UPDATE – Jones Soda
Episode #07-819
CareersTV heads to Seattle for a drink with the King of Pop himself. Meet the man behind the success of Jones Soda, Peter van Stolk, who initially developed his entrepreneurial skills in Western Canada. He's rocked the boat in the beverage business creating a big soft drink company of his own. Peter's success in his approach to branding has been featured in the New York Times, People Magazine, and on CNN. In this update, we find out how the little beverage company that could has weathered the ups and downs in the über-competitive world of pop.
Fast Facts:
- Jones caters to the 12-24 year old market. - A group that spends $300 billion annually. - Jones sells 50 million bottles a year. - Coke sells 500 million cans a day.
UPDATE: - In 2006, the company had a profit of $4.5 million. - Jones Soda lost $11.6 million last year in 2007. - Jones Soda is sold in 15,000 outlets. - In April 2007, Jones Soda launched a 12 ounce can. - The company has converted the sweetener in all its Jones Soda products to pure cane sugar from high fructose corn syrup, a food and drink additive. - Jones Soda is the only national brand sweetened with pure cane sugar. - Peter van Stolk stepped down from his position of chairman of the board of directors and chief executive officer at the end of 2007. - Board members Scott Bedbury and Steve Jones took over in the interim positions of chairman and CEO respectively while the company searches for a new CEO. - Jones Soda gave Peter van Stolk $550,000 in severance pay, which included a $100,000 donation to his favorite charity, Vitamin Angels. - Van Stolk remains the company’s largest individual shareholder with 1.77 million shares worth approximately $11.3 million. - Jones Soda does not expect to be profitable in 2008.
Resources:
www.jonessoda.com
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