Milkify Breastmilk Service Update | Shark Tank Season 14
Most breastfeeding moms store their milk in the freezer, but it takes up space and only lasts about 3 months. That’s why Dr. Berkeley Luck and her husband Pedro Silva have come up with a contact free way of freeze-drying breastmilk for customers. Will they earn a deal on
Shark Tank Milkify Update
- Entrepreneurs: Pedro Silva and Dr. Berkeley Luck
- Business: Service that freeze-dries breastmilk
- Ask: $400,000 for 10% equity
- Result: $400,000 for 20% equity on a three-year convertible note
- Sharks: Lori Greiner and Gwyneth Paltrow
Dr. Berkeley and Pedro brought their company Milkify to
Every ounce of breast milk that is sent to Milkify is turned into powder to conveniently store breast milk in a little pouch.
It costs customers about $1.60 an ounce. Average orders have been as high as $400 over the company’s existence.
Milkify had lifetime sales in excess of $500,000 with an additional $2 million of certified pre-orders. Pedro told the sharks that he expected his company to end the current calendar year with $500,000 in gross revenue.
Mark Cuban believed that Milkify’s services were too expensive and niche, so he dropped out. Kevin O’Leary and Barbara Corcoran also dropped out.
Guest shark Gwyneth Paltrow and Lori Greiner teamed up to offer $400,000 in exchange for 20% equity. The money would be granted in a convertible note for either equity or getting their money back in three years.
Ultimately, the couple accepted the deal, but what happened next? Keep reading our Milkify update to find out!
We have great news to share in our Milkify update! The company is still in business and is transitioning from breaking even to generating a profit, thanks to the popularity of
It is still advertised as the best breast milk freeze-drying service and storage service on the market. You can find out more on the Milkify website.
With Gwyneth and Lori on the team, we are confident that our next Milkify update will be even better.
Do you want to learn about the other companies featured in Season 14 Episode 19? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 14 Products Page!
Jeremy is a regular contributor at Shark Tank recap. He has a ton of passion for the show and enjoys researching information about what all the companies are up to now. His favorite Shark Tank companies are The Cookie Dough Cafe and Kronos Golf!
