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Nui Shark Tank Update

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Nui is a brand and manufacturer of Keto diet biscuits. Nui cookies have low sugar, low carbs, and a delicious taste. Nui cookies have various additions in them; almonds, natural sweeteners, and good fats. Every cookie from Nui is gluten-free, diabetic, and Keto-friendly.

Nui cookies are healthy and delicious and everyone can have them. In the beginning, it was named ‘The Keto Cookies’, and later it was renamed Nui. A pack of Nui has 16 cookies. Nui comes in four different flavors: Peanut Butter, Chocolate Chips, Ginger, and Double Chocolate. Cookies blast differently in the mouth. Nui 20 Cookies (Sugar consumption) = One Traditional Cookie ( Sugar  Consumption).

Nui at a Glance:-

IdeaLow sugar, high fat Keto cookies
FoundersKrishtopher Quiaoit and Victor Macias
Asked For$300,000 For 10%
Accepted Deal$300,000 For 25%
SharksAlex Rodriguez
Business statusOut of Business
Episode No.Season 10, Episode 6

Index:

Who are the founders of Nui?

Kristopher Quiaoit and Victor Macias are the founders of Nui. A few years back, they decided to start gym and dieting. Kris and Victor started a Keto diet. They saw the result and felt fresh and healthier. Quiaoit and Victor love cookies and were not able to have them due to their Keto diet, so they did a lot of research on the market and found nothing.

The duo decided to make one and started doing experiments in Kristopher’s mom’s kitchen to make cookies with various mixtures and food elements and came up with ‘ The Keto Cookies’. With the combination of natural sweeteners, monk fruit, and erythritol, Kristopher and Victor made their business going with the help of two Kickstarter campaigns which raised funds of $21,495 in August 2016 and $79,187 in October 2017.

Did Nui get a deal on the Shark Tank?

Kristopher and Victor arrived at the Shark Tank looking for an investment of $ 300,000 in exchange for a 10% equity. They narrated their story and explained the work along with the benefits of their cookies. After that, they handed out the samples to try and review. All the sharks were impressed with the taste and quality of the cookies. Kristopher shared the Kickstarter campaign and the need for investment from the shark tank platform.

Mark Cuban was the first to share his decision about going out as he had already invested in a similar business and, due to conflicts of interest, he moved out. Lori Greiner was not happy with the valuation pitched so she went out. Kevin O’Leary gave an offer of $300,000 in exchange for a 2.5 % equity along with a $1 royalty per unit which will go down to 45 cents in perpetuity once the invested amount is recovered.

Barbara offered $150,000 in exchange for a 15% equity along with a 50-cent royalty in perpetuity and the remaining $150,000 on a line of credit. Alex Rodriguez gave a tempting offer with no royalties. He gave an offer of $300,000 in exchange for a 25% equity in the business. Kristopher and Victor took a moment for discussion and accepted the offer from Alex Rodriguez and received their check.

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What happened to Nui after Shark Tank?

After the show, the deal made on the show was never closed between Alex Rodriguez and the Nui founders. The same year when the show aired in 2018, it had sales of $1.7 million in 2018- 2019. After the show, Nui cookies enjoyed a bit of success and were able to take their places on Walmart and Amazon platforms successfully. These two platforms, along with their official websites, were quite enough to earn revenue for Nui cookies.

Nui Cookies costs 25 bucks for a pack of 16 cookies. Nui also enhances its product segment with an addition of soft and chewy cookies along with 4 outlines of cookies. They appointed various influencers to promote their products and also added a copacker to fulfill the demands.

During the pitch, they asked for a valuation of $3,000,000. At the end of the episode, the deal was finalized at a valuation of $1,200,000. Nui, before appearing on the show, had sales of $1.1 million, but after the show aired they had sales of $1.7 million.

In 2020, the website of the company seemed down. Founders also stopped adding posts or stories on their social media platforms. As of 2021, both the founders have listed Nui on their business list on LinkedIn but there are no updates related to it, which means they are running out of business as of the year 2022.

Competitors of Nui:-

Competitors are the key factor responsible for making any business grow in or escape from the market. Fellow competitors for Nui are:-

  • Artinci
  • Marin and Ricardo’s Love Grown
  • Ketofy

What is the net worth of Nui?

When Nui came on the show they asked for a valuation of $3,000,000 by the end of the deal it was cut down to less than half of it to $1,200,000. The estimated net worth of Nui was more than $5 million. Unfortunately, they are no more in business which means currently, they have a net worth of zero.

Is Nui still in business?

Nui is no longer in operation as of the year 2020, the founders stopped updating or posting on their social platforms. As of 2021, the website was also down and we’re no longer accepting orders. As of 2022, it is clear that they are out of business but still, Founders have listed Nui on their LinkedIn profile.

Nui Social Links:

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FAQs:

What is Nui?

Nui is a brand and manufacturer of Keto diet biscuits. Nui cookies have low sugar, low carbs, and a delicious taste. Nui cookies have various additions in them; almonds, natural sweeteners, and good fats. Every cookie from Nui is gluten-free, diabetic, and Keto-friendly.

Who founded Nui?

Kristopher Quiaoit and Victor Macias are the founders of Nui. A few years back, they decided to start gym and dieting. Kris and Victor started a Keto diet. They saw the result and felt fresh and healthier. Quiaoit and Victor love cookies and were not able to have them due to their Keto diet, so they did a lot of research on the market and found nothing.

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