the trailing 12 months, and its velocity is increasing. After growing sales 10% in 2025, the whiskey brand forecasts doubling them in 2026. Its approach to expansion starts with evidence that consumers already want its bottles. In this episode, Nora Ganley-Roper, co-founder, general manager, and head of blending at Lost Lantern, joins Scott Rosenbaum to explain how the company builds that demand -- and uses it to make better decisions about distribution. An independent bottler, Lost Lantern buys mature whiskey from distilleries across the U.S., then selects and blends distinctive releases. It has launched more than 100 SKUs, some totaling just 200 bottles. For its first three years, e-commerce did much of the heavy lifting, and its newsletter became a testing ground for which products and stories inspired purchases. That feedback strengthened the retail pitch. The team could explain who would buy a bottle, why it fit a particular store, and how Lost Lantern would help drive sales. When releases sold out online, the newsletter could send customers to retailers that still had them. Nora explains the three things Lost Lantern needs before expanding: consumer demand, the right stores, and a distributor that fits the brand. With a team of six, the company also has to weigh whether it can provide the support a new market requires. Its latest project, the United States of Bourbon, shows how a broader product can accelerate growth. The blend of straight bourbon from all 50 states generated online sales at about 3x forecast, while wholesale’s share of company sales rose from 40% in Q1 to 55% in Q2. We dig into: How e-commerce reveals what customers will buy. What makes a retail pitch compelling. Why distributor interest alone doesn’t justify expansion. How limited releases build an audience for broader growth. What it takes to support placements once you’ve won them. For anyone weighing a launch or expansion, Nora offers a practical look at how consumer demand can guide where -- and how -- a drinks brand grows. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

September 30, 202657 min

136 How Badger Bevs Grew 230% Through Bars and Restaurants With David Vogel

Badger Bevs sold more than 100K 9L cases in 2025, growing more than 230% YOY. Yet more than 95% of its sales still come from restaurants, bars, and hotels. Founder and CEO David Vogel made a deliberate choice to build the premium mixer brand in the on-premise first. Drawing on his experience at Blue Buffalo and The Chef’s Warehouse, he saw an opening for a mixer designed for high-end hospitality -- and a chance to earn the trust of bartenders and beverage directors before pursuing broad retail distribution. That trust took work. In New York, David walked into bars with samples and was often turned away. Buyers might like the tonic or ginger beer, but they also needed to know Badger could deliver consistently. Today, the brand has more than 1,000 customers in that market and sells in 33 states. In this episode, David explains how Badger expanded one market at a time, why delivery frequency and service matter as much as a distributor’s reach, and what it takes to support accounts after the first sale. We also get into the product choices behind the growth -- from bartender input on flavor and carbonation to a resealable bottle designed around how cocktails are made behind American bars. For drinks founders, it’s a useful look at how a brand can grow quickly while staying focused on the customers it set out to serve. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

September 23, 202651 min

135: The Investor’s Test for Scalable Growth With Jason Sherman

Getting into more doors is not the same as building a scalable drinks business. As brands move beyond founder-led sales, the burden of proof changes. Early on, strong velocity and repeat purchase may be enough to attract investment. But by $3M-$7M in revenue, investors want to see rising same-store sales, faster reorders, and evidence that the team understands exactly what is driving growth. And before raising a $10M+ round, experimentation is no longer a strategy: Founders need a repeatable playbook showing how each new dollar will translate into accounts, reorders, and sustainable expansion. Few investors have seen that transition from as many sides as Jason Sherman, co-founder and managing partner of Top Shelf Ventures. At AB InBev’s ZX Ventures, he was part of a team that completed about 200 deals and nearly $1B in investments and acquisitions. He later founded TapRm, an e-commerce platform and beer distributor serving close to 5K New York City accounts. Today, he backs early-stage companies across beverage and other “vice” categories. We discuss: 🔸 Why Top Shelf uses roughly $1K in annual sales per retail door as an initial benchmark -- and points to their portfolio company Gratsi at $4K-$5K as an outlier 🔸 Why a 5K-account footprint means little if 4K accounts sell only $50-$100 annually 🔸 What investors expect at different stages, from sub-$1M brands to companies preparing for major growth rounds 🔸 How to turn founder-led selling into a repeatable market-expansion playbook 🔸 Why brands should move beyond self-distribution early -- and choose distributors based on attention rather than size 🔸 Why financial fluency around inventory, working capital, and cash flow becomes essential as a company scales This episode is a practical guide to the moment when founder hustle must become a system. For drinks entrepreneurs preparing to raise capital, enter new markets, or build a larger sales organization, Jason lays out how to prove that growth is repeatable -- and that the business is ready to support it. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

