Beatrice Lang
Fran Harris, a former WNBA player and the founder of Electra, appeared on Shark Tank in 2021, seeking $350,000 in funding for her company in exchange for 20% equity. Despite the sharks' concerns about the competitive sports drink market and Electra's lack of sales, Harris secured a deal with Barbara Corcoran for $350,000 in funding for 30% equity, contingent on securing an endorsement from a Hall of Famer athlete. While the deal provided initial exposure and a boost in sales, it is unclear if the partnership with Corcoran was finalized as the drink failed to take off in retail stores, and as of 2025, Electra only sells powder mixes through its website.
| Characteristics | Values |
|---|---|
| Founder | Fran Harris |
| Founder's background | Former WNBA player and collegiate athlete |
| Founder's other ventures | The Athletic Club sports complex, a women's basketball documentary called "A League of Our Own", Fran Harris Enterprises LLC (a marketing agency) |
| Date of appearance on Shark Tank | January 2021 |
| Shark Tank episode | Season 12, Episode 9 |
| Deal offered by Barbara Corcoran | $100k in cash and a $250k line of credit in exchange for 30% equity, contingent on reeling in at least one Hall of Fame sponsor |
| Outcome of deal | Unclear; Corcoran's website does not list the deal, but Electra's website mentions it |
| Sales after Shark Tank | Spiked after the episode aired; temporary boost in sales |
| Product availability | Initially only available online, later stocked in H-E-B supermarkets, and sold on Amazon; currently, only powder mixes are sold on the Electra website |
| Product pricing | $2.99 per bottle, $19.99-$22 for 12-packet powder mixes |
| Product reviews | Mixed reviews, with some praising the health benefits and others complaining about taste and quality issues |
| Future prospects | Unclear; the company seems to be inactive on social media, and the product is not available in retail locations |
| Net worth (as of 2022) | $1.1 million |
Explore related products
What You'll Learn
The deal with Barbara Corcoran
Fran Harris, the founder of the Electra brand, appeared on Season 12, Episode 9 of "Shark Tank", which aired in January 2021. She asked for $350,000 in cash in exchange for a 20% equity stake in Electra Beverages. Harris pitched her product as a "better-for-you, functional hydration beverage company", with fun-named drinks like Litty Lemonade, Passion Punch, and Oh Yeah! Orange. However, she had not made any sales at the time of her pitch, and the Sharks were hesitant to invest. Despite this, Harris assured them that her experience in sales and distribution would help her succeed.
Eventually, Barbara Corcoran was the only Shark left standing. She offered Harris a deal of $100k in cash and a $250k line of credit in exchange for 30% equity, on the condition that they secured at least one Hall of Fame sponsor. This deal was contingent on the endorsement of a big-name athlete, which Harris claimed was close to happening.
It is unclear whether the deal with Barbara Corcoran was finalised. Corcoran's website does not list Electra Beverages as a partner, and there is no public information available to confirm the deal. However, Electra's website mentions "landing Barbara Corcoran", suggesting that some form of agreement was reached. As of 2025, Electra Beverages appears to still be in business, but it is only selling powder mixes through its website, and its social media presence has been inactive for some time.
Electricity Theft: Understanding the Legal Consequences and Penalties
You may want to see also
Explore related products
Sales and popularity surge
Electra, the electrolytes-packed sports drink, experienced a surge in sales and popularity after appearing on Shark Tank. The brand gained valuable exposure from the show, resulting in a temporary boost in sales. Founder Fran Harris' pitch impressed Barbara Corcoran, who offered a deal of $100k in cash and a $250k line of credit for a 30% equity stake, contingent on securing an endorsement from a sports Hall of Famer.
While it is unclear if the deal with Corcoran was finalised, the publicity from Shark Tank led to increased sales through Electra's online store. The brand also attracted interest from venture capitalists and Instagram fitness celebrity @shaunt, who promoted the drink to their followers. By May 2021, Electra was stocked in around 170 H-E-B supermarkets in Texas, with plans to expand its product line and retail presence.
Electra's retail expansion was a significant milestone, addressing the Sharks' concerns about the challenges of obtaining cooler space in stores and the high shipping costs of liquid products. The brand's retail presence grew to 172 H-E-B stores by 2022, and they introduced powdered drink mixes to their product line, reflecting Mark Cuban's suggestion for a powder option to reduce shipping costs.
Despite these successes, Electra faced some setbacks. There were reports of shipping mishaps, damaged products, and delayed orders. As of 2023, the brand's social media presence had become inactive, and their drinks were no longer listed on their website or sold in stores. However, they continued to sell powder mixes through their website, with plans to relaunch in Summer 2024 with a new look, flavours, and attitude.
While Electra's future remains uncertain, the brand has shown resilience and adaptability in the face of challenges. The company's expansion into retail and their response to feedback by introducing powder mixes demonstrate their commitment to growth. With a projected market value of $25.5 billion by 2031 for sports hydration drinks, Electra has significant potential for expansion if they can overcome their current hurdles.
