The edible gift market is stagnant, and Shahira Marei wanted to change that. She thought of edible cookie shot glasses, perfect for milk, ice cream, sweet liquor, and any other beverage you can think of! These soft cookies pair well with so many beverages, and they make perfect gifts! Will the sharks eat this deal up during
Shark Tank Dirty Cookie Update
- Entrepreneur: Shahira Marei
- Business: Cookie shot glasses for all beverages
- Ask: $500,000 for 5% equity
- Result: $500,000 for 25% equity, converts to 15% equity if goal of $6 million in revenue is achieved
- Shark: Robert Herjavec
Dirty Cookie shot glasses are made of soft, chewy cookies and compatible with most beverages. On the website, Shahira sells customizable bundles with DIY holiday and event kits. After three years with little to no success, Shahira pivoted to direct-to-consumer sales. In 2021, Dirty Cookie has $2.6 million in sales this way. Unfortunately, each shot glass was handmade. This limited stock and drove up production costs.
While the sharks seemed to like the cookies, there were issues with the business. Mark Cuban was the first to weigh in. First, the business model was lacking. Second, this product competes on a huge market against other gifts and edible products. For those reasons, he went out. Kevin O’Leary is next. He hated the business model, and also thought the cost of goods was too high.
Likewise, Daymond John didn’t see enough profit and the business model was dangerous. As a result, he went out. Robert Herjavec left in the same fashion. He stated that Shahira was great, but there were flaws in the business.
Lori Greiner, on the other hand, loved the concept. Despite all of the problems with the business, she offered $250,000 as a loan with 8% interest and $250,000 for 25% equity. Shahira tried to counter but Robert ultimately interrupted.
Because he believe in her, Robert came back in for an offer of $500,000 for 30% equity. However, he said that if they hit their projected goal of $6 million in 2023, his equity share would drop to 15%. In response, Lori changed the terms of the equity portion of her offer to match.
Shahira asked Robert if he would go down to 25% initial equity, which he accepted. They made a deal based on these unusual terms, but how is the company doing after the show? We’ll talk about that next in our Dirty Cookie update.
Our Dirty Cookie update research revealed that it has been featured on Food Network, Good Morning America, Today, and even Forbes! With coverage like that (and sales like she reported), Shahira is off to a great start. There are so many kits and options available on the Dirty Cookie website, too. We’re sure she’ll come out on top when the cookie crumbles!
Have you seen our other company updates for Season 13 Episode 19? Get caught up here:
Before you go, make sure to take a look at our other Season 13 company updates on our Season 13 products page.