SodaStream

From Wikipedia, the free encyclopedia
For the Australian band, see Sodastream (band).
SodaStream International Ltd.
Type Public
Traded as NASDAQ: SODA
Industry Carbonated drinks
Genre Consumer Goods
Founded 1903
Headquarters Airport City, Israel
Products Home Carbonation Systems
Revenue Increase US$ 436.32 million (2012)
Operating income Increase US$ 45.53 million (2012)
Net income Increase US$ 43.86 million (2012)
Employees 1,480
Website SodaStream
References: [1]

SodaStream is the maker of a consumer home carbonation product based on the principles of making a carbonated drink as originally invented by Guy Gilbey in 1903.[2][3] The device, like a soda syphon, carbonates water by adding carbon dioxide from a pressurized cylinder to create soda water (or carbonated water) to drink. The company also sells more than 100 different types of concentrated syrups and flavourings to make carbonated drinks.[4][5][6] After the company merged with Soda-Club in 1998, it was relaunched with an emphasis on healthier drinks. It went public on the Nasdaq stock exchange in November 2010. Sodastream is currently headquartered in Lod, Israel[7] and has 13 production plants; its principal manufacturing facility is located in the West Bank settlement of Ma'ale Adumim.[8][9][10] Jewish American actress Scarlett Johansson became a brand ambassador for the company in 2014.

Product

SodaStream

The SodaStream drinksmaker is a device that forces carbon dioxide (CO2) gas (stored under pressure in a cylinder) into water, making it fizzy. The product includes a machine, a carbon dioxide cylinder, and one or more reusable beverage bottles (suitable for pressurizing). The bottle, filled with water, is threaded onto the machine, and with a button push or two, compressed CO2 from the cylinder is injected, creating carbonated water. Varieties of concentrated syrups are available, to create regular or diet soft drinks by adding a small amount of concentrate to the bottle after carbonation.

Different flavours are created by adding fruit-flavoured concentrates. During its heyday, several famous brands were available in SodaStream concentrate form including Tizer, Fanta, Sunkist and Irn-Bru.[11] SodaStream also offers diet concentrates sweetened with Splenda, and is used as much for plain sparkling water as for soft drinks. Sodastream and Kraft Foods entered into a partnership in January 2012 involving the use of the Crystal Light and Country Time brand flavours with the Sodastream home carbonation system. In July of the same year the two companies expanded their partnership to include the Kool-Aid flavour line.[12] In 2013 Sodastream partnered with Ocean Spray to market three Ocean Spray flavours for use with the SodaStream home soda machine.[13]

In February 2013, Sodastream and Samsung announced that Samsung refrigerators with built-in SodaStream sparkling water dispensers would be available in the United States beginning in April.[14][15]

Excluding the initial purchase price of the machine, typical cost to the end user (2014, United States dollars) is 25 cents per litre of carbonated water generated[16] plus another 50 cents per litre of pop for the soda syrup.[17] Pricing in other countries may vary.

This often renders SodaStream pop more expensive than pre-mixed store brand colas,[18] presumably due to the price of soda syrup in small retail quantities. As a source of club soda (which is "two cents plain" unflavoured carbonated water, but conventionally retails for the same price as flavoured pop), a home carbonator is cost-effective for all but the smallest quantities.

History

The forerunner of the machine, the "Apparatus for aerating liquids",[19] was created in 1903 by Guy Hugh Gilbey of the London gin distillers, W & A Gilbey Ltd.,[11] and was sold to the upper classes (including the royal household).[5] Flavoured concentrates such as cherry ciderette and sarsaparilla, were introduced in the 1920s, along with commercial carbonation machines,[3][5] and the first machine for home carbonation of drinks was produced in 1955.[11] The SodaStream was originally sold in the UK, and later spread to other countries, including Australia, New Zealand, and Germany.

SodaStream machines were popular during the 1970s and 1980s in the UK, and are associated with nostalgia for that period.[5][6] Their slogan, "Get busy with the fizzy", started as an advertising jingle in 1979 and proved so popular that they added it to their logo. The slogan was initially dropped in 1996 after 17 years,[20] but was reinstated in 2010 along with a new marketing campaign in the UK.[21]

Originally the company operated as a subsidiary of W & A Gilbey, Ltd.[11] In 1985, after various changes of ownership, SodaStream became a wholly owned subsidiary of Cadbury Schweppes, although it operated as an autonomous business within the group.[11] In 1998 SodaStream was bought by Soda-Club, an Israeli company founded in 1991 by Peter Wiseburgh, who from 1978 to 1991 had been Israel's exclusive distributor for SodaStream, creating the world's largest home carbonation systems supplier.[3][22] In 2003 Soda-Club closed the SodaStream factory in Peterborough, moving the company's gas cylinder refilling and refurbishment department to Germany.[23] Under the ownership of Soda-Club, and with CEO Daniel Birnbaum at the helm since 2007, the brand has been relaunched in many markets, with new machines and new flavours available in 41 countries around the world.[24] In 2012 Sodastream teamed with Yves Béhar to introduce SodaStream Source, a line of soda machines designed with a special emphasis on sustainability.[25][26] Béhar's design earned Sodastream a Good Housekeeping Institute seal of approval in 2013.[27]

