What Happened to Must Love after the Shark Tank Pitch?
What is Must Love?
Must Love is a plant-based frozen dessert company founded in Los Angeles, California in 2016. It has fantastic flavour profiles that are sweetened with fruit instead of chemicals by combining oats and bananas.
Must Love’s main products are pints of “beautiful cream” and frozen “nice cream” bars.
The pints cost $12 and are available in four flavours: banana, chocolate chip, cashew cookie, and double chocolate chip.
A box of four bars costs $12 and comes in four different flavours: Vanilla Banilla, Chocolate, and Crunchy Peanut Swirl.
In addition to bananas, the products contain oat milk and coconut. While they’ve made significant progress in distribution,
While they’ve made significant progress in distribution.
Who are the Must Love’s Founders?
Mollie Cha and Hannah Hong, Must Love’s founders, are all second-generation Korean-American University of California, Berkeley graduates.
Molly graduated from UC Berkeley with a BA in Business Administration and has worked for Goldman Sachs and the Bill & Melinda Gates Foundation.
In 2013, she left the foundation to obtain an MBA at MIT Sloan School of Management.
Mollie graduated in 2015 and worked at Bolthouse Farms’ Strategy and Innovation department until becoming the Principal of Malibu Design Group in 2018.
Mollie and Hannah started Hakuna Brands in 2016, but it wasn’t until 2019 that Mollie quit from her position at Malibu Design Group to devote her whole attention to her business.
Hannah Hong, on the other hand, graduated from UC Berkeley with a BA in Business Administration and worked as an analyst and associate at Mercer until getting an MBA from UCLA Anderson School of Management in 2011.
Hannah has a strong track record of success, having previously worked as a Senior Associate at PricewaterhouseCoopers Consulting and as an Associate Brand Manager and Brand Strategy Manager at Bolthouse Farms.
Hannah, on the other hand, co-founded Must Love and has been a full-time employee since its inception.
Must Love, according to accounts, developed from a desire for an alternative to frozen dessert options when two ladies discovered they were lactose intolerant.
Friends discovered they could make a wonderful ice cream out of mashed banana, almond milk, and vanilla after experimenting with various dairy-free options.
As a result, after multiple experiments and retries, they ultimately acquired the required flavour and texture.
What Happened to Must Love During the Shark Tank?
Hannah and Mollie went on Shark Tank Season 13 Episode 11 in quest of $600,000 in return for 7.5 percent ownership of their business. This works out to an $8 million valuation.
They begin by showcasing the unsavory ingredients found in traditional ice cream. They then notify the Sharks about their plant-based ice cream and its ingredients. They also have plant-based sprinkles.
Lori is pleased with the Sharks’ taste testing. The other Sharks are in the same boat. The girls talk about their backgrounds and how they both have MBAs. They made $35,000 in sales in 2017.
Year after year, they have more than doubled. So far this year, they had grossed $1 million in sales (they taped in mid-2021).
They expect $1.7 million in revenue for the entire year, but a $400,000 loss.
This is due to the fact that they have spent money on shelf space. They are available at Sprouts and select Whole Foods locations.
They also had a successful test with Costco and made their debut there.
They cost $1.80 to make and cost $5.99 to sell. They each put in $200,000 and secured $1.4 million from friends, family, angels, and institutions at an $8 million valuation; a seed round at the same valuation is also in the works.
Mark asks whether they are willing to make a compromise.
Daymond John was the first shark to leave the game formally. He’s leaving because he didn’t think they realized the advantages a shark might give.
Kevin is departing because he disagrees with their value.
Peter states that he invested in a similar corporation and that when sales expanded, margins shrank, so he left the company and obtained his money back; he’s out.
Mark quit because he didn’t believe the product was distinctive enough.
Lori She was familiar with the location, but a past arrangement she’d made would create a conflict of interest. She is unable to participate owing to a conflict of interest.
As a result, she was fired from the show, and Must Love left Shark Tank without a deal.
What Happened to Must Love Following the Shark Tank Pitch?
Despite the fact that the Sharks did not approve the contract, Must Love is still in operation as of 2022.
What is Must Love’s Net Worth?
They claimed to have donated $200,000 each out of their own wallets, that they were seeking further funds through seed investment, and that the brand was worth $8 million.
What Happened to Chi’Lantro BBQ After Shark Tank?
What Happened to My Wonderful Life after the Shark Tank Pitch?
Who are Must Love’s Competitors?
There are no known competitors for Must Love.
Must Love FAQS
1. What is Must Love?
Must Love is a plant-based frozen dessert company founded in Los Angeles, California in 2016. It has fantastic flavour profiles that are sweetened with fruit instead of chemicals by combining oats and bananas.
2. Who is Must Love’s CEO?
Mollie Cha and Hannah hong, Must Love’s founders, are all second-generation Korean-American UC Berkeley graduates.
3. What makes Must Love’s products so special?
Must Love focuses on quality, flavour, and customer experience. All of the products are made with either bananas or fruits and nuts.
4. Where is Must Love located?
They are headquartered in Los Angeles, California.
5. Where can they find Must Love ice cream?
They can locate them at Sprouts, some Whole Foods locations and Costco.
6. How much were Mollie Cha and Hannah hong seeking in the Tank?
They were seeking $600,000 for a 7.5 percent stake. This works out to an $8 million valuation.
7. What happened to Must Love on the Shark Tank?
The Sharks were not interested in the proposal and felt that it was not a good fit for their portfolio. As a result, they were sent home without a deal.
8. What are Must Love’s products made from?
Not much is disclosed besides oats, bananas, and fruit and nuts.
9. Are they selling on their website?
Yes. They can be found on their website.
10. What is the company’s website?
Their website is must.love
11. How does Must Love costs?
According to their website they sell at $12.
