There’s nothing better than a delicious, smooth coconut smoothie. Alex Bayer created Genius Juice, a coconut smoothie that combines the whole coconut—everything but the shell. With three great flavors and an amazing taste, will these smoothies be enough to wow the sharks during the Season 11 pitch? Read our
Shark Tank Genius Juice Update
- Entrepreneur: Alex Bayer
- Business: Whole coconut smoothies
- Ask: $250,000 for 7% equity
- Result: $500,000 for 25% equity
- Shark: Mark Cuban and Barbara Corcoran
Genius Juice is doing something that no other beverage is, they’re incorporating the entire coconut into a smoothie, including the meat and the milk. It’s everything but the shell! Alex Bayer’s pitch includes a song, helped by three lovely backup singers, that perfectly explains his beverage idea.
And it’s more than just an idea. Bayer’s Genius Juice is in over 1,000 stores nationwide and did $367,000 in the year before filming. He works with a co-packer in Thailand to process the coconuts when they’re fresh, freeze them, and then send them to stores in the US.
All of the sharks agree that the drink is delicious, and the sharks like what they’re hearing, but guest shark Rohan Oza has a problem with the shelf life. He knows the beverage industry, and he knows that scaling will be difficult if the drink requires freezer space to sell.
He and Lori Greiner are the first to bow out of the deal. Lori says the beverage industry is too challenging, even though she loves the product itself.
Barbara Corcoran has similar feelings about beverage companies, but she says something about Genius Juice tempts her. She loves the taste, the low calories, and more. In the end, she goes against her previous experiences and offers $250,000 for 14% equity.
Mark Cuban was going to ask for more, so he bowed out upon hearing Barbara’s deal. Kevin O’Leary worries about the company’s funds going forward, as Alex admits that the company won’t break even anytime soon. Still, he offers a $250,000 loan over 36 months at 9% interest in exchange for 7% equity.
Alex doesn’t want the debt. Instead, he focuses on Barbara’s deal, countering to ask for 11% equity instead of her proposed 14%. Before she can agree, Mark interjects that he’d like to be back in, and would add $250,000 of his own money to her $250,000. However, he wants them to take 25% equity in the company. Barbara goes with this deal, and Alex accepts it. Did he hit the right spot for sales and growth? Find out in our
Genius Juice is a big hit! Even with the difficulties posed by a beverage company, they managed to expand to bigger retailers. After
Our Genius Juice update research revealed that they’ve added chocolate and vanilla protein shakes, as well as a vanilla cinnamon coconut smoothie. Reports indicate that Genius Juice is up to about $6 million in yearly revenue.
You can find the other company updates from Season 11 Episode 12 here:
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