2010 Nasdaq IPO

Sodastream International Ltd. went public on the Nasdaq stock exchange in November 2010.[28] The stock offering was jointly led by J.P. Morgan Securities and Deutsche Bank Securities.[29] At the time, the IPO was the eighth largest for an Israeli company on the Nasdaq[30] and during the year 2010 one of the top-performing IPOs generally.[31][32] To celebrate Sodastream's listing on the Nasdaq, CEO Daniel Birnbaum was invited to ring the exchange's closing bell on 3 November 2010.[33] By August 2011, Sodastream's market cap had risen from $367 million to $1.46 billion.[34][35] During 2012, the stock experienced aggressive growth, with earnings per share growing 57%. In June 2013, Israeli financial newspaper Calcalist incorrectly predicted a two billion dollar Pepsi takeover of Sodastream, sending SODA stock initially higher before the rumours were promptly debunked by PepsiCo.[36]

Analysts had expected another 27% growth in 2013 with earnings projected to grow 30% over the next 5 years.[37] 2013's actual net earnings were down relative to 2012 despite an increase in sales; in 2014 the company's stock dropped to its lowest value since 2012. Barclays PLC analyst David Kaplan cited U.S. Secretary of State John Kerry's warnings about the economic effects of boycotts and the company's failure to clarify the reasons for missed earning targets as causes for the drop.[38]

Sales

Some 20% of households in Sweden owned Sodastream machines as of 2010.[39] In January 2011, the company marked the sale of its millionth soda maker in the country.[40] Europe accounts for 52% of Sodastream's sales.[41]

Sodastream has been a publicly traded company since 2010.[42] Since May 2012, Sodastream is sold in over 2,900 Walmart locations in the United States. In June equity research firm Monness Crespi Hardt & Co. stated that Sodastream's machines were selling out at Walmart.[43][44] Sodastream's U.S. sales grew from US$4.4 million in 2007 to $40 million in 2011.[45] Despite record sales, profit margins are declining. SodaStream's estimated 2013 net income ($41.5 million on an annual revenue of $562 million in 2013, compared to 2012's $43.86 million of net income on $436.32 million of revenue) fell short of targets and investor expectations.[46]

Rivals

SodaStream competes with kitchen appliance makers Cuisinart and Hamilton Beach, as well as various smaller firms.[47][48] Cuisinart first marketed its version of Primo Water's countertop Flavorstation in 2012;[49] Hamilton Beach introduced its 85101 Fizzini Hand-held Carbonated Water Maker in August 2013.[50] In some countries, Cuisinart distributes a version of the handheld SodaSparkle[51] in addition to its own SMS-201 or SMS-216 counter-top soda carbonator.

The non-standard CO2 cartridges used by each of these rival vendors are not interchangeable. Soda syrups and concentrates may be obtained from any competing vendor.

Gas canisters

The Sodastream counter-top beverage carbonators are typically bundled with a 14.5 ounce proprietary CO2 cylinder, which the company optimistically claims to be able to carbonate 60 litres (13 imp gal; 16 US gal) of water. A few selected models can also accept a 33 ounce cylinder advertised as carbonating 130 litres (29 imp gal; 34 US gal) of water. When a cylinder is empty, it must be returned to a Sodastream reseller for replacement.[52]

The cylinders are proprietary and therefore not compatible with various pressurized carbon dioxide canisters which consumers refill inexpensively from local vendors for applications such as beer kegs, paintball, welding and fire extinguishers.

Sodastream claims that it does not sell the CO2 canisters to consumers, but instead "licences" them and expressly limits how they can be used in their User License Certificate.[53] Local CO2 vendors generally are not permitted to refill Sodastream canisters ("carbonators"), which include a proprietary valve designed to defeat refilling.[54]

The intention to use the proprietary valve as an anti-competitive tactic is detailed in European Patent Application EP1382899, which states explicitly "One problem that may arise in the refilling of such containers is that of ensuring that the containers are only filled with the correct fluid and that the fluid is provided only from authorised sources. Current filling systems can be duplicated relatively easily thereby enabling the refilling of a container by another fluid and/or by non-authorised sources. A typical example are CO2 cylinders which are specially designed to fit into machines requiring gas pressure, e.g. for soda-making machines. Such machines for home use can generally be filled from any suitable CO2 source. Thus, the provider of the original containers cannot ensure that the users will only go to that provider when the user desires to refill the container."[55]

These mechanisms effectively elevate the cost of refilling a tank to 10 to 20 times the going market rate.[56]

According to Sodastream CEO Daniel Birnbaum, "We created a razor and a razor-blade business model. The razor is obviously the soda maker and we have three blades: the CO2 refills, the flavour syrups, and the bottles. So it's not a one-time sale -- the blades are our future revenue stream. We acquire users, build our installed base, and we cultivate those users for life."[57]

In Sweden in 1984, carbonic acid supplier Sydbrand, primarily a supplier of fire equipment, was sued successfully by Sodastream for trademark infringement for refilling Sodastream-labelled CO2 canisters.[58] In 2006, Sodastream lost a suit against the resale of its Alco2jet brand canisters on eBay on the grounds that the canisters were only lent, not sold.[59]

Alternatives

Various products have been proposed by third-party vendors to address the high refill cost for consumables for these devices.

One option is the Sodastream machine to paintball tank adapter ("SodaMod"), which converts the CO2 fitting on a standard twelve-ounce paintball CO2 canister[60] to allow that cylinder to be installed directly in the home soda carbonator.[61][62] This standards-compliant container[63] may be refilled inexpensively at sporting goods stores.

