Red Bull is a popular Austrian company which has gained much of its popularity for selling the Redd Bull energy drink. In addition to this, the company is also known for sponsoring several teams together with several sporting events. It has its headquarters at the Fuschl am See, Austria. It has gained much of its popularity such that it has made sales of more than 6.062 billion cans of Red Bull as per the 2016 record in which it has made its sales globally with more than 171 countries. Here are the complete details about the inception, achievements and the net worth of Red Bull in 2020.
The Red Bull company was founded in the year 1984 by an Austrian entrepreneur known as Dietrich Mateschitz together with a Thai businessman known as Chaleo Yoovidhya. On its founding, Mateschitz had previously traveled to Thailand where he met Chaleo who was the owner of the TC Pharmaceutical. Chaleo’s company had an energy drink known as Krating Daeng, and this made him see a potential market of this drink in Europe.
They partnered together, and as a result, they formed the company known as Red Bull GmbH n which they agreed that Mateschitz would run this company. They began this company by investing $500,000 on each of them. On getting to the Europe market, it got much success through which it increased its distribution to more than 171 countries and making very many sales and thus making this brand to be one of the most-consumed energy drink globally.
Career, Achievements & Awards
On commencing the Red Bull GmbH company in the Europe market, Mateschitz runs this company in which they commenced by using the formula of the Krating Daeng energy drink that was produced by the Chaleo’s company. The company however modified this formula later between the year 1984 and the year 1987 through carbonating the beverage and as a result made it less sweet which was to match the European tastes. In the year 1987, they then introduced this adapted drink in Austria known as Red Bull
They got much success through marketing it to young professionals making its market to expand over the years in all Europe than to the United States and then globally. In addition to this, the Red Bull Company markets and also distributes other drinks such as Carpe Diem and Simply Cola. In their advertisement, they use two mottoes including ‘No Red Bull, No Wings’ and ‘Red Bull Gives You Wings.’ The Red Bull has also for its marketing purpose made many efforts in sponsoring some extreme sports such as racing drivers, cliff diving, skiing, BMX, flying, skateboarding, and biking on downhill and free-ride. This is among other sponsorship it makes so as to advertise itself in the process.
Net Worth & Earnings
Red Bull has an estimated net worth of more than $25 billion. This comes from the fortunate earnings this energy drink company has made through the sales of its energy drink. It was recorded to make sales of more than 5.2 billion cans of Red Bull by the year 2012. Having spread globally has contributed to its increased net worth in which this energy drink has become one of the most consumed energy drink globally.
Red Bull got much its popularity through changing the tastes and preferences in which they put in the tastes which suited the Europe market. In addition to this, in getting to the market on the penetration, they used to distribute free cases of this energy drink to college students who were in an attempt for viral advertising.