Nowhere Bakery Shark Tank Update

Nowhere Bakery Shark Tank Update

Nowhere Bakery’s Shark Tank Deal and Net Worth in 2024

Maurizio and Saphira Rasti, the founders of Nowhere Bakery, appeared on Shark Tank Season 15 in 2024 seeking $200,000 for a 5% equity stake in their company, valuing it at $4 million. They later struck a deal with Barbara Corcoran for $200,000 in exchange for 12.5% equity, adjusting the company’s valuation to $1.6 million.

Nowhere Bakery is a healthy bakery specializing in allergen-friendly cookies and brownies made without dairy, eggs, gluten, soy, refined sugar, or sugar alcohols. The products are also paleo-friendly.

The company was launched in March 2020, just two weeks before the COVID-19 pandemic began, with a mere $400 investment. Despite the challenging circumstances, Nowhere Bakery has seen impressive growth, generating $92,000 in sales in 2020, $524,000 in 2021, $770,000 in 2022, and projecting $1 million in 2023.

During their Shark Tank pitch, the Rastis impressed the investors with the taste and quality of their products. Barbara Corcoran and Kevin O’Leary were particularly enthusiastic, with Corcoran stating, “This tastes like a real cookie,” and O’Leary admitting, “I congratulate you. We’ve had so many plant-based cookie deals and they all taste like s—.”

O’Leary initially proposed a deal with a co-packer contingency to increase profits, but the Rastis preferred maintaining control over the quality of their treats. Corcoran, on the other hand, encouraged the couple to stick to their plan and offered them $100,000 in cash and $100,000 as a line of credit for 15% of Nowhere.

In the end, the Rastis asked Corcoran if she would accept $200,000 for 12.5% of the company, and she agreed, valuing Nowhere Bakery at $1.6 million.

As of July 2024, Nowhere Bakery is still in business, with products available on their website and Amazon. They also have a store locator on their site to help customers find their products locally.

Nowhere Bakery, founded by Maurizio and Saphira Rasti, made an appearance on Shark Tank Season 15 Episode 18 $200,000 for a 5% equity stake in their company (at $4M valuation) they showcased their healthy desserts that are free from dairy, gluten, grains, refined sugar, soy, corn, eggs, and seed oils.

A Nowhere Bakery has continued to thrive in the food and beverage industry, experiencing remarkable success since their appearance on Shark Tank.

Key Takeaways:

Nowhere Bakery, founded by Maurizio and Saphira Rasti, appeared on Shark Tank Season 15 Episode 18.

  • They offer healthy desserts that are free from various allergens and harmful ingredients.
  • The outcome of their pitch on Shark Tank remains unknown.
  • Nowhere Bakery has seen significant success and continues to operate and expand its business.
  • The company is estimated to have a net worth of $1.6 million.

Nowhere Bakery Shark Tank Update

What Is Nowhere Bakery and Who Are the Founders?

Nowhere Bakery is a food and beverage company that specializes in producing desserts made with healthy ingredients. Their products include chocolate chip cookies, candy bar cookies, brownies, and sugar cookie baking mix.

Maurizio and Saphira Rasti, the founders of Nowhere Bakery, started the company in 2020.

Saphira, a holistic nutrition counselor, teamed up with her husband to create desserts that were compatible with her diet. Their focus is on offering desserts that are both healthy and delicious.

Nowhere Bakery’s Success and Business Status

Nowhere Bakery, a thriving food and beverage company, has seen remarkable success since its establishment in 2020. With an estimated net worth of $1.6 million, the company has grown rapidly and continues to expand its operations in the industry.

Although specific funding details are undisclosed, Nowhere Bakery remains in business and is dedicated to building a prosperous future. The company’s products are currently available in over 70 independent retail stores across the nation, gaining popularity and customer loyalty.

Nowhere Bakery’s annual revenue shows a consistent growth trend, with estimations indicating year-over-year increases. By focusing on producing healthy and delicious desserts, the founders, Maurizio and Saphira Rasti, have captured the attention of health-conscious consumers.

Nowhere Bakery Shark Tank Update

Situated in Orange County, California, Nowhere Bakery operates from its headquarters and employs a staff of two.

As they continue to take the bakery industry by storm, Nowhere Bakery remains at the forefront of delivering exceptional treats to satisfy the cravings of dessert lovers.

Aspect Details
Company Name Nowhere Bakery
Founder(s) Maurizio Rasti and Saphira Rasti
Founded 2020
Product Healthy desserts
Asked For $200k for 4% equity (Shark Tank)
Final Deal $200,000 for 12.5% of the company
Shark Barbara Corcoran
Episode (Shark Tank) Season 15 Episode 18
Air Date March 15th, 2024
Business Status In Business
Website Visit Website
Headquarters Orange County, California, USA
Lifetime Worth (Sales) $1M *estimated
Products Chocolate Chip Cookies, Candy Bar Cookies, Brownles, Sugar Cookie Baking Mix
Product Cost $16-$36
Retail Stores 70+ nationwide
Founders’ Background Saphira: Holistic Nutrition Counselor<br>Maurizio: Business, Management, and Marketing
Net Worth $1.6 million
Current Status Still in business as of March 2024
Employees 2
Target Goals Expansion to Bigbox stores nationwide
Deal Outcome TBD (Shark Tank)

Nowhere Bakery Current Net worth

Nowhere Bakery’s current net worth is estimated to be $1.6 million.

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