Sap Update | Shark Tank Season 9

Sap was featured on Season 9 of Shark Tank and included two cousins, both entrepreneurs, who were looking to receive a $600,000 dollar investment in exchange for 12% equity of their plant-based beverage company. The sharks seemed interested in learning more but were immediately concerned about the significant valuation that they had placed on their own company. Let’s see if the sharks are willing to make a deal before we give you a current Sap update.

Shark Tank Sap Update

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 the company is to build one of the healthiest beverage companies that is based on sap. Making that vision a reality would probably require the help of a shark, but the sharks were struggling to figure out how they could risk such a large amount of money for so little equity.

Sap is focused on three primary flavors and sells an individual canned beverage for about $1.99. Customers can also opt to buy a 4-pack which is priced at about $8. It costs Sap about $.50 to make a can of their beverage. Since launching and about 15 months prior to the company’s appearance on Shark Tank, 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.

The good news is that the company is still in business. Customers can purchase the beverage either on Amazon or through the company’s official website portal. 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.

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

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