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Nomiku Shark Tank Update

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Nomiku has invented its concept of sous vide cooking and helps people practice that. Under the method of sous vide cooking, the food is the first vacuum sealed and then immersed in a low-temperature water bath. Nomiku provides a machine that can be used to practice sous vide cooking at home by vacuum sealing the food and then immersing it in strictly controlled water.

The temperature of the water can be set on the machine and timing too and the food is prepared. Many chefs worldwide use the method of sous vide cooking and create delicious dishes and now, with the help of Nomiku, people can create those dishes and many more in the comfort of their homes.

Nomiku at a Glance:-

IdeaExplain in one line
FoundersLisa and Abe Fetterman
Asked For$250,000 for 5% equity
Accepted Deal$250,000 for 8% equity
SharksChris Sacca
Business statusOut of business
Episode No.Season 8, Episode 10
WebsiteNomiku

Index:

Who are the founders of Nomiku?

Lisa and Abe Fetterman are the founders of Nomiku company. It was founded in 2012 and past when they used to live in NY their first company together was called Lower East Kitchen. In 2017 they also started to offer a meal delivery service that used to ship pre-packed and pre-cooked food to their customers.

Did Nomiku get a deal on the Shark Tank Show?

Lisa Fetterman and her husband Abe appeared on Shark Tank in season 8, episode 10, and asked for $250,000 in exchange for 5% equity in the business. They pitched their brand and product and demonstrated its working.

https://www.youtube.com/watch?v=i4ALprp-p6Q

The sharks knew and loved how the sous vide food tasted but Mark Cuban was out because he didn’t know anything about the industry and its competitiveness, Lori Greiner and Robert Herjavec followed suit because they thought the cooking process was time-consuming. Kevin O’Leary and Chris Sacca were interested in Nomiku.

Kevin offered $250,000 for 10% and Chris offered $250,000 for 10% contingent equity but with securing 40% from other investors. The founders were interested in Chris’ offer but countered to change the 10% to 8% and Chris agreed. They left with a deal.

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What happened to Nomiku after the Shark Tank Show?

After the show, like other businesses Nomiku gain huge fame and popularity in the market. Sous vide made simple and Sous Vide at home are the two books written by the founders after the show. Once the show aired, large numbers of people visited their website to experience something new. They had also started selling a Wi-Fi enable machine which will help the users to monitor their food from anywhere.

During the pitch, they came up with a valuation of $5 million which was later brought down by the sharks to $3,125,000. After the show, they took one more step to grow their business by starting their delivery service.

Unfortunately, after a few months, Lisa mailed all her customers that Nomiku is getting closed due to an undisclosed reason. Lisa shared how happy, learning, enjoyable and fruitful was her journey with Nomiku. Lisa hold no regret as she already knew that the business involved a huge risk. She enjoyed her 10 years with Nomiku. She thanks all her potential customers and new users for being part of Nomiku. As of 2022, they are no longer available in the market.

Competitors of Nomiku are:

  • Fresco
  • Innit
  • Chefsteps
  • Annova
  • Sansaire

What is the net worth of Nomiku?

The estimated net worth of Nomiku is $8 million. During the pitch, they came up with a valuation of $5 million which was later updated to $3,125,000.

Is Nomiku still in business?

Nomiku went out of business after serving the market for 10 years. Lisa also shared her whole experience of handling Nomiku and learning from it.

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FAQs:

What is Nomiku?

Nomiku has invented its concept of sous vide cooking and helps people practice that. Under the method of sous vide cooking, the food is the first vacuum sealed and then immersed in a low-temperature water bath.

What's the net worth of Nomiku?

The estimated net worth of Nomiku is $8 million. During the pitch, they came up with a valuation of $5 million which was later updated to $3,125,000.

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