What Happened to Moink After the Shark Tank Pitch?
What is Moink?
Moink is a subscription service that specializes on humanely raised and ethically sourced foods such as wild caught salmon, grass-fed cattle, pastured pig, pastured lamb, and pastured chicken.
Their network of farm meat products is sugar-free, preservative-free, hormone-free, and free of everything else they generally avoid.
They may purchase boxed meat cartons online, personalizing the quantity and type, and having the package delivered directly to their home.
Three, four, or six-week delivery intervals are offered, and FedEx shipping is free throughout the lower 48 states. Each package includes between 12 and 14 pounds of beef and costs $159.
It normally costs roughly $13 per pound – a little pricey, but not unreasonable for such a high-quality product.
Who is the Founder of Moink?
Moink was established by Adam and Lucinda Cramsey, a husband and wife team.
Both were reared on Midwest farms before relocating to the east coast, where Adam worked in engineering and Lucinda developed organic boxing businesses.
They returned to the Midwest after becoming dissatisfied with city life, acquired a farm, and set out to develop organic food and raise organic livestock for slaughter.
Both businesses remain highly active in the sector to this day.
Lucinda Cramsey, an eighth generation family farmer, founded Moink after realizing that independently held family farms were financially collapsing.
Many were unable to feed their families while farming and selling the food that finally found its way into American tables.
Lucinda determined that the moment had come to confront Big Agra and aid independent, family farmers in restoring agricultural market share.
Adam’s craving for a pork chop inspired the company’s concept.
Lucinda was fearful after witnessing how factory farm animals were treated and slaughtered.
“If the pig had been raised outside on lush green grass, as my mother did, I’ll cook you all the pork chops you desire,” she noted.
However, when other like-minded neighbours and organic farmer friends responded and investigated more cost-effective ways to get grass-fed, better, organic beef to market, the concept for box shipment and home delivery occurred to them.
As a result, they developed partnerships with other family-owned farms in the area.
What Happened to Moink After the Shark Tank Pitch?
Lucinda enters Shark Tank Season 10 episode 15 in pursuit of a $250,000 investment in exchange for a 10% ownership in her company. This equates to a $2.5 million valuation.
It is clear that she is committed to her company and family farms.
According to her, four companies control 80 percent of the meat market in the United States of America, making it difficult for small farmers.
Her business revenue went from $85,000 in 2017 to $730,000 in 2018.
While the Sharks like her zeal and story, they object to her razor-thin margins and 10% net profit on sales.
Lori, who eats mostly vegetables and fish, claimed that the company was not a good fit for her and consequently declined to participate.
Daymond claimed that he understood her reluctance to form a partnership in the aftermath of her prior mistreatment. He thought, however, that she was overprotective, and so he departed.
Mark is unable to participate due to his ownership of Echo Valley Meats.
Kevin asserts that he was unable to justify collaborating with the company as a possible investor and hence backed out.
Jamie is fearless in his willingness to work hard and take a chance with Moink.
He believes he can help them improve their margins while simultaneously growing their business.
He makes a $400,000 offer to Lucinda in return for a 20% ownership in the firm. He desires to invest more than her asking price in order to help them scale fast.
Additionally, he aims to develop an infrastructure capable of supporting Moink’s expansion.
Lucinda accepts Jamie’s offer and is ecstatic about the idea of working with him to create Moink.
What Happened to Moink After the Shark Tank Pitch?
Siminoff’s transaction was finalized, and the business is featured in season 11, episode 1107. In the update, Jamie pays a visit to the farm.
Jamie later acquired a farm in her neighbourhood. By June 2021, the business anticipated generating $7.4 million in revenue.
What is the Net Worth of Moink?
Lucinda visits Shark Tank looking to raise $250,000 in return for a 10% interest in her business. This equates to a $2.5 million valuation.
She accepted Jamie’s offer of $400,000 for a 20% ownership, raising the price to $1.25 million.
Who are the Competitors of Moink?
Carnivore Club, Blue Cedar, Beef, Force of Nature, Omaha Steaks, Porter Road, Crowd Cow, and ButcherBox are among Moink’s competitors.
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Moink FAQS
What exactly is Moink?
Moink is a subscription service that specializes on humanely raised and ethically sourced foods such as wild caught salmon, grass-fed cattle, pastured pig, pastured lamb, and pastured chicken.
Who founded Moink?
Adam and Lucinda Cramsey, a husband and wife duo, co-founded Moink.
How much was she asking in the Shark Tank?
Lucinda Cramsey sought $250,000 in return for a 10% share in the business.
Did she get the deal from the Sharks?
She accepted Jamie Siminoff’s offer of $400,000 for a 20% ownership in the business.
What is Moink worth?
Moink’s valuation was increased to $1.25 million following Jamie’s bid.
Is their beef sourced in the United States of America?
Yes. The majority of it is derived from small, family-owned farms in the area.
When will they be charged?
They frequently handle payments on Saturdays prior to an order shipping. In rare situations, it may occur on a Friday night or Sunday morning.
Will they get the same things in every box?
Weekly package contents will vary, ensuring that kids receive something new each time. Remind yourself to check in with them after they make an order to determine what’s in their box and then adjust accordingly.
What’s the deadline for making substitutions?
Friday evening, prior to their cargo being shipped. They’ll send them a reminder email about their order.
Can they make changes after the deadline?
Please accept my apologies, but no. They are unable to make any more alterations once orders are verified and the card is paid.
Where does Moink get their meat?
Their meat is free of sugar, nitrates, nitrites, preservatives, genetically modified organisms (GMOs), saline solutions, and anything else that stinks! Structures and questionable agricultural practices.
They will never again consume fish in this manner. From one of the last surviving independent fishermen in Alaska.
Is Moink still in business?
Since its appearance on Shark Tank, Moink has prospered and is still in business today.
They’ve expanded their facilities to meet demand and added 15 additional farms to their network of over 100 family farmers.
Moink is a product that is accessible in Hawaii.
Because boxes are delivered solely inside the continental United States, residents of Hawaii and Alaska are unable to order.
Does Moink charge for shipping?
Moink Box always ships for free inside the 48 contiguous states.
Is Moink box grass fed?
Moink lamb is entirely grass-fed and finished, which means that the animals live their whole lives on the same farm with the same carers.
Antibiotics, dewormers, and genetically engineered feed are not used on the sheep, and they taste the difference with every delicate bite.
Is Moink ethical?
Because the cattle, hog, poultry, and other meats they sell are hormone- and antibiotic-free, they are healthier and more environmentally friendly than the bulk of meat purchased in supermarkets.
That is not something they see on a farm every day.
Is Moink frozen?
They completely encapsulate everything in dry ice to keep it frozen for three to four days. Even if their shipment is delivered a day or two late, there should be no complications.
Is Moink organic?
Both Moink Box and Moink Box work with a variety of family-owned farms that specialize in organic poultry, heritage breed pigs, and grass-fed cattle.
How do they defrost the meat safely?
Never defrost perishable things on the counter or in hot water, and never longer than two hours at room temperature.
Food may be defrosted safely in three ways: in the refrigerator, under cold running water, or in the microwave.
