Pabst Blue Ribbon is:
a) a blue-collar favorite decades past its heyday; or
b) the hippest, hottest beer around.
If you were born much before 1980 you probably missed this one. In recent years, Pabst Blue Ribbon, known with affection as PBR, has become the quaff of choice among young urbanites. Capitalizing on an ironic sort of downscale cachet, Pabst Blue Ribbon has seen sales rise nearly 30% this year far outstripping the industry’s 1% increase.
Bedecked with its hip, non-conformist badge, it’s only fitting that Pabst is the target of a very modern and unconventional Twitter-based investment scheme.
BuyaBeerCompany.com is using the principles of crowdsourcing to raise funds to purchase the 165 year old beer company. The phrase crowdsourcing was coined in the June 2006 issue of Wired Magazine to describe a new form of corporate outsourcing utilizing largely amateur pools of volunteer contributors. In this case, BuyaBeerCompany.com is hoping to pool enough online pledges to reach the $300 million asking price for the Pabst Brewing Company.
Two advertising agencies have joined forces to solicit the largest-ever crowdsourced audience. Pledges are accepted in increments beginning at $5.00 (referred to as a “bottle membership”) up to $250,000 (the “BrewMeister”). If the $300 million goal is achieved and a takeover is successful, each cyber-mogul will receive a certificate of ownership and a quantity of PBR commensurate with the pledge level.
To make a pledge (21 and over only) or to track the venture’s progress on their online countdown ticker ($195,831,450 to go as of press time), you can visit the BuyaBeer website or follow it on Twitter @BuyaBeer.com.
For more crowdsourcing, see Food 52: An Exercise in Culinary Crowdsourcing.