The trend surrounding coconut milk is worn out, and the market desperately needs something new. This was the philosophy that brought Kun Yank and Mo Hassoun to discover cactus water, an alternative that has less sugar and calories than coconut water. Their company, Pricklee, is just getting started. What will the sharks have to say about it during the Season 13 pitch? Let’s talk about what happened in our
Shark Tank Pricklee Update
- Entrepreneurs: Kun Yank and Mo Hassoun
- Business: Cactus water beverage
- Ask: $200,000 for 5% equity
- Result: $200,000 as a line of credit and 20% equity
- Shark: Barbara Corcoran
Pricklee’s coconut water comes in three delicious flavors. The sharks immediately loved the product, but the sales were a bit worrying. Pricklee launched a few months before filming, and sales were only at about $50,000 per month.
It was too early for Lori Greiner, who dropped out first. Mark Cuban followed because he had issues with the nutrition and packaging. It didn’t seem to tell customers about the benefits of cactus water, which was a drawback for him.
Guest shark Emma Grede thought the product was interesting, but they aren’t advertising their purpose enough for her so she went out. Barbara Corcoran initially went out as well, because distribution in beverage deals was too dangerous for her.
This left Kevin O’Leary. He hated beverage deals, but he liked the product. He offered $200,000 for 20% equity with no flexibility. Kun and Mo tried to counter for a line of credit instead, but Kevin wouldn’t budge.
As a result, Barbara said she would do the deal on those terms, and they accept. Where is Pricklee now? Find out in our
Following their appearance on the show, it appears that Pricklee has taken some of the sharks’ advice. Its website contains a lot of information about what sets their water apart, though it doesn’t look like they’ve changed the packaging yet. While researching for our Pricklee update, we found a lot of social media presence for the company, too!
Before you go, don’t forget to check up on our other company updates from Season 13 Episode 22.
You can find the rest of our Season 13 company updates on our Season 13 product page.