Another, the "Freedom Valve", is a mechanically compatible replacement valve for existing SodaStream cylinders which deliberately does not contain the proprietary patented anti-refill valve.[54] Like the original pre-2008 Sodastream cylinder, there are no refill restrictions. With these, an additional adapter is needed to convert the Sodastream connector to one of the standard CO2 connectors for refilling.[64]

Various third-party hoses and connectors can connect bulk CO2 cylinders.[65] These tanks, physically too large to be mounted internally, are typically stored under kitchen countertops.[64] Bulk tanks, commonly used for beer kegs or restaurant soda fountains, have also served as a CO2 source to refill smaller cylinders.

Syrups and concentrates

Sodastream advertises "100 flavours of the world", an assortment of syrups and concentrates which include "cola", "natural", "clear", "green tea", "ice tea", "isotonic", fruit, "local", "energy", "mixers" and "energy" drinks.[66] The concentrates are packaged as 500mL bottles in which one capful suffices to flavour one litre of soda; 0.5L of concentrate makes 12L of pop.

Sodastream can only carbonate water, one litre at a time, in the supplied bottle — the concentrates are added after carbonated water is removed from the machine. This poses a limitation if one wishes to carbonate wine or fresh fruit juices.[67][68]

There are no restrictions on obtaining soda syrup from competing vendors. Restaurant-standard 20 litre or 4.2 imperial gallons (5.0 US gal) "bag in box" soda fountain syrups are one means to obtain name-brand pop instead of Sodastream's generic brand. As these are not concentrates, the standard mix is five parts carbonated water to one part syrup. Fountain syrups are available from vendors such as Sams Club in the US or from restaurant supply houses.

Users have experimented with various alternative flavours and syrups, including snow cone syrup, concentrates from real fruit juices, powdered drink mixes and home-made or supermarket concoctions.[69] A few small independent vendors offer speciality flavours such as soft drink syrups with real cane sugar.[70][71] A modern version of the "Hires Root Beer kit" unsweetened concentrate is distributed by the Hires Big H drive-in restaurant chain,[72] but its users must add both sugar and carbonated water.

Environmental marketing

In its marketing, the company currently focuses on environmental attractiveness of using tap water and returnable gas cylinders.[4] Sodastream has been involved in numerous environmental projects, including waste reduction, beach cleanup and reforestation.[73]

Americans alone dispose of 130 billion bottles and cans every year,[74] and 340 billion beverage bottles and cans are not recycled every year worldwide.[75] According to Sodastream, use of home carbonation systems reduces the amount of packaging waste from bottles and cans as well as the amount of pollution caused by the transport of bottled drinks.[76] According to an analysis by Carbon Trust, SodaStream is 75% less greenhouse gas intensive compared to generic colas sold in plastic (PET) bottles in the UK.[77]

In 2011, Sodastream partnered with the Israel Union for Environmental Defense to launch a joint initiative promoting waste reduction and an improvement in the quality of tap water.[78][79] Also in 2011, Sodastream launched a joint campaign together with Erin O'Connor to raise awareness to the effects of plastic bottle waste on the environment.[80] As part of the company's support for Climate Week, in 2012 Sodastream donated £1,000 to a school in Crediton, Devon in the United Kingdom to fund an educational beach cleaning initiative.[81][82] Sodastream partnered with Trees for the Future in 2012 to launch the Replant Our Planet initiative: for each home beverage carbonation system sold from its Rethink Your Soda product line, Sodastream committed to planting hundreds of thousands of trees in Brazil.[83][84] Sodastream Italy and the Municipality of Venice partnered in 2012 to organize Join the Stream: fight the bottle, a cleanup initiative with its starting point at the Lido di Venezia.[85] Actress Rosario Dawson launched the first annual Unbottle the World Day in New York City in July 2012. The campaign, initiated by Sodastream in order to raise awareness to the impact of cans and plastic bottles on the environment, calls on the United Nations to designate one day of the year a "Bottle Free Day."[86]

Advertising campaigns

In 2010 Sodastream launched an international campaign aimed at raising awareness to bottle and can consumption. The campaign involves the display of 9-cubic-metre cages in various countries, each containing 10,657 empty bottles and cans. Begun in Belgium, the Cage campaign has since visited 30 countries with the message that the waste produced by one family over the course of five years from beverage containers – 10,657 bottles and cans – can be replaced by a single Sodastream bottle. When a cage went on display in Johannesburg, South Africa in 2012, Coca-Cola demanded that Sodastream remove its products from the cages and threatened to sue Sodastream. Sodastream responded by dismissing the threats and announcing that it would display the cage outside Coca-Cola's headquarters in Atlanta.[87][88][89][90]

A 30-second commercial promoting sustainability,[91] showing soda bottles exploding each time a person makes a drink using a Sodastream machine, was banned in the United Kingdom in 2012.[92][93] Clearcast, the organization that preapproves TV advertising in the UK, explained that they "thought it was a denigration of the bottled drinks market."[94] The same ad, crafted by Alex Bogusky, ran in the United States, Sweden, Australia, and other countries. An appeal by Sodastream to reverse Clearcast's decision to censor the commercial was rejected.[95][96][97] A similar advertisement was expected to air during Super Bowl XLVII in February 2013, but was rejected by CBS for its direct references to Coke and Pepsi, significant sponsors of the NFL. A replacement advert featured generic soda brands in their place.

