Alice’s Table Update | Shark Tank Season 9

Alice Rossiter brought her company, Alice’s Table, onto Season 9 of Shark Tank with the hopes of raising $250,000 in exchange for 6.25% equity. This was a steep valuation and the sharks were immediately curious about whether the company had the right amount of sales to justify this type of valuation. Let’s see how the negotiations went before we give you a current Alice’s Table update.

Shark Tank Alice’s Table Update

Alice's Table Update

  • Entrepreneurs: Alice Rossiter
  • Business: Event Management Platform
  • Ask: $250,000 for 6.25% equity
  • Result:  $250,000 for 10% equity
  • Sharks:  Mark Cuban and Sara Blakelu

New business owners come to Alice’s Table to purchase a $699 kit of accessories that can help them get started with anything from flower arrangements to culinary and cocktail creations, and more. The cost for Alice and her company comes out to just over $500 per distributed kit, leaving her a margin of about $200 per kit sold. When a client purchases a single kit, Alice’s Table also takes a 30% commission on any event tickets that the client may sell in the future.

Alice had net revenue of about $180,000 under this unique business model that requires a large amount of marketing and finding the right people that are interested in taking classes and learning about unique activities like flower arrangement or other similarly themed activities.

Kevin O’Leary liked Alice’s business but he had major concerns with the valuation. For that reason, Kevin decided to offer $250,000 but he wanted a quarter of the business, which means 25% equity would have to be sold in order for the deal to go through. Daymond John couldn’t overcome the implied valuation and ultimately decided to go the opposite direction and not make an offer.

Mark Cuban and guest shark, Sara Blakely teamed up to make an offer of $250,000 for 10% equity. Alice decided to accept their offer after taking a short time to think about it. Let’s quickly get Alice’s Table update to see how the company has been doing since earning a deal on Shark Tank.

While the COVID-19 pandemic greatly hurt the short-term revenue for the company but a partnership with 1-800-FLOWERS seems to have helped shift momentum back in the right direction for Alice and her company. Today, the company is projected to generate more than $5 million in gross revenue sales and it still has a very active website.

You can find the other company updates from Season 9 Episode 17 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.