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One legendary businessman used his love for sports to build multiple billion dollar businesses, distributing hundreds of millions of dollars to employees in the process.
This is his wild story.
Time for a thread
This is his wild story.
Time for a thread
1) Growing up in Queens, New York - Mike Repole loved two things:
Sports & Business
As a kid, Repole had magazine subscriptions to both Sports Illustrated and Money magazine - reading them religiously.
Sports & Business
As a kid, Repole had magazine subscriptions to both Sports Illustrated and Money magazine - reading them religiously.
2) Mike Repole decided to pursue his passion for business, enrolling at St. John's University.
Repole started out as a Finance major, but wasn't very good at it.
After switching to sports management, Repole graduated in 5 years with a “stellar 2.2 grade point average.”
Repole started out as a Finance major, but wasn't very good at it.
After switching to sports management, Repole graduated in 5 years with a “stellar 2.2 grade point average.”
3) Once Mike Repole became the first member of his family to graduate college, he started looking for work.
In the end, Repole kept coming back to fond memories of his time stocking the beverage aisle as a young boy.
“I loved watching how some brands just flew off the shelves.”
In the end, Repole kept coming back to fond memories of his time stocking the beverage aisle as a young boy.
“I loved watching how some brands just flew off the shelves.”
4) Mike Repole started his post-graduate career as a beverage salesman for Mistic Beverages.
With early success, came more opportunties.
Repole would later join Crystal Geyser as Vice President of Sales.
But at the age of 29, a unsatisfied Repole wanted more.
With early success, came more opportunties.
Repole would later join Crystal Geyser as Vice President of Sales.
But at the age of 29, a unsatisfied Repole wanted more.
5) In 1999, Mike Repole teamed up with J. Darius Bikoff to start Energy Brands, or commonly known as Glaceau.
Glaceau was founded on the idea of enhanced water, with the popular "Smartwater" being their first product.
In 2000, Glaceau introduced Vitamin Water and sales took off
Glaceau was founded on the idea of enhanced water, with the popular "Smartwater" being their first product.
In 2000, Glaceau introduced Vitamin Water and sales took off
6) By 2007, Mike Repole and his partner had built a business that did over $1 billion in sales.
In an effort to catch up to Pepsi in the non-carbonated drink market, Coca-Cola came calling.
By year end, Coca-Cola agreed to purchase Glaceau for $4.1 billion.
In an effort to catch up to Pepsi in the non-carbonated drink market, Coca-Cola came calling.
By year end, Coca-Cola agreed to purchase Glaceau for $4.1 billion.
7) How much did Mike Repole & J. Darius Bikoff make from the $4.1 billion deal?
It's unclear, but at least hundreds of millions.
That's not even the best part.
With Repole & Bikoff routinely rewarding employees with stock, 400 employees cashed $500k+ checks from the deal.
It's unclear, but at least hundreds of millions.
That's not even the best part.
With Repole & Bikoff routinely rewarding employees with stock, 400 employees cashed $500k+ checks from the deal.
8) Mike Repole's exit from Glaceau brands proved to be just the start of his legendary career.
In 2009, Repole joined Pirate's Booty as chairman - becoming the largest individual shareholder.
Within 5 years, Repole had grown the company 400% and the brand was acquired for $200M
In 2009, Repole joined Pirate's Booty as chairman - becoming the largest individual shareholder.
Within 5 years, Repole had grown the company 400% and the brand was acquired for $200M
9) After his second successful exit, Mike Repole couldn't sit on the sidelines for long.
Within 2 years, Repole and Lance Collins had founded Bodyarmor.
Bodyarmor, a healthy sports drink alternative, was founded on the idea that “people are tired of the same old sports drink.”
Within 2 years, Repole and Lance Collins had founded Bodyarmor.
Bodyarmor, a healthy sports drink alternative, was founded on the idea that “people are tired of the same old sports drink.”
10) Facing steep competition from brands like Gatorade, Mike Repole needed help.
Enter Kobe Bryant.
Kobe acquired ~10% of the company for $6M in 2014, becoming creative director.
In 2018, Coca-Cola acquired a minority stake - which valued Kobe's equity at $200M, or 33x more.
Enter Kobe Bryant.
Kobe acquired ~10% of the company for $6M in 2014, becoming creative director.
In 2018, Coca-Cola acquired a minority stake - which valued Kobe's equity at $200M, or 33x more.
11) Mike Repole has had a difficult time with the passing of Kobe Bryant - often referring to his impact on Bodyarmor.
“Kobe Bryant’s fingerprints are all over the BodyArmor brand. The brand wouldn’t be in the position it’s in if Kobe wasn’t a believer back in 2012 and 2013.”
“Kobe Bryant’s fingerprints are all over the BodyArmor brand. The brand wouldn’t be in the position it’s in if Kobe wasn’t a believer back in 2012 and 2013.”
12) In recent years, Mike Repole has continued to rely on athlete endorsements to drive Bodyarmor towards $1 billion in annual sales.
Endorsers include:
- Mike Trout
- Megan Rapinoe
- Trae Young
- Christian McCaffrey
How bad do they want to beat gatorade?
They all got equity.
Endorsers include:
- Mike Trout
- Megan Rapinoe
- Trae Young
- Christian McCaffrey
How bad do they want to beat gatorade?
They all got equity.
13) Outside of the office, Mike Repole has stayed true to his sports background.
Repole owns a horse racing stable, where his horses have over $40M in career winnings.
More recently, Repole was part of the A-Rod & J-Lo ownership group that attempted to buy his hometown NY Mets.
Repole owns a horse racing stable, where his horses have over $40M in career winnings.
More recently, Repole was part of the A-Rod & J-Lo ownership group that attempted to buy his hometown NY Mets.
14) Mike Repole is the perfect example that a college GPA doesn't define you.
Repole worked hard and continuously pushed forward, using the lessons he learned in sports to dominate the business world.
Not bad for a 5 year, 2.2 GPA graduate...
Repole worked hard and continuously pushed forward, using the lessons he learned in sports to dominate the business world.
Not bad for a 5 year, 2.2 GPA graduate...
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Sources:
https://www.forbes.com/sites/markjburns/2014/10/13/think-big-dream-bigger-mike-repoles-journey-to-becoming-co-founder-of-bodyarmor/#4833a65b40ef
https://www.reuters.com/article/us-coke-glaceau/coca-cola-to-buy-glaceau-for-4-1-billion-idUSN2544359220070525
https://www.forbes.com/sites/nathanvardi/2015/07/20/the-man-who-made-70-million-from-pirates-booty-sues-his-former-partners-for-more-loot/#5e9a0c5f27df
https://bleacherreport.com/articles/2791197-report-kobe-bryants-6m-investment-in-bodyarmor-sports-drink-now-worth-200m
https://www.forbes.com/sites/markjburns/2014/10/13/think-big-dream-bigger-mike-repoles-journey-to-becoming-co-founder-of-bodyarmor/#4833a65b40ef
https://www.reuters.com/article/us-coke-glaceau/coca-cola-to-buy-glaceau-for-4-1-billion-idUSN2544359220070525
https://www.forbes.com/sites/nathanvardi/2015/07/20/the-man-who-made-70-million-from-pirates-booty-sues-his-former-partners-for-more-loot/#5e9a0c5f27df
https://bleacherreport.com/articles/2791197-report-kobe-bryants-6m-investment-in-bodyarmor-sports-drink-now-worth-200m
