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On Shark Tank Season 15 Episode 18 Maurizio and Saphira Rasti were seeking $200k for a 5% equity in Nowhere Bakery. Their business' main goal was to make allergen-friendly dessert products easily accessible to other people. They produce brownies and cookies free from dairy, eggs, gluten, soy, refined sugar, and sugar alcohol. They are also paleo-friendly.
The founders shared that their predicted sales were an estimated $1 million in 2023. In 2021, they made $524,000 in sales, and later in 2022, they made sales of $770,000. Shark Tank investors Barbara and Kevin O'Leary both gave offers, however, the founders accepted Barbara's.
Barbara offered $100,000 as cash, and $100,000 as a line of credit for 12.5% equity. The Shark Tank investor mentioned that she could help them scale the brand as she knew business in this specific category. She elaborated that she had just the right resources to help them achieve more success to scale while establishing a unique brand identity. Corcoran said:
"I feel like I know everything about this space so I feel like I'm capable of helping you."
Shark Tank investor Barbara Corcoran placed an offer for Nowhere Bakery
Shark Tank investor, Barbara explained that the founders were not there to "leave their kitchen yet." She also disagreed with Kevin's suggestion of moving to a co-packer mentioning their business needed something else. O'Leary was also interested in partnering up with the founders, he shared that his main vision was to re-focus Nowhere Bakery "around the healthy concept." Mr. Wonderful said:
"I'm going to make you an offer but I'm going to put some contingencies on it okay because it is the only way I see it happening. I want to put it in major groceries around a brand, around the healthy concept."
He continued elaborating on how he could bring value to this company and develop it into a well-renowned brand. O'Leary offered $200,000 for 20% equity in the company. According to the Shark Tank investor, it was important for him to bring the co-packer, or else the company wouldn't sustain itself. He continued:
"Here's why I want the 20 % I'm going to bring the co-packer I have one in mind that I think you're going to like and I'm going to give him half of my equity so I'm going to end up with ten he's going to have ten and were going to blow this up because otherwise, I'm sorry I'm not intrested."
Cuban and Lori on the other hand decided to back out due to the high calory count in each biscuit. Cuban said that this product might not be for someone who is counting calories and is mindful about their consumption. He concluded:
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"Tastes amazing but now I look at the back now I need to be in the gym for 17 hours tonight. for a lot of people, it's not bad but for someone who counts calories, it is. so that's the problem I have and so for those reasons, I'm out."
All episodes of Shark Tank are available to stream on ABC.
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