Looking to crack open some fresh coconuts without making a mess? Meet Coco Jack, the innovative coconut opening tool that impressed the sharks on Shark Tank.
Coco Jack is the safest and easiest method or resource to cut hard coconut with a few hits of a hammer, to enjoy fresh coconut water, basically known as a coconut opener.
Coco Jack also has a special scoop that is used to remove the whole coconut meat in one scoop. Anyone can cut the coconut without any use of a sharp knife, fear of having cut, or any difficult technique.
Coco Jack at a glance:
| BUSINESS | Easy and safe coconut Opener |
| ENTREPRENEUR | Dave Goodman |
| ASKED FOR | $125,000 For 10% |
| ACCEPTED OFFER | $125,000 For 25% |
| SHARK | Mark Cuban |
| BUSINESS STATUS | Out Of Business |
Index:
Who is the founder of Coco Jack?
Dave Goodman is the founder of Coco Jack, a coconut opener with a hammer and handle, which is used to whack the coconut. In 2012, he made the vision of Coco Jack. He was an orchestra conductor. Dave was quite obsessed to make a perfect opener.
In 2013, he also ran an IndieGoGo campaign in which he raised $5,775 which helps him to validate his idea and product.
He also had posted a few of the methods to whack coconut to which finally a product named Coco Jack came into the market, new innovation with a smile and completely useful.
How was the Coco Jack Shark Tank pitch?
Dave entered the Shark Tank in Season 6 Episode 29 seeking $ 125k for 15% shares in his business. He gave a few live samples to open it up.
Robert and Mark gave it a try and were successful to do it. He explained the use of a scoop, which really impressed Robert. Kevin O’Leary quite inquired about the product and asked him to give it to Barbara. Barbara didn’t find Dave completely organized so she went out.
Lori thought that the product and Dave will do good in the future but she went out. Even though Robert was very impressed, he didn’t offer any deal.
Kevin O’Leary likes coconut so he offered $125k for 50% of the share which was very high compared to his pitch, Mark also gave an offer of $125k for 25% with a 7% interest rate. Dave tried to encounter him up to 20% but Mark didn’t respond in his favor but Dave made a deal as he didn’t have any choice in return of investment.
What happened to Coco Jack after Shark Tank?
Dave revealed that it takes around $26 to manufacture one unit of Coco Jack in the United States. Before appearing on Shark Tank, Coco Jack made $325,000 in just nine months since its initiation.
After the Shark Tank show, Coco Jack gained huge popularity in the market. Consumers can buy the mallet or hammer with a handle for a lower price as compared to earlier.
Dave has a huge online market of his product on Amazon and many local markets, which creates revenue for the company, as manufacturing cost per unit takes $26 and is sold for some additional profits.
Two new tools have been added to the bucket which has increased the consumer numbers. Mark was happy as he did the right investment with the right person in the right business. As of 2021, its website has not been updated but it is available on the online platform.
Even after the success that the business has achieved thus far, no valuation has been revealed yet by any of the investors and will soon be updated.
Competitors analysis of Coco Jack:
Even after so many ups and downs, Coco Jack didn’t go down. As of 2021, its website has gone down but it’s available on Amazon. Few competitors in the market which may affect its existence are:-
- Stainless steel coconut remover.
- MDT India steel Plated Iron. And other techniques
What is the net worth of Coco Jack?
Coco Jack is still running and that too successfully. Mark’s investment in this business has been proven to be one of the most successful. Though revenue about the present times has not been revealed, it is safe to say that the business is doing great, looking into their recent modifications in their website and product.
At the time of the shark tank appearance, Coco Jack was valued at around $500,000.
Interesting facts:
A few interesting facts about it are:-
- The easiest way to whack coconut.
- It also has a scoop that can remove coconut meat very smoothly.
- Any individual can do it, with any strength level.
- It is available online also for consumers from different nations.
- It has also gained popularity from Shark Tank Show.
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What is Coco Jack?
Coco Jack is the safest and easiest method or resource to cut hard coconut with a few hits of a hammer, to enjoy fresh coconut water, basically known as a coconut opener.
Who founded Coco Jack?
Dave Goodman is the founder of Coco Jack, a coconut opener with a hammer and handle, which is used to whack the coconut.