Coca-Cola

Coca-Cola operates under an asset-light, divided structure

The "company" manages the brand itself, as well as its secret formula and syrup production. The capital-intensive "system" of independent bottlers, on the other hand, handles manufacturing and distribution.

Coca-Cola made up roughly 19.2% of US carbonated soft drink market share as of 2023

Separately, Diet Coke made up about 7.8% of US market share that year. Pepsi was responsible for 8.3% of market share, as was Dr. Pepper.

The drink that became Coca-Cola was originally called 'Pemberton's French Wine Coca.'

Coca-Cola was created during a patent medicine boom

A "patent medicine" is a proprietary medicine that is ostensibly created and marketed under a patent, and, crucially, is available without prescription.

John Pemberton only sold roughly 25 gallons of Coca-Cola syrup in its first year

That equates to roughly 9 drinks per day. But once he brought it to pharmacies that hooked the syrup up to their soda fountains, sales increased significantly, with roughly 2,000 gallons being sold two years later. This video about Coca-Cola's early history is narrated by actress Jenny Slate for a Comedy Central series called "Drunk History," so not all of it is intended to be entirely factually accurate.

Coca-Cola claims that only two people in the world know the full Coca-Cola formula

They are supposedly two Coca-Cola executives. Over the years, a number of handwritten formulas have surfaced to the public, but Coca-Cola has ruled all of them as inauthentic.

'This American Life' once tried to recreate the original recipe for Coca-Cola

Given that the Coca-Cola formula is one of the company's most closely-guarded secrets, the radio show's team was surprised to come across a 1979 newspaper article with what looked like the original recipe for Coke.

Visualize how Coca-Cola's secret formula has changed over time

Coca-Cola contained small amounts of cocaine until the early 1900s—but that's not the only time Coca-Cola has altered its recipe over the years. For instance, Coca-Cola transitioned from cane sugar to high-fructose corn syrup in the 1980s.

Coca-Cola began developing Diet Coke to compete with a diet cola called Tab

Launched in 1963, Tab was successful in part because of its diet-conscious branding, with the name "tab" referring to the idea of "keeping a tab on your weight." Diet Coke made its debut in 1982.

The Coca-Cola Company also owns Sprite, Smartwater, and many more brands

The parent company owns lots of beverage brands, from sodas to water, including Dasani, Minute Maid, Topo-Chico, and more. You can see all of the roughly 200 brands it owns on its website.