Just Goods

Glens Falls, NY Consumer Private

Just Water (operated by JUST Goods, Inc.) is a sustainable bottled water brand co-founded in 2012 by Jaden Smith and Drew FitzGerald, with backing from Will and Jada Pinkett Smith. The company sells spring water sourced from Glens Falls, New York in paper-based cartons that are roughly 82-88% renewable materials (paper, plant-based plastic, sugarcane cap), positioned as a low-carbon alternative to PET plastic bottles. JUST Goods is a Certified B Corporation and pays the city of Glens Falls a premium ethical-trade rate for access to municipal spring water. The brand launched commercially in 2015 and has expanded into spring water, alkaline, and sparkling SKUs distributed across U.S. retail, the UK (Boots), Japan, Australia (IKEA), and the UAE.

Overview

Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Founded

2012

Employees

11–50

Latest Valuation

$0.1B

2019

Funding

Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Last updated 06-25-2026

Latest Round

Type

Growth round

Date

2019

Amount

Not disclosed

Valuation

$0.1B

Lead Investors

Not disclosed
DateRoundAmount RaisedValuationLead Investors
2019 Growth round Not disclosed $0.1B Not disclosed
2015 Seed / Angel (multiple closes) Not disclosed Will Smith, Jada Pinkett Smith

Leadership

  • Ira Laufer

    Chief Executive Officer

  • Jaden Smith

    Co-Founder

  • Drew FitzGerald

    Co-Founder & Creative Director

  • Grace Jeon

    Co-Founder (former CEO)

    LinkedIn

Competitors

Competitor list is illustrative and may be incomplete, stale, or erroneous.

  • Boxed Water Is Better

    Michigan-based sustainable bottled water brand founded in 2009 that sells purified water in paper-based cartons, the most direct boxed-water competitor to Just Water.

  • Path Water

    Reusable aluminum bottled water brand positioned as a plastic-free alternative in U.S. retail and foodservice.

  • Flow Beverage Corp

    Canadian alkaline spring water in Tetra Pak-style cartons; publicly traded competitor in the sustainable packaged-water category.

  • Liquid Death

    Aluminum-can mountain water and sparkling water brand competing in the sustainability-positioned premium water category.

  • Open Water

    Aluminum-bottle and can still and sparkling water brand marketed as plastic-free.

  • Mananalu

    Aluminum-bottle water brand co-founded by Jason Momoa focused on eliminating single-use plastic.

Just Goods Investment FAQ

Public status and buying access

No. Just Goods is a private company and does not have a public stock ticker or trade on a public stock exchange. Its shares are generally held by founders, employees, investors, and other private shareholders. Buyers and sellers may be able to transact in Just Goods shares through private secondary transactions, but any transaction depends on share availability, buyer and seller agreement, transfer restrictions, company approval rights, and any applicable right of first refusal. There is no guarantee that Just Goods will complete an IPO or other liquidity event.

Yes, it is sometimes possible to buy Just Goods shares pre-IPO through private secondary transactions. This depends on finding a willing seller, company approval, and satisfying any transfer restrictions or rights of first refusal.

Buyers interested in buying Just Goods shares on the secondary market typically do so through SetterVC and other secondary-market platforms, subject to eligibility requirements, share availability, transfer restrictions, and issuer approval. Buyers may need to satisfy sophistication, accreditation, institutional, platform, regulatory, or other eligibility requirements before participating. Once eligible, buyers may be able to view listings, make bids, and work with a licensed broker through the transaction process. Buyers should ensure they have appropriate legal and financial advisors guiding them before completing any transaction.

The company's latest round valuation was approximately $100M as of 2019. The latest round valuation is often used as one reference point in secondary-market pricing, but secondary prices may be above or below that valuation at any given time. Secondary pricing can shift significantly based on post-round conditions, such as changes in company performance, supply-demand dynamics, share class, transaction size, transfer restrictions, or broader market shifts. Any implied valuation from a past round should be confirmed with a broker or through live market listings before relying on it.

Valuation and funding

Just Goods was most recently valued at approximately $100M as of 2019. This is a private valuation and may differ from secondary pricing. Secondary shares may trade above or below this mark based on various factors. SetterVC and Setter Capital does not verify the accuracy of these valuations. Buyers and sellers should always confirm current valuations before completing any transaction.

SetterVC currently shows one valuation mark for Just Goods based on funding rounds, tender offers, secondary-market indications, and other reported or collected valuation marks. Just Goods's valuation was approximately $100M as of 2019. Secondary-market prices may differ from this valuation based on share class, transaction size, transfer restrictions, supply and demand, company performance, and broader market conditions. SetterVC and Setter Capital does not verify the accuracy or completeness of valuation data, and buyers and sellers should confirm current information before relying on it.

Just Goods's latest disclosed funding round was a Growth round round in 2019. The round raised approximately Not disclosed at an approximately $100M valuation. Primary funding rounds are different from secondary transactions: in a primary round, capital goes to the company, while in a secondary transaction, investors buy existing shares from current shareholders. Funding-round data reflects publicly reported or collected information and may be incomplete. The latest round valuation should be confirmed before it is used as a pricing reference.

