CocoTaps was a company featured on
Shark Tank CocoTaps 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
Coconut Tool Kit that includes resealable patent pending taps so you can save your coconut water for later!
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
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