Abby Jordan and Becky App appeared on
Shark Tank eCreamery Update
- Entrepreneurs: Abby Jordan and Becky App
- Business: Custom ice cream flavors and gift-giving service
- Ask: $250,000 for 33% equity
- Result: No deal
- Shark: None
Initially, entrepreneurs Abby and Becky had enticed the shark’s with their delicious ice cream. The pitch began with a sample, and each shark received their own custom flavor ranging from Mr. Wonderful’s Shark Bait to the hot-and-cold Cubanero, dark chocolate, and habanero sorbet.
A collection of four delicious handcrafted gourmet ice cream flavors.
Flavors: Chocolate Turtle Sundae, Cherry Chocolate Chunk, Peanut Butter Cup & Butter Brickle. Four gourmet pints are packed in a small shipping box with special get well soon labels on each pint.
Abby and Becky shared that in the 5 years prior to filming, eCreamery had $2 million in sales. For 2012, the present year at the time of the pitch, eCreamery was projected to earn $750,000.
However, of these earnings, Abby and Becky were only taking a $60,000 profit. Kevin O’Leary was perplexed and asked about the margins.
They replied that the margins were not the culprit, and instead, the money was continually being reinvested to build infrastructure.
Robert Herjavec asked about the cost of the ice cream itself. Abby and Becky revealed that it cost a customer $55 for a 4-pint ice cream gift set, but it also included a $25 shipping cost to send it in 2 days in a reusable cooler with dry ice. This made the total cost $80 for 4 pints of ice cream.
Some sharks were turned off by this price, while others felt it was justifiable. After all, sending flowers as a gift carried a similar price tag.
Mark Cuban then asked about the customer acquisition cost, and Abby and Jordan said it was approximately $20 to acquire a new customer, who would then make approximately 2 purchases per year and earn 60% margins of profit on that purchase.
It all sounded good, but the sharks weren’t convinced. Further questioning revealed that Abby and Becky were not there as majority stakeholders, but that they had taken an investment from another venture capitalist who now owned 70% of the business!
Kevin O’Leary decided that he would make an offer of $125,000 for 25% of the business. Abby and Becky did not take it and, instead, waited to hear the other sharks. He eventually pulled his offer and went out.
Daymond John was the next to speak, and he went out citing that he did not want to work with another investor in the mix.
Robert went out next, stating that there was simply too much going on to complicate the situation. Barbara Corcoran said she wouldn’t expect to get her money back from the investment.
Mark foresaw too many issues and was the last shark out.
Without a deal being made during
We have a positive eCreamery update to share! eCreamery is still in business and the same 4-pint package from the pitch has decreased in price from $55 to $49.50 and the $25 shipping has dwindled to $14.99.
We don’t have any revenue numbers to share with our eCremery update, it appears that the brand has been growing every year since
You can make and ship your own ice cream, on the eCreamery website, but it’s also available on Amazon.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!