When Will Smelko and Ronald Chang of Ora Organic came to
Shark Tank Ora Organic Update
- Entrepreneur: Will Smelko and Ronald Chang
- Business: Sustainable plant-based supplements
- Ask: $375,000 for 5% equity
- Result: No Deal
- Shark: None
According to Will and Ronald, Ora Organic is a company founded “by and for healthy foodies to replace synthetic supplements with nutrients from organic & sustainable sources.” The company sells plant-based supplements using Omega-3 from microalgae and protein from plants. They sell everything from organic powders to proteins, probiotics, and Omega-3 sprays.
After getting a taste of the products, the sharks agreed that the supplements tasted good. The sales agreed as well. In less than a year, Ora Organic had done $415,000 in sales, which should only grow further with a shark in tow.
Unfortunately, Robert Herjavec did not see it that way. Instead, he focused on the competition within the industry and went out. Daymond John followed because he did not like their “unrealistic” valuation. Meanwhile, Lori Greiner expressed her concerns about the company’s marketing, so she decided to back out as well.
With only two sharks left, Ora Organic still had a chance with Mark Cuban. But Mark did not like how the brand was dependent on being “unique,” so he went out.
Kevin O’Leary, on the other hand, extended an offer of $375,000 for 20%. Will and Ronald countered with 7.5% equity, prompting Kevin to counter their counter at 17%.
The two then gave their final offer of $500,000 for 10%, which Mr. Wonderful declined the only way that he knew how.
Since Ora Organic failed to secure a deal in the
It’s quite the opposite. Ora Organic received a lot of exposure after appearing in
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