Simply Good Jars appeared on
Shark Tank Simply Good Jars Update
- Entrepreneur: Jared Cannon
- Business: Salads in a jar
- Ask: $500,000 for 7% equity
- Result: $500,000 for 10% equity
- Shark: Mark Cuban and Lori Greiner
Prior to the COVID-19 pandemic, Jared shared that Simply Good Jars was selling via vending machines in airports, hotels, college universities, and other places with a large amount of foot traffic. However, due to the majority of these places being shut down in the pandemic, Jared had to move his business local and is now partnering with a variety of grocery and convenience stores.
At the time of the pitch on
All of this was enough to interest Kevin O’Leary and Lori Greiner who went in together on an offer of $500,000 as a loan at 9.5% interest and 7% equity. After some talk about wanting to raise more money from outside investors, Mark Cuban decided to jump in and shared that he didn’t think the company needed to raise any more money and matched Kevin and Lori’s offer and dropped the interest to 3%.
While discussing all of this, Mark changed his offer to $500,000 for 10% equity and offered Lori the chance to join him. After it was all said and done, Mark and Lori teamed up and Simply Good Jars left the tank with a deal of $500,000 for 10% equity.
In terms of a Simply Good Jars update after
If we get more news on a Simply Good Jars update, we will be sure to let you know! If you’d like to order a jar, you can do so on the official website.
In the meantime, be sure to check out some of our other updates from the companies featured on Season 12 Episode 16.
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