In the competitive landscape of beverage innovations, Jesse Itzler, a serial entrepreneur, identified a promising opportunity in the coconut water industry while preparing for a strenuous 100-mile race. During his training, he experimented with various hydration products and became intrigued by coconut water, a category still nascent in the United States with limited brand presence.
Recognizing this market gap, Itzler founded the company Coco+, which subsequently merged with Zico Coconut Water, a brand co-founded by entrepreneur Mark Rampolla, to consolidate efforts in the growing sector. By 2012, Zico positioned itself for acquisition discussions with Coca-Cola, intent on expanding the latter’s portfolio with this trending beverage.
Initial negotiations, however, were met with a lackluster response. The pitches failed to capture sufficient enthusiasm from Coca-Cola executives, indicating the need for an innovative strategy to highlight Zico’s potential.
Leveraging Celebrity Influence to Revive the Pitch
Itzler’s breakthrough came from an unexpected source: a personal visit to actor Matt Damon’s residence in Miami. During their interaction, Damon, who notably had a coconut tree in his backyard, showed genuine interest in Itzler’s venture.
Damon conveyed his curiosity and hinted at potential involvement, stating, "If anything happens with this company, keep me updated. This is something I may want to get involved with." This endorsement planted the seed for a creative approach in approaching Coca-Cola’s leadership.
When faced with a stalled pitch, Itzler strategically name-dropped Damon to regain the attention of Coca-Cola’s executives. Beginning with the phrase, "Well, my partner Matt Damon and I...", he noted an immediate change in the room's dynamics. One executive disclosed, "What? Matt Damon is your partner? My daughter and I are the biggest Matt Damon fan." This moment marked a turning point in the discussions.
Capitalizing on this momentum, Itzler requested Damon to participate in an unconventional demonstration. Damon agreed to climb his backyard coconut tree wielding a machete, harvest a coconut, and film the process from start to finish.
The video showed Damon carrying the coconut back to his house, slicing it open, inserting a straw, and delivering a lighthearted message directed at Coca-Cola’s then-CEO, Muhtar Kent. This personalized, playful presentation injected new energy into the negotiations.
Itzler later summarized the effect of the video by simply stating, "Checkmate," highlighting the decisive influence of the creative pitch. This ingenuity convinced Coca-Cola to proceed with the acquisition of Zico, cementing Itzler’s vision into a tangible business success.
From Humble Beginnings to Entrepreneurial Success
Jesse Itzler’s journey to prominence is marked by a diverse range of experiences prior to his beverage industry achievements. Early in his career, he undertook various modest roles, such as cleaning meat trucks for a modest hourly wage and pursuing a career in rap music.
His entrepreneurial breakthrough occurred in 2001 with the founding of Marquis Jet, a fractional private jet company. By innovatively marketing sold blocks of flight time rather than entire aircraft, Marquis Jet gained rapid traction, eventually achieving $5 billion in sales. The company drew the attention of Warren Buffett's NetJets, who acquired it in 2010.
Financial Standing and Broader Career Highlights
Jesse Itzler's estimated net worth is around $1 billion, reflecting his successful ventures and exits to respected firms backed by influential figures such as Warren Buffett, as well as corporations like Coca-Cola, SFX, and iFit.
Beyond business, Itzler is also a bestselling author, with two works detailing his personal experiences in intense and unconventional training environments, including time with Navy SEALs and monastic communities.
Further showcasing his eclectic career, Itzler managed the pioneering hip-hop group RUN-DMC, won a Grammy as a rapper in the 1990s, and once had the rapper 50 Cent working under him as an intern.
Jesse Itzler’s story illustrates a combination of persistence, creative thinking, and leveraging unique relationships to transform business opportunities into significant commercial success. His approach with Zico and Coca-Cola exemplifies how unconventional strategies can open doors where traditional methods fall short.