Souper Cubes appeared on Shark Tank Season 12 Episode 14 and landed a deal with Lori Greiner. Since Lori awarded Jake and Michelle her Season 12 Golden Ticket, you may be looking for a Souper Cubes update after
Shark Tank Souper Cubes Update
- Entrepreneur: Jake and Michelle Sendowski
- Business: Cubes to freeze leftovers
- Ask: $400,000 for 5% equity
- Result: Lori Greiner
- Shark: $400,000 for 5% equity
Husband and wife team and Souper Cubes founders Jake and Michelle Sendowski were featured on
With a sturdy silicone design, each storage tray is designed with multiple, individual storage cubes that come in a variety of sizes. After it’s frozen, you can simply take the lid off, pop out a cube to re-heat, and stick the rest back in the freezer. This helps to prevent you from having to heat up a larger serving than desired and makes freezing leftovers simple.
All the sharks were blown away with the design and creativity of the product and were even more excited with Jake and Michelle shared that it did $990,000 in sales in 2019 and had done $1.6 million in sales so far in 2020 with an estimate of $3.3 million by the end of the year. Further, each tray only costs $3.80 to make and retails for $19.95.
Jake and Michelle received offers from Kevin O’Leary, Barbara Corcoran, and Lori Greiner. Kevin made two separate offers, one of which was $400,000 for 15% equity and the other was $400,000 for 3% equity with a $0.40 royalty until $1 million was repaid. Barbara also made two offers: $400,000 for 10% equity or $800,000 for 20% equity.
Lastly, Lori Greiner took time to award Souper Cubes with her “Golden Ticket,” meaning it’s the best company she had seen all season. She offered them $400,000 for 5% equity, which is exactly what they asked for. Obviously, Jake and Michelle accepted her offer and Souper Cubes left the tank with a shark on its team.
Now let’s look at our
Since airing on
While we don’t have an exact number for the Souper Cubes’ net worth, with millions of sales per year, the company is worth multiple millions of dollars. With Lori’s help, they’re in Bed, Bath, and Beyond nationwide, as well as Crate + Barrel. They’ve also expanded into markets outside of the United States.
As you can see in our
In the meantime, be sure to check out updates from the other companies that appeared on Season 12 Episode 14 below!
Further, for more Season 12 company updates, be sure to check out our Season 12 products page.