September 17, 202647 min

How PIÑATA Is Bringing Beverage Field Marketing Out of Excel With Ian Ferguson

You’re paying for tastings, winning placements, and sending teams into the field. But can you tell which of those investments are actually driving sales? For too many drinks companies, the answer is no. The relevant data is buried in spreadsheets, email chains, and program recaps that arrive months after the money is spent. In this sponsored episode of Business of Drinks, Erica Duecy sits down with Ian Ferguson, CEO of PIÑATA, to explore how brands can connect what happens in the field to the numbers that guide their next investment. The conversation grew out of our interview with Saint Spritz’s Ben Patton, who revealed that the brand uses PIÑATA to manage its nationwide team of roughly 100 brand ambassadors. But the opportunity extends well beyond scheduling tastings: It’s about helping sales, marketing, distributors, and agencies act on the same information. One example: Ian says PIÑATA has seen sell-through nearly double when in-store activations were backed by an end cap display. Yet the teams booking tastings often don’t know where those displays are happening. PIÑATA helps surface those details across teams and agencies. We dig into: Why sampling ROI can be misleading: A tasting that helps win an opening order serves a different purpose from one supporting inventory already on the shelf. Measuring them the same way can lead to the wrong conclusions. What happens after a national account win: How to turn an authorization into actual placements, communicate expectations to distributors, and spot gaps in execution. How to measure trade relationships: Connecting bartender engagement and event guest lists to account performance over time. Where lean teams waste resources: From tastings at stores with no inventory to multiple people calling on the same accounts while others go unsupported. What emerging brands need to prove next: Working backward from a buyer or distributor meeting to capture the evidence that will help open doors. For anyone trying to make a limited commercial budget work harder, this conversation gets specific about where to start. For more information, visit www.gopinata.com For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

September 16, 202651 min

134: How Bizzy Coffee Built a $50M+ Brand With Alex French

Bizzy Coffee has grown revenue 175% over the past three years, crossing $50 million in annual revenue, producing more than 1 million bottles a month, and reaching 12,000+ stores nationwide. But the playbook behind that growth is surprisingly unglamorous. In this episode of Business of Drinks, we talk with Alex French, Co-Founder and CEO of Bizzy Coffee, about how the company built scale by obsessing over product-market fit, pricing, repeat purchase, velocity, and distribution. One of Bizzy’s biggest breakthroughs came from a conversation Alex had while personally sampling coffee in a grocery store. A customer loved Bizzy’s cold brew concentrate -- but didn’t realize she was supposed to dilute it. That interaction helped inspire a major pivot toward the lower-priced, 48-ounce ready-to-drink format that now anchors the business. Rather than chase the single-serve cans dominating beverage innovation, Bizzy focused on becoming what Alex calls “the pot of coffee of the next generation” -- an affordable, customizable cold brew designed primarily for consumption at home. Alex also explains why price promotion has become one of Bizzy’s most important customer-acquisition tools. The strategy: Use pricing and packaging to drive trial, deliver a product people love, and turn that first purchase into repeat velocity. Bizzy is now increasing velocities even as it adds distribution -- with Alex estimating the brand still has roughly twice its current store base left to pursue. We also get into: • How Amazon became both a sales channel and consumer-insights engine• Why Bizzy brought manufacturing in-house -- and the risks of doing it yourself• How the company finally reached profitability in 2024, then faced soaring coffee costs and tariffs• The operational push that ultimately improved extraction yields by roughly 33%• Why Alex sees greater opportunity in format innovation than another new flavor• How Amazon search behavior helped inspire Bizzy’s new double espresso shots It’s a candid look at what scaling a beverage business really requires -- and why sustainable growth often comes down to getting the fundamentals right, over and over again. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

September 9, 202648 min

133: Why “Vice Wellness” Could Drive the Next Beverage Boom With Jeff Cantalupo

The best investors aren’t just just identifying great brands. They’re identifying shifts in consumer behavior before everyone else sees them. That’s the approach Jeff Cantalupo, Founder and Managing Partner of Listen Ventures, has taken throughout his career — from a decade in brand strategy at Leo Burnett to investing in companies including Angel’s Envy, Go Brewing, Delta Beverage, and Magic Cactus. Listen starts with the consumer. The firm conducts its own research — from ethnographies and interviews to literal tours of consumers’ fridges and freezers — looking for changes in behavior that could create the next big category or brand. One shift Jeff is particularly bullish on is “vice wellness.” Historically, some of the strongest consumer businesses have been built around ritual, identity, and repeat behavior. Now, as wellness becomes increasingly important to consumers, Jeff sees opportunity in products that combine those powerful behaviors with “wellness permission.” In drinks, that’s helping fuel what Listen calls the “social beverage” — from non-alcoholic beer to hemp-derived THC and other functional beverages. The thesis isn’t that alcohol is disappearing. It’s that consumers are becoming more intentional about what they drink for different occasions — and that’s creating space for entirely new choices. In this episode, we dig into: • The three types of innovation Jeff looks for: Product, business model, and brand narrative• Why repeat purchase, CAC payback, margins, and unit economics matter more than hype• Why omnichannel capabilities have become table stakes for beverage brands• What Listen saw in Go Brewing, Delta Beverage, and Magic Cactus• Why vertical integration can sometimes create a competitive advantage• What made Angel’s Envy investable — and why timing was critical to its success• Why a great consumer business isn’t necessarily a venture-backable business• How founders can conduct meaningful consumer research without a big budget Plus, Jeff shares one deceptively simple branding question he teaches at Northwestern’s Kellogg School of Management: What business are you actually in? You may sell beer, tequila, or THC seltzer. But the brands that break through often own something bigger — an occasion, a feeling, or a consumer need. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

