Nowhere Bakery Update | Shark Tank Season 15

Entreprenuers Maurizio and Saphira Rasti pitched their baked goods during Shark Tank Season 15. Nowhere Bakery isn’t like other bakeries, however. This brand offers sweet treats that cater to a wide variety of dietary needs. Will their healthy treats bring them a deal? Find out in our Nowhere Bakery update and pitch recap!

If you’re short on time, here’s a quick overview of what happened to Nowhere Bakery after Shark Tank!

Maurizio and Saphira Rasti appeared on Shark Tank Season 15 and ultimately got a deal with Barbara Corcoran for $100,000 in cash and $100,000 as a line of credit for 12.5% equity. In terms of a Nowhere Bakery update, the company is still in business and received a nice boost in sales after appearing on Shark Tank. Products are available on Amazon and on the company website.

Shark: Result:
Barbara Corcoran Accepted deal for $100,000 as cash, $100,000 as a line of credit for 12.5% equity
Kevin O’Leary and Jason Blum Offer of $200,000 for 20% equity
Mark Cuban No offer
Lori Greiner  No offer

Shark Tank Nowhere Bakery Update

Nowhere Bakery update

  • Entrepreneurs: Maurizio and Saphira Rasti
  • Business: Healthy bakery
  • Ask: $200,000 for 5% equity
  • Result: $100,000 as cash, and $100,000 as a line of credit, for 12.5% equity
  • Shark: Barbara Corcoran

Although Maurizio can eat just about anything without any trouble, his wife Saphira has alot of allergies. This is why they created a line of allergen friendly dessert products for people like her, called Nowhere Bakery.

Nowhere Bakery specializes in cookies and brownies, made with better for you ingredients. In fact, they’re free from dairy, eggs, gluten, soy, refined sugar, sugar alcohols, and they’re also paleo-friendly.

The couple introduces the sharks to their products, which include a chocolate chip cookie, a candy bar cookie, an almond butter brownie. They also get to taste a few other of their treats, which the sharks seem to enjoy!

The company launched in March of 2020, two weeks before the world shut down.

In terms of how the company finds its customers, Saphira is a food blogger and recipe developer. Saphira then used her network of other food bloggers, and sent them treats to try, in exchange for help spreading the word.

Saphira was baking all of the goods herself, then hand delivering them to customers.

Regarding sales, in 2020, they closed with $92. In 2021, they had $524,000 in sales, and in 2022, they had $770,000 in sales.

Then in 2023, they anticipated closing the year with $1 million for Nowhere Bakery. In terms of profitability, in the year prior, they profited $32,000.

That said, they started the company with $400. Now, they have an online model, as well as a wholesale model.

Direct to consumer, it costs them $1.92 to make per unit, which they retail for around $6. However, they sell them in either a 6 pack, 12 pack, or 14 pack, and the average transaction is $80.

At the time of filming, they are doing all the work themselves out of a commercial kitchen. While they are open to working with a co-packer, for now, they like the control they have of doing it themselves.

Kevin O’Leary insists that they should move to a co-packer so they can have a higher impact overall. That said, Barbara Corcoran says working with co-packers on these types of products never goes well.

Kevin offers the couple $200,000 for 20% equity, but he wants to work with a co-packer.

Mark Cuban clears the deck. During the pitch, it seems that he looked at the packaging, and was shocked to find that one cookie had 300 calories, so this caused him to bow out.

Barbara offers $100,000 in cash and $100,000 as a line of credit for 15% equity. She has had success with other food companies, like Daisy Cakes.

Lori Greiner likes the products, however, she agrees with Mark about the calories. She goes out next.

Guest shark Jason Blum asks Kevin if he can go in on the deal with him, and Kevin agrees. So, the two sharks together re-offer $200,000 for 20%.

At this point, there’s quite a lot of back and forth between Barbara, Jason and Kevin. Barbara feels that it’s too soon for Nowhere Bakery to get out of the kitchen, whereas Jason and Kevin believe that it’s time to move to a co-packer right away.

Maurizio counters Barbara for $400,000 for the 15% equity, but Barbara turns him down. Then Saphira counters Barbara’s original offer but at 12.5% equity.

Barbara says she’ll do the deal, and the couple walk away with Barbara as their new partner!

Keep reading our Nowhere Bakery update to find out what happens following Shark Tank!

We have good news to share in our Nowhere Bakery update! Maurizio and Saphira have built a social media following, which has only grown since appearing on Shark Tank. Now, with Barbara on their team, the sky is the limit.

The company sells baked goods and mixes, some of which are available on Amazon. You can also shop on the Nowhere Bakery website for more of the products.

There’s also a store locator on the site, so you can learn if products are available for sale near you!

Once the dust settles, we will circle back for a more detailed Nowhere Bakery update.

In the meantime, you can check out our other company updates from Season 15, Episode 18, by following the links below!

For even more on companies and products, be sure to stop by our Season 15 Products Page before you go!

Website | + posts

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!