Supplying Demand Inc., the Santa Monica, Calif.–based parent of millennial-targeted beverage brand Liquid Death Inc., is working with Goldman Sachs Group Inc. GS on an initial public offering in 2024, the Information reported on Wednesday. The deal could hit the market next spring, according to the report. The beverage company describes itself as “the first bold, hilarious beverage focused on health and sustainability” as well as one of the most rapidly growing nonalcoholic beverages ever. Led by CEO Michael Cessario and founded in 2019, Liquid Death has raised nearly $202 million in venture funding and had a valuation of $700 million as of Oct. 3, 2022, according to FactSet data. Some of its backers include Powerplant Ventures, Live Nation LYV, comedian Tom Segura and Science Media.
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