Silicon Valley, the world’s elite technology hub and home to many global technology firms, is the paradise for tech startups. Among the many startups that made the Valley a tech mecca, 28-year-old Alix Peabody is now the star. Eminent investors who had infused millions in some of the world’s best tech startup firms like Facebook are now lining up to invest in Peabody’s liquor brand Bev.
Alix Peabody resigned from her job at Bridgewater, a management investment firm, at the age of 24 after she suffered from a rare and serious medical condition. She had to undergo 16 operations in a year which left her in severe need of money to meet her medical expenses. To pay off medical bills, she started throwing parties at her cousin’s place. At the same time, her mind was overwhelmed with some unconventional startup ideas which made her forget about her illness & treatment. And she decided to cash in on what she did best–women parties.She cashed out her entire savings to buy 300 gallons of rose wine to kick-start her entrepreneurial journey.
Alcohol marketing tends to be heavily targeted at men. In the male- dominated alcohol industry, where everything is by and for men, Peabody wanted to start a woman-owned beverage company. Thus she started Bev to redefine the drinking and party culture. The rest is history. From being sold online in San Francisco, Bev’s name became known outside America when big investors came looking to invest in it. The early backers of Facebook, Airbnb, Lyft & Spotify invested in Bev. The big surprise came when
Billionaire Peter Theil, the founder of venture capital firm Founders Fund and an investor in the world’s best hard tech startups, invested $7 Mn in Bev. That was the first time Founders Fund invested in a liquor startup.All these are rewards for Peabody’s fighting spirit. Alix Peabody wants to utilize the fund to expand the sales of Bev globally. She envisions opening a permanent social space for women to enjoy and socialize. Like a female only social club.
