Shark Tank Season 14's nineteenth episode aired on April 7, 2023. It featured the entrepreneur couple Ehime Eigbe and Michael Akindele with their frozen yogurt brand Sweetkiwi. Two Sharks, Robert Herjavec and Kevin O'Leary, were initially interested in the investment. Robert offered the couple the final deal, which they agreed to.
While finalizing the deal, Robert told the entrepreneurs,
"I don't have a lot of investment in this space, but I love this space, and I want to learn. There are no two better people that I'm going to put my money into than the two of you."
Robert Herjavec's counter offer was $250,000 for a 16% equity stake in the Sweetkiwi. Since then, the brand has grown significantly and spread across 2000 retail stores. As of 2024, Sweetkiwi is generating a $2 million annual revenue.
Sweetkiwi Shark Tank update: What happened to the frozen yogurt brand?
Sweetkiwi at Shark Tank
Shark Tank Season 14 featured Sweetkiwi, a low-calorie and high-protein frozen yogurt brand. As the entrepreneurs Ehime Eigbem and Michael Akindele pitched, their frozen yogurt is made from organic ingredients. They also source milk from trusted local farmers.
The Sharks also enjoyed the taste and gave the couple positive feedback. However, they expressed concerns about Sweetkiwi becoming a $5 million company.
The product's retail price ranges from $5 to $7, which varies according to location and flavor. As for the production cost, each unit costs around $2.
However, after their appearance on the reality show, the couple managed to land a deal with one of the Sharks, Robert Herjavec. The asked pitch was for $250,000 for 5% equity for their company valued at $2.4 million, which, at first, Shark Kevin O'Leary offered for 20% equity.
Sharks, including Lori Greiner, Daymond John, and Mark Cuban, were out, but Robert Herjavec was there. Later, when Kevin O'Leary's offer did not go through, Robert offered the same deal with 16% equity.
Before closing the deal, Eigbe told the cameras,
"We just keep at it. We just keep pushing no matter what. And that was what you can see on 'Shark Tank' as well. It didn't matter what Mr. Wonderful had to say. We're going to keep pushing and keep trying to close a deal."
Later, when the couple closed the deal with Robert, she shared,
"I hope that Robert and I, and the team, can build a billion-dollar company."
Sweetkiwi after Shark Tank
After landing a deal from one of the Sharks, the frozen yogurt brand Sweetkiwi achieved impressive results after almost doubling its retail presence in various regions. At first, the Sweetkiwi products were only available at Walmart and Whole Foods; they are now available at Mom's Organic Market, Ralphs, Kroger, Giant stores, and more.
In 2023, Sweetkiwi's annual sales were around $1.1 million, which reached $2 million by mid-2024. Since associating with Robert Herjavec, the brand has seen significant improvement after implementing a refined marketing strategy and expanding the frozen yogurt brand across the nation.
Sweetkiwi's official website describes their achievements for the year 2024 as,
"Sweetkiwi launches frozen yogurt bars in partnership with The Smurfs, offering fun, nutritious treats with Smurf-themed flavors and packaging for the whole family. This collaboration enhances our brand visibility and aligns with our mission of healthy indulgence."
Sweetkiwi offers Yogurt Pints and yogurt Bars and has added many new flavors to its frozen yogurt.
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Shark Tank fans can enjoy the latest season of the reality show on ABC.
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