Mavens Creamery Update

Mavens Creamery Update | Shark Tank Season 10

Sisters, Gwen and Christine, came onto Shark Tank in Season 10 to highlight their business known, Maven’s Creamery. The pair came in seeking a shark that would be willing to invest $400,000 in exchange for 10% of their company. Before we discuss the Maven’s Creamery update, we will take a closer look at the Shark Tank pitch for Maven’s Creamery to see how the two sisters performed during the negotiations.

Shark Tank Mavens Creamery Update

Mavens Creamery Update

  • Entrepreneurs: Gwen Nguyen and Christine Nguyen
  • Business: Creamery
  • Ask: $400,000 for 10% equity
  • Result: $400,000 for 25% equity
  • Sharks: Barbara Corcoran

The first thing that Gwen and Christine told the sharks is that they needed a strategic partner to help scale the business. They touted the demand for their company’s products and told the sharks that the money would be used to help keep up with the ongoing demand from customers.

Kevin O’Leary raised concerns about the shelf life of the product, suggesting that it could spoil quickly. Gwen and Christine quickly reassured Kevin that the taste and flavor of the product doesn’t spoil for up to six months or longer.

The sharks finally wanted to hear about the company’s financial sales numbers. During the current calendar at the time of the pitch, Maven’s Creamery had managed to generate more than a million dollars in sales. They assured the sharks that their company would reach the $2 million mark by the conclusion of the calendar year. Let’s see how the negotiations went with the sharks and the entrepreneurs.

Mark Cuban didn’t believe the company’s financial numbers and margins were enough to make a profit, so he dropped out. Lori Greiner, Kevin O’Leary, and Daymond John decided to drop out for similar reasons.

With Barbara Corcoran as the last remaining shark who hasn’t dropped out, she told Gwen and Christine that she was interested in making an offer. They ultimately agreed to a deal of $400,000 for 25% equity.

Now that we know how the negotiations turned out, let’s get a Maven’s Creamery update to see how the company is doing right now.

The deal between Maven’s Creamery and Barbara never finalized after the Shark Tank appearance. Christine and Gwen have managed to increase their company’s sales to $3 million per year by expanding to Whole Foods stores in several regions and still have an active website.

You can find the other company updates from Season 10 Episode 20 here:

Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from Shark Tank Season 10.

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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!