The Bradham Drug Company in New Bern, N.C. sold the first Pepsi in 1893. Pharmacist Caleb Davis Bradham first called it "Brad's Drink." Bradham renamed the drink Pepsi-Cola in August of 1898, registering it with the U.S. Patent Office in 1903.
In the beginning, Bradham sold Pepsi syrup to other pharmacies that then served it at their soda fountains. However, he soon realized selling bottled Pepsi was a better choice. Bradham sold the first bottled Pepsi in 6-ounce bottles in 1905. He then started franchising his product; by 1910, there were 250 franchises in 24 states. However, Bradham made unwise business choices during World War I, and his company went bankrupt in 1923. Craven Bottling Company purchased the company's assets.