Banana Loca Shark Tank Update| What Happened to Banana Loca after the Shark Tank Pitch?
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What is Banana Loca?
Banana Loca is a simple kitchen device that has a banana holder that securely holds the banana once its ends have been snipped.
The holder next straightens the fruit before scooping out the insides with a second suction tube.
After cleaning and packing the tube with the stuffing of one’s choosing, it may be reinserted into the hollowed-out banana for a delightful snack.
The Banana Loca is marketed for consumers who enjoy stuffing their bananas with a variety of various fillings, including jams, jellies, Nutella, peanut butter, yogurt, or anything with a creamy feel.
Who Founded Banana Loca?
Banana Loca is owned by Bechara Jaoudeh and Renee Heath. Both have backgrounds in digital marketing and have met at several trade exhibitions. They were enthralled by the show’s amusing devices.
They were discussing eating peanut butter and Nutella with bananas one day and thought it would be fun to build a gadget that allowed you to load your bananas with filling.
They got things started in May 2020 with a successful Kickstarter effort that raised $13,958. The product will be delivered in January 2021. They now sell on their website and on Amazon.
It costs $28.99, while a pair costs $55. They provide free delivery throughout the United States. Renee and Bechara both continue to work full-time jobs.
What Happened to Banana Loca at the Shark Tank Pitch?
Renee and Bechara make their Shark Tank debut with a man disguised as a banana. They are seeking $250,000 for a 25% stake in their business. This equates to a $1 million valuation.
Bechara discusses how much he enjoys bananas and Nutella, but it’s a time-consuming procedure. They exhibit the merchandise.
Then they attempt to stuff their samples inside bananas. Mark describes the procedure as “abnormally pleasurable.” The Sharks enjoy the flavour, which Robert describes as “brilliant.”
Renee continues by stating that it can be used on a variety of different meals, including cucumbers, zucchini, and hot dogs.
The sharks were immediately impressed with the product. Renee and Bechara admitted that they had done little promotion, although their sales in the past five months totalled around $134,000. Each Banana Loca was made for $6 and sold for $26.99.
They put their personal $224,000 in the enterprise.
They’re looking for $250,000 to invest in merchandise and paid promotion to boost sales. Mark believes they do not require sponsored promotion.
Kevin is offering $250,000 in exchange for a perpetual royalty of $3 per unit.
Daymond believes it will be used once or twice and then discarded; he is out. Lori believes it is too early and exits.
Robert offers $250,000 plus a $3 royalty every month until he recoups $350,000 at a 10% rate. Mark is curious about their social media presence.
Bechara asserts that they require additional followers and are on the lookout for “star power.”
Mark and Kevin jointly offered $250,000 in exchange for 25% equity and a $3 per unit royalty until the initial investment was repaid.
Bechara responds by charging a $2 royalty. Renee and Bechara accept the offer despite Mark’s refusal.
What Happened to Banana Loca after the Shark Tank Pitch?
While there is no indication that the agreement with Mark and Kevin was completed in early January 2022, the business stated in a press statement that they were “overjoyed” with their new partners.
Additionally, they stated, “keep your eyes ‘peeled’ for our major activity on April 20th, 2022, for National Banana Day.”
Banana Loca Net Worth
Renee and Bechara make their Shark Tank debut with a man disguised as a banana. They are seeking $250,000 for a 25% stake in their business. This equates to a $1 million valuation.
They accepted an offer of $250,000 in exchange for 25% equity and a $3 per unit royalty until the initial investment was repaid thus the same valuation.
Banana Loca Competitors
There are no competitors identified for Banana Loca Competitors.
Banana Loca FAQS
What is Banana Loca?
Banana Loca is a simple kitchen device that has a banana holder that securely holds the banana once its ends have been snipped.
The holder next straightens the fruit before scooping out the insides with a second suction tube.
fter cleaning and packing the tube with the stuffing of one’s choosing, it may be reinserted into the hollowed-out banana for a delightful snack.
Who Founded Banana Loca?
Banana Loca is owned by Bechara Jaoudeh and Renee Heath.
How much were they seeking in the Shark Tank?
They are seeking $250,000 for a 25% stake in their business.
How much were they offered in the Shark Tank?
They accepted an offer of $250,000 in exchange for 25% equity and a $3 per unit royalty until the initial investment was repaid.
How much is Banana Loca?
It costs $26.99 and they provide free delivery throughout the United States.
What episode of Shark Tank was Banana Loca featured?
They were featured on Season 13 Episode 9
Where is Banana Loca located?
Banana Loca, headquartered in King of Prussia, Pennsylvania, is a kitchen device that enables users to inject spreads and toppings such as Nutella, peanut butter, or caramel into bananas for a convenient snack.
How do they pay?
They accept payment via credit card or check.
Is Banana Loca easy to use?
Yes. All they have to do is place the first tube into their banana; the walls of the tube have been snipped, so it will fit snugly.
After filling the first tube, they put it back in their banana. The second tube is then gently pushed into the first to inject more filling.
How did they come up with the idea?
They were discussing eating peanut butter and Nutella with bananas one day and thought it would be fun to build a gadget that allowed them to load their bananas with filling.
What is the Banana Loca Shark Tank worth?
Renee and Bechara seeking $250,000 for a 25% stake in their business. This equates to a $1 million valuation.
Where are Banana Loca sold?
Banana Loca is sold on their website and on Amazon.
How can they contact Banana Loca?
They can contact them at;
Website: www.bananaloca.com or
Email: [email protected]
Do they ship?
Yes. They ship for free throughout the United States
Where is Banana Loca made?
They are made in the United States.
