Everyone knows how frustrating condiment packets can be. They’re hard to open and messy! That’s why Cole and Emily Williams were inspired to create a new way to enjoy condiments. Will they slice up a deal on
Shark Tank Slice of Sauce Update
- Entrepreneur: Cole and Emily Williams
- Business: Dehydrated and sliced condiments
- Ask: $200,000 for 10% equity
- Result: $200,000 as debt which converts to 15% equity when $1.8 million in sales is reached
- Shark: Alex Rodriguez
Cole and Emily appeared on Shark Tank Season 12 Episode 10, with their company and product, Slice of Sauce. As the name implies, the product is literally a slice of sauce, that they dehydrate into a jelly-like form.
Seeking $200,000 in exchange for 10% equity, the pair pitched not just a product, but a vision of mess-free sandwiches.
The product was straightforward but genius: condiments, like ketchup or sriracha, transformed into sliceable sheets. Think fruit roll-ups, but savory. When the Sharks sampled a grilled cheese sandwich made with these slices, they were pleasantly surprised by the concentrated flavor and convenience.
However, beyond the flavor, the unique manufacturing process was key. Opting for trade secrets over patents, Emily and Cole revealed they have licensing agreements in the works with big names such as McCormick, Stubb’s, and Frank’s.
Each Slice of Sauce product has an impressive 12-month shelf life without refrigeration. Despite the innovative approach, the product raised eyebrows regarding its pricing.
Retailing at $5.99 for eight slices, the price point marked it as a premium product. The couple emphasized that they were selling flavor and convenience, not just ketchup.
Unfortunately, challenges became evident as the sharks started to ask questions.
Cole and Emily had launched Slice of Sauce via a successful Kickstarter campaign in 2018 that raised $34,000. However, two years later they remained pre-revenue.
Manufacturing the product proved tricky, leading to manual production methods. Their hope was to secure funding for machinery to streamline production.
Their financial journey had its ups and downs. Cole and Emily poured $120,000 of personal funds into the venture and raised $500,000 from friends and family and participation in a tech accelerator.
The sharks were intrigued but had concerns. The core challenge was determining if the product met a significant market need and could be manufactured at a cost-effective scale.
At the time of filming, Slice of Sauce isn’t available to buy, however, they are still expecting to do $1.8 million in sales within their first year. Despite being pre-revenue, Cole and Emily land the interest of guest shark Alex Rodriguez.
Alex offers them $200,000 as debt. This then converts to 15% equity with sales of $1.8 million. Before long, Cole and Emily accept the deal!
What happens next for their company? Keep reading our Slice of Sauce update to find out!
We have sad news to share in our Slice of Sauce update. The deal with Alex never closed, and consequently, the company is no longer in business.
During our Slice of Sauce update research, we found that the site has been taken down and its social media channels haven’t been updated since September 2021.
Although Cole and Emily had big plans to change the condiment market, it seems they just couldn’t make it happen.
This will be our final Slice of Sauce update.
Be sure to check updates on the other companies from Season 12 Episode 10 below:
For more Season 12 company updates, be sure to check out our Season 12 Products page.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!