Kristoffer and Victor came onto
Shark Tank Nui Cookies Update
- Entrepreneurs: Kristoffer Quiaoit and Victor Macias
- Business: Nutritional cookies
- Ask: $300,000 for 10% equity
- Result: $300,000 for 25% equity
- Sharks: Alex Rodriguez
After passing out samples of their nutritional cookies, it was time to negotiate. Kristoffer and Victor started by telling the sharks that they have $1 million in sales over the past year, certainly an impressive number. Even more impressive, all of the sales came directly through the Nui Cookies website.
The packages cost about $13 to make while they are being sold for around $30 per package. Improving margins was admittedly one of the primary reasons for coming on
Mark Cuban took a moment to tell Kristoffer and Victor that he’s already invested in a competitor’s brand and wouldn’t be able to make an offer. He dropped out of negotiations for that reason. Lori Greiner also dropped out because she believed the valuation was way too high.
Kevin O’Leary made them an offer after the previous two sharks dropped out. His offer was a $1 royalty until he makes his money back and then it drops down to $0.45 in perpetuity. In addition, Kevin wanted 2.5% equity in the company in exchange for the $300,000 investment. Barbara Corcoran also made them an offer, $150,000 in cash and $150,000 in credit for 15% equity, plus a royalty in perpetuity.
It didn’t seem Kristoffer and Victor were interested in a royalty deal, so guest shark Alex Rodriguez offered $300,000 for 25% equity and immediately got a deal.
Now, let’s take a look at the Nui Cookies update after
Unfortunately, it looks like this might be our final Nui Cookies update.
You can find the other company updates from Season 10 here:
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