SquareKeg is a company that has developed the Portable Stainless Steel SquareOne Mini Keg for long-term beverage storage. This mini keg has a capacity of 128 oz, allowing you to store a variety of drinks, including craft beer, batched cocktails, kombucha, mocktails, and both red and white wine.
The keg utilizes 16-gram CO2 cartridges and nitrogen to keep drinks fresh for an extended period. Its portable design makes it ideal for various occasions, such as parties, boating, camping, RVing, tailgating, and golfing.
SquareKeg offers two editions: Mini and Nitro, priced at $249 and $399, respectively. These products are available on the company’s website as well as on Amazon.
| Company Name | SquareKeg |
| Founder | Tim Louks |
| Founded | 2017 |
| Product | beverage containment solutions for craft beer |
| Asked For | $300K for a 10% equity |
| Final Deal | $300K for a 20% equity |
| Shark | Kevin O’Leary |
| Episode (Shark Tank USA) | S14 E6 |
| Air Date | Nov 11, 2022 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Spokane, Washington, United States |
| Go To Amazon | Buy Now |
Another Shark Tank Pitch
Who Is The Founder Of SquareKeg?
Tim Louck is the president of SquareKeg Company. He has a background in sales and accounting. After earning his Bachelor of Arts in Business, Communications, and Life Sciences from Eastern Washington University, Tim served as an account manager at Burkhart Dental for one year.
Following that, he worked as an Enterprise Sales Director at Spok for two years. Additionally, he spent nine years as a sales representative at Stryker, a company specializing in medical devices and equipment manufacturing.
How Was The Shark Tank Pitch Of SquareKeg (SquareOne)?
Tim Louck entered Shark Tank with his product, SquareOne, seeking $300,000 for a 10% equity stake. During his pitch, Louck thoroughly explained the product and its intended purpose.
Peter Jones remarked that the $3 million valuation was impressive and expressed confidence in the product’s potential for success. The SquareOne has a retail price of $259 and a manufacturing cost of $130. To reduce production costs, Louck established his own manufacturing facility in 2021.
Daymond John was not impressed with the product and opted out. Lori Greiner, Peter Jones, and Mark Cuban also declined to invest, citing their reasons.
However, Kevin O’Leary made an offer of $300,000 for a 20% equity stake. Louck countered with a request for 15% equity, but O’Leary refused. Ultimately, Louck agreed to O’Leary’s original offer of 20% equity.
Finalize: Kevin O’Leary invested $300K in “SquareKeg” for 20% equity.
What Happened To SquareKeg (SquareOne) After Shark Tank?
None of the sharks expressed interest in the SquareOne product except for Kevin O’Leary, who requested a 20% equity stake. Although Tim Louks, the entrepreneur, attempted to negotiate, the deal was ultimately finalized at 20% equity.
The SquareOne product did not resonate well with the sharks, and there were few viewer opinions shared on Twitter. However, it is anticipated that interest will grow after the show, with the product available for purchase on Amazon.
In November 2022, a “Shark Tank Exclusive $100 off” promotion was running on the SquareOne website.
Tim Louks delivered a strong presentation on Shark Tank, impressing Kevin O’Leary, who recognized the product’s potential to keep beverages fresh for an extended period. O’Leary’s expertise in the beverage industry, coupled with his financial backing, makes him a valuable partner for the business.
This segment aired in Shark Tank Season 15, Episode 14. Louks revealed that the company’s lifetime sales before appearing on the show were $1.4 million, and sales surged to $3.5 million within a year after the deal.
Following the Shark Tank appearance, Mark Cuban also invested in the business, implementing effective marketing strategies that significantly boosted sales. O’Leary introduced SquareOne to prominent players in the beverage industry, further accelerating the product’s success.
We will continue to follow Tim Louks and SquareKeg for further updates.
What Is SquareKeg Net Worth?
The SquareOne Mini Keg is a high-quality container designed to keep beverages fresh. However, its premium price point makes it less accessible for many consumers, which has affected sales performance. Currently, SquareKeg’s net worth is estimated to be around $2 million.
Yes, SquareKeg is still in business as of February 2024.
