Day One Beverages
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Day One Beverages was a California-based CBD beverage company founded by Chris Clifford, CEO of Natural Hemp Company. Its flagship product was a sparkling water infused with 20 mg of broad-spectrum CBD per 12 oz. can, with zero calories, zero sugar and a splash of real fruit juice, retailing at $2.99 per can. The brand was initially launched in August 2019 under cannabis portfolio company Genius Fund; after the parent collapsed, Clifford bought back the brand rights and relaunched it as an independent startup in October 2021.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Launched
Chris Clifford launched Day One CBD Sparkling Water through Natural Hemp Company, debuting at the USA CBD Expo in Miami.
- Relaunched independently
After parent company Genius Fund collapsed, Clifford acquired the Day One brand rights and relaunched it as an independent startup in October 2021.
- Acquisition attempt fails
In January 2022, cannabis company 1933 Industries signed a binding LOI to acquire Day One in an all-stock deal; in May 2022 the parties mutually terminated it, saying Day One's capital needs far exceeded modelled projections.
- Funding round
In June 2022, Day One closed a multimillion-dollar round led by Vincere Capital to fund distribution expansion and new flavors.
- Status unclear
No news, shutdown announcement, bankruptcy filing or acquisition was found after 2022; the company's current status could not be verified.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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