
Olipop is a privately held functional beverage company founded in 2018 by Ben Goodwin and David Lester and headquartered in Oakland, California. The company produces prebiotic sodas formulated with fiber and botanicals for digestive health. Olipop reported over $400 million in revenue in 2024 and was valued at $1.85 billion in February 2025 after a $50 million Series C funding round led by JP Morgan Private Capital. The brand is sold in nearly 50,000 US retail locations including Walmart, Target, Costco, and Whole Foods. Olipop reached profitability in early 2024.
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Olipop | OLIPOP Inc. | Independent |
Olipop was co-founded in 2018 by Ben Goodwin and David Lester in Oakland, California. Goodwin had previously co-founded Obi Probiotic Soda, giving him years of experience in formulating health-oriented beverages. The pair started Olipop with approximately $100,000 in initial funding and a mission to create a soda that tasted good while supporting digestive health through prebiotics, plant fiber, and botanicals.
The company's early growth was driven by direct-to-consumer sales and placement in natural food stores and specialty retailers. Olipop's breakthrough came when it secured shelf space at major national retailers including Walmart, Target, Kroger, and Whole Foods Market. The brand's colorful, retro-inspired packaging and nostalgic flavor names like Vintage Cola, Classic Root Beer, and Orange Squeeze helped it stand out in the beverage aisle.
Olipop attracted significant venture capital investment. By 2022, the company was valued at $200 million. Revenue grew 223% year over year in 2022, and the company reached $100 million in gross revenue in the first half of 2023. By 2024, revenue had doubled to over $400 million, and the company turned profitable in early 2024.
In February 2025, Olipop raised $50 million in a Series C round at a $1.85 billion valuation. JP Morgan Private Capital led the round. The company stated it was the top single-serve, non-alcoholic beverage manufacturer in dollar and unit growth in the US, citing data from Circana and SPINS. Olipop reaches nearly 20% of US households and has achieved 25% adoption among Gen Z consumers.
In 2024, Olipop collaborated with Mattel to create a Barbie-themed Peaches and Cream flavor, which became a permanent addition to the lineup after strong consumer demand. The company also introduced a shelf-stable offering alongside its refrigerated products, giving it more space at retailers and attracting new consumers. Olipop recently entered the convenience store market, launching Slim Cans at Wawa, Casey's, Kum and Go, and Circle K locations.
By 2026, the competitive picture shifted. PepsiCo acquired Olipop's main competitor Poppi for $1.95 billion in early 2025, and Coca-Cola launched its own prebiotic soda called Simply Pop. According to Beverage-Digest, Poppi's sales declined in the first half of 2026 following a rocky distribution transition, while Olipop's growth also decelerated. The broader carbonated soft drink market dropped approximately 5% in the same period. Olipop continued to post "strong double-digit" growth according to Goodwin, though at a slower pace than 2024.
Who founded OLIPOP?
OLIPOP was founded in 2017 by Ben Goodwin and David Lester. Goodwin serves as CEO and is the primary product formulator. He spent approximately nine years developing the OLIPOP formula, drawing on his experience in the kombucha industry and investing roughly $300,000 of personal savings before launch. Lester co-founded the company and contributes to strategic direction and growth.
What is OLIPOP's valuation?
OLIPOP was valued at $1.85 billion in its Series C funding round in February 2025. The round raised $50 million and was led by J.P. Morgan Private Capital's Growth Equity Partners. The company is planning to raise additional capital in 2026, with Axios reporting in May 2026 that OLIPOP was seeking more than $200 million.
How much revenue does OLIPOP generate?
OLIPOP reported $400 million in revenue in 2024. Industry estimates place 2025 revenue at approximately $500 million. The company claimed profitability in 2024. As a private company, OLIPOP does not file detailed financial statements with the SEC, and revenue figures are based on company announcements and media reports.
Where can you buy OLIPOP?
OLIPOP is available through its website as a direct-to-consumer product, including a subscription service, and in over 30,000 retail stores across the United States. Major retail partners include Walmart, Target, Kroger, and Whole Foods. The company also sells through Amazon and other online retailers.
