Husband and wife team Cody and Emily Williams appeared on "Shark Tank" with an unusual pitch (via YouTube). The couple not only brought an unusual product, but they also had the unusual caveat of having never sold a single unit! What's even more surprising is that despite seeming a little green in the sales arena, the Williamses had actually been fending off advances from "Shark Tank" for more than two years. As explained in a Tig Talks interview (via Tig Brands), they were first invited to apply to the show back in 2018 but felt they weren't ready.
When the couple appeared on "Shark Tank" Season 12 in January 2021, they still had some hiccups in their production process to work through (via All Shark Tank Products). These all-natural, clean ingredient condiments were being manually produced at the time of the show. Most significantly, while they'd had great success with fundraising (they'd raised over $400,000 prior to appearing on "Shark Tank") and even had a pending deal with Thrive Market, the couple had yet to sell a single unit, they were still "pre-revenue" at the time of taping.
The couple requested $200,000 for 10% equity. Instead, they accepted a deal from guest investor Alex "A-Rod" Rodriguez for a $200,000 loan that would convert to 15% equity if the company hit $1.8 million in sales according to Shark Tank Blog.
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September 03, 2022 at 08:42AM
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What Happened To Slice Of Sauce After Shark Tank? - Mashed
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