'Shark Tank': Nutr founders vow to prove the Sharks wrong after failing to bag $500K deal
LOS ANGELES, CALIFORNIA: As a lot of people turn towards healthy and plant-based lifestyles, Nutr founders Alicia Long and Dane Turk were hoping to strike gold with their unique vegan mylk making machine. With just a single press of a button, you get your very own, freshly made plant-based mylk in the comfort of your home. While the product was a huge hit amongst the Sharks, unfortunately, the high valuation and low equity offering didn't sit well with them leading to Alicia and Dane leaving the tank with no offers.
Alicia and her husband Dane stepped into the tank seeking an investment of $500K for a 5% stake in their brand which they valued at $10M. Mark Cuban immediately backed out citing a conflict of interest with his earlier investment in Numilk. Lori Greiner on the other hand pointed out how like many other people she too loved splurging on gadgets that promise to make the coffee-drinking experience more elevated, but ultimately never got around to using them. So, she decided to sit out from making a deal as well. Kevin O'Leary and Daymond John loved the intention behind the product but were put off by the confusion around the brand's financials. Alicia initially claimed that their company was 100% bootstrapped and didn't have any debts. But when the Sharks began grilling her over the sales numbers and profit margins, the entrepreneurs revealed that they did receive some investment from angel investors.
After almost all the Sharks backed out, all eyes were on guest Shark Daniel Lubetzky. The KIND bar founder pointed out how he loved the product itself, but was unhappy with the low equity and high valuation of the brand. So, he decided to take a slightly different approach by asking the Nutr founders to make a revised offer with their best offerings. After some deliberation, Alicia and Dane decided to revise their offer to 500k for a 7.5% stake + 2% in advisory shares. Daniel politely declined the offer by declaring that the offer he was about to make would be pretty "disrespectful" to them and decided to sit out as well.
With no offers from any of the Sharks on the table, the Nutr founders left the tank empty-handed. Despite leaving with no offers, Alicia and Dane seemed more determined than ever to make their brand a huge success. During their green room interview, the duo vowed to prove the Sharks wrong and make Nutr a household name. Only time will tell if the Nutr founders manage to make the Sharks regret their decision to not invest in the unique brand.
'Shark Tank' Season 14 airs every Friday at 8/7c on ABC. Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.