Production facilities

SodaStream has 13 production facilities worldwide. In, 2014, Sodastream's principal manufacturing facility in Mishor Adumim employed 1,300 workers, including 950 Arabs.[98] In 2011, another plant opened in the Alon Tavor industrial zone near the Israeli city of Afula. A third plant, which began operating in 2011 in Ashkelon, produces Sodastream syrups and flavours. The cornerstone for a fourth plant was also laid at the Idan HaNegev Industrial Park north of Beersheba in 2011.[8][99][100] In 2012, Sodastream said that it will invest NIS 130 million in the construction of the plant, which it said would provide employment for around 1,000 workers, many of them Negev Bedouins.[101]

Controversy

Further information: International law and Israeli settlements

The location of one of SodaStream's plants is part of the controversy over West Bank territories.[102] Sodastream has been criticized for operating its primary manufacturing plant in the Mishor Adumim industrial zone, located inside Ma'ale Adumim, settlement in the occupied West Bank and a Jerusalem suburb.[103]

The Ma'ale Adumim settlement was established on land expropriated by Israel.[104][105] According to the Israeli human rights group B'Tselem, the settlement (including the Mishor Adumim Sodastream factory), was built on land taken from 5 Palestinian towns and 2 Bedouin tribes evicted by the Israeli army.[104][105] Israeli settlements in the West Bank, including Ma'ale Adumim, are regarded as illegal under international law.[106]

The European Union's highest court ruled in 2010 that Sodastream was not entitled to claim a "Made in Israel" exemption from EU customs payments for products manufactured in the West Bank because Israeli settlements in occupied Palestinian territory are outside the territorial scope of the EC-Israel Agreement.[107][108][109][110]

Norway, Sweden and Finland have boycotted SodaStream products from the Mishor Adumim factory, according to SodaStream CEO Daniel Birnbaum, who assures consumers that "Markets like Sweden, Finland, Denmark and Norway only receive products from outside this factory, from the mother of human rights – China."[111]

In a small legal victory for SodaStream, a Paris court ruled that Association France Palestine Solidarité (AFPS), a group campaigning to remove SodaStream from stores, must compensate SodaStream €6500 because the group incorrectly claimed the products are sold "illegally and fraudulently" due to their use of the "Made in Israel" label while being partly manufactured in the West Bank.[112]

Human Rights Watch has stated that "It is impossible to ignore the Israeli system of unlawful discrimination, land confiscation, natural resource theft, and forced displacement of Palestinians in the occupied West Bank, where SodaStream is located".[10][113][114] The United Church of Canada launched a campaign to boycott Sodastream's products manufactured in the occupied West Bank.[115]

In January 2014, Scarlett Johansson resigned as ambassador for Oxfam, a role she had held for eight years, in protest against Oxfam's position on Israeli settlements in the territories. Oxfam claimed that SodaStream furthers the poverty and denial of rights of the Palestinian communities,[116] and opposes all trade with the settlements citing their illegality under international law.[117] Johansson reportedly resigned because of "a fundamental difference of opinion in regards to the boycott, divestment and sanctions movement".[116] In her statement she described Sodastream as "not only committed to the environment but to building a bridge to peace between Israel and Palestine, supporting neighbours working alongside each other, receiving equal pay, equal benefits and equal rights."[116] SodaStream CEO, Birnbaum has also accused Oxfam of supporting the BDS (Boycott, Divestment and Sanctions) movement against Israel as a whole, a charge Oxfam denied, saying that "this is about trade from the settlements" and specific to settlements outside Israel's pre-1967 border.[118][111]

Daniel Birnbaum, CEO of SodaStream, said that their factories are apolitical "We don't take sides in this conflict", adding that they are "building bridges between us and the Palestinian population, and we provide our Palestinian employees with respectable employment opportunities and an appropriate salary and benefits".[119] Sodastream employs 500 West Bank Palestinians.[120] Addressing the location of SodaStream's Ma'ale Adumim plant, Birnbaum said "we're here for historical reasons", the choice made by company founder Peter Weissburgh, back in the 1990s, long before SodaStream was taken over by the current owners, who appointed Birnbaum in 2007.[121] Birnbaum said that factory presence here is now a reality, and he won't bow to political pressure to close it. "We will not throw our employees under the bus to promote anyone’s political agenda", he said, adding that he "just can't see how it would help the cause of the Palestinians if we fired them."[121]

Supporters of the factories cite the West Bank's high unemployment rate and low GDP as evidence the jobs are badly needed. Opponents have argued that the small number of jobs provided by the factories in the settlements do not outweigh the effect the Israeli presence on the Palestinian economy.[104] Others have argued that SodaStream is exploiting local cheap labour.[122][123] Workers' incomes at the factory are substantially above the 1450 shekel/month Palestinian Authority minimum wage.[111]

Most of the Palestinian employees interviewed by The Christian Science Monitor have supported Johansson's stance and opposed a boycott of Sodastream stating that a boycott would only hurt them [102] but some employees have not, including one Palestinian that said he felt ashamed to work for Sodastream and felt like a "slave" working on the assembly line for twelve hours a day.[102] Another Palestinian employee in the West Bank plant, interviewed by Reuters, said that there was a lot of racism at the factory and that, "Most of the managers are Israeli, and West Bank employees feel they can't ask for pay rises or more benefits because they can be fired and easily replaced. [102] [124]

