Coca-Cola, or Coke, is a cola soft drink manufactured by the Coca-Cola Company. In 2013, Coke products were sold in over 200 countries and territories worldwide, with consumers drinking more than 1.8 billion company beverage servings each day. Coca-Cola ranked No. 94 in the 2024 Fortune 500 list of the largest United States corporations by revenue. Based on Interbrand's "best global brand" study of 2023, Coca-Cola was the world's sixth most valuable brand.
Originally marketed as a temperance drink and intended as a patent medicine, Coca-Cola was invented in the late 19th century by John Stith Pemberton in Atlanta. In 1888, Pemberton sold the ownership rights to Asa Griggs Candler, a businessman, whose marketing tactics led Coca-Cola to its dominance of the global soft-drink market throughout the 20th and 21st centuries. The name refers to two of its original ingredients: coca leaves and kola nuts (a source of caffeine). The formula of Coca-Cola remains a trade secret; however, a variety of reported recipes and experimental recreations have been published. The secrecy around the formula has been used by Coca-Cola as a marketing aid because only a handful of anonymous employees know the formula. The drink has inspired imitators and created a whole classification of soft drink: colas.
The Coca-Cola Company produces concentrate, which is then sold to licensed Coca-Cola bottlers throughout the world. The bottlers, who hold exclusive territory contracts with the company, produce the finished product in cans and bottles from the concentrate, in combination with filtered water and sweeteners. A typical 12 fl oz (355 mL) can contains 38 grams (1.3 oz) of sugar (usually in the form of high-fructose corn syrup in North America). The bottlers then sell, distribute, and merchandise Coca-Cola to retail stores, restaurants, and vending machines throughout the world. The Coca-Cola Company also sells concentrate for soda fountains of major restaurants and foodservice distributors.
The Coca-Cola Company has, on occasion, introduced other cola drinks under the Coke name. The most common of these is Diet Coke, along with others including Caffeine-Free Coca-Cola, Diet Coke Caffeine-Free, Coca-Cola Zero Sugar, Coca-Cola Cherry, Coca-Cola Vanilla, and special versions with lemon, lime, and coffee. Coca-Cola was called Coca-Cola Classic from July 1985 to 2009, to distinguish it from "New Coke".
Confederate Colonel John Pemberton, wounded in the American Civil War and addicted to morphine, also had a medical degree and began a quest to find a substitute for the problematic drug. In 1885 at Pemberton's Eagle Drug and Chemical House, his drugstore in Columbus, Georgia, he registered Pemberton's French Wine Coca nerve tonic. Pemberton's tonic may have been inspired by the formidable success of Vin Mariani, a French-Corsican coca wine, but his recipe additionally included the African kola nut, the beverage's source of caffeine. A Spanish drink called "Kola Coca" was presented at a contest in Philadelphia in 1885, a year before the official birth of Coca-Cola. The rights for this Spanish drink were bought by Coca-Cola in 1953.
In 1886, when Atlanta and Fulton County passed prohibition legislation, Pemberton responded by developing Coca-Cola, a non-alcoholic version of Pemberton's French Wine Coca. It was marketed as "Coca-Cola: The temperance drink", which appealed to many people as the temperance movement enjoyed wide support during this time. The first sales were at Jacob's Pharmacy in Atlanta, Georgia, on May 8, 1886, where it initially sold for five cents a glass. Drugstore soda fountains were popular in the United States at the time due to the belief that carbonated water was good for the health, and Pemberton's new drink was marketed and sold as a patent medicine, Pemberton claiming it a cure for many diseases, including morphine addiction, indigestion, nerve disorders, headaches, and impotence. Pemberton ran the first advertisement for the beverage on May 29 of the same year in the Atlanta Journal.
Meanwhile, Asa Candler, an Atlanta pharmacist, opened syrup factories throughout the country: Dallas (1894), Chicago and Los Angeles (1895), Philadelphia (1897), and New York (1899).
By 1888, three versions of Coca-Cola – sold by three separate businesses – were on the market. A co-partnership had been formed on January 14, 1888, between Pemberton and four Atlanta businessmen: J.C. Mayfield, A.O. Murphey, C.O. Mullahy, and E.H. Bloodworth. Not codified by any signed document, a verbal statement given by Candler years later asserted under testimony that he had acquired a stake in Pemberton's company as early as 1887. John Pemberton declared that the name "Coca-Cola" belonged to his son, Charley, but the other two manufacturers could continue to use the formula.
Charley Pemberton's record of control over the "Coca-Cola" name was the underlying factor that allowed for him to participate as a major shareholder in the March 1888 Coca-Cola Company incorporation filing made in his father's place. Charley's exclusive control over the "Coca-Cola" name became a continual thorn in Asa Candler's side. Candler's oldest son, Charles Howard Candler, authored a book in 1950 published by Emory University. In this definitive biography about his father, Candler specifically states: "on April 14, 1888, the young druggist Asa Griggs Candler purchased a one-third interest in the formula of an almost completely unknown proprietary elixir known as Coca-Cola." The deal was actually between John Pemberton's son Charley and Walker, Candler & Co. – with John Pemberton acting as cosigner for his son. For $50 down and $500 in 30 days, Walker, Candler & Co. obtained all of the one-third interest in the Coca-Cola Company that Charley held, all while Charley still held on to the name. After the April 14 deal, on April 17, 1888, one-half of the Walker/Dozier interest shares were acquired by Candler for an additional $750.
After Candler had gained a better foothold on Coca-Cola in April 1888, he nevertheless was forced to sell the beverage he produced with the recipe he had under the names "Yum Yum" and "Koke". This was while Charley Pemberton was selling the elixir, although a cruder mixture, under the name "Coca-Cola", all with his father's blessing. After both names failed to catch on for Candler, by the middle of 1888, the Atlanta pharmacist was quite anxious to establish a firmer legal claim to Coca-Cola, and hoped he could force his two competitors, Walker and Dozier, completely out of the business, as well.
John Pemberton died of stomach cancer on August 16, 1888. Asa Candler then decided to move swiftly forward to attain full control of the entire Coca-Cola operation.
Charley Pemberton, an alcoholic and opium addict, unnerved Asa Candler more than anyone else. Candler is said to have quickly maneuvered to purchase the exclusive rights to the name "Coca-Cola" from Pemberton's son Charley immediately after he learned of Pemberton's death. One of several stories states that Candler approached Charley's mother at John Pemberton's funeral and offered her $300 in cash for the rights to the name.
In Charles Howard Candler's 1950 book about his father, he stated: "On August 30 , he [Asa Candler] became the sole proprietor of Coca-Cola, a fact which was stated on letterheads, invoice blanks and advertising copy."
With this action on August 30, 1888, Candler's sole control became technically all true. Candler had negotiated with Margaret Dozier and her brother Woolfolk Walker a full payment amounting to $1,000, which all agreed Candler could pay off with a series of notes over a specified time span. By May 1, 1889, Candler was claiming full ownership of the Coca-Cola beverage, with a total investment outlay by Candler for the drink enterprise over the years amounting to $2,300.
In 1914, Margaret Dozier, as co-owner of the original Coca-Cola Company in 1888, came forward to claim that her signature on the 1888 Coca-Cola Company bill of sale had been forged. Subsequent analysis of other similar transfer documents had also indicated John Pemberton's signature had most likely been forged as well, which some accounts claim was precipitated by his son Charley.