Whatever Happened To SquareKeg After Shark Tank?
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A SquareKeg might not fit into a round hole — but it will probably fit in your fridge. Invented by Detroit healthcare sales rep Tim Loucks in 2017, the SquareOne keg from SquareKeg was designed to give brew lovers an alternative to clunky containers and flat beverages. Through the use of CO2 gas, the SquareOne keeps drinks carbonated and fresh for extended periods, all in a space smaller than a loaf of bread. By 2021, Loucks and his team had worked out the kinks in their prototype SquareOne and began manufacturing them in Spokane, Washington for an initial sales push.
The response was tremendous, with the company selling over 4,000 SquareOnes within the first year, grossing nearly $1.5 million in sales while surviving the icy COVID-19 marketplace. Thus, Loucks was in a pretty strong position to make his way into the "Shark Tank" to see if the ABC series' investors wanted to take a bite — or perhaps a swig — of this boozy opportunity.
SquareKeg quickly scared four sharks out of the water
On "Shark Tank," Tim Loucks sought $300,000 in exchange for just 10% of SquareKeg — a hefty yet arguably reasonable entry fee for a company valuing itself at $3 million.
Loucks' pitch was simple, smartly relying on product samples to do the heavy lifting. In addition to three SquareOne beer kegs, he provided a new SquareOne Nitro (specialized to serve nitrogen-infused beverages) and one filled with a mixed cocktail, proving the device's versatility. As the sharks poured their own drinks, it was clear Loucks had managed to impress. But despite an auspicious presentation and decent sales numbers to back up his $3 million valuation, the Tank turned surprisingly cold for Loucks' frosty invention.
Four of the sharks quickly backed out, unanimously citing their doubts about how they could scale the product successfully. Last in the water was Kevin "Mr. Wonderful" O'Leary, whose interest was piqued during the pitch by the mention of an in-development keg made specifically for wine. When Loucks revealed this product was only three months from being ready for sale, O'Leary offered him the $300,000 in exchange for 20%. Though he tried to get O'Leary to meet him in the middle at 15%, Loucks ultimately accepted the initial offer and walked out of the Tank victorious.
The SquareKeg deal went down smoothly after its Shark Tank appearance
In the months following his "Shark Tank" debut, Tim Loucks had two major goals: He needed to finish the SquareOne wine device and close his deal with Kevin O'Leary. The former likely relied at least in part on the $300,000 cash infusion guaranteed by the latter — which itself had odds slightly less favorable than a coin flip. Per a 2023 study from Forbes, Mr. Wonderful only closed 45% of the deals he made on "Shark Tank."
Luckily, Loucks succeeded on both fronts. SquareKeg introduced the SquareOne Vino, which used argon gas to keep wines fresh and ready to pour at all times. This seemed to make O'Leary not only an official partner of Loucks' but a dedicated customer and spokesperson for the brand. The investor boasted six SquareKeg products at one of his opulent garden parties, where he filmed a personal demo video for the SquareKeg YouTube channel. O'Leary also appeared on the SquareKeg website in numerous ways, including via an official endorsement of the SK Vino.
Is SquareKeg still at the party?
Although SquareKeg stayed in business at least through mid-2024, it now looks like the company may have closed up shop. The product's website no longer exists, and SquareKeg doesn't appear on Amazon anymore. On top of that, its Instagram has been quiet since November 2024, while its Facebook page has been silent since September 2024. That might just mean SquareKeg is done for good, or it might mean the company is taking a break to refresh its stock or retool its marketing.
In any event, its sudden disappearance does not bode well for the company's continued health. Only time will tell if SquareKeg really has gone completely under. What might have caused the brand to tumble? For one thing, the competition has been pretty fierce, with NutriChef and TMCraft entering the game. Their mini-kegs are both from well-known brands and are offered at slightly cheaper price points than the one SquareKeg was offered at (SquareKeg products ranged in price from $250 to well over $300). The competition may well have left SquareKeg tapped out.
Where is Tim Loucks now?
There's no word on what Tim Loucks will get up to next; he hasn't updated his LinkedIn since leaving his previous job to promote the fortunes of SquareKeg full time. His personal Instagram has also gone dark, not bearing any new updates since 2021. While Loucks' previous experience has been in sales and account management, there's no sign that he's moved on to snag a new job with a different company.
We'll have to wait and see when and where Loucks resurfaces, or if SquareKeg will continue to exist in the public sphere. Even if the whole enterprise goes sideways (or doesn't become one of the more successful "Shark Tank" products), one has to admit that it was brave of Loucks to make such a move. Yet the problem identified by each shark — Kevin O'Leary included — was the difficulty of sustaining such a specialized and expensive product, meaning SquareKeg couldn't necessarily count on repeat customers to keep its business afloat.
Still, it's a long way from working in sales to starting your own business, and Square Keg did well enough to stay alive and afloat for a while; that's worth a toast, even if the company's status remains unknown at press time.