Just Goods's disclosed investors include Will Smith and Jada Pinkett Smith. Investor lists are based on public reporting, company announcements, and collected funding-round data, and may be incomplete. Participation in a prior funding round does not mean those investors are currently buying or selling shares. On SetterVC, eligible users can review Just Goods's funding history, valuation history, and private-market activity alongside other venture-backed companies.

Market context

Just Goods's most-cited competitors include Boxed Water Is Better, Path Water, Flow Beverage Corp, Liquid Death, Open Water and Mananalu. Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.

Secondary-market demand for Just Goods shares can be affected by company performance, revenue growth, profitability, funding history, valuation, investor interest, sector momentum, public-market conditions, expected timing of a liquidity event, and the availability of shares for sale. Demand can also be affected by transfer restrictions, company approval rights, right of first refusal processes, limited information, and the price expectations of buyers and sellers. Strong demand does not guarantee strong pricing, liquidity, or investment returns. Weak demand does not necessarily reflect the company's long-term prospects. Demand signals should not be treated as a recommendation or prediction of investment performance. Buyers and sellers should treat demand signals as informational and conduct their own diligence before transacting.

Selling and transaction mechanics

Sellers often rely on intermediaries and platforms, such as SetterVC and other secondary-market platforms, to identify potential buyers. The exact process varies by company and transaction, but sellers often begin by confirming their ownership, desired price, transferability, and any company approval or notice requirements. If the seller agrees with a buyer on acceptable price and terms, the company may need to be notified through a share transfer notice or similar process. If a right of first refusal, company approval right, or other transfer restriction applies, the seller may need to wait until that process is completed. The parties may then execute a purchase and sale agreement, complete required transfer documentation, and close if all required conditions are satisfied. Sellers should always seek proper legal and financial advice before completing the transaction.

Yes, current and former Just Goods employees, early investors, and other existing shareholders may be able to sell vested shares before an IPO through a private secondary sale. This is not automatic; it depends on whether the shareholder has transferable shares, whether there is buyer demand, and whether the company's governing documents permit the transfer. Many companies require prior notice, company approval, or a right of first refusal before shares can be sold. Sellers should also seek proper legal and financial advice before proceeding.

A Just Goods secondary transaction usually involves an existing shareholder selling shares to a buyer before a public listing. The buyer and seller typically agree on price, number of shares, share class, and closing conditions. The seller may then need to notify Just Goods through a share transfer notice or similar process. If Just Goods or existing investors have approval rights, transfer restrictions, or a right of first refusal, those steps may need to be completed before the transfer can close. The parties typically enter into a purchase and sale agreement, complete any required transfer documentation, and close only if the necessary conditions are satisfied. Timing and certainty can vary by company and transaction.

In most private secondary transactions, parties commonly use a purchase and sale agreement that outlines price, terms, and conditions. They may also use share transfer documentation, often a stock transfer notice, share transfer notice, transfer instruction, or similar document, along with any required company approval or right of first refusal materials. Proof of ownership, such as a cap table entry, share certificate, brokerage statement, issuer confirmation, or administrator confirmation, may also be important. Buyers often request recent company financials, but private companies may limit disclosure. Since every deal varies, buyers and sellers should consult legal and financial advisors to understand which documents are needed.

Risk, diligence, and investor caution

Buying Just Goods shares pre-IPO is risky. Shares are illiquid, no IPO or liquidity event is guaranteed, valuations can change, transfers may require company approval, and private companies may provide limited financial disclosure. Be prepared for total loss. SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, verify information, and seek independent legal and investment advice before proceeding.

Private secondary shares are typically illiquid. Unlike public stocks, there is no active public market, so selling them can be difficult and time-consuming. Sales depend on finding a willing buyer and often require company approval. Investors should be prepared to hold the shares for an extended period, with no guarantee of a future sale. Always assess your need for liquidity before investing.

SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, including verifying ownership, transferability, legal structure, company approval, and assessing the company's prospects. SetterVC and Setter Capital do not provide advice on whether an investment is good, what price to pay, or what the best bid or ask is. SetterVC and Setter Capital may share documents in some circumstances, but it does not guarantee their accuracy or completeness. Due diligence is essential. Seek legal and investment advice as needed.

Before buying Just Goods shares, a buyer should try to review the share class, price per share, implied valuation, transfer restrictions, ROFR process, company approval rights, seller ownership evidence, recent financing or tender-offer information, available financial information, information rights, resale restrictions, tax considerations, and expected liquidity paths. Not all information may be available for a private company. Buyers should confirm available diligence, process details, and information needs with their own legal, tax, and investment advisers.

SPVs carry risks. Examples include the need to confirm the company allows SPV-based transfers, verify that the SPV truly owns the shares or interests it claims to own, and ensure it has not sold more interests than it holds. Due diligence is essential. Seek legal and investment advice as needed.

Forward contracts carry risks. Examples include the seller refusing to transfer the shares at the future date, even if the seller owns them, the seller going bankrupt with creditors claiming the shares, or the seller committing the same shares to multiple parties. Due diligence is essential. Seek legal and investment advice as needed.

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