Numlock News: June 30, 2023 • Ponzi, Bubble Tea, Beyoncé
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By Walt Hickey Ahh! Deal, Monsters Energy drink producer Monster Energy will buy beleaguered rival Bang Energy for up to $362 million through a subsidiary called Blast Asset Acquisition, because once caffeine gets involved corporate names get extremely stupid. Bang has had lots of legal and business issues, some of which pertained to their charismatic owner Jack Owoc, but the biggest issues included a breakup with PepsiCo and losing a $293 million false advertising and trade secrets lawsuit lodged by none other than Monster, which is in fact the company’s largest unsecured creditor as a result. Bang’s got about 2.6 percent of the U.S. energy drink market, which if all goes according to plan will abet Monster’s 35.1 percent market share.
Numlock News: June 30, 2023 • Ponzi, Bubble Tea, Beyoncé
Numlock News: June 30, 2023 • Ponzi, Bubble…
Numlock News: June 30, 2023 • Ponzi, Bubble Tea, Beyoncé
By Walt Hickey Ahh! Deal, Monsters Energy drink producer Monster Energy will buy beleaguered rival Bang Energy for up to $362 million through a subsidiary called Blast Asset Acquisition, because once caffeine gets involved corporate names get extremely stupid. Bang has had lots of legal and business issues, some of which pertained to their charismatic owner Jack Owoc, but the biggest issues included a breakup with PepsiCo and losing a $293 million false advertising and trade secrets lawsuit lodged by none other than Monster, which is in fact the company’s largest unsecured creditor as a result. Bang’s got about 2.6 percent of the U.S. energy drink market, which if all goes according to plan will abet Monster’s 35.1 percent market share.