Cave Shake Shark Tank Net Worth 2023
Cave Shake is a dairy-free, gluten-free, and carbohydrate-free coconut milk-based shake that can be used as a snack or as a nutritionally significant meal replacement shake. The company appeared on Shark Tank in Season 10, Episode 4, where they asked for $250,000 in exchange for 10% equity, which they valued at $2.5 million.
Charles Barkley was the only Shark who made an offer of $250,000 for 20% equity. The investment by Charles Barkley pegged the company’s valuation at $1.25 million.
As of 2022, Cave Shake’s net worth is $10 million. The sales of the company increased by up to $3 million after Billie Cavallaro and Holly Heath got into a Shark Tank deal with Mr. Barkley in 2022.
The company has rebranded as Space Shake and has built a thriving business that will reach $3 million in revenue as of 2022. They have a growing social media fan base with over 18,000 Instagram followers and more than 2,600 Facebook likes.
What is Cave Shake?
Cave Shake is a beverage made from coconut milk that requires no preparation and comes in three flavors: vanilla, chocolate, and coffee. It is an ideal snack or meal replacement for those on a keto or paleo diet, as it is free of dairy, gluten, and low in carbohydrates.
Holly Heath and Billie Cavallaro, two long-time friends from Los Angeles, are the founders of Cave Shake. They decided to add their unique twist to the popular keto diet, which led to the creation of sweet smoothies that could satisfy cravings without containing dairy, sugar, carbs, or gluten.
Cave Shake has set a new standard in the market by providing a ready-to-drink keto shake as a meal replacement option for people following a paleo or keto diet.
Who is the founder of Cave Shake?
Holly Heath and Billie Cavallaro, both hailing from Los Angeles, founded Cave Shake in response to the growing popularity of the keto diet. This diet involves consuming high amounts of fat while minimizing carbohydrate intake, which induces the body to enter a state of ketosis. In this state, the body burns stored fats for energy when glucose is not available.
Cave Shake is a vegan, paleo, gluten-free, grain-free, and dairy-free dessert shake made from organic coconut milk and enriched with Medium Chain Triglycerides (MCTs), a type of fat that is essential for maintaining optimal health and energy levels.
These shakes are available in three flavors, namely chocolate, vanilla, and coffee, and taste similar to melting ice cream.
A single serving of Cave Shake contains 320 calories, 32 grams of predominantly saturated fat, 6 to 7 grams of carbohydrates, and 2 to 3 grams of protein. These shakes can be used as a meal substitute for individuals following the keto diet.
However, Cave Shake is not cheap, with a nine-pack costing $71.91, equivalent to $8 per bottle. Nonetheless, customer reviews suggest that the taste is worth the price.
These shakes can be purchased online, on Amazon, and at Whole Foods Locations throughout southern California and dozens of other markets across the state.
What Happened to Cave Shake at Shark Tank pitch?
Holly Heath and Billie decided to present their product to the investors of the popular TV show Shark Tank to help with the expansion of their product’s distribution.
During their appearance on the show, they proposed a deal to the investors seeking $250,000 in exchange for a 10% stake in their company, which they valued at $2.5 million.
To make their pitch stand out, Holly and Billie performed a song and skit before handing out samples of their product.
During the tasting, Robert pointed out that the product tasted unusual because of the addition of Stevia. Holly and Billie then went on to explain the science behind ketosis before delving into their company’s financials.
They revealed that each container of their product cost $1.86 to create and $7.99 to sell. At the time of their pitch, the product was only available in specialized food stores in Southern California.
They had generated $270,000 in sales in 2017 and $182,000 in sales in 2018. In addition, they had given 15% ownership of their company to LA Libations, a beverage industry incubator.
Kevin O’Leary inquired about the royalty provision that the incubator had, and Billie explained that it was a percentage on sales over $10,000. Kevin did not like this arrangement and quit. Robert Herjavec did not like the flavor of the product and found the branding confusing, causing him to opt-out.
