The Wave Soda Company offering is now closed and is no longer accepting investments.

Wave Soda Company

Redefining soda for the next generation.

Wave Soda Company

Redefining soda for the next generation.

San Marcos, CA
Food & Beverage
We’re Wave Soda, a better-for-you soda that people love all day, every day! A happy, refreshing drink with soda water, a quarter of the sugar most carbonated beverages have and only ingredients that you can understand! That means you can happily sip any of our uplifting drinks and know exactly what you’re putting into your body. Infused with a small boost of natural caffeine, Wave Soda is the perfect refreshment for any and all occasions!

$75,845

raised
59
Investors
$18M
Valuation
$3.60
Price per Share
$252.00
Min. Investment
Preferred
Shares Offered
Equity
Offering Type
$1M
Offering Max
0
Days Left

$75,845

raised
59
Investors
$18M
Valuation
$3.60
Price per Share
$252.00
Min. Investment
Preferred
Shares Offered
Equity
Offering Type
$1M
Offering Max
0
Days Left
This offering ended on April 30, 2022 and is no longer accepting investments.

Reasons to Invest

Product - With 15-25 calories per can, all natural ingredients, and what we call “politely caffeinated” Wave hits the new sweet spot for consumers. Wave is now one of the fastest growing juice-sweetened beverage on the market! ℅ SPINS 2021! And now, by popular demand, Wave is adding classic soda flavors to the line up with a quarter of the sugar that most carbonated beverages contain!
Positioning - We’ve set ourselves apart from other competitors in our space with our unique offering. We are a healthy soda that gives sparkling water drinkers a better flavor and traditional soda drinkers a way out! It’s a healthier option for everyday consumers. From Cucumber to Cola, we deliver more of what today’s consumers are looking for. An innovative brand by nature, we always look to keep ourselves fresh and exciting! We launched Cola in late 2021, the first flavor of our healthy classic soda line and introduction to our quarter sugar offering. With an immediate 126% increase in month over month sales and the discontinuation of two major natural soda brands, we are very excited for the release of the full line in 2022!
People - Our team is made up of category veterans with 30+ years in the Coke system and innovative newcomers from the top direct to consumer brands. Like Wave, it’s a perfect blend of traditional experiences and fresh perspectives.

At Wave Soda: We’re Bigger than a Can 

While we're passionate about building a better-for-you soda; our mission is much bigger than a can. We're committed to doing our part and keeping our waves clean for us and the coming generations. Wave Soda has partnered with 1% for the Planet, giving 1% of our annual sales to the Surfrider Foundation- a local nonprofit dedicated to keeping every beach clean and accessible for all to enjoy. And, being based here in sunny San Diego, that means a whole lot to us.

Nat Noone, CEO and Founder of Wave Soda, has an extensive background in the beverage industry. With a history of working for Odwalla, the juice company, and then for 10 years at Coca Cola, he is well versed in what it takes to make a beverage company successful. William Reed, CFO and Co-Founder of Wave soda, also has a background in the beverage industry with Odwalla. He also brings extensive experience in logistics and supply chain management from working with other CPG brands.


As a minority owner in Wave Soda, ZX Ventures (the investment arm of Anheuser Busch), brings decades of experience as an industry leader in the beverage space. They act as a sounding board and a think-tank for new strategies to help Wave rise to the top of success.


The Problem


It’s Been Hard to Find a Healthy Soda Alternative


Our Founder and CEO was addicted to Diet Coke, drinking up to 14 cans per day. He knew this habit wasn’t good for his health and wanted to make a switch to a healthier alternative. He went out looking for a replacement but couldn’t find anything that was healthy and delivered on the simple things he loved about his diet sodas; bubbly, sweet, and caffeinated. 


No matter how hard he looked, Nat couldn’t find a single product on the market that satisfied what he wanted. So, true to his entrepreneurial spirit, Nat decided to take things into his own hands and make a healthy soda that hit all of the benefits of traditional sodas.



The Solution


A Soda you Can Feel Good About 

Wave is made of all natural ingredients! Our unique formulation provides all the benefits of traditional sodas, while still being a healthy alternative. With just 15-40 calories per can, 2-10 grams of sugar from the fruit juice or natural cane sugar, and 42 mg of caffeine, Wave is the perfect go-to for anyone who wants a better-for-you soda..


All of our sparkling soda flavors contain 40 or fewer calories and are made of a simple list of natural ingredients that are easy to read and even easier to love. 


