Entrepreneur Kate Field, pitched her fermented tea company, during
If you’re short on time, here’s a quick overview of what happened to The Kombucha Shop after
Kate Field appeared on
|Barbara Corcoran & Lori Greiner
|$200,000 for 10% equity, plus $150,000 line of credit
Shark Tank The Kombucha Shop Update
- Entrepreneurs: Kate Field
- Business: Kombucha tea
- Ask: $350,000 for 10% equity
- Result: $200,000 for 10% equity, plus $150,000 line of credit
- Sharks: Barbara Corcoran and Sara Blakely
Founder of The Kombucha Stop, Kate Field, began her pitch with a big jar scoby. The sharks all looked pretty disgusted by the sight of it, but their curiosity was peaked when Kate eventually revealed that it was the base of the popular drink, kombucha.
This kit has everything you need to start brewing your own kombucha at home. Our best in the industry kombucha cultures, equipment, and instruction will turn you into a kombucha-brewing rockstar in no time.
However, Barbara Corcoran was still very reluctant. She even exclaimed that the scoby looked like a kidney!
Kombucha is a fizzy, fermented tea, that’s filled with probiotics, and low in sugar. However, buying it in the store can get extremely expensive.
That’s where The Kombucha Shop comes in. Kate has basically taken an intimidating process of brewing kombucha, and created kits that ultimately simplify the process.
Back to cost, purchasing a bottle of kombucha in the store can range from $3-$5. However, brewing it at home with one of Kate’s kit, costs as little as $0.25 a bottle!
Further, Kate’s lifetime sales, at the time of filming, were a remarkable $3.2 million. She was also on track to do between $1.6 and $1.7 million.
Kate passes out samples, but Barbara’s not too sure. Several of the sharks ultimately crack jokes about the taste, but then Barbara actually begins to come around to it.
The sharks eventually want to know more about Kate’s business model, and plan. Perhaps most surprising, is that fact that she started the company with only $800.
Guest shark Sara Blakely, founder of Spanx, asks Kate what she needs an investment for. Kate says that it’s basically to bring in a strategic partner, and also to help her scale.
Further, she wants to get her product into Whole Foods. Kevin O’Leary doesn’t agree with this plan. Despite this, he offers her $350,000 for 20% equity.
Lori Greiner on the other hand isn’t a kombucha fan. So for this reason, she is out.
Just then, it seemed that Sara was about to drop out, but Barbara Corcoran quickly suggested that they actually go in on a deal. Soon after, they offered $200,000 for 10% equity, with an additional $150,000 as a line of credit.
Then, as Mark was about to speak, Kate quickly swooped up with deal from Sara and Barbara. Now that she has two sharks on her side, let’s see what happened following
We have good news to share in The Kombucha Shop update. Although it appears that the deal with Barbara and Sara was never finalized on paper, the company has still done great!
The good news is that the free publicity from appearing on
Products for The Kombucha Shop can be found on their website, and also on Amazon.
On average, the company does about $2 million in yearly revenue. So this is great news overall for The Kombucha Shop.
If we learn anything new about The Kombucha Shop, we will certainly let you know! In the meantime, you can check out our other company updates from Season 10 Episode 5, by following the links below!
For even more on companies and products, be sure to stop by our Season 10 products page before you go!
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!