Sap Update | Shark Tank Season 9

Sap was featured on Shark Tank Season 9 and was pitched by cousins, Nikita Salmon and Chas Smith. The duo was looking to receive a $600,000 investment in exchange for 12% equity in their plant-based beverage company. The sharks seemed interested in learning more but were immediately concerned about the large valuation. Let’s see if the sharks are willing to make a deal before we give you a Sap update.

Shark Tank Sap Update

• Entrepreneurs: Nikita Salmon and Chas Smith
• Business: Healthy Sap Beverages
• Ask: $600,000 for 12% equity
• Result: No deal
• Sharks: None

According to Nikita and Chas, the ultimate vision for Sap is to build one of the healthiest beverage companies with sap as a core ingredient. Making that vision a reality would probably require the help of a shark, but they were struggling to figure out how they could risk such a large amount of money for so little equity.

Sap! Maple Seltzer Water – Case of 24 – USDA Organic Gluten Free Non-GMO – Delicious alternative with only 40 calories – low glycemic and contains electrolytes and 46 natural nutrients

• Refreshing beverage naturally low in calories, gluten-free, dairy-free, vegan and non-GMO
• Sap! uses pure maple sap that is sourced, grown and produced in Vermont
• Each can contains 46 naturally occurring vitamins, minerals, polyphenols, antioxidants and prebiotics

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Sap has three primary flavors and sells an individual canned beverage for about $1.99. Customers can also opt to buy a 4-pack for around $8.

It costs Sap about $.50 to make a can of its beverage, and since launching about 15 months ago, Nikita and Chas admitted that they had about $400,000 in total sales.

Mark Cuban and Barbara Corcoran were the first two sharks to drop out without making an offer. Robert Herjavec decided to make an offer of $600,000 in exchange for 30% equity.

Nikita and Chas tried to convince Robert to come down on the equity a little bit but ultimately decided to walk away from a deal due to the amount of equity that would have to be given away. Let’s quickly check on the Sap update to see how the company is doing since appearing on Shark Tank.

We are happy to report that at the time of writing Sap is still in business. Customers can purchase the beverage either on Amazon or through the company’s official website.

While Nikita and Chas did not receive a deal on Shark Tank, they certainly proved that they could keep their business alive without the help of a shark. We don’t have exact financials, but we are estimating the Sap does well over $1 million in annual revenue.

When we get a more detailed Sap update, we will be sure to let you know.

You can find the other company updates from Season 9 Episode 21 here:

• Radiator Update
• Petrol Update
• EveryTable Update

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.