 

Wave Soda is for you if you…

  • Want to kick your soda addiction but nothing satisfies all your needs
  • Don’t want a ton of extra calories
  • Need more than just slightly flavored sparkling water
  • Know aspartame or artificial sweeteners are not good for you
  • Need a gentle pick me up, but not the heart-pounding effects of highly-caffeinated energy drinks

Wave sells across all retail channels and online. The pricing is in line with  natural soda drinks,  selling for around $1.49 / can in the store. We mostly purchase the Wave aluminum cans from Anheuser-Busch and work with large manufacturers across the country to produce the drink at a relatively low cost. Efficient purchasing and production lead to strong margins.  


Our distribution is through broadliners like UNFI, KeHE and DPI along with strong DSD partners like Anheuser Busch in key markets. We have also been incredibly successful scaling our DTC and Ecomm business over the last two years and now selling to consumers in every state across the US and driving about a quarter of our annual revenue.

The Market


The US Soda category is Over $100 Billion Dollars in Annual Revenue  

Wave is quickly gaining market share with younger, natural consumers.  We are    converting people over from traditional sodas and diet sodas, offering the curious base a healthier alternative to swap out from their current routines. Wave is also giving sparkling water consumers something indulgent, beyond the ordinary. 



Wave generally sits in the “natural soda” section or between the traditional soda and sparkling water sections of the store.  There has been very limited innovation or new products in “natural soda”. In fact the category was declining at about 3% annually until Wave came along. Wave brings a fresh new look to the consumer and in the latest 26 weeks Spins report Wave is up 173%.  


We set ourselves apart from other competitors in our space with our unique formulation of sparkling water, fruit juice, and caffeine. WeWave stands apart from the overcrowded sparkling water category offering both flavor and function missing for these consumers. We also challenge other large “natural” soda brands like Zevia, Reeds and  Hansens which have up to 42g of sugar per can or a heavy handed use of Stevia leaving behind an unpleasant aftertaste.


Our sodas are refreshing and finish clean without the sugary feel.

OUR BRand





Our Traction


Wave Soda is Making a Splash 

It’s easy to see we've been making waves. Here’s a look at our progress to date:

  • Rolled out Whole Foods Southern California 2018
  • Investment from ZX Ventures (investment arm of Anheuser Busch) - December 2018
  • Increased availability to the east coast and 853 accounts by 2019
  • Moved from wrapped cans to painted cans - April 2020
  • Ecommerce growth of 6x from 2019 to 2020
  • Beverage Digest Award for best packaging/label design - December 2020
  • Rollout into Kroger Stores - June 2021
  • Current distribution - in 41 US states and growing, with total store count growing from 1590 in 2020 to 2800 by end of 2021
  • Launch of Cola, the first of our “Classic” line - November 2021

Why Invest


We are the Future of Soda 

Over the next 5 years, we envision Wave to be the leading brand in the natural soda category and challenging the position of traditional soda brands. Along this path, we will continue building strategic partnerships and set the stage for a potential exit to one of these familiar companies.


We are the future of sodas - just look at our rapid growth in the market and the feedback from consumers looking for a traditional soda alternative. We believe Wave has a clear path to continued growth and success driven by a great product, perfect positioning and our experienced leadership team.


In the Press

Inside Beer

ZX Ventures invests in two-year old startup soda

Food Dive

How soda gets healthy: Remaking the classic beverage with less sugar, more benefits

Spoon University

The New Wave of Soda: Natural Sodas That Taste Good and Are Good For You

Guilty Eats

Wave Soda is the perfect blend of sparkling water and caffeine we need

Shape

The Best Healthy Sodas to Drink If You Hate Sparkling Water

Mashed

Popular Soda Brands Ranked Worst To Best

Men's Journal

9 Healthier Sodas and Sparkling Beverages to Sip On

Authority Magazine

Nat Noone of Wave Soda: 5 Things I Wish Someone Told Me Before I Became A Founder

Offering Summary


Company

:

Wave Soda, Inc.

Corporate Address

:

1780 La Costa Meadows Drive, suite 105, San Marcos, CA 92078

Offering Minimum

:

$9,997.20

Offering Maximum

:

$999,997.20

Minimum Investment Amount

(per investor)

:

$252.00











Terms


Offering Type

:

Equity

Security Name

:

Preferred Stock

Minimum Number of Shares Offered

:

2,777

Maximum Number of Shares Offered

:

277,777

Price per Share

:

$3.60

Pre-Money Valuation

:

$18,000,000.00











Preferred Shares will hold: Liquidation Preference, Information Rights, Limited Protective Provisions.

Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

*Maximum Number of Shares Offered subject to adjustment for bonus shares. See Bonus info below.

