'Shark Tank': Mark Cuban and Lori Greiner take a risk with huge investment in potential winner
LOS ANGELES, CALIFORNIA: During the third episode of 'Shark Tank' Season 16, two renowned Sharks including Mark Cuban and Lori Greiner joined hands and invested $200,000 for a 30 percent stake in Kimberly Aguirre's donut brand called Doatnut.
When Kim first appeared on the ABC business show, she was seeking $100,000 for a 10 percent stake in her oat-based, gluten-free donut that goes by the name of Doatnut. Eventually, she secured a good deal from the two well-known Sharks which can work wonders for her business venture.
As of this moment, it remains unclear how Doatnut caught the eye of Mark and Lori as it's not the first time that a donut was pitched on 'Shark Tank.' Initially, Kim, the founder of Doatnut asked for a valuation of 10 times her revenue, and her potential route growth involves switching to direct-to-consumer sales, which would require climate-controlled shipping and could increase the cost of her donuts to $10 each. It seems like Mark and Lori's latest decision could turn out to be financially risky for them.
Mark Cuban and Lori Greiner team up for Kimberly Aguirre's Doatnut
In the most recent episode of the longtime-running ABC business program 'Shark Tank', esteemed Sharks Mark Cuban and Lori Greiner got together and invested a whopping $200k for 30 percent in Kimberly Aguirre's donut company Doatnut.
Speaking of Mark, he has invested his hard-earned money in more than 85 products that have been featured on the show. On the other hand, Lori has also invested in several brands that have contributed to her fortune.
Kimberly Aguirre's health journey led to the development of Doatnut
Doatnut founder Kimberly Aguirre's health journey catalyzed the development of the oat-based and gluten-free donut. Considering her health, Kim wanted to come up with a healthy alternative for donuts and she ended up creating Doatnut.
For the unversed, these donuts are crafted from organic oat groats and sweetened naturally with the help of monk fruit. So now, you can satisfy all your sweet cravings without any guilt. Kim was inspired to create this product after discovering that there were very few healthy and gluten-free options available in the market.
The organic oat groats that are used to make Doatnuts are sourced especially from Wyoming and then, milled into flour on the location itself for optimal freshness. These donuts are low in calories and carbohydrates, making them an ideal choice for people with specific dietary requirements.
'Shark Tank' Season 16 airs on Fridays on ABC at 8 PM ET. For those who miss the episode, it will be available on demand the following day and on Hulu. Additionally, viewers can explore past seasons and episodes on Amazon Prime Video and iTunes.