See also

References

  1. ↑ SodaStream International Ltd.
  2. ↑ Leslie Bunder (1 September 2006). "Get busy with Israeli fizzy". Something Israeli. 
  3. ↑ 3.0 3.1 3.2 "Getting busy with the fizzy". Priority (25) (Australia Post). 
  4. ↑ 4.0 4.1 SodaStream Fizzes Up Global Market For Carbonated and Flavored Drinks. Wall Street Journal. 13 November 2012
  5. ↑ 5.0 5.1 5.2 5.3 "Sodastream". Waitrose Food Illustrated. Waitrose. 12 September 2006. Retrieved 12 September 2006. 
  6. ↑ 6.0 6.1 David Smith (18 June 2006). "Wham! Big hair and Eighties pop make internet comeback". The Observer. Retrieved 12 September 2006. 
  7. ↑ "Is The Next Hot Thing Your Own Cool Seltzer?". Jewcy.com. 
  8. ↑ 8.0 8.1 Sodastream breaks ground for Negev factory, Globes, 6 July 2011
  9. ↑ Bourke, Dale Hanson. "5 points about the SodaStream-Oxfam dust-up". Washington post. Retrieved 01/2/2014. 
  10. ↑ 10.0 10.1 Browning, Noah (30/1/2014). "Actress Johansson-Oxfam rift puts spotlight on West Bank". Reuters. Retrieved 31/1/2014. 
  11. ↑ 11.0 11.1 11.2 11.3 11.4 "Carbonated drinks: a report on the supply by manufacturers of carbonated drinks in the United Kingdom". Competition commission. 15 August 1991. 
  12. ↑ "Kraft and SodaStream in deal for Kool-Aid". The Chicago Tribune. Reuters. 18 July 2012. Retrieved 30 July 2012. 
  13. ↑ "US HOT STOCKS: Guidewire, OpenTable, Papa John's, SodaStream". The Wall Street Journal. 27 February 2013. Retrieved 28 February 2013. 
  14. ↑ Stilwell, Victoria (15 February 2013). "SodaStream Inside Samsung Fridges Spurs Rally: Israel Overnight". Bloomberg. Retrieved 15 February 2013. 
  15. ↑ Melby, Caleb (14 February 2013). "SodaStream and Samsung Debut A Fridge With Sparkling Water Dispenser". Forbes. Retrieved 15 February 2013. 
  16. ↑ Based on US $15 refill cost (as of 2014) at http://www.sodastreamusa.com/60L-Carbonators-C38.aspx for a CO2 cylinder optimistically rated by Sodastream to carbonate 60L of water.
  17. ↑ Based on US $5-7 for 500mL of concentrate, which flavours 12L of pop, per http://www.sodastreamusa.com/Sodamix-Flavors-C12.aspx - prices vary widely by flavour.
  18. ↑ As a point of comparison, the $5 US case of 24 twelve ounce cans of "Sam's Cola" is 58.8 cents/litre.
  19. ↑ "Aerating apparatus". 17 February 1981. Retrieved 12 September 2006. 
  20. ↑ "SodaStream drops Get Busy With The Fizzy". PRNewswire. 20 May 1996. Retrieved 12 September 2006. 
  21. ↑ "SodaStream is bringing the fizz back to the UK". SodaStream UK. 13 July 2010. 
  22. ↑ "Food & Drink 1998". UK Activity Report (UK Business Park). 1 May 1998. 
  23. ↑ "SodaStream". UK Activity Report (UK Business Park). 19 June 2003. 
  24. ↑ Coletta, Louise (21 September 2012). "SodaStream boss Birnbaum gets 'busy with the fizzy'". BBC News. Retrieved 5 October 2012. 
  25. ↑ Rose, Steve (18 September 2012). "SodaStream: Yves Béhar's fizzy drinks machine for the future". The Guardian. Retrieved 5 October 2012. 
  26. ↑ "SodaStream partners with top designer Yves Béhar to launch the Source Soda Maker". SodaStream. 25 April 2012. Retrieved 5 October 2012. 
  27. ↑ "Good Housekeeping Institute accolade for SodaStream". HousewaresLive.net. Faversham House Group. 23 January 2013. Retrieved 25 January 2013. 
  28. ↑ "Sodastream revenue rose 53% in 2010". Globes. 1 March 2011. Retrieved 5 April 2012. "Sodastream's cash and cash equivalents rose to €52.9 million at the end of 2010, mostly due to the proceeds from the IPO in November." 
  29. ↑ Koren, Hillel (3 November 2010). "SodaStream IPO makes a splash on Nasdaq". Globes. Retrieved 5 April 2012. "JPMorgan Securities LLC and Deutsche Bank Securities Inc. are the joint bookrunning managers for the offering." 
  30. ↑ Tsipori, Tali (1 December 2010). "Rising bubbles". Globes. Retrieved 5 April 2012. "In early November, in an IPO on Nasdaq, it raised $125.3 million at $20 per share, making it the eighth largest Israeli IPO of all time over there." 
  31. ↑ Bespoke Investment Group (23 November 2010). "2010's IPO Winners". Seeking Alpha. Retrieved 5 April 2012. 
  32. ↑ Bespoke Investment Group (13 December 2010). "Top Performing IPOs in 2010". Seeking Alpha. Retrieved 5 April 2012. 
  33. ↑ "SodaStream Rings The NASDAQ Stock Market Closing Bell". Nasdaq. 3 November 2010. Retrieved 5 April 2012. "In honor of the occasion, Daniel Birnbaum, Chief Executive Officer of SodaStream (SODA), will ring the NASDAQ Closing Bell." 
