Energy Drink Investors Accuse Outdoor Voices Founder of Fraud
Ty Haney, founder of Outdoor Voices, is being accused of defrauding investors in her energy drink brand, Joggy.
According to the lawsuit, Haney allegedly promised equity investments in Joggy in exchange for $3 million in cash to fulfill a Target order, but then reneged on her promise.
- Haney launched Outdoor Voices in 2013, which raised $57 million and was valued at $110 million in 2018.
- The company imploded in 2020, forcing Haney out and closing all 16 stores.
- A venture capital firm bought Outdoor Voices last year and brought Haney back.
- Haney has also launched other companies, including Try Your Best and Joggy energy drinks.
Ty Haney allegedly promised equity investments in Joggy in exchange for cash to fulfill a Target order, then reneged.
Joggy was valued at $8 million and had an 850-store deal with Target by late 2024, according to the lawsuit.
Author's summary: Ty Haney faces fraud allegations from energy drink investors.