What are the main ingredients in OLIPOP?
OLIPOP contains prebiotic fiber from sources such as cassava root and chicory root, botanical extracts, and natural flavors. The beverages are formulated with low sugar content, typically 2 to 5 grams per can, and are sweetened with a combination of natural sweeteners. The products are designed to support digestive health through prebiotic fiber.
Is OLIPOP publicly traded?
No, OLIPOP is a privately held company. It is not listed on any stock exchange and does not have a public stock ticker. The company has raised venture capital and growth equity funding across multiple rounds, with the most recent being the Series C round in February 2025.
Who owns OLIPOP?
OLIPOP is owned by its co-founders Ben Goodwin and David Lester, along with institutional investors including J.P. Morgan Private Capital's Growth Equity Partners and earlier venture capital backers. Specific ownership percentages have not been publicly disclosed. The co-founders retain control of the company.
What is the difference between OLIPOP and regular soda?
OLIPOP contains prebiotic fiber, botanical extracts, and significantly less sugar than traditional sodas. A typical can of OLIPOP has 2 to 5 grams of sugar, compared to 30 to 40 grams in a conventional soda. The product is marketed as a functional beverage that supports digestive health, rather than a conventional soft drink.
Olipop products are Non-GMO Project Verified. The brand uses plant-based ingredients including chicory root, Jerusalem artichoke, and cassava root fiber. All Olipop products are certified gluten-free and vegan.
Olipop uses recyclable aluminum cans for its packaging. The company has stated commitments to reducing its environmental footprint but has not published specific carbon neutrality targets or independent sustainability certifications. The brand is not a certified B Corporation.
Olipop's ingredient sourcing focuses on botanical and plant-based materials. The company states that it works with suppliers who follow sustainable agricultural practices, but it does not publish detailed supply chain audits or third-party sourcing certifications.
The company's functional health claims are based on the prebiotic fiber content of its products. In 2025, Olipop announced it was investing in additional clinical research to substantiate its digestive health marketing claims, as larger competitors like PepsiCo and Coca-Cola entered the functional soda space. This investment in scientific validation is intended to differentiate Olipop from competitors making similar but less-supported claims.
Olipop has not experienced any major product recalls or regulatory enforcement actions as of the date of this article. The company maintains compliance with FDA requirements for functional beverages.
Health Claims Scrutiny: As the functional soda category has grown, regulatory and consumer scrutiny of health claims has increased. Olipop's marketing emphasizes digestive health benefits from prebiotic fiber, and the company has invested in clinical research to substantiate these claims. However, the broader functional beverage category has faced questions about whether health claims are sufficiently supported by scientific evidence. Olipop's 2025 investment in additional research appears designed to address this concern proactively.
Competition from Legacy Beverage Giants: PepsiCo's $1.95 billion acquisition of Poppi in 2025 and Coca-Cola's launch of Simply Pop have fundamentally changed the competitive picture for Olipop. While Goodwin has stated that these moves validate the category, they also create significant competitive pressure. PepsiCo and Coca-Cola have vastly larger distribution networks, marketing budgets, and retail relationships. Poppi's sales decline in the first half of 2026, partly attributed to distribution transition issues following the PepsiCo acquisition, illustrates the risks of integration.
Category Deceleration: Beverage-Digest reported in 2026 that both Poppi and Olipop showed signs of slowing growth. While Olipop continued to post double-digit growth, the pace decelerated from 2024 levels. This raises questions about whether the functional soda category is reaching a saturation point or simply maturing after a period of rapid expansion.
Pricing Pressure: Olipop's premium price point ($3 to $4 per can) limits its addressable market to health-conscious consumers willing to pay more for functional beverages. As larger companies enter the space with potentially lower-priced alternatives, Olipop faces pressure to justify its premium positioning through superior formulation, brand equity, and clinical evidence.
No direct competitors found in the same category. This could be because Olipopoperates in a unique market segment or we're still building our competitor database.
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