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Peanut Butter Pump: What Happened After Shark Tank? [Updated]

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Peanut Butter Pump as the name suggests is a pump that dispenses peanut butter. It makes the kitchen less messy and it is more organized than scraping the jar in order to get the peanut butter out of it. It makes the ‘peanut butter better.’

The pump is made of silicone and plastic. It is designed to fit into most of the peanut butter jars. It is designed in a way that no peanut butter goes to waste.

The peanut butter is dispensed through either the wide surface or stream nozzle. Each nozzle dispenses about 3 teaspoons of butter at a time. Its specialty is that it even works for crunchy peanut butter and it is very easy to clean.

Peanut butter pump at a glance:

  • A pump that dispenses peanut butter.
  • Founder: Andy Scherer
  • Asked For $200,000 for 15% at $1.33million valuation on Shark Tank.
  • Received no deal.

Index:

Who is the Founder of Peanut Butter Pump?

Andy Scherer aka The Nutty Inventor invented the Peanut Butter Pump. Andy worked in the financial service industry for a long time. In 2016, he lost his job.

While making a sandwich he realized that it will be better if there is a pump that will dispense peanut butter since is it very sticky and messy. This is how Andy got an idea behind the peanut butter pump.

Peanut Butter Pump founder
Andy Scherer

How was Peanut Butter Pump Shark Tank Pitch?

Andy appeared in episode 1109 of Shark Tank in 2019. He was seeking $200,000 for 15% equity. The sharks were amused and asked Andy several questions.

After some debate and discussions Daymond John, Lori, and Robert said that the product is not adding any value and it is not solving any problems so they all refused to take the deal further.

Kevin O’Leary was not happy with the valuation so he is out too. Mark Cuban appreciated Andy for being a good sport but he didn’t want to invest either. That’s why Peanut Butter Pump was left without a deal.

How does Peanut Butter Pump make money?

Andy enrolled in the IndieGoGo campaign and he generated $133,790 in 2019. But he did not deliver the products and used some of the money for his personal needs.

The pump costs $25 and does not include shipping and handling charges. The twin pack costs $46. Pack of 5 and pack of 10 cost $110 and $210 respectively.

See also  Boost Oxygen Shark Tank Update

It is available for pre-order on many websites.

What happened after Shark Tank?

Andy had enrolled in the IndieGoGo campaign but as of August 2020, he still had not delivered those orders. The product was in pre-order status when he appeared in Shark Tank and the rest of 2020.

The estimated shipping date was 15 March 2020 but there is still no update on that.

Valuation of the company

Andy generated $133,790 through the IndieGoGo campaign. But the product is in its final stage of production and has not been shipped out yet.

During the Shark Tank pitch, Andy mentioned that the estimated valuation of the company is $1.3 million.

Investors

Peanut Butter Pump failed to bag a deal on Shark Tank. All the investors refused to invest in the company. Before appearing on Shark Tank, Peanut Butter Pump received a lot of positive responses and orders on the IndieGoGo campaign. But, Andy used some of the amounts raised through the campaign for his personal use.

Interesting facts:

  • Andy regularly makes sandwiches for his children. This inspired him into creating a peanut butter pump.
  • After the Shark Tank episode, the peanut butter pump became a viral sensation.
  • When andy introduced the product in front of sharks, the sharks laughed at the idea. Kevin O’Leary called himself a peanut butter connoisseur and he debated whether peanut butter should be refrigerated or not with Andy and other sharks.
  • Peanut Butter Pump does not work with frozen peanut butter and peanut butter with big chunks.

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FAQs:

What is Peanut Butter Pump?

Peanut Butter Pump as the name suggests is a pump that dispenses peanut butter. It makes the kitchen less messy and it is more organized than scraping the jar in order to get the peanut butter out of it. It makes the ‘peanut butter better.’

Who founded Peanut Butter Pump?

Andy Scherer aka The Nutty Inventor invented the Peanut Butter Pump. Andy worked in the financial service industry for a long time.

  1. Ralph EapH

    This is a very interesting article. Please, write more like this!

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