Bananas are best when paired with peanut butter or chocolate spreads, but the sweet snack is difficult to prepare. Entrepreneurs Renee Heath and Bechara Jaouden found a solution to this problem with the Banana Loca. Did the sharks eat up their sweet pitch on
If you’re short on time, here’s a quick overview of what happened to Banana Loca after
Renee Heath and Bechara Jaouden appeared on
|Mark Cuban and Kevin O’Leary
|Accepted deal of $250,000 for 25% equity and a $3/unit royalty until the investment is paid back
|$250,000 and 10% equity, plus a $3 royalty per unit until $350,000 is paid back
Shark Tank Banana Loca Update
- Entrepreneurs: Renee Heath and Bechara Jaouden
- Business: Banana coring and filling tool
- Ask: $250,000 for 25% equity
- Result: $250,000 for 25% equity and a $3/unit royalty until the investment is paid back
- Shark: Mark Cuban and Kevin O’Leary
Banana Loca is a simple, mess-free kitchen tool created by friends Renee Heath and Bechara Jaouden that ‘cores’ and fills bananas in a two-step process. After coring the banana, use the spread pump to get your favorite filling into the center of the banana, cucumber, zucchini, or even donut.
Banana Loca is an innovative kitchen gadget that straightens a banana, and cores it while still in the peel!
The sharks love the delicious chocolate-filled snack but want to know the numbers.
Renee and Bechara revealed that they hadn’t done much marketing, but their sales over the last five months were about $134,000. Each Banana Loca cost $6 to make and retails for $26.99.
The high retail price surprises the sharks, especially for a relatively simple device. They are, however, impressed with the overall sales.
Meanwhile, Renee and Bechara assure the sharks that the investment will go into inventory and marketing.
Mr. Wonderful (Kevin O’Leary) is the first to make an offer. He offers them $250,000 for a $3 royalty per Banana Loca sold in perpetuity. He doesn’t want any equity.
After Kevin’s offer, Daymond John goes out because he thinks it’s a one-use item that will sit in the cabinets most of the time. It’s not for him.
It’s not right for Lori Greiner, either. She thinks it’s too early to invest and drops out.
Next is Robert Herjavec, who offers $250,000 and 10% equity on top of a $3 royalty per unit until $350,000 is recouped.
Before Renee and Bechara can react, Mark Cuban has an idea. He wants to work with Kevin, so he offers a deal that benefits them both.
Mark and Kevin join forces to offer $250,000 for 25% equity plus a $3 per unit royalty until the initial investment is repaid.
The entrepreneurs attempt to lower the royalty, but Mark and Kevin stick to their guns. In the end, Renee and Bechara accept the deal.
So, did Mark and Kevin end up with a sweet deal? Here’s a quick Banana Loca update.
It seems that
Even better, Amazon shows more than 400 units purchased per month. There are also more than 1,000 customer reviews, although with mixed opinions on the product.
Renee and Bechara have also been fortunate enough to go viral on TikTok multiple times, which has likely led to a lot of sales.
You can learn more about the product from the Banana Loca website. One unit sells for $28.99, or you can get two for a discounted $55 with shipping included.
It’s unclear whether they closed the deal with Mark and Kevin, but appearing on
With such an ingenious product, we’re sure the next Banana Loca update will be a positive one, with or without the help of the two sharks.
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Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!