Expedition Subsahara Update | Shark Tank Season 14

Sofie Seck and her business Expedition Subsahara came onto Shark Tank seeking a deal for $500,000 in exchange for 10% equity. Let’s see if Sofi is capable of negotiating with the sharks to secure a deal. We will also be glad to provide you with an Expedition Subsahara update once we’ve covered the company’s pitch and final negotiations. 

Shark Tank Expedition Subsahara Update

Expedition Subsahara update

  • Entrepreneurs: Sofi Seck
  • Business: Decorative Baskets
  • Result: No deal
  • Sharks: None

An average-sized basket from Expedition Subsahara will likely cost about $18 to produce according to Sofi, while it could be sold for about three times as much around the $50 price point. Most of the company’s sales come online, and it’s generated $900,000 during the current calendar year.

The previous calendar year yielded about $1.6 million in gross sales, but Sofi only netted a profit of around $75,000. This is mostly due to the $160 customer acquisition cost.

At this point, Sofi admitted that the business operated with very little profit and basically broke even. Kevin O’Leary decided to drop out because of the significant amount of money that would be required. Lori Greiner also dropped out.

Mark Cuban didn’t see a pathway to make his money back, and neither did Robert Herjavec. Daymond John also decided to drop out without making an offer, which forced Sofi to leave Shark Tank without receiving a deal.

Even though Sofi wasn’t able to secure a deal, let’s jump ahead slightly and get an Expedition Subsahara update. 

Sofi seems to be determined to get her baskets into retail stores even without the help of a shark. A list of products that are trending from this company is available online on the company’s website.

While Sofi didn’t convince the sharks to invest, it wouldn’t be surprising to see other types of investors come forward to place a bet on Sofi and her business. Further, with the exposure from Shark Tank, she will likely be busy fulfilling orders from fans.

For more on Shark Tank Season 14 Episode 4, be sure to check out:

Don’t forget to have a look at our Season 14 products page too!