What Happened to Coco Taps After Shark Tank?
What is Coco Taps?
Coco Taps is an environmentally conscious enterprise that regenerates and revitalizes ecosystems one coconut at a time.
Coco Taps minimizes the carbon footprint of normal pasteurized and packed coconut water by removing unnecessary cartons, cans, and plastic bottles that can end up in our seas and landfills.
Vincent Zaldivar is the designer and owner of Coco Taps; he came up with the idea for Coco Taps in 2013. Vinny didn’t like coconut water until a friend from an island country showed him how to drink straight from the coconut.
Many people have never had the opportunity to satisfy their thirst with a freshly tapped coconut, much alone enjoy the advantages of coconut water!
Who is the founder of Coco Taps?
Coco Taps is owned and operated by Vincent Zaldivar. Coco Vinny grew up in Las Vegas, where she discovered the electrolyte-boosting benefits of drinking coconut water. When he tried bottled coconut water, he didn’t like it. When a friend exposed him to fresh coconut water straight from the coconut, he became addicted.
The problem was that he couldn’t figure out how to tap into coconuts effectively. He sought treatment after breaking a knife while attempting to open a coconut. That’s when he devised (and patents) the Coco Taps.
The gadget basically drills a hole in a young coconut and then inserts a resalable, screw-top faucet into it. When tapped, the coconut acts as a container for the water stored within; drink it all at once or save it for later.
At his birthplace of Las Vegas, Coco Vinny approached Wynn Resorts and began selling “branded coconuts” in several casino bars. Each branded coconut has a personalized logo burnt into the side and is pre-tapped.
He also offers juice bars a Coco Taps business kit, which allows them to tap and brand their own coconut water. If you want to get your hands on a Coco Tap, you can do so on Amazon for $24.95. Each kit includes the Coco Taps drill and two reusable, resalable taps.
What Happened to Coco Taps at Shark Tank pitch?
In Shark Tank episode 909, Vincent Zaldivar, also known as Coco Vinny, begs the Sharks to invest in his coconut tapping and re-sealing company, Coco Taps. Coco Vinny needs the aid of a Shark to expand inventory and the branded coconut side of the business.
Vinny entered the Shark Tank presentation seeking $150,000 for a 10% stake in his business, worth $1.5 million.
He steps in, escorted by a hula girl and playing the ukulele. He talks about the benefits of coco water and displays his Coco Tapper. A newly tapped coconut, according to him, will live for four weeks.
Sales were $250,000 in 2016, and he anticipated to treble that amount in 2017 (the program was taped in July 2017), with pre-tapped coconuts accounting for 80% of his income and the kits accounting for 20%.
He delivers 5-10 cases to the strip casinos every day. He spends $27 a case, which retails for $45. He claims that he hasn’t sold as many taps because he hasn’t marketed them.
Mark went out because he feels there is too much going on in this sector. Robert was close following.
Barbara stated that the margins were too narrow, but she could get behind the faucet. Unfortunately, she thought it was too early to turn on the water, so she’s out.
Lori believes it’s too specialized for her, so she’s out. Vinny, the final Shark, leaves Rohan, he feels that additional care is required. Vinny ultimately walked away from the pitch without a deal.
What Happened to Coco Taps After Shark Tank?
A year after appearing on Shark Tank, Vinny was featured on The Profit; unfortunately, he did not obtain an investment. The reason for this was because the Coco Vinny patent had been rejected. His goods may be seen at over 60 Las Vegas restaurants and 20 Strip casinos.
Sales in 2018 were $234,000, while sales in 2019 were $300,000. The pandemic had an impact on sales in 2020, but he hopes to recover to pre-pandemic levels in 2021.
As of June 2021, Vegas has begun to more fully open up, and he is still selling coconuts. The kits are still available for purchase on Amazon. The company is still in operation as of January 2022, with $9 million in lifetime sales.
Coco Taps’s Net Worth
The firm’s value was $1.5 million during and after the pitch; nevertheless, the company is still functioning with $9 million lifetime revenues as of 2022, therefore the company’s net worth might have been higher than that of pitch.
Coco Taps FAQs
What exactly is Coco Taps?
Coco Taps is an environmentally conscious enterprise that regenerates and revitalizes ecosystems one coconut at a time.
Who is the originator?
Coco Taps’ designer and owner is Vincent Zaldivar. Vinny didn’t like coconut water until a friend from an island country showed him how to drink straight from the coconut.
How much was Vinny asked on Shark Tank?
During his Shark Tank pitch on episode 909, Vinny asked for $150,000 for a 10% stake in his company.
Did he have the deal?
No, Vinny was unable to close the transaction.
Is Coco Taps still in operation?
Coco Taps is still in business, with a total lifetime sales of $9 million.
Where are Coco Taps manufactured?
Coco Taps are manufactured in Atacama, California, in the United States.
What exactly is the Coco Taps website?
http://www.cocotaps.com is the company’s website.
Is it true that Coco Taps uses coconuts with coconut water inside?
No, they aren’t waterless new-leaf coconuts. As a result, they are known as ‘Un-Drugged’ coconuts.
What kind of coconuts are they using?
They use non-coconut nuts that are not cultivated on coconut palms (Cocos nucifera).
Where can I purchase Coco Taps?
Customers may get coo taps from Amazon.
Who are some of the well-known people who have used Coco Taps?
Vinny confessed that Coco Brad Pitt has been drinking coconut water for 20 years and even advertised it in periodicals. He also claimed that Tom Cruise visits Vegas on a regular basis and enjoys the idea of tapping a fresh young coconut.
What is the price of Coco Taps?
Each coconut costs $27 and the Vinny Coco Tapper equipment costs $20.
How much does a case cost?
A case contains 24 coconuts. The cases are brought to the Las Vegas Strip and priced for $45 apiece. He pays $27 for each case he receives, leaving him with a profit of $18 per case.
What are the health advantages of coconut water?
Coconut water includes electrolytes such as potassium, sodium, and magnesium, as well as carbohydrates, which can help improve energy levels.
Vinny, how long does it take you to drill a coco nut?
Vinny carefully inspects and examines the coconut shell before drilling a hole in it. He then uses a drill to drill two holes approximately half an inch apart for each tap.
He then inserts two reusable screw-top spigots into the holes and presses them down until they are completely seated in the coconut and the taps are secure.
Who is the CEO of Coco Taps?
Vinny is the founder and CEO of Coco Taps.
What exactly is a fresh-coconut?
A fresh coconut is one that has recently been picked.
