Back in Season 8 of
Shark Tank Nomiku Update
- Entrepreneur: Lisa Fetterman and Abe Fetterman
- Business: Sous vide cooker
- Ask: $250,000 for 5% equity
- Result: $250,000 for 10% equity
- Shark: Chris Sacca
Nomiku is an “easy-to-use and affordable product” that aims to make cooking sous vide at home more convenient. After the husband-and-wife duo’s presentation and getting a taste of the delicious food, the sharks went ahead and gave their own takes on the business.
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First up was Kevin O’Leary, who was concerned about the valuation. While the company had done $3 million in sales at the point of the presentation, it had been in operation for four years. Because of this, Mark Cuban felt like there was not enough momentum. He also added that he wasn’t that knowledgeable in the industry, so he went out followed by Lori Greiner and Robert Herjavec.
Going back to Mr. Wonderful, O’Leary found the business interesting enough to propose an offer. However, despite receiving an offer of $250,000 for 10% equity from Kevin, the couple decided to try and negotiate a deal with Chris Sacca. This prompted Kevin to pull his offer. Luckily, Chris was feeling generous and decided to extend the same offer as Kevin to the Fetterman’s.
The only difference with Chris’ offer was that it had a contingency. Chris stipulated that the only way that the deal would push through is if the other investors allowed the Fetterman’s to retain a 40% stake of the company. Ultimately, Lisa and Abe accepted and made a deal with Chris.
Unfortunately, we’ve got some bad news for our Nomiku update. The company ceased its operations in December 2019, just three years after their episode aired on
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