Though the brand needs no introduction, going by the parameters, Coca-Cola is a carbonated soft drink which was intended as a patent medicine in 1886 by the American pharmacist John Pemberton. It was popularized and marketed by businessman Asa Griggs Candler, and the product gets its name from its main ingredients the coca leaves and the Kola nuts.
The soft drink is currently sold over 200 countries right now, and according to a 2013 survey, it has more than 1.8 billion consumers per day worldwide. Continue reading to know more information about the history and the net worth of Coca-Cola in 2020.
American Civil War Confederate Colonel John Stith Pemberton was wounded in the war and was addicted to morphine. He was forced to find an alternative for the drug as it had many side effects and came up with a formula in the form of a Coca Wine in 1885. After prohibition was passed in Atlanta in 1886, Pemberton founded a non-alcoholic version of the Coca Wine which later became the Coca-Cola. Pemberton’s bookkeeper Frank Mason Robinson designed the product’s logo.
The product was first sold in a pharmacy for 5 cents through soda fountains, and Pemberton advertised that Coca-Cola could cure indigestion, morphine addiction, and impotence which made the beverage gain popularity in America. In 1888, Charley Pemberton, the son of John Pemberton became the major shareholder of Coca-Cola Company, and Asa Griggs Candler purchased the formula’s one-third rights.
In August 1888, John Pemberton died, and his son became the sole owner of the name Coca-Cola which is said to be bought by Candler for $300 at Pemberton’s funeral. In 1889, Candler enjoyed full ownership of Coca-Cola for which he spent around $2,300 at that time. In 1919, Coca-Cola was bought by investors for $25 million offering 5000,000 shares for $40 per share.
Coca-Cola was introduced to the world in 1928 when the brand sponsored the United States Olympic Team that traveled to Amsterdam. In 1941, Coca-Cola was sent to the servicemen of the World War I which paved the way for the further popularity of the product outside the United States. Coca-Cola cans were introduced in 1955, and the company introduced another drink Fanta during the 1950s.
New Coke was introduced by the company in April 1985, with a change to its original formula which was well received by the consumers. But the nostalgia for the old taste led to a backlash and the company was forced to get back to the original formula in the name of Coca-Cola Classic in July 1985.
The name Classic was removed in 2011 from all Coca-Cola products as the company no longer produced New Coke. As of now, Coca-Cola is in the market of more than 200 countries worldwide.
The Coca-Cola brand is considered the third most valuable brand in the world only next to Apple and Google. The brand logo of Coca-Cola is said to be recognized by 94% people in the world, and the company is among the top multicultural business opportunities.
Net Worth & Earnings
The company generated revenue of $35.4 billion in 2017 with an operating revenue of $7.5 billion. Its net income for the year 2017 is said to be $1.4 billion, and its total assets value is estimated to be $87.8 billion. It was the first brand to achieve 1 billion pounds in UK grocery sale and has a net worth of $180 billion.
A brand that was bought for approximately $2,300 in the 19th century now has a net worth of $180 billion, thanks to the marketing skills of Asa Griggs Candler an Ernest Woodruff.