The Kombucha Shop Update | Shark Tank Season 10
Kate Field came into
Shark Tank The Kombucha Shop Update
- Entrepreneurs: Kate Field
- Business: Kombucha tea
- Ask: $350,000 for 10% equity
- Result: $200,000 cash + $150,000 line of credit for 10% equity
- Sharks: Barbara Corcoran and Sara Blakely
Kevin O’Leary was the first shark to make a comment about the company’s asking valuation. He simply couldn’t see himself investing at that valuation, so he ultimately dropped out after hearing about the company’s financial history. Lori Greiner also wasn’t interested, so she dropped out as well.
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Even though the company had more than $3 million in lifetime sales, several of the sharks were worried about making this investment. Since Kate was seeking a strategic partner, she truly wanted someone who respected her business.
After some tough negotiations took place during this pitch for The Kombucha Shop, Sara Blakely and Barbara Corcoran ultimately offered $200,000 dollars in cash in exchange for 10% equity, plus they would offer the company an additional $150,000 dollars as a line of credit. After taking some time to consider the offer, Kate Field decided to accept the offer from Barbara and Sara.
Let’s get a Kombucha Shop update to see whether or not the company was able to grow in the months and years following its debut on
You can find the other company updates from Season 10 Episode 5 here:
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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!