Little Saints Update | Shark Tank Season 16

Megan Klein struggled with a terrible feeling after drinking alcohol but didn’t want to give up the fun of cocktails and socializing. To address her situation, she created Little Saints, non-alcoholic cocktails infused with functional mushrooms that mimic the experience of traditional drinks without the negative effects. These sugar-free, low-calorie beverages offer a healthier alternative for those who still want to enjoy social events. Will the sharks raise a toast to her mission? Let’s find out in our Little Saints update and pitch recap.

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

Megan appeared on Shark Tank Season 16 to pitch Little Saints, seeking $500,000 for 5% equity. Despite several offers from the sharks, Megan rejected all and left without a deal, feeling confident about her company’s value and future success.

In terms of a Little Saints update, the company secured a $20 million fundraising round and partnered with Sprouts Farmers Market.

Shark	Result
Rashaun Williams and Kevin O’Leary	$500,000 for 15% equity
Lori Greiner	No offer
Daymond John	No offer
Mark Cuban	No offer

Shark Tank Little Saints Pitch

• Entrepreneur: Megan Klein
• Business: Non-alcoholic cocktails and spirits fueled by functional mushrooms
• Ask: $500,000 for 5% equity
• Result: No Deal
• Sharks: None

Megan started Little Saints to offer a better choice for people cutting down on alcohol.

After balancing a busy legal career and a love for cocktails, she created a line of drinks powered by functional mushrooms.

On Shark Tank, she aimed to get support to grow her direct-to-consumer sales and reach more health-conscious drinkers.

Little Saints’ alcohol-free cocktails are modeled after popular drinks like Negroni Spritz and Spicy Margarita.

By selling directly online, Megan connects with customers looking for healthier options that still taste great.

The drinks are sugar-free and infused with ingredients like Reishi and Lion’s Mane mushrooms, which are known for their health benefits, such as reducing stress and boosting mental clarity.

During her pitch, Megan highlighted her business’s rapid growth.

The production cost is $7, and after adding shipping and fulfillment, it comes to $23. Each bottle sells for $49.99, offering a solid 54% profit margin.

Over the past year, her business experienced a massive 600% growth, hitting $5 million in sales since October 2023.

She invested $1 million of her savings and raised another $2.2 million. Currently, the company has a $650,000 line of credit with $500,000 drawn, $200,000 in cash, and $600,000 in receivables.

Little Saints has come a long way since 2022, when it made $500,000 in sales but suffered a $1.1 million loss.

Fast forward to 2024, and the company’s sales have grown to $4 million, with losses shrinking to $160,000.

Megan’s customer acquisition cost is $42, with a strong 4x ratio of lifetime customer value (LTV) to CAC.

The company’s top seller is St. Ember Bottled Spirit.

Guest shark Rashaun Williams says she’s a great founder and proceeds to make an offer for $500,000 for 10% equity.

In response, Megan counters him by sticking to her initial ask of $500,000 for 5% equity and access to a $2 million line of credit, but Rashaun declines this counter.

Lori Greiner says she has a passion for Megan but not her product. She exits the negotiations.

Daymond John says he has an issue with her high valuation. He’s out as well.

Mark Cuban says he’s not interested in the product. He’s out.

Kevin O’Leary teams up with Rashaun to offer $500,000 for 15% equity, but Megan rejects this offer as well, citing her desire to preserve the valuation she believes her company has earned.

Ultimately, she left without a deal.

With no deal in hand, let’s get a Little Saints update to see how Megan is doing today.

Shark Tank Little Saints Update

Shortly after the episode aired, Megan took to her Instagram page to announce that they had secured a fundraising round at a valuation of $20 million, double what was offered on the show.

Our Little Saints update revealed that the company partnered with Sprouts Farmers Market and gained placement in 400 stores nationwide.

Additionally, Little Saints launched a new flavor, Spiced Old Fashioned.

The company continues expanding its product line, with nearly 800 stores stocking its mocktails, which focus on wellness-driven, non-alcoholic alternatives.

Our Little Saints update found that strategic partnerships, including collaborations with wellness brands and yoga studios, have played a major role in the company’s growth.

Little Saints also worked with mixologists to keep their flavors fresh and appealing.

Tapping into the “sober curious” movement, the company offers non-alcoholic alternatives for those wanting to reduce their alcohol intake while still maintaining a social lifestyle.

Their unique use of functional mushrooms, known for promoting focus and wellness, gives them a distinct edge in the market.

Looking ahead, Little Saints plans to expand internationally and introduce eco-friendly packaging.

They’re also gearing up for Dry January with special promotions aimed at this growing health trend.

It will be interesting to see what Megan’s future holds in our next Little Saints update.

For more updates from Shark Tank Season 16 Episode 1, be sure to check the links below:

• 1587 Sneakers Update
• TRUFIT Customs Update
• Card.io Update

Before you go, be sure to check out our list of all the Shark Tank Season 16 products.