Why did Mark Cuban and Lori Greiner invest in Rebel Cheese? Brand with $15M valuation scores 2-Shark deal
LOS ANGELES, CALIFORNIA: Rebel Cheese is a culinary endeavor that made its debut on the 9th episode of the 15th season of 'Shark Tank.'
However, Sharks on the 'Shark Tank' couldn't help but wrap their head around the $15 million valuation that the founders Kirsten Maitland and Fred Zwar presented. Rebel Cheese, a firm trying to redefine the world's opinion of the vegan lifestyle through its gourmet products, is one of the enterprises put before the panel of affluent celebrity investors.
The firm sells a variety of handcrafted gourmet vegan cheeses and other culinary products both online and at its restaurant location.
The pair stepped into the 'Shark Tank' looking for $750,000 for 5%, making fans hope Rebel Cheese sells well given the company's $15 million in valuation!
With projected sales of $3.5 million for the year, the prospect appeared promising as Mark Cuban expressed interest in investing.
However, his offer came with a substantial ask – 10% ownership of the company. Lori Greiner also joined the investment offer, adding another layer to the negotiation.
In a series of negotiations, Fred attempted to counter the Sharks' offer, seeking to reduce their stake in the company. The turning point came when Kevin O'Leary ultimately convinced the couple to accept the Sharks' initial offer.
Who invented Rebel Cheese?
While the Rebel Cheese creators now proudly wear their vegan badges of pride, it wasn't always this way. Kirsten and Fred, a husband-and-wife team, have always had a strong interest in cuisine.
Kirsten, in particular, liked cheese and ate it at every meal until she came across Dr Michael Greger's book, 'How Not to Die.' She gave up cheese overnight after learning about the dangers of dairy products.
This inspired the duo to explore healthier alternatives to meet their requirements. Failing to find a satisfactory solution, they embarked on creating their own designs and collaborated with dairy specialists in the pursuit of a suitable answer.
This endeavor led to the development of their uniquely designed plant-based cheese alternative. Their cheeses, crafted with simplicity and health in mind, consist solely of cashews, water, salt, and cultures. Despite their straightforward ingredients, these cheeses maintain a creamy texture and are free from cholesterol.
This straightforward design has enabled the team to create a diverse spectrum of flavors, such as pepper jack, Parmesan, smoked cheddar, honey pistachio chèvre, and tomato herb fromage, to mention a few.
'Shark Tank's Rebel Cheese moved online after COVID-19
Few events have had the same influence on corporations as the COVID-19 epidemic. Rebel Cheese, which had barely been in operation for a year, was no exception.
Despite the difficulties, the team persevered and even made several significant advances during this trying period.
Rebel Cheese, like other businesses, has shifted to handling much of its operations online, with co-founder Kirsten trying to maintain an experience consistent with their restaurant service.
She and her husband also experimented with events such as virtual cheese sampling and added delivery and curbside pickup alternatives.
During this phase, the company underwent a relocation of its manufacturing facilities. Previously, the bulk of the team's inventory was stored in a modest 600-square-foot space within a shared commercial kitchen.
In response to the economic challenges posed by the epidemic, they actively sought inventive ways to conserve funds. Their efforts led them to a 1,000-square-foot property, resulting in significant monthly savings of up to $600.
While they had to provide the equipment and machinery, it was a worthwhile investment because the team could now keep 5,000 pounds of cheese and meet the increasing demand.
'Shark Tank's Rebel Cheese is a multi-award-winning company
Rebel Cheese has reached its stride in recent years, thanks to a tasty menu and a sincere desire to lessen our carbon footprint. Even though the firm is still in its early stages, it has already garnered high distinctions and had several once-in-a-lifetime opportunities.
Rebel Cheese's restaurant location received Best New Restaurant at CultureMap's Tastemaker Awards in 2020. The fact that Rebel Cheese was the first vegan restaurant to achieve this feat added to the significance of the victory.
In 2022, the Moody Center approached the team about creating a personalized charcuterie and cheese board to be placed in the vegan rapper Lizzo's dressing area for her then-upcoming Austin show.
The meticulously crafted dish, requiring seven hours of preparation, was intricately designed to resemble the artist herself.
It featured a delightful assortment, including Taki-coated Sour Cream and Onion Cheddar Cheese Balls, Ash Chèvre Wheels, Colby Jack, Smoked Cheddar, Kale, and edible flowers, among other elements.
'Shark Tank' Season 15 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.