  34. ↑ Zalik, Nir (1 December 2010). "SodaStream sales bubbled in Q3". Haaretz. Retrieved 5 April 2012. "In its IPO, the company, which makes machines to carbonate water and make flavored soda drinks in the home, raised $109 million at $20 per share and a market cap of $367 million." 
  35. ↑ Tsipori, Tali (1 August 2011). "2 Sodastream investors sell shares at triple IPO price". Globes. Retrieved 5 April 2012. "Sodastream's share price rose 3.6% on Friday to $73.35, giving a market cap of $1.46 billion, 237% above its IPO price." 
  36. ↑ Jarvis, Paul (2013-06-06). "SodaStream Surges in New York as PepsiCo Denies Bid Plan". Bloomberg. Retrieved 2014-02-06. 
  37. ↑ Ryniec, Tracey (6 February 2013). "Bull of the Day: SodaStream (SODA)". Zacks Investment Research. Retrieved 6 February 2013. 
  38. ↑ Popina, Elena (3/2/2014). "SodaStream Declines Amid Jewish Settlement Boycott Concern". Bloomberg. Retrieved 05/02/2014. 
  39. ↑ Zalik, Nir (20 October 2010). "SodaStream to float stock on Wall St.". Haaretz. Retrieved 26 June 2012. 
  40. ↑ Munarriz, Rick Aristotle (1 February 2011). "SodaStream Wants to Sweden You Up". The Motley Fool. Retrieved 26 June 2012. 
  41. ↑ Boyle, Matthew (26 June 2012). "SodaStream Plans to Enter U.S. Grocery, Drug Stores in 2014". Bloomberg. Retrieved 26 June 2012. 
  42. ↑ Meghan Keneally (2014-01-21). "Scarlett Johansson is SodaStream's global ambassador, as factories in West Bank cause controversy". Daily Mail (UK). Retrieved 2014-02-02. 
  43. ↑ "סודה לכל דורש" [Soda for everyone] (in Hebrew). Globes. 3 June 2012. 
  44. ↑ Harvey, Christine (21 June 2012). "SodaStream Surges as Products Sell Out at Wal-Mart Stores". Bloomberg. Retrieved 26 June 2012. 
  45. ↑ Fisher, Daniel (15 June 2011). "Will SodaStream's Bubble Ever Burst?". Forbes. Retrieved 26 June 2012. 
  46. ↑ "SodaStream Loses Its Fizz, Shares Down 25%". Wall Street Journal. 2014-01-13. Retrieved 2014-02-02. 
  47. ↑ "Just because you like bubbly water, you don't have to buy SodaStream: a new guide to alternatives". Mondoweiss. 2013-02-07. Retrieved 2014-02-02. 
  48. ↑ The Canadian-made Sodamistic is another direct competitor.
  49. ↑ "Cuisinart partners with Primo on soda maker". Greensboro - The Business Journal. 2012-11-05. Retrieved 2014-02-02. 
  50. ↑ Krepshaw, Brian (2013-07-03). "Hamilton Beach Fizzini carbonates with a twist". C-NET. Retrieved 2014-02-02. 
  51. ↑ Cuisinart's CSS-100C is http://www.sodasparkle.com/?page_id=755
  52. ↑ John Mahoney (June 2012). How To Make Your Own Home Drink Carbonation System. Popular Science. Retrieved 2014-02-03. 
  53. ↑ "Sodastream | FAQ: Why do I have to pay taxes on my Internet order?". Sodastream. Retrieved 3 October 2011. "The carbonator [carbon dioxide canister] remains the property of SodaStream at all times in accordance with the terms and conditions stated in the User License Certificate." 
  54. ↑ 54.0 54.1 "FreedomValve". CO2 Doctor. Retrieved 3 October 2011. 
  55. ↑ A valve for closing a container, container and a system and method for filling a container, European Patent Application EP1382899
  56. ↑ Richard J. Kinch. "Carbonating at Home with Improvised Equipment and Soda Fountains". 
  57. ↑ "SodaStream's DIY Pepsi Machine". Fast Company. 2011-04-14. Retrieved 2014-02-06. 
  58. ↑ Nytt Juridiskt Arkiv. Arne Brunnberg. 1988. p. 183.  Swedish Supreme Court, 1988-03-18, case number T577-86, 4 § 1 st. Trademarks Act (1960:644).
  59. ↑ "Oberlandesgericht München: U (K) 3622/06". Rechtsprechungsdatenbank. judicialis.  Higher Regional Court Munich, verdict announced 01/02/2007, file number U (K) 3622/06 (rejection of appeal).
  60. ↑ Sodastream publishes tank size based on an optimistic estimate of the amount of water that can be carbonated; other vendors indicate tank size by upper limit of weight of CO2. The "Sodastream 60L" (Genesis, Penguin and Crystal) is 14.5 oz, the "Sodastream 130L" (FountainJet, Edition 1, Dynamo and Fizz) is 33oz, the "Sodastream Pure" accepts only a 9oz tank. The various standard paintball tank sizes hold 9, 12, 20 or 24 ounces of CO2, per and .
  61. ↑ "SodaMod: Save Money On SodaStream Refills With a Hacked Paintball Canister". Gizmodo. 2012-03-15. Retrieved 2014-02-01. 
