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Moink Shark Tank Update

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Moink is a subscription service for a box of meat. ‘Moink’ is the combination of  ‘moo’ and ‘ink’ Moink offers self-raised and ethically sourced meat to its customers to build a bridge of healthy relationships. Moink has various options, such as grass-fed beef, wild-caught fish, free-range chicken, pastured pork, and more.

Moink Meat also claims that its meat is free from sugar, nitrates, Gmo grains, saline, and any other additives. They have the best salmon, you can customize your meat as per your choice. Moink Meat is the best and its reviews justify it. They value customers in terms of taste, ethics, and health.

Moink Meat at a Glance:-

IdeaMeat Subscription based service business
FoundersLucinda Cramsey
Asked For$250,000 for 10% equity
Accepted Deal$400,000 For 20% equity
SharksJamie Siminoff
Business statusIn Business
Episode No.Season 10, Episode 15
WebsiteMoink

Index:

Who are the founders of Moink Meat?

Lucinda and Adam Cramsey are the founders of Moink. They used to live in New York City but moved back to the midwest, where they were originally from. Lucinda had decided to give up pork but Adam wanted to raise a fresh range of pork. His inspiration was Lucinda’s mother. They shared their idea and collaborated with their neighboring farmers, who had the same vision.

They all raise their farm animals openly and do not keep them locked up all the time. Their animals can roam freely. They did not like the way big corporations sell meat in the market and hence, decided to go with a subscription system. The Ramseys wanted their vision to come true about all the meat lovers going for the true source of meat and protein, and not the processed ones.

Did Moink Meat get a deal on the Shark Tank?

Lucinda, who is the founder of Moink Meat, came to the shark tank seeking an investment of $250,000 in exchange for 10% equity in the business. Lucinda started her pitch and demonstrated her Moink in front of the sharks. It was visible that Lucinda was passionate about her business. She disclosed her sales figures, which impressed all the sharks.

Lucinda shared they had $85,000 in sales in 2017, which increased directly to 9 times their previous year’s sales by 2018.  Lori Greiner was the first shark to move out as she is a pescatarian. Daymond John said he couldn’t find her a good entrepreneur and went out.

Mark Cuban had already invested in Echo Valley Meats and, due to a conflict of interest, he went out. Jamie supported Lucinda by saying, I think sharks forget their old days. Mark and the other sharks seemed to be pissed off by Jamie’s statement. Jamie then gave an offer of $400,000 in exchange for 20% equity more than Moink pitched for. Lucinda took a moment and made a deal with Jamie and took her signed check.

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What happened to Moink Meats after the Shark Tank Show?

The deal with Simioff closed off and Moink reappeared in season 11. Lucinda decided to expand her business because of the exponential growth that she experienced after appearing on Shark Tank. She added fifteen new farms to her team and now has a little more than 100 farm partners.

During the pitch, the valuation of Moink Meat was $2,500,000 and by the end of the show, Jamie gave an offer of $2,000,000. After the show, they come back again in the shark tank in episode 1107.

 Apart from increasing the sales online, Lucinda wanted to reach more and more grocery stores with the help of Simioff. They ship all over the United States except in Alaska and Hawaii. The biggest and only criticism that they face is the price of their product.

No one argues about the premium quality, but people would like it if they had to pay less than $159, even if it is a small box. Other than that, people seem to love the idea of Moink and want to support it as much as they can. They have various options like surf and turf, creamed spinach, Teriyaki marinade, salt and pepper, and many more delicacies.

Competitors of Moink Meat are:-

  • Carnivore Club.
  • Blue Cedar Beef.
  • Force of Nature.
  • Moink Box.
  • Omaha Steaks.
  • Porter Road.
  • Crowd Cow.
  • ButcherBox.

What is the net worth of Moink Meat?

The valuation of Moink Meat during the show was $2,500,000 and by the end, Jamie valued it at $2,000,000. The estimated net worth of Moink is $7.4 million.

Is Moink Meat still in business?

Moink Meat is still in business. As of 2022, they are doing great in sales and product service. Moink Meat was criticized due to its price factor, but they are still managing to hit sales of $74 million. Bizz Bucket wishes them great success and prosperity.

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FAQs:

What is Moink?

Moink is a subscription service for a box of meat. ‘Moink’ is the combination of sounds that farm animals make, i.e. ‘moo’ and ‘ink’. Moink offers humanely raised and ethically sourced meat to its customers.

Who founded Moink?

Lucinda and Adam Cramsey are the founders of Moink. They used to live in New York City but moved back to the midwest, where they were originally from. Lucinda had decided to give up pork but Adam wanted to raise a fresh range of pork.

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