Avocaderia Update | Shark Tank Season 9

Avocaderia, a food-themed company, was featured on Shark Tank during Season 9. Company representative, Alessandro Biggi, came onto Shark Tank to pitch his company’s concept to see if the sharks would be interested in a food diet directly connected to avocados. Let’s see if the sharks are interested in potentially investing $300,000 in exchange for 10% equity. Once we cover the negotiations, we will also quickly cover the Avocaderia update as well.

Shark Tank Avocaderia Update

Avocaderia Update

  • Entrepreneurs: Alessandro Biggi
  • Business: Avocado Foods
  • Ask: $300,000 for 10% equity
  • Result: $400,000 for 20% equity
  • Sharks: Barbara Corcoran and Mark Cuban

Avocaderia had only been in business for about five months when appearing on Shark Tank and had generated more than $75,000 in gross revenue during the previous thirty days. Alessandro told the sharks that every avocado-based food item on his menu costs between $6 and $14.

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Alessandro also told the sharks that he would use the $300,000 he was asking for to open another Avocaderia location as an independent restaurant. His current location was located within a food hall and cost him about $70,000 to open and launch. His ultimate vision was to open about 20 new locations in the next five years and try to reach $4 million in revenue annually.

The sharks were concerned about the company’s valuation, but some of them were still interested in learning more. Lori Greiner decided to drop out first because she wasn’t interested. Robert Herjavec also dropped out because he couldn’t support the valuation.

Barbara Corcoran and Mark Cuban decided to team up and make an offer of $400,000 in exchange for 20% equity. Alessandro took a few moments to think about his options before he accepted the offer.

Let’s get a current day Avocaderia update to see how the company is doing. The deal with Mark and Barbara was finalized and the company is now planning to launch more locations within the New York region in the near future. New menu items are also being developed and will hopefully be launched officially within the next few months.

With two sharks on the team, we are pretty confident that our next Avocaderia update will be a success!

You can find the other company updates from Season 9 Episode 22 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.