  62. ↑ "Free your Sodastream with the SodaMod CO2 adapter". MNN - Mother Nature Network. 2012-10-27. Retrieved 2014-02-01. 
  63. ↑ ASTM F1750-05, "Specification for Paintball Marker Threaded-Propellant Source Interface"
  64. ↑ 64.0 64.1 is one such assortment of conversion adapters between Sodastream and standard connectors; there are others.
  65. ↑ CGA (Compressed Gas Association) pamphlet V-1, "Standard for Compressed Gas Cylinder Valve Outlet and Inlet Connections", contains standards for the CGA-320 fitting on commonly used bulk CO2 tanks.
  66. ↑ "100 flavours of the world", Sodastream, April 2012, printed chart packaged with the Sodastream appliance.
  67. ↑ "Review: SodaStream Gets Fizzy Water Right". Five Percent. Retrieved 2014-02-01. 
  68. ↑ Sodastream's statement that "Only water should be carbonated in the SodaStream home soda maker. You risk damaging your soda maker, not to mention making a big fizzy mess! The money-back guarantee and the warranty are both invalidated if you carbonate any liquid other than water in your soda maker." has been cited by the makers of Fizz Giz and Soda-Stick as a selling point for their competing product, a hand-held carbonator.
  69. ↑ "Alternatives to SodaStream or Primo Flavorstation Flavorings". Rodsbooks. 2013-03-27. Retrieved 2014-02-01. 
  70. ↑ "Flavours". Pittsburgh Soda Pop. Retrieved 2014-02-03. 
  71. ↑ http://realsugarcola.com is a fountain bag-in-box syrup vendor that has repackaged part of its line in 32-ounce bottles.
  72. ↑ "Homemade Root Beer Recipe". Hires Big H Drive-in. Retrieved 2014-02-03. 
  73. ↑ "SodaStream machines return". Telegraph. 8 December 2009. Retrieved 9 October 2010. 
  74. ↑ Melby, Caleb (19 July 2012). "SodaStream's Moneymaking Battle Cry: Get Rid Of Plastic Bottles". Forbes. Retrieved 25 January 2013. 
  75. ↑ Euromonitor 2009 - Beverage Packaging. As cited by SodaStream.
  76. ↑ "Environmentally Friendly". Sodastream. Retrieved 29 March 2012. 
  77. ↑ Sodastream and the trouble with green marketing. 6 February 2013
  78. ↑ "שיתוף פעולה בין סודה סטרים לבין אדם טבע ודין" [Cooperation between Sodastream and the Israel Union for Environmental Defense] (in Hebrew). Israel Union for Environmental Defense. 29 March 2011. Retrieved 29 March 2012. 
  79. ↑ Aharoni, Efrat (25 May 2011). "Sodastream to rebrand as green in Israel". Globes. Retrieved 29 March 2012. 
  80. ↑ "Erin O'Connor Backs 'A World Without Bottles' Campaign". Female First. 14 April 2011. Retrieved 5 April 2012. 
  81. ↑ Keeble, Andy (28 March 2012). "School eco team tackles beach litter". North Devon Gazette. Retrieved 29 March 2012. 
  82. ↑ "Primary school awarded bursary for helping the environment". This Is The Westcountry. 25 March 2012. Retrieved 29 March 2012. 
  83. ↑ Munarriz, Rick Aristotle (22 March 2012). "SodaStream Wants You to Hug a Tree, Drink a Soda". The Motley Fool. Retrieved 29 March 2012. 
  84. ↑ "In Honor of World Water Day, SodaStream and Trees for the Future Announce 'Replant our Planet,' a Reforestation Program to Plant Hundreds of Thousands of Trees in Brazil". MarketWatch (Airport City, Israel; Silver Spring, Maryland). PR Newswire. 21 March 2012. Retrieved 5 April 2012. 
  85. ↑ "Progetto Join the Stream" [Project Join the Stream] (in Italian). City of Venice. 23 May 2012. Retrieved 14 June 2012. 
  86. ↑ Carrion, Kelly (20 July 2012). "Rosario Dawson helps kickoff 'Unbottle the World Day'". NBC Latino. Retrieved 31 July 2012. 
  87. ↑ Hayut, Ilanit (21 June 2012). "SodaStream sends Coke message in 10,657 bottles". Globes. Retrieved 26 June 2012. 
  88. ↑ Davidovich, Joshua (21 June 2012). "SodaStream tells Coke that copyright suit is garbage". The Times of Israel. Retrieved 26 June 2012. 
  89. ↑ Melby, Caleb (18 June 2012). "New Cola War? Sodastream Refuses To Comply With Coca-Cola Cease-And-Desist Letter". Forbes. Retrieved 26 June 2012. 
  90. ↑ Stanford, Duane D. (21 June 2012). "SodaStream Takes Marketing Tactic to Coca-Cola’s Hometown". Bloomberg. Retrieved 26 June 2012. 
  91. ↑ Petrecca, Laura (11 January 2013). "Pepsi, Bud join forces to make Super Bowl splash". USA Today. Retrieved 25 January 2013. "SodaStream will have a humorous commercial that promotes sustainability and takes a jab at conventional bottle and can soft-drink marketers." 
