Not everyone wants to drink alcohol while socializing. If you’re one of these people, Ghia’s non-alcoholic drinks might be for you. They claim to capture the spirit of alcoholic drinks without alcohol. Ghia’s founder, Melanie Masarin appeared on season 14 of Shark Tank but didn’t get a deal. Based on the latest funding round, Ghia is valued at $50 million.
Who is Melanie Masarin?
Melanie Masarin grew up in Lyon, France but relocated to Rhode Island, to study economics at Brown University. Eventually she settled in Los Angeles, where she launched Ghia.
The French beauty worked as a financial analyst at Goldman Sachs and moved to American Eagle Outfitters to serve as their corporate strategy associate. Melanie’s CV also includes senior roles at the DIG restaurant chain and Glossier.
The Story of Ghia
As a kid, Melanie’s family enjoyed the Mediterranean aperitivo culture during the summer. They gathered, cooked, and ate with friends until dawn. Of course, alcoholic drinks were present. Melanie wanted to recreate the same atmosphere without involving alcohol.
Melanie started Ghia in November 2019 and raised a seed round of $480,000 from two investors. The company gained traction with the rise of the sober-curious movement.
Furthermore, her brand was recognized as the first non-alcoholic drink to receive the Esquire Drink of the Year award in 2020. A year later, Ghia’s year-over-year wholesale revenue grew from $10,000 to an impressive $180,000.
Strong Growth Since Shark Tank
Since its appearance on Shark Tank, Ghia has continued to expand its footprint and valuation, moving toward an estimated $50 million valuation. The beverage company forecasted sales of $4.5 million in 2022 and made above $7 million in 2024.
Melanie Masarin successfully raised the $6.5 million she referenced in her pitch and retains a majority ownership share. Ghia’s product line has grown beyond its original aperitif and canned spritzes to include new flavors like Sumac & Chili and Le Fizz, plus branded accessories and gift sets.
Ghia drinks can be purchased on DrinkGhia.com and at selected restaurants, bars, and hotels in the US. The drink is available in over 57 countries through their partnership with Mayple!
It can be bought in over 2,800 bars, stores and restaurants in the US, Canada and Costa Rica. Ghia’s best-selling drink, the Apéritif, benefits from the Dry January trend. Orders increased by 132% in the last Dry January for Ghia Berry.
Ghia has an average rating of 4.2 stars from over 530 reviews on ThingTesting.com. The company has some celebrity customers including Antoni Porowski and Priyanka Chopra. Currently, Ghia is valued at $50million based on the last round of funding. If Ghia can manage to reach $20 million in annual sales, it’s likely they will be acquired by a large drinks company.
Facing the Sharks
Melanie made a confident pitch and handed out samples to the Sharks. Ghia had strong sales to back up its valuation. In 2021, the company made $2.5 million in sales but lost under a $1 million which had the Sharks groaning.
To make matters worse, she raised $3.5 million and was in the process of raising $6 million at a $41 million valuation. Melanie owned a 57% stake and was giving away her equity at a discount to bring on a Shark. Sharks dislike it when companies constantly raise money as most likely their equity will get diluted in the future.
Robert made an offer, giving her exactly what she wanted but withdrew his offer as Melanie wanted to hear Kevin’s proposal. Kevin made a greedy offer of $250,000 for 10% but she couldn’t accept it as the equity was too high.
