Potato Parcel Update | Shark Tank Season 8
Shark Tank Potato Parcel Update
- Entrepreneur: Alex Craig and Riad Bekhit
- Business: Customized messages written on a potato
- Ask: $50,000 for 10% equity
- Result: $50,000 for 10% equity and $1 royalty until $150,000 is paid back
- Shark: Kevin O’Leary
As the pitch went on, however, the sharks started taking the Potato Parcel founders more seriously when they revealed that they’d sent over 12,000 messages and already made $215,000 in sales. This came out to an average of $10,000 in sales per month since Potato Parcel first launched in May 2015.
Despite being impressed with the numbers, most of the sharks backed out pretty quickly. Both Lori Greiner and Daymond John thought that Potato Parcel was more of a gag company while Mark Cuban, although not thinking that the idea was completely crazy, went out anyway. This left Robert Herjavec, who thought that the valuation was too high, and Kevin O’Leary, who isn’t a stranger to weird investments, having had done so before with the wildly successful Illumibowl.
Despite his reservations, Robert offered $50,000 for 25% equity. On the other hand, Kevin was more than happy to offer the entrepreneurs exactly what they asked for, $50,000 for 10% equity in addition to a $1 royalty until $150,000 was paid back. After some thought, Alex and Riad accepted Kevin’s offer.
This now brings us to our Potato Parcel update, in which we can safely say that Kevin is one happy shark. Soon after airing on
Then, in 2018, a Potato Parcel update from CNBC revealed that Bekhit was already bringing in a 6-figure salary. Fast forward to 2021 and Potato Parcel is now worth an estimated $1 million with the company having already sent over 70,000 parcels and making over $700,000 in revenue since airing on
Not bad for a company that initially started because one of the founders stumbled across a Reddit post, right?
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