  92. ↑ Rocco, Matthew (9 January 2013). "U.K.-Banned SodaStream Ad Will Air During Super Bowl". Fox Business. Retrieved 25 January 2013. 
  93. ↑ Parekh, Rupal (26 November 2012). "SodaStream Campaign by Alex Bogusky Gets Yanked in the U.K.". Advertising Age. Retrieved 25 January 2013. 
  94. ↑ Thomas, Charlie (23 November 2012). "Sodastream Advert Pulled From I'm A Celebrity Slot For 'Denigrating Bottled Drinks'". The Huffington Post. Retrieved 25 January 2013. 
  95. ↑ Sweney, Mark (28 November 2012). "SodaStream 'black' TV ad protests regulator's ban on original campaign". The Guardian. Retrieved 26 January 2013. "SodaStream's campaign, which in the end frame hints to viewers that the censored ad is available to watch on YouTube, is aiming to put pressure on regulators who are currently assessing an appeal by the company over its original TV ad onscreen, which is due to be decided on 3 December." 
  96. ↑ Vinjamuri, David (27 November 2012). "SodaStream Scores Another PR Break: Bogusky's Ad Rejected In The UK". Forbes. Retrieved 26 January 2013. "But that’s hardly the kind of denigration that deserves censorship." 
  97. ↑ Hall, Emma (4 December 2012). "SodaStream Seeks Legal Advice After Failed Appeal on U.K. Ad". Advertising Age. Retrieved 26 January 2013. 
  98. ↑ At SodaStream Palestinians hope their bubble won't burst
  99. ↑ "Form 20F: Annual and Transition Report, page 17". 
  100. ↑ Azulai, Yuval (4 April 2012). "Sodastream wins NIS 25m grant for Negev plant". Globes. Retrieved 26 June 2012. 
  101. ↑ SodaStream to invest in Negev, The Times of Israel, 4 April 2012
  102. ↑ 102.0 102.1 102.2 102.3 Christa Case Bryant (January 30, 2014). "Palestinian workers back Scarlett Johansson's opposition to SodaStream boycott (+video)". Christian Science Monitor. 
  103. ↑ "Sodastream setting up plant within green line". Haaretz. 
  104. ↑ 104.0 104.1 104.2 Mackey, Robert (30/1/2014). "Scarlett Johansson Chooses SodaStream Over Oxfam After Dispute About West Bank Factory". Retrieved 31/01/2014. 
  105. ↑ 105.0 105.1 Jeffay, Nathan (30/1/2014). "SodaStream Controversy Fueled by Lies and Distortions — and Israel's Occupation". Forward. Retrieved 31/01/2014. 
  106. ↑ "SodaStream boss admits West Bank plant is 'a pain in the ass'". Haaretz. 29 January 2014. Retrieved 30 January 2014. 
  107. ↑ "EU Eyes Exports from Israeli Settlements". Bloomberg Businessweek. 
  108. ↑ "EU Court Allows Duties on Products from the Settlements". Spiegel Online. 
  109. ↑ "EU court: illegally occupied West Bank, Gaza not Israeli". UPI. 
  110. ↑ Richard Branson (2014-01-30). "Scarlett Johansson quits her global ambassador position at Oxfam". Euronews. Retrieved 2014-02-06. 
  111. ↑ 111.0 111.1 111.2 "SodaStream Boycott: At West Bank Factory, Palestinian Workers Reveal What They Think About Their Employer". International Business Times. Retrieved 2014-02-06. 
  112. ↑ French court rules boycott group cease denigrating campaign against SodaStream, Haaretz, Jan. 29, 2014
  113. ↑ "Scarlett Johansson quits Oxfam amid SodaStream row". Channel4. 30/1/2014. 
  114. ↑ BROWNING, NOAH. "Scarlett ­Johansson quits Oxfam over SodaStream". The Scotsman. Retrieved 6/2/2014. 
  115. ↑ United Church of Canada's Israeli boycott campaign an 'assault on the Jewish people', Toronto group says
  116. ↑ 116.0 116.1 116.2 "Scarlett Johansson quits Oxfam role over SodaStream row". BBC. 30 January 2014. 
  117. ↑ "Scarlett Johansson quits as Oxfam ambassador". CBC News. 2014-01-28. Retrieved 2014-02-01. 
  118. ↑ Lazaroff, Tovah. "SodaStream accuses Oxfam of funding BDS". Jerusalem Post. Retrieved 2014-02-06. 
  119. ↑ Embarrassment at Israeli President Shimon Peres's House
  120. ↑ Boycott Israel Push Against SodaStream Could Hurt Palestinian Workers. 10 February 2013
  121. ↑ 121.0 121.1 SodaStream Boss Admits West Bank Plant Is 'a Pain' — Praises Scarlett Johansson, forward, January 28, 2014.
  122. ↑ "SodaStream Criticized For illegally occupied West Bank Plant". National Public Radio. 4 February 2013. 
  123. ↑ "Palestinian groups call for SodaStream boycott". Foreign Policy Magazine. 31 January 2013. 
  124. ↑ Browning, Noah (2014-01-29). "Israeli settlement factory sparks Super Bowl-sized controversy". Reuters. Retrieved 03/02/2014. 
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