When it comes to the tea versus coffee debate, most prefer coffee. Allison DeVane wanted to change the way the world viewed tea. Her Teaspressa shots are thicker and more concentrated than your average cup of tea. Will the sharks understand what the buzz is about on
Shark Tank Teaspressa Update
- Entrepreneur: Allison DeVane
- Business: Concentrated, espresso-inspired tea shots
- Ask: $50,000 for 10% equity
- Result: No deal
- Shark: None
Allison came to
6 packs of 3 flavored sugar cubes to infuse your hot drinks. Flavors included:
Robert Herjavec wanted to know what the business was, so Allison described her plan. She had a patent pending on the process for creating tea shots, which included the teapot she used. Teaspressa was also the exclusive tea provider for one store in Phoneix and had $26,000 in sales in the previous 5 months.
The more that she tried to pitch her business, which she wanted to make the ‘Starbucks of tea’, the more the sharks became confused. Kevin O’Leary wasn’t sure what the product actually is, while Barbara Corcoran thought Allison needed to communicate her ideas more clearly. Barbara and Kevin both went out. Allison is visibly distressed after these comments.
Mark Cuban tells her to take a deep breath. He was concerned that he didn’t know the business part of her business, so he went out. Robert told her that excitement about business is great, but that she lacked focus. He went out, too.
Lori believed that Allison would make it, but that she needed to crawl before she tried to run. She went out, too, leaving Teaspressa with no interested sharks. Where are Allison and her business now? Keep reading our Teaspressa update to find out.
Despite the trouble she received on the show, Allison has taken Teaspressa to the next level. Our Teaspressa update revealed that annual revenue in 2022 is up to $1 million. Her website is constantly updating with new products, including infused sugar cubes.
While the company used to have multiple storefronts, all but one closed down during the pandemic. With this single storefront as well as selling on Amazon and the Teaspressa website, Allison is doing well for herself!
For more information about the other products featured in Season 7 Episode 20, check out our company updates below.
Before you go, be sure to stop by our Season 7 Products Page for even more on companies and products!