Company Perks*

Tier 1: $252

- 1 Exclusive Wave Soda hat

- 1 Exclusive Wave Soda sticker

- 1 Ownership certificate

Tier 2: $500

- 1 Exclusive Wave Soda hat

- 1 Exclusive Wave Soda sticker

- 2 Exclusive Wave Soda koozies

- 1 Ownership certificate

- 15% Off Wave Soda brand merch store for 1 year

Tier 3: $1,000

- 2 Exclusive Wave Soda hats

- 2 Exclusive Wave Soda stickers

- 4 Exclusive Wave Soda koozies

- 1 Ownership certificate

- 25% Off Wave Soda brand merch store for 1 year

Tier 4: $5,000

- 5% Bonus shares

- 2 Exclusive Wave Soda hats

- 2 Exclusive Wave Soda stickers

- 4 Exclusive Wave Soda koozies

- 1 Ownership certificate

- 25% off Wave Soda brand merch store for 1 year

Tier 5: $10,000

- 5% Bonus shares

- 2 Exclusive Wave Soda hats

- 2 Exclusive Wave Soda stickers

- 4 Exclusive Wave Soda koozies

- 1 Ownership certificate

- 25% off Wave Soda brand merch store for 1 year

- Help Wave Soda develop our next flavor soda! You will help the Wave Soda R&D team develop their next flavor. You will have an exclusive behind the scenes look at the recipe fine tuning process and will participate in multiple tasting panels to help finalize a new innovation ahead of bringing it to market.

Tier 6: $25,000

- 10% Bonus shares

- 2 Exclusive Wave Soda hats

- 2 Exclusive Wave Soda stickers

- 4 Exclusive Wave Soda koozies

- 1 Ownership certificate

- 25% off Wave Soda brand merch store for 1 year

- Help Wave Soda develop our next flavor soda! You will help the Wave Soda R&D team develop their next flavor. You will have an exclusive behind the scenes look at the recipe fine tuning process and will participate in multiple tasting panels to help finalize a new innovation ahead of bringing it to market.

- Free Wave Soda for a year. Up to 1 pack (24 cans) every 2 weeks.  

*All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Wave Soda Company will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Preferred Stock at $3.60 / share, you will receive 110 shares of Preferred Stock, meaning you'll own 110 shares for $360. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Insider Investment Notice

Officers, directors, executives, and existing owners with a controlling stake in the company (or their immediate family members) may make investments in this offering. Any such investments will be included in the raised amount reflected on the campaign page.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments.

Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$1,600,219.00 USD
$88,325.00 USD
Cash And Cash Equivalents
$557,573.00 USD
$45,541.00 USD
Accounts Receivable
$106,150.00 USD
$73,376.00 USD
Short Term Debt
$547,143.00 USD
$398,980.00 USD
Long Term Debt
$5,258,954.00 USD
$2,031,095.00 USD
Revenues And Sales
$1,170,195.45 USD
$583,237.94 USD
Costs Of Goods Sold
$692,976.33 USD
$905,282.12 USD
Taxes Paid
$443.74 USD
$2,013.11 USD
Net Income
-$2,019,778.68 USD
-$1,795,004.63 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

Make "The Doctor" with our new Dr. Diego!!

3 months ago

Ingredients:
🍒 4 oz of Dr. Diego
🍒 1 oz of Fernet Branch
🍒 1 oz of Rum
🍒 2 Dashes of Bitters
🍒 Ice Cubes and a Cherry

Order now and give it a try!!

Wave Soda Launches Dr. Diego!

3 months ago


The second flavor of their Classic Line, Dr. Diego hits on all the notes that one expects to feel from the name!

Made up of all-natural ingredients, 40 calories, and 10 grams of organic cane sugar, Dr. Diego joins their Cola in being what we believe to the best tasting natural sodas on the market!

Give them a try and experience the "Bubbly Break" for yourself...Doctor's orders!😉

Wave Soda at Expo West 2022!

3 months ago

Wave Soda was at Expo West in Anaheim, California!

It was amazing meeting some of you and showing off three flavors from our new Classic line. Cola, Dr. Diego, and Ginger Ale were available for tasting and the feedback was overwhelmingly positive!

Looking forward to the official launch of Dr. Diego later this week on our website!

Continue to share the page with friends and family!

Cheers,

Wave Soda

Show More Updates End of Updates

Comments ({{profileCtrl.startup.comments_count}} total)

{{profileCtrl.newComment.body.length}}/2500
Please sign in to post a comment.
Please use Updates for communications.
{{ profileCtrl.commentsLoading ? 'Loading...' : 'Show More Comments' }}