In this Sanaia Applesauce update, we’ll take a look at this organic applesauce brand that was originally featured in
Shark Tank Sanaia Applesauce Update
- Entrepreneurs: Keisha Jeremie
- Business: Organic Applesauce
- Ask: $150,000 for 15% equity
- Result: $150,000 for 25% equity
- Shark: Mark Cuban
Keisha told the sharks that the product has only been tested through a direct-to-consumer process that lasted approximately six months. During that time, she earned about $40,000 in sales. Keisha expressed her belief that the sales were primarily from individuals that wanted to shift their diet to something plant-based and vegas, while also healthy.
Her cost for a single jar of applesauce is just $4, while she can sell a set for about four times that amount. Kevin O’Leary raised the concern that it seemed a little expensive, but the organic recipe for the applesauce justifies the price in Keisha’s mind. Shifting topics, the sharks wanted to know how much money she had raised for her organic applesauce brand. Keisha quickly responded and told the sharks that she invested $250,000 of her own money to get her business off the ground.
Mark Cuban raised some concerns with the jar packaging instead of the paper cup packaging, suggesting that it would be cheaper to get rid of the jar and improve her product margins that way. Unfortunately, before Keisha had a chance to respond, Lori Greiner dropped out of negotiations because she didn’t think it was the right type of investment for her. Robert Herjavec also dropped out because he didn’t like the presentation, specifically regarding the product’s performance in trade shows.
Barbara Corcoran admitted to Keisha that she could make an offer, but that it would likely insult her. She decided to speak it into existence and told her that she’d give her $150,000 for 75% equity of the company. Keisha quickly declined and Barbara dropped out of the negotiations immediately afterwards. Kevin discussed a few of his concerns before dropping out because he believes it was too risky of an investment.
Keisha’s last chance was to strike a deal with Mark Cuban, who had some concerns but still seemed interested. He made an offer of $150,000 for 25%, which Keisha said she was comfortable with accepting.
Now all that remains to discuss is the present day Sanaia Applesauce update. Unfortunately, the deal with Mark Cuban never finalized and Sanaia Applesauce went out of business as soon as the United States experienced the COVID-19 pandemic. However, on April 2, 2022 Keisha announced on Facebook that she was relaunching Sania.
So, it’ll be interesting to see what our next Sanaia Applesauce update has in store!
You can find the other company updates from Season 10 Episode 2 here:
Don’t forget to take a look at our Season 11 products page! We’ve got more company updates from