Third Wave Water Update | Shark Tank Season 9

Coffee shop owners Charles Nick and Taylor Minor noticed that water quality significantly impacted coffee taste. They developed a “mineralization capsule” to add minerals to filtered water, aiming to improve coffee taste consistently. Do the sharks feel their homebrewed coffee needs a pick-me-up during the Season 9 pitch? Let’s find out in this Third Wave Water update.

If you’re short on time, here’s a quick overview of what happened to Third Wave Water after Shark Tank.

Charles and Taylor entered the Shark Tank hoping to secure $100,000 for 10% equity. After their pitch, they struck a deal with Barbara Corcoran for $100,000 for 25% equity and a $1 royalty per unit sold until $100,000 is paid back.

In terms of a Third Wave Water update, the company is still thriving. It has expanded its product line with new water profiles and barista tools, achieving an annual revenue of $1 million.

Shark	Result
Barbara Corcoran	Accepted offer of $100,000 for 25% equity and a $1 royalty per unit sold until $100,000 is paid back
Lori Greiner	No offer
Mark Cuban	No offer
Robert Herjavec	No offer
Kevin O’Leary	No offer

Shark Tank Third Wave Water Pitch

• Entrepreneurs: Charles Nick and Taylor Minor
• Business: Mineral stick to add to distilled water for brewing coffee
• Ask: $100,000 for 10% equity
• Result: $100,000 for 25% equity with a $1 royalty on each unit sold until $100,000 has been paid
• Shark: Barbara Corcoran

Charles Nick and Taylor Minor entered Shark Tank seeking $100,000 in exchange for a 10% equity stake in their innovative company, Third Wave Water.

They believe their unique product, a “mineralization capsule” designed to enhance coffee taste, has the potential to revolutionize the coffee experience. 

In their pitch, they introduce Third Wave Water as a simple solution to enhance coffee taste. They explain that it’s a “mineralization capsule” designed to be added to water, specifically recommending starting with reverse osmosis filtered or distilled water to provide a neutral base. 

This allows their capsules, containing a precise blend of minerals, to optimize the water for brewing the best possible cup of coffee. 

Explaining the science behind their product, the entrepreneurs highlight how adding a single capsule to a gallon of water introduces a carefully formulated blend of calcium, magnesium, and sodium. This specific combination significantly enhances the taste of coffee. 

Additionally, they bring their combined expertise in technology and coffee shop operations to the table, demonstrating their understanding of both the technical aspects and consumer preferences within the coffee industry. 

Their successful Kickstarter campaign in January 2017 raised over $26,000, validated the market demand for their product, and provided the initial momentum to bring Third Wave Water to a wider audience. 

Charles explained to the sharks that the capsules come in two distinct formulas, “classic style” and “espresso style,” catering to different brewing preferences. 

He told the sharks that a packet of 12 capsules, each treating a gallon of water, costs $15. 

The larger five-gallon option costs $25 for 12 capsules. This translates to roughly $0.08 per cup for the classic style and $0.03 per cup for the espresso style, making Third Wave Water a cost-effective way to enhance coffee quality. 

After their presentation, they invite the sharks to taste the coffee firsthand and offer them each two cups of coffee. One cup is brewed with tap water, while the other uses its treated water. The sharks unanimously agree that the coffee made with Third Wave Water tastes significantly better. 

When asked about numbers, Taylor revealed that they started with just $4,000 in sales in 2015, followed by $66,000 in 2016. They project even stronger growth in 2017, anticipating sales of $120,000. 

Despite the sharks’ enthusiastic praise for the coffee’s taste, their response was not the same when it came to investing in their business.

Lori Greiner and Robert Herjavec dropped out of the deal because of the perceived complexity of the product, requiring distilled water for optimal use. 

Kevin O’Leary and Mark Cuban also exited the deal, expressing concerns about the limited market size and niche nature of the product. 

However, Barbara Corcoran saw potential in Third Wave Water and its ability to improve coffee quality. She offered $100,000 for 33.3% equity and a $2 per unit royalty until she recouped her investment. 

Recognizing the value of Barbara’s expertise and marketing capabilities, Charles and Taylor countered with a 25% equity and a $1 per unit royalty. 

Barbara accepted their revised offer, and all parties agreed to the deal. 

Did Barbara Cocoran make the right decision to go with a revised offer? Let’s find out in our Third Wave Water update.   

Shark Tank Third Wave Water Update 

At the time of this Third Wave Water update, the company is still in business and has three different variations of its water additive on its website. 

One is specifically for dark roast coffee, one for coffee and tea made in a coffee pot, and one for coffee and tea made in an espresso machine. 

While the deal with Barbara on Shark Tank didn’t materialize, Charles and Taylor maintained a positive relationship with her and continue to benefit from her network. They also experienced a significant sales boost following their appearance on the show. 

Our Third Wave Water update found that after airing on Shark Tank, the company received 10,000 sales within two weeks.

In 2019, they expanded their product line by introducing Tethys, a water filtration and mineralization system specifically designed for coffee shops. 

This system makes use of its proprietary water mineralization powder within a commercial-grade reverse osmosis system, offering coffee shops a convenient and consistent way to optimize their brewing water. 

Third Wave Water remains a successful company with an annual revenue of $1 million, demonstrating the continued demand for its products and expertise in enhancing coffee quality. 

Things are looking promising, and we can’t wait for our next Third Wave Water update.

You can find the other company updates from Season 9 Episode 3 here:

• Tangle Pets Update
• Enso Rings Update
• Fidgetland Update

Before you go, be sure to check out our Shark Tank Season 9 page for more updates.