Mark Cuban believed that it would require too much work and also quit. Finally, Lori Greiner also quit, leaving Charles Barkley as the only investor interested in making an offer.
Charles offered $250,000 for a 20% stake in the company, but Holly and Billie tried to negotiate for a lower stake. However, Charles would not budge, and they eventually accepted his offer, closing the deal and leaving the show with a partnership.
What Happened to Cave Shake after Shark Tank?
After finalizing the deal with Charles, Cave Shake achieved success on Shark Tank and changed its name to Space Shake. The popularity of the Keto diet surged in California after the product’s appearance on the show.
The proprietors are collaborating with LA Libations, their partner, to expand beyond Southern California and establish a growing infrastructure.
While Cave Shake is currently only available in Southern California, it can be shipped worldwide via Amazon. In 2017, the product generated $270,000 in sales, with year-over-year sales of $182,000.
As of June 2021, Cave Shake can be found in 87 Whole Foods stores across California, six in Hawaii, and 25 others throughout the country. Additionally, the product is available on Amazon, and the company’s annual revenue is $3 million. The product is now accessible for purchase on Amazon.
Who are the Competitors of Cave Shake?
The leading competitor for Cave Shake is Halo Top.
Net Worth of Cave Shake
The firm was valued at $2.5 million during the pitch, after the investment done by Charles Barkley the company was valued at $1.25 million. In 2021 the company generates annual revenue of $3 million. This shows that the company net worth has elevated.
Cave Shake FAQs
What is Cave Shake?
Cave Shake is a ready-to-drink coconut milk shake that is dairy-free, gluten-free, and low in carbohydrates. It’s the ideal keto or paleo snack (or meal substitute).
Who invented Cave Shake?
Holly Heath and Billie Cavallaro of Los Angeles are the creators of Cave Shake. Holly and Billie, long-time friends, decided to put their own spin on Keto diets, and here is how it all started.
How much were asking on Shark Tank?
They were seeking for $250,000 for a 10% stake in their company, which is valued at $2.5 million.
Did they get an offer?
Yes, Charles Barkley offers them $250,000 for 20% ownership of the company.
Is Cave Shake still in business?
It is still in business since the famous episode where they got a deal.
How much does a shake cost?
The product costs $71.91 for a 9-pack, which works out to $8 per bottle. On Amazon, the product sells for $5.
Where does Cave Shake ship?
Cave Shake is sold on Amazon, so customers can purchase them from anywhere in the world. They can also purchase Cave Shake from Whole Foods and from local health stores that carry it in their region.
How much is Cave Shake revenue?
In 2021 the company generates annual revenue of $3 million.
Did cave shake make money?
Though the product is presently only accessible in Southern California, Cave Shake is sold on Amazon, where it can be shipped anywhere in the globe. In 2017, the duo’s product earned them $270,000, with year-to-year sales of $182,000.
How do I buy Cave Shake?
The product is sold on Amazon, where it can be shipped anywhere in the globe. It is also sold at Whole Foods and local health stores in their region.
What does Cave Shake taste like?
Cave Shake tastes like melting ice cream and comes in three flavors (chocolate, vanilla, and coffee). It contains 320 calories, 32 grams of primarily saturated fat, 6 to 7 grams of carbohydrates, and 2 to 3 grams of protein. The shakes are available in nine packs for $71.
Can I pay Cave Shake using PayPal?
Yes, you can pay using PayPal.
How do I contact Cave Shake?
Cave Shake can be reached through its website www.eatspaceshake.com
Is Cave Shake easy to find?
Yes, Cave Shake is pretty easy to find since they have a large market share within Southern California.
What is the net worth of Holly Heath?
Holly Heath is the founder of Cave Shake. She has a net worth of $900,000.
What is the net worth of Billie Cavallaro?
Billie Cavallaro net worth is unknown.