Titan 100: Recognizing 100 CEOs
Feature from Titan100:
Allison DeVane got her big chance to pitch her company on ABC’s Shark Tank in 2016. She unveiled Teaspressa, her unique coffee and tea hybrid beverage, on national TV. The Shark Tank investors declined to get involved and told DeVane she wouldn’t reach her projections for the business.
Today, Teaspressa has surpassed those projections, reaching $2 million in sales, adding a family of new products and selling in national retailers such as Nordstrom, Anthropologie, Barnes & Noble, QVC and more.
“She has adapted and evolved Teaspressa and its products to overcome these challenging times, including launching new consumer experience-based products, virtual tea tastings and programs to help support small businesses,” DeVane’s team said. “She continues to grow Teaspressa and be a role model for young entrepreneurs, earning her recognition as a pioneer in the food and beverage industry.”
Teaspressa is the first and only beverage that is a hybrid of tea and coffee and offered as a healthy alternative to traditional caffeine drinks. Teaspressa is concentrated tea that contains as much caffeine as an espresso shot but provides the health benefits of traditional tea blends.
The company uses a proprietary pressure extraction method to produce tea blends that, similar to espresso, can make tea drinks that are comparable to gourmet coffee.
DeVane was a coffee lover, but she often suffered from headaches and side effects from drinking coffee and wanted an alternative beverage option. In 2016, with more than 10 years of experience in the tea and coffee industry, DeVane launched Teaspressa, offering the rituals and characteristics of coffee but with natural, healthy loose-leaf tea.
Teaspressa’s signature tea blends have the same consistency as coffee and can be brewed at home, so customers don’t lose their morning coffee ritual. Teaspressa’s products include loose-leaf blends as well as a collection of instant beverage flavors.
Teaspressa has continued to expand its products to include sugar cubes designed for liquor and champagne to create instant, mixologist-inspired craft cocktails. DeVane envisions Teaspressa products being a leading product in the hospitality industry, served and sold internationally in restaurants, cafes, hotels and airplanes. Plans are in the works to reopen brick-and-mortar Teaspressa Signature Cafes, which were closed due to COVID-19.
“We believe that every detail matters and hope that when our customers enjoy our products they take at least one moment to themselves,” the company said. “We believe the key to true happiness is appreciating all the small things in life. Our mission is to channel our passion and our message, one cup at a time.”