Nowhere Bakery Shark Tank Update

About Maurizio and Saphira Rasti, the founders of Nowhere Bakery

Maurizio and Saphira Rasti are an entrepreneurial couple who turned their personal health struggles into a thriving allergen-friendly baked goods business, Nowhere Bakery, which has seen rapid growth and success.

Maurizio and Saphira Rasti are a husband-wife team who founded Nowhere Bakery in March 2020 with just a $400 investment.

Saphira has a history of food intolerances and digestive issues, while Maurizio has a sweet tooth. This inspired them to create allergy-friendly treats they could both enjoy.

Saphira has over 10 years of experience as a baker and personal chef. She started Nowhere Bakery out of her home kitchen in Costa Mesa, California, delivering treats ordered through social media.

Saphira was determined to create inclusive, high-quality desserts that everyone could enjoy without worrying about food allergies or sacrificing taste.

Nowhere Bakery’s products are dairy-free, egg-free, gluten-free, grain-free and soy-free. They use gut-friendly ingredients like almond butter, cassava flour and coconut sugar.

The company grew quickly, moving to a commercial kitchen. It generated $770,000 in revenue in 2022 with a $32,000 profit.

In 2024, Maurizio and Saphira appeared on Shark Tank seeking $200,000 for 5% equity, valuing the company at $4 million. They ended up striking a deal with Barbara Corcoran for $200,000 for 12.5% equity, adjusting the valuation to $1.6 million.

Nowhere Bakery’s products are currently available in over 50 cafes and specialty grocers in the Southern Pacific region, as well as online nationwide.

Nowhere Bakery from Shark Tank:

Here are the key points about Nowhere Bakery from Shark Tank:

  • Nowhere Bakery is a healthy bakery founded by Saphira and Maurizio Rasti that offers cookies and brownies free from dairy, eggs, gluten, and refined sugar.
  • The company launched in March 2020, just before the COVID-19 pandemic, with a modest $400 investment. Sales grew rapidly, reaching $92,000 in 2020, $524,000 in 2021, and $770,000 in 2022.
  • On Shark Tank, the Rastis sought a $200,000 investment for 5% equity. After a series of offers and counteroffers, they struck a deal with Barbara Corcoran for $200,000 in exchange for 12.5% equity, valuing the company at $1.6 million.
  • After Shark Tank, Nowhere Bakery expanded to 75 stores across the U.S. and moved from Los Angeles to Orange County. Their chocolate chip cookie won a 2022 Selfie Award, and they partnered with Gwyneth Paltrow on a holiday cookie sampler.
  • The company’s products are now available online and in retail stores, with a pack of 6 cookies selling for $36 and 12 for $68. Nowhere Bakery has received great reviews and recommendations, helping it reach a wider audience.

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