Have you always wanted to enjoy having dessert without feeling guilty about it? Well, now you can, thanks to SweetKiwi and their range of delicious flavored Greek yogurt that will surely leave your tastebuds asking for just one more scoop!
Michael Akindele and Ehime Eigbe, a husband-wife duo have brought this product t the shark tank, looking for an investment. Will the sharks want a scoop of the company? Let’s find out.
Sweet Kiwi at a Glance:
| Business idea | Whipped Greek Yoghurt with reduced sugar and fats |
| Founder | Michael Akindele and Ehime Eigbe |
| Asked for | $250,000 for 5% |
| Accepted deal | $250,000 for 16% |
| Sharks | Robert Herjavec |
| Business status | In Business |
| Episode | Season 14, Episode 16 |
Index:
Founder Story:
Ehime Eigbe decided to switch to a healthy lifestyle, yet seemed to find it hard to give up on unhealthy desserts, so she came up with her own solution by making frozen yoghurt in her own home, and later honed these skills after attending various courses regarding ice cream manufacturing, and later with the help of her husband Michael Akindele, decided to open her company, SweetKiwi, based around this idea.
Surprisingly, their first promoting event for their product was Ehime’s brother’s wedding in Nigeria, where she was also born. They all loved the product and even helped to set up a brick-and-mortar location in Nigeria, with them even being approached by a large-scale ice cream manufacturer there.
Yet they brought the company back t the U.S., starting with Dallas, Texas, where she currently stays. After a few years of sales, she comes to the Shark tank, looking for an investor among the sharks.
What is SweetKiwi?
Sweetkiwi is a frozen dessert that offers a combination of indulgence and health benefits. It utilizes high-quality, natural ingredients sourced from local family farms to create its whipped Greek yogurts.
In addition to satisfying a sweet tooth, Sweetkiwi’s products are enriched with functional nutrients such as protein, fiber, probiotics, and immune-boosting superfoods, which support a healthy gut.
Did SweetKiwi get a deal on shark tank?
Ehime and her husband Michael introduce themselves to the sharks, asking $250,000 in exchange for 5% equity in their company, SweetKiwi, a healthy alternative to guilt-inducing desserts.
They ask the sharks to try the samples of their product for themselves, and the sharks really seem to like it. Meanwhile, the founder talks about her background and what led her to create this company, expand it in Nigeria, and then use that experience to start a new part of it in the U.S. The sharks are impressed by this , with them all appreciating her for being able to do so.
After some Q&A regarding sales, and retail prices, Kevin decides to put forward an offer according to what he thinks he should invest of $250k, but for 20%. The founders then ask if they can listen to any other offers from the other sharks, but as the other sharks start asking questions, with Daymond and Mark go out as they think that they are not the right sharks for the company.
Lori also goes out, Kevin’s patience wears thin, and in the end, he says that he is out, leaving Robert Herjavec as the only possible investor.
Luckily, Robert is interested as he wants to enter that industry along with a good company, and he thinks SweetKiwi fits the bill, so he puts forward Kevin’s offer of $250k for 20%, but the founders negotiate to go down to 16%, and after some hesitation, Robert agrees.
What happened to SweetKiwi after the Shark Tank?
After appearing on shark tank, the company must have surely experienced the shark tank effect, i.e., the influx of interested customers flocking to their website, maybe even increasing their exposure and sales exponentially.
We’ll see whether the deal with Robert Herjavec will work out and how he will contribute to the growth of this company, surely helping it to dominate in dessert aisles all across the country.
Product details:
- The product is a version of Greek yoghurt that is enhanced with natural fruit and other flavors in order to reduce added sugars and fats.
- Their range of flavors includes cookies and cream, hibiscus & ginger, Vanilla bean, chocolate hazelnut, raspberry, and mango mojito.
- The cost of a pint is about $10, with packs of 4 and 6 of either the same or different flavors is also available.
- The company’s headquarters is located in New Hampshire.
Competitors of SweetKiwi:
Some competitors of SweetKiwi are-
- Dream Delite Yoghurt
- Yoberry
- Kraze Frozen treats
- Endless Swirls
What is the net worth of SweetKiwi?
The net worth of SweetKiwi was $5 million while airing on shark tank, during the pitch, and is now worth around $1.56 million after the deal was done with Robert.
Is SweetKiwi still in business?
Yes, this company is still in business, with around $5 million in annual revenue, and will continue to operate.
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FAQs:
What is SweetKiwi?
Sweetkiwi is a frozen dessert that offers a combination of indulgence and health benefits. It utilizes high-quality, natural ingredients sourced from local family farms to create its whipped Greek yogurts.
What's the net worth of SweetKiwi?
The net worth of SweetKiwi was $5 million while airing on shark tank, during the pitch, and is now worth around $1.56 million after the deal was done with Robert.