Sap Update | Shark Tank Season 9

Consumers are increasingly seeking healthier alternatives to sugary sodas, leading Nikita Salmon and Chas Smith to create SAP Maple, a plant-based beverage made from maple and birch sap. This innovative drink caters to the growing market for natural options, capitalizing on a shift away from traditional sodas. Let’s see if the sharks are willing to make a deal with the entrepreneurs in our Sap update and pitch recap. 

If you’re short on time, here’s a quick overview of what happened to Sap after Shark Tank.

Nikita Salmon and Chas Smith sought a $600,000 investment for a 12% equity in their company. Despite a compelling pitch, the sharks ultimately passed on the deal.

In terms of a Sap update, the company found success after the show. The media exposure from Shark Tank generated a significant sales boost. While specific figures aren’t available, estimates suggest annual revenue has surpassed $1 million.

Shark	Result
Robert Herjavec	$300,000 for a 30% equity
Lori Greiner	No offer
Rohan Oza	No offer
Mark Cuban	No offer
Barbara Corcoran	No offer

Shark Tank Sap Pitch

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

Nikita and Chas, the founders of SAP Maple, entered Shark Tank with a proposition for the sharks. They are requesting an investment of $600,000 in exchange for 12% equity in their company. 

The entrepreneurs began their pitch by sharing their business story and delivering a persuasive pitch to convince the sharks of SAP Maple’s potential. 

Chas explained that the SAP Maple is offered in three refreshing varieties: sparkling (similar to soda), lightly sparkling (like sparkling water), and still (just pure water). 

All the drinks are conveniently canned and produced in Vermont. Recognizing the consumer trend towards healthier options, Nikita and Chas see SAP Maple as a natural fit within the growing market of plant-based beverages, joining the ranks of coconut water, cactus water, and other maple water products. 

Their vision is clear: to capitalize on the declining popularity of sugary sodas by offering a delicious and healthy alternative. 

To increase the production of SAP Maple, Nikita and Chas secured over $450,000 through investments and loans in 2015. With additional funding from family and friends, they launched their business. 

Now, their focus is geared towards the expansion of their brand beyond Vermont, which is where they think a shark’s expertise could be valuable. 

After their pitch presentation, Nikita and Chas eagerly awaited the sharks’ feedback. They passed out samples of their SAP Maple beverages, hoping to win over their taste buds. 

While Lori Greiner found all three varieties refreshing, the sweeter options – likely the soda and sparkling water – proved to be a bit divisive. 

Mark Cuban, Robert Herjavec, and Barbara Corcoran didn’t seem as enthusiastic about the taste of those particular flavors. 

Guest shark Rohan Oza isn’t a fan of the birch sap soda flavor. He said it was “unpleasant.”  Despite this, the entrepreneur duo revealed their production costs are low – around $0.50 per can – with a healthy retail price of $1.99 individually or $7.99 for a six-pack.  

Interestingly, the sharks seemed more intrigued when they learned the product is essentially carbonated raw syrup. Chas revealed that in the past year and a quarter, SAP Maple had already generated $400,000 in sales. 

The conversation shifted towards the health benefits of maple and birch sap. 

Mark Cuban was impressed by the idea and could see his children enjoying the drinks, but the marketing approach didn’t resonate with him, so he dropped out of the deal. 

Unfortunately, Barbara Corcoran wasn’t a fan of the taste either, and she’s out as well. 

Lori Greiner, however, was a strong advocate for the product. She enjoyed the taste but expressed concern that the business was still in its early stages. She exits the deal. 

Meanwhile, Robert Herjavec saw potential in the health message behind SAP Maple. He made an offer of $300,000 for a 30% equity. 

Rohan didn’t quite understand the unique selling proposition of the product and dropped out of the deal. 

The entrepreneurs attempted to counter Robert’s offer with a 20% stake, but he changed his mind and decided to walk away from the deal.

Let’s quickly check on the Sap update to see how the company has been doing since appearing on Shark Tank. 

Shark Tank Sap Update

Despite not securing a deal on Shark Tank, SAP Maple experienced a surge in popularity after the episode aired.

They saw a jump in online sales, exceeding $100,000 within just ten days.

While they have yet to land distribution in major national retail chains, SAP Maple continues to be available for purchase directly through the SAP website and on Amazon.

We don’t have exact financials, but we estimate that Sap generates 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 Shark Tank Season 9 page for more updates!