Thrive+ Hangover Supplement
NO DEAL
EPISODE SUMMARY
🕓 Air Date: February 25, 2018
Asking For:
$400,000 for 10%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Thrive+ is a hangover cure in the form of a dietary supplement that aims to reduce the negative effects of alcohol consumption.
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Background Story
Brooks Powell, the founder of Thrive+, graduated from Princeton University and started working full-time on his business three months prior. Thrive+ was conceived during Powell’s college years and developed with the assistance of a Princeton neuroscience professor, a chemical patent law specialist, and a pharmaceutical manufacturer. Powell identified the absence of a product designed to mitigate the negative effects of alcohol consumption, leading to the creation of Thrive+.
The formula is based on dihydromyrecetin, a compound found in Asian remedies for post-alcohol recovery. Powell, backed by a $2.5 million government research grant and published in the Journal of Neuroscience, claims that his product has undergone scientific validation. The goal is to provide a healthier and more responsible way to consume alcohol.
The Product
Thrive+ is a dietary supplement that addresses the negative effects of alcohol consumption. The formula includes dihydromyricetin, a compound purported to reduce short-term alcohol withdrawal and support the liver’s processing of alcohol and its byproducts.
Users are instructed to take three capsules after their last alcoholic beverage or before going to bed. The uniqueness lies in the use of dihydromyricetin, backed by a study funded through a government research grant and published in the Journal of Neuroscience.
However, challenges arise due to dihydromyrecetin’s low bioavailability (4%), meaning only a small portion is absorbed into the bloodstream. To overcome this, Powell discusses the use of nanoparticles, a technology licensed by Princeton, to enhance bioavailability. The product is primarily marketed online, with plans to avoid retail for two to three years.
How It Went
The company’s position before Shark Tank
The company’s current status is not extensively discussed. However, Powell emphasizes that they plan to avoid retail for the next two to three years, relying on online sales. The target audience is individuals between the ages of 35 and 55. Thrive+ is positioned as a unique solution in the supplement market, combining scientific backing and innovative technology.
Insufficient information is provided about the company’s partners, wholesalers, and customers. Powell mentions the need for significant marketing investments, including TV and radio ads, to enter the retail market. The financial health, profits, losses, available capital, and overall company structure are not detailed.
The Negotiations:
The negotiations took a challenging turn with Mark Cuban expressing skepticism about dietary supplements and interrupting the pitch with questions about the scientific validity of the product. Other sharks joined in questioning the unique selling points and market strategy. Robert Herjavec and Bethenny Frankel criticized the presentation for lacking clarity on the target audience and marketing strategy. Mark Cuban ultimately declared himself out due to his disinterest in the alcohol business.
Lori Greiner, Daymond John, and Bethenny Frankel followed suit, citing concerns about the early stage of the product, the need for extensive testing, and the substantial investment required for marketing. The negotiation ended without a deal, leaving Brooks Powell disappointed. The sharks criticized the pitch for lacking control and clarity. Despite the rejection, Powell remained optimistic about the future success of Thrive+ and believed the sharks might regret their decision in the future.