Electrical Line Addition: A Step-by-Step Guide for Homeowners
You may want to see also
Explore related products
Expansion and distribution
Electra Beverages, a sports hydration drink brand, appeared on Shark Tank in 2021. The company was founded by Fran Harris, a former WNBA player and collegiate athlete. Harris sought $350,000 in exchange for 20% equity in her company.
Initially, the drink was only available online, but by May 2021, it was stocked in around 170 H-E-B supermarkets in Texas, with each bottle priced at $2.99. This expansion into retail stores was a significant step for the company, as one of the main concerns raised by the Sharks on Shark Tank was the difficulty of obtaining cooler space in stores.
In February 2022, Electra expanded its product line by introducing powdered drink mixes, which were sold through its website and on Amazon. The decision to introduce a powdered version was influenced by Mark Cuban's suggestion on Shark Tank, who pointed out the high shipping costs associated with liquid products. The powder mixes were priced at $19.99 for a pack of 12 servings, with a variety pack costing $21.99.
As of 2023, Electra drinks are no longer listed on the company's website, and the company appears to only be selling its powder mixes. While the future of Electra is uncertain, the company has experienced challenges and has not achieved significant growth. However, it operates within a growing sports hydration drink market, which is projected to reach $25.5 billion by 2031, indicating potential expansion opportunities for Electra in the coming years.
Gaylor Electric: A Team of Talented Professionals
You may want to see also
Explore related products
Product development
Electra Beverages, a sports hydration drink brand, was founded by Fran Harris, a former WNBA player and collegiate athlete. Harris was inspired to create a nutritious sports drink after realizing the high sugar and calorie content of popular sports drinks during a 5K race in 2019. With initial funding of $40,000 from a WeFunder campaign, Electra officially launched in late 2020.
In early 2021, Harris pitched Electra on Season 12, Episode 9 of "Shark Tank," seeking $350,000 for 20% equity. Despite the sharks' concerns about the competitive sports drink market and the lack of sales at the time, Harris secured a deal with Barbara Corcoran for $100,000 cash and a $250,000 line of credit for 30% equity, contingent on securing a Hall of Fame athlete endorsement.
Post-"Shark Tank," Electra gained valuable exposure, experiencing a temporary boost in sales. However, the company faced challenges, including shipping issues and negative reviews regarding taste and product quality. By May 2021, Electra expanded to 170 H-E-B supermarkets, and later to Amazon. Recognizing the high shipping costs of liquid products, Harris introduced powdered drink mixes in February 2022, sold through the Electra website and priced at $19.99 for a pack of 12 servings.
As of 2023-2024, Electra's future remains uncertain, with limited online activity and no retail presence. However, the company plans to relaunch in Summer 2024 with a new look, flavors, and attitude. Despite the struggles, Electra continues to thrive, with an estimated net worth of $1.1 million as of 2022, and potential for expansion in the growing sports hydration drink market.
Underground Electric to Garage: DIY or Call a Pro?
You may want to see also
Explore related products
Future of the company
The future of Electra Beverages is uncertain. The company's social media presence has been inactive for some time, with its Facebook last updated in 2024 and its Instagram untouched since 2023. The company's website also currently only offers powder mixes, with no mention of the bottled drinks.
Despite these setbacks, Electra has continued to make progress since appearing on Shark Tank. The company initially struggled with shipping issues and negative reviews, but by May 2021, Electra drinks were available in around 170 H-E-B supermarkets, and the company later expanded into selling powdered versions of its products online. As of 2022, Electra's estimated net worth was $1.1 million, and the brand has significant potential for expansion in the growing sports hydration drink market, which is projected to reach $25.5 billion by 2031.
Electra's founder, Fran Harris, has also been busy with other entrepreneurial endeavours, including co-founding a sports complex and producing a documentary. It is unclear whether she is still actively involved in the day-to-day operations of Electra.
In summary, while Electra Beverages has faced challenges and its future is uncertain, the company has made progress since Shark Tank, and there is potential for growth in the sports hydration drink market. The involvement of founder Fran Harris in the company's future endeavours remains to be seen.
Electricity Rates: Cheaper Day or Night?
You may want to see also
Frequently asked questions
Yes, Fran Harris, the founder of Electra, made a deal with Barbara Corcoran, who offered $100k in cash and a $250k line of credit in exchange for 30% equity. However, this deal was contingent on securing an endorsement from a Hall of Fame athlete, which may not have been fulfilled.
Electra saw a temporary boost in sales and exposure after appearing on Shark Tank. However, the company faced challenges, including technical difficulties and shipping issues. As of recent updates in 2024 and 2025, Electra appears to be largely inactive online and no longer sells its bottled drinks, only powder mixes through its website.
Fran Harris has been busy with other entrepreneurial ventures, including producing a women's basketball documentary and co-founding a sports complex. She also continues to work as a public speaker and commentator and maintains her role as CEO of Fran Harris Enterprises, a marketing agency.
Shark Tank resulted in a surge in popularity for Electra, with increased sales through its online store. However, the company faced challenges in production, logistics, and shipping, which may have contributed to its limited growth and current inactive status.
