How We Started a Liquor Brand

Courtney Reum on how he and his brother went from Goldman Sachs bankers to makers of a high-end liquor from the Brazilian açaí berry

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The Entrepreneurs: Courtney Reum, 29, and Carter Reum, 28

Background: Six years ago, Courtney and his brother, Carter, then both Goldman Sachs (GS) investment bankers, took a surfing trip to Brazil. While there the Chicago natives drank smoothies made with the açaí berry, known locally as "purple gold" because of its health properties. Four years later, Reum, who was working in Goldman's consumer-products division, decided it was time to stop observing businesses from the outside and start his own liquor company.

The Company: In May 2007, Reum launched VeeV, an açaí-infused wheat based grain alcohol liquor, positioning it as an alternative to vodka. Initially sold in high-end bars and clubs in Los Angeles, VeeV is now available in cities across the country—as well as on Virgin America flights.

Revenues: Estimated $5 million since 2007.

Their Story: During the five years I worked at Goldman Sachs, I participated in deals involving large multinationals such as Procter & Gamble (PG), but I also cut my teeth on much smaller deals—at least by Goldman's standards—working with the likes of Vitaminwater and Under Armour (UA). While there, I met people who didn't seem that much older than I was who had good ideas and had just decided to take the leap. I decided if they can do it—I don't know if I can—but I'm sure going to give it a try.

Having worked on one large alcohol merger in the spring of 2005 between Allied Domecq (ALYZF.PK) and Pernod Ricard, I was really struck by the lack of innovation in the alcohol space. When you really get down to it, there aren't many industries that have evolved less in the last 100 years than alcohol.

On the flip side, I considered myself a pretty normal consumer and was bored with my normal drink, Grey Goose and soda—or more often Grey Goose and Redbull because I was exhausted from my 100-hour workweeks. I felt like there had to be others like me who were looking for a unique drink that could serve as a badge of who they were and what they stood for.

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