Chill Soda

Chill Soda was a soft drink positioned as a better for you option, marketed with fewer calories and a cleaner nutritional profile than mainstream sodas. The problem it aimed at was the consumer who wanted the experience of a soda without all the sugar and calories. Founder Dan Mackey, based in Sausalito, California, built the brand around that healthier alternative message and the distinctive look of his bottles.

Mackey came in offering a small slice of equity for his investment. Barbara Corcoran made an offer at a higher equity stake than he proposed, and he accepted it even as other sharks warned about how brutal the beverage business can be. The crowded, capital hungry nature of the soda category was a recurring theme in the room.

The segment stood out partly because of those warnings. Beverages are notoriously hard to scale against entrenched giants, and the other sharks were skeptical. Corcoran's willingness to take a swing on a small soda brand, against that skepticism, made the deal a memorable gamble rather than a sure thing.

The partnership proved difficult. Mackey and Corcoran reportedly disagreed on distribution strategy and could not align on how to take the brand to market, and the fierce competition in the soda category left little room to maneuver.

Chill Soda did not survive. The company went out of business, with no meaningful online presence remaining after about 2020, and Corcoran has said she lost her investment in it. Mackey moved on to other ventures, including a later technology company, while the soda brand itself wound down.