September 2, 202645 min

132: How Gratsi Is Scaling Boxed Wine Past 500K Cases With Stephen Vlahos

Gratsi’s boxed-wine business began as a pandemic pivot. It became the foundation for one of the category’s most notable growth stories. After selling more than 375K 9L case equivalents last year, the company expects to grow 30%+ this year to exceed 500K cases — driven by subscriptions, repeat purchases, and a carefully sequenced expansion into wholesale. Founder and CEO Stephen Vlahos originally launched Gratsi in a half-bottle format designed for casual bars and restaurants. When COVID shut down most of those accounts, he needed a product that could work DTC. Bag-in-box was lighter and less expensive to ship, while offering consumers wine that remained fresh for weeks after opening. Rather than persuading value-oriented boxed-wine drinkers to trade up, Gratsi targeted consumers accustomed to buying $20+ bottles. It reframed the box around quality, freshness, convenience, and value, then wrapped it in a simple, Mediterranean-inspired brand that strips away much of wine’s traditional complexity. That DTC foundation is now giving Gratsi an unusual advantage in wholesale. Before entering a market, the company can identify existing customers, gather store requests, and activate local demand. Once wholesale launches, retail can quickly become roughly 80% of its volume in that state — even as DTC continues to grow. In this episode, we discuss: How Gratsi grew from 2K cases to 75K cases before entering wholesale How it built nearly 30,000 subscribers averaging approximately three boxes per month How DTC data helps “warm up” a retail market before launch Why Gratsi is building geographic density instead of pursuing national distribution all at once Why its lifestyle content often barely features the product What Stephen means by “escape competition with authenticity” For drinks entrepreneurs, Gratsi offers a compelling playbook for using DTC not as the final destination, but as the foundation for much larger retail growth. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

August 26, 202639 min

131: Is Your Beverage Brand Actually Venture-Backable? With Nate Cooper

What makes a beverage brand truly investable — and should founders be raising venture capital at all? In this episode of Business of Drinks, we sit down with Nate Cooper, founder and managing partner of Barrel Ventures, to unpack what investors are actually looking for in emerging food and beverage companies — and why building a great business and building a venture-backable business are not necessarily the same thing. Nate has been on both sides of the table: First as an operator, and now as an investor in companies including Olipop, Partake, Nowadays, and Ultra. That experience has shaped a candid view of capital, growth, and what really creates investor conviction. For beverage brands, Nate would rather see strong velocity than a huge door count. He pays close attention to repeat purchase, pricing, gross margin potential, and whether founders really know their numbers. And when it comes to financing, his advice is simple: Raise more than you think you need, spend less than you think you have — and don’t assume venture is always the smartest money. We also get into the consumer shifts Nate believes could reshape beverage over the next several years. He explains what he saw in Olipop before the category existed, why non-nicotine pouches could become a major competitor to functional drinks, how wearables may be changing alcohol consumption, and why he believes hemp-derived THC beverages could become far bigger than the industry expects. Plus: Why velocity matters more than distribution alone What founders need to know before pitching investors Why billion-dollar outcomes are far rarer than startup culture suggests How brands should navigate the “messy middle” of scaling Why the next competitor to your drink may not be a beverage at all If you’re raising capital, planning to raise, or simply trying to understand how investors evaluate emerging brands, this episode is packed with practical takeaways. For the latest updates, follow us: Business of Drinks website (sign up for our newsletter!) Business of Drinks YouTube Business of Drinks LinkedIn Instagram @bizofdrinks Erica Duecy, co-host: Erica Duecy is founder and co-host of Business of Drinks and one of the drinks industry’s most accomplished digital and content strategists. She runs the consultancy and advisory arm of Business of Drinks and has built publishing and marketing programs for Drizly, VinePair, SevenFifty, and other hospitality and drinks tech companies. Erica Duecy LinkedIn Instagram @ericaduecy Scott Rosenbaum, co-host: Scott Rosenbaum is co-host of Business of Drinks and a veteran strategist and analyst with deep experience building drinks portfolios. Most recently, he was the Portfolio Development Director at Distill Ventures. Prior to that, he was the Vice President of T. Edward Wines & Spirits, a New York-based importer and distributor. Scott Rosenbaum LinkedIn Subscribe to the Business of Drinks channel for more insights on how brands, retailers, and operators are unlocking growth across beverages. And please rate and review us. Your support helps us reach new listeners. Thank you!

Is this your show?

Claim this listing to keep it up to date, reach guests who want to pitch you, and manage bookings with Guestify.

Claim this listing

More Business podcasts

The Bottom Line

Alexander Spencer