Coco Taps Shark Tank Net Worth 2023
Coco Vinny entered Shark Tank seeking $150,000 for 10% of his business. His company valuation was $1.5 million during and after the pitch. As of January 2022, the company is still in business with $9 million in lifetime sales.
According to geeksaroundglobe.com, Coco Taps’s founder Vinny Zaldivar has a net worth of 1.5 Million USD as of 2022.
Coco Taps is a company that produces eco-friendly products while regenerating and revitalizing ecosystems one coconut at a time.
The company cuts the carbon footprint of traditional pasteurized and packaged coconut water by eliminating wasteful cartons, cans, and plastic bottles that can end up in our oceans and landfills.
Coco Taps was founded by Vincent Zaldivar, aka Coco Vinny, who grew up in Las Vegas and heard about the benefits of drinking coconut water to boost electrolytes. He created a product called Coco Taps, which is a coconut tapping and re-sealing tool.
What are Coco Taps? Who is the founder of Coco Taps?
Coco Taps is a company that focuses on eco-friendliness and promotes the regeneration and revitalization of ecosystems.
They do this by eliminating wasteful cartons, cans, and plastic bottles, which can end up in oceans and landfills. Coco Taps reduces the carbon footprint of pasteurized and packaged coconut water, one coconut at a time.
Vincent Zaldivar, the founder, and proprietor of Coco Taps, came up with the idea for the company in 2013.
Although he was not initially a fan of coconut water, he became interested in it after a friend from an island country introduced him to the practice of drinking directly from a coconut.
Many people have never had the opportunity to experience the benefits of freshly tapped coconut water, but Coco Taps offers a solution.
The company uses a patented device, the Coco Taps, which drills a hole in a young coconut and inserts a resealable, screw-top spigot. The coconut then acts as a receptacle for the water inside, which can be consumed all at once or saved for later.
Coco Vinny, as he is commonly known, grew up in Las Vegas and learned about the electrolyte-boosting benefits of drinking coconut water.
He didn’t enjoy bottled coconut water, and he struggled to find an effective way to tap into coconuts. After breaking a knife while trying to open a coconut, he invented the Coco Taps.
Coco Vinny began selling “branded coconuts” in various casino bars in his hometown, and he also offers a Coco Taps business kit to juice bars so that they can tap and brand their own coconut water.
Anyone can purchase a Coco Tap for $24.95 on Amazon, which includes the drill and two reusable, resealable taps.
Coco Taps at Shark Tank Pitch
During episode 909 of the TV show Shark Tank, Vincent Zaldivar (also known as Coco Vinny) presented his product Coco Taps, which is used to tap and reseal coconuts.
He was seeking a $150,000 investment in exchange for a 10% ownership stake in his company, which was valued at $1.5 million.
Vinny explained that he needed help from the Sharks to increase his inventory and improve the branding of his coconut products.
He arrived at the pitch accompanied by a hula girl and played the ukulele, and he demonstrated the benefits of coconut water and the Coco Tapper tool he had developed. He claimed that coconuts tapped with his product could survive for up to four weeks.
Vinny had made $250,000 in sales in 2016, and he expected to quadruple that amount in 2017, with most of his income coming from selling pre-tapped coconuts to Las Vegas Strip establishments. However, he had not yet advertised his product widely.
Although some Sharks were interested in the product, ultimately none of them invested. Barbara liked the faucet component of the product but felt it was too early to invest, while Lori and Mark thought the product was too niche. Robert also decided not to invest.
Vinny later appeared on the show The Profit, but his patent had been denied, and he did not receive an investment.
However, he continued to sell his product in over 60 Las Vegas restaurants and 20 Strip casinos, and in 2022, his company had achieved $9 million in lifetime sales, despite being impacted by the pandemic in 2020.
The product is still available for purchase on Amazon, and Vinny aims to return to pre-pandemic sales levels in 2021 as Las Vegas reopens.
Net Worth of Coco Taps
The company valuation was $1.5 million during and after the pitch, since then the company is still operating with $9 million in lifetime sales as of 2022, and hence the company’s net worth has gone up.
Coco Taps Shark Tank Updates
CocoTaps is a company that appeared on Shark Tank Season 9. The company’s product is a coconut opener that includes resealable patent-pending taps so that customers can save their coconut water for later.
The company also has a separate coconut beverage line that sells to resorts in Las Vegas. About 80% of the company’s sales are generated from these pre-made beverages, while the other 20% is made from the coconut opener.
During the Shark Tank episode, Vincent Zaldivar, the founder of CocoTaps, asked for $150,000 for 10% equity, but he did not receive a deal.
After the Shark Tank episode, CocoTaps faced challenges during the COVID-19 pandemic when Las Vegas resorts had to temporarily close to deal with the effects of the virus However, the company is nearing the $10 million threshold in lifetime sales during the year 2022.
In addition to the Shark Tank appearance, CocoTaps was also featured on the CNBC reality series “The Profit”. Host Marcus Lemonis visited CocoTaps headquarters in Las Vegas and was impressed by the purity and freshness of sipping water from a just-tapped coconut.
CocoTaps is a certified TRUE Zero Waste production facility in Las Vegas. They divert 90% of their packaging and office waste from landfills.
The taps and caps are made out of 100% ocean-safe, home-compostable corn maize material, making enjoying a coconut with CocoTaps a zero-waste beverage experience. As of June 2021, CocoTaps is still selling coconuts, and the kits are still available on Amazon.
Coco Taps Shark Tank Table Summary:
|Vincent Zaldivar (Coco Vinny)
|Coconut tapping and re-sealing tool
|Reducing carbon footprint of pasteurized and packaged coconut water
|Shark Tank Pitch
|$150,000 for 10% at $1.5 million valuation
|Shark Tank Result
|Lifetime Sales (as of 2022)
|Net Worth (as of 2022)
|Shark Tank Appearance
|Season 9, episode 909
|None received from Sharks or The Profit
|Still available for purchase on Amazon
Coco Taps FAQs
What Is Coco Taps And How Are It Used?
Coco Taps is a company that provides an eco-friendly way to enjoy fresh coconut water while reducing waste. The company’s mission is to regenerate and revitalize ecosystems one coconut at a time.
Coco Taps provides a resealable coconut beverage system that eliminates wasteful cartons, cans, and plastic bottles that