Freestyle Snacks Update | Shark Tank Season 17

Nikki Seaman got the idea for her business while working in the snack industry and dealing with olives that were always in heavy jars, soaked in bland liquid, and too messy to eat anywhere outside the kitchen. That hassle pushed her to create Freestyle Snacks, olives packed in small, clean pouches with bold flavors you can eat straight from the bag. Will the sharks think this is a smart move, too? Let’s find out in our Freestyle Snacks update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Freestyle Snacks after Shark Tank.

Nikki pitched her on-the-go snacking olives brand on Shark Tank Season 17, seeking $300,000 for 5% equity. After her pitch, she landed a deal with guest shark, Co-Founder of Poppi, Allison Ellsworth, for $300,000 for 11% equity.

In terms of a Freestyle Snacks update, the company received a big boost in sales after the episode aired and is continuing to work on increasing its retail presence.

Shark	Result
Allison Ellsworth	Accepted offer of $300,000 for 11% equity
Daymond John	No offer
Lori Greiner	No offer
Robert Herjavec	No offer
Kevin O’Leary	No offer

Shark Tank Freestyle Snacks Pitch

• Entrepreneur: Nikki Seaman
• Business: On-the-go snacking olives
• Ask: $300,000 for 5% equity
• Result: $300,000 for 11% equity
• Shark: Allison Ellsworth

Nikki went straight into the problem she wanted to solve. Olives are a popular snack, but most people still buy them in jars or cans that are messy, heavy, and hard to open.

She introduced Freestyle Snacks as the modern alternative. The olives are restaurant-quality, marinated in bold flavors, and packed in juice-free pouches.

Customers can eat them straight from the bag or add them to salads, cocktails, or charcuterie.

However, she said the real shift is in convenience. The pouches stay mess-free and shelf-stable, which makes them a better fit for on-the-go snacking.

That led the sharks to try the samples. Lori Greiner complimented the taste and packaging. Nikki explained that the olives are sourced from Greece and marinated with fresh ingredients.

Kevin O’Leary moved into logistics and asked about shelf life. Nikki said the larger pouches last 18 months and the smaller ones last 12 months without refrigeration.

Robert Herjavec then questioned the $6 million valuation and told her she must have strong sales. Nikki agreed. The first year produced $200,000. Year two jumped to $1 million. Year three grew to $2.2 million. And this year she expects $4 to $5 million.

The single-serve packs cost $0.32 to make and wholesale for $1.10, retailing at $1.99. The larger packs cost $1.35 to produce, wholesale for $3.15, and retail between $4.99 and $5.99.

Kevin asked if she was making money. Nikki said the company wasn’t profitable early on but will break even this year with an expected EBITDA of $55,000.

Meanwhile, Robert asked how she sells the product. Nikki said most of the business is wholesale. Freestyle Snacks is now in about 4,500 stores nationwide.

Whole Foods is the biggest partner, and the brand launched in 300 Target stores that same week. The remaining 30% of sales come from Amazon and TikTok.

Guest shark Allison Ellsworth asked about her background. Nikki said she grew up with very little but worked hard enough to earn a full ride to an Ivy League school.

She later worked as a consultant at Bain and then joined Wisps, where she learned the consumer-packaged-goods space and got the idea for Freestyle Snacks.

Kevin warned her that bigger competitors might knock her off when she scales. Nikki said the brand and quality give her an edge and that she believes Freestyle can reach $50 to $100 million.

Allison agreed that strong branding can still win, even with copycats.

Robert bowed out because he dislikes olives. Kevin passed next, saying the category is tough.

Lori liked the product but didn’t want to invest. Daymond John praised the business but said his offer would be too low and stepped out.

However, Allison made an offer at 15% equity. Nikki countered at 8%. Allison moved to 12%. Nikki asked for 10%. They finally settled at 11% equity for $300,000.

With a deal in hand, let’s get a Freestyle Snacks update to see how Nikki is doing today.

Shark Tank Freestyle Snacks Update

Our Freestyle Snacks update was unable to confirm if the deal with Allison closed. A lot of times, there is a long due diligence period after the pitch, and it can take time for things to publicly move forward.

However, what we do know is that Freestyle Snacks saw a big increase in sales after the episode aired.

And as a direct response, they rolled out a Shark Tank Bundle made up of five olive varieties with a 10% discount.

If you’re interested in any of their variety packs, you can get them on the Freestyle Snacks website.

While it’s still too early to report any major revenue results, we’ll share more progress reports in our next Freestyle Snacks update.

For more updates from Shark Tank Season 17 Episode 5, be sure to check the links below:

• The Qi Update
• Lila Birth Gowns Update
• Warrior Kid Medic Update

Before you go, be sure to check out our list of all the Shark Tank Season 17 products.