If you’re a parent, you’ve probably struggled with making healthy eating fun for your kids. Adam Gerber and Bob Ntoya have created a product that is designed to bring entertainment to fruit. These edible stickers are safe and made from all-natural ingredients, mostly tapioca starch. What will the sharks make of this proposition during
Shark Tank My Fruity Faces Update
- Entrepreneuars: Adam Gerber and Bob Ntoya
- Business: All-natural, edible stickers
- Ask: $200,000 for 10% equity
- Result: No deal
- Shark: None
Bob and Adam entered
The easy-to-use stickers were then offered to the sharks along with pieces of fruit. Kevin O’Leary was interested in their $2 million valuation and asked if they’d sold many stickers already. Bob and Adam said they’d sold $125,000 in three years, and $2,000 in the last month.
The sharks were shocked by these figures, taking into consideration the valuation. Bob explained that they were waiting to go into 3,600 Walmart stores and they needed the investment for inventory.
There were no actual purchase orders made for My Fruity Faces at the time. All the sharks unanimously showed that they were put off by this information.
Bob said they were also in talks with Whole Foods and other retailers. Bob and Adam had raised $482,000 and were $177,000 in debt at the time. Barbara Corcoran immediately went out upon hearing these figures.
Bob said they were going to partner up with Dole, but Daymond John told them their approach was wrong. He advised that they should have invested a small amount and gone to schools and street fairs. Daymond went out, stating that Bob and Adam made a ‘cardinal mistake’.
Mark Cuban agreed with Daymond and advised them to reconsider their approach to sales. Kevin said they shouldn’t invest any more money in the product and went out.
Guest shark Chris Sacca said he admired their hustle and drive and thought the product would appeal to kids, but thought too much would have to change to save the finances. He went out.
Kevin asked Mark what he wanted to do. Mark said he liked the concept, but then Bob and Adam admitted their Nickelodeon license had also expired so they couldn’t sell the related stickers.
Mark believed the concept was good, but that something was going wrong. He went out because he didn’t want to find out how to fix it.
Bob and Adam had to leave
During our My Fruity Faces update research we found that while Adam and Bob tried to hold on for a while longer, the company ultimately went out of business in 2018.
Bob and Adam have since moved on to other ventures in different fields. This will be our final My Fruity Faces update.
Are you interested in the other companies appearing in Season 7 Episode 26? Follow the links below to read our other company updates for the episode,
Check out our Season 7 Products Page for even more on companies and products!