Description
Red Bull GmbH is an Austrian private conglomerate company known for its range of energy drinks of the same name. It is also known for its sponsorship of a range of sporting events and teams. The headquarters of Red Bull GmbH are located in Fuschl am See, Salzburg.
History
Austrian entrepreneur Dietrich Mateschitz and Thai businessman Chaleo Yoovidhya founded Red Bull GmbH in 1984. While working for German manufacturer Blendax (later acquired by Procter & Gamble) in 1982, Mateschitz traveled to Thailand and met Chaleo, owner of TC Pharmaceuticals. He found that the energy drink Krating Daeng, developed by Chaleo's company during the 1970s, helped to ease his jet lag. After seeing market potential in the drink, he partnered with Chaleo in bringing it to Europe. Under their agreement, the partners invested $500,000 each into founding Red Bull GmbH. In return, they would each receive a 49% stake in the company, with the remaining 2% stake going to Chaleo's son Chalerm. They also agreed that Mateschitz would run the company.
Between 1984 and 1987, Red Bull GmbH modified the formula for Krating Daeng to better match European tastes by carbonating the beverage and making it less sweet. In 1987, the company introduced their adapted energy drink into Austria under the name Red Bull. It found huge success there by marketing to young professionals. The brand expanded throughout Europe during the early 1990s, exploding into the United States market during 1997, grabbing 75% of the market within a year. The wealth of Red Bull's founders grew with the company's success, and by March 2012, both Chaleo and Mateschitz had estimated net worths of over $5.3 billion each. Expanding its distribution to over 171 countries, the company sold over 11.5 billion cans of Red Bull in 2022, making it the world's most-consumed energy drink.
In 2018, Red Bull launched its line of organic sodas called Organics by Red Bull, most of it without caffeine.
