CocoTaps Update | Shark Tank Season 9

CocoTaps was a company featured on Shark Tank Season 9. Freshly produced coconut water is this company’s specialty because its product allows users to easily open coconuts. Vincent Zaldivar is representing the company and hopes to convince the sharks to invest $150,000 in exchange for 10% equity in his company. Let’s see if the sharks were interested before we take a look at the Shark Tank CocoTaps update.

Shark Tank CocoTaps Update

Coco Taps Update

  • Entrepreneurs: Vincent Zaldivar
  • Business: Coconut Opener
  • Ask: $150,000 for 10% equity
  • Result: No deal
  • Sharks: None

CocoTaps had been in business a little more than a year when it was featured on Shark Tank and Vincent proudly admitted that his company had more than $250,000 in gross revenue sales. The company’s current projections suggest that doubling those sales and reaching $500,000 in gross revenue during the current calendar year is very possible.

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CocoTaps also has a separate coconut beverage line that sells to resorts in Las Vegas. About 80% of the company’s sales are generated from these pre-made beverages while the other 20% is made from the coconut opener. Mark Cuban was frustrated with the different visions that Vincent had for his company and decided to drop out. Robert Herjavec quickly dropped out as well along with Barbara Corcoran.

The final sharks considered making an offer but ultimately decided to pass on the opportunity. Vincent was forced to leave Shark Tank without making a deal, but let’s take a chance to learn about whether CocoTaps overcame its missed opportunity on Shark Tank.

Our CocoTaps update is interesting because the company faced a lot of challenges during the COVID-19 pandemic when the Las Vegas resorts had to temporarily close to deal with the effects of the virus. The company is nearing the $10 million threshold in lifetime sales during the 2022 calendar year and has the opportunity to boost its sales in the near future as the pandemic comes to an end.

You can order one through Amazon or the official website. We can’t wait to see where our next CocoTaps update takes us!

You can find the other company updates from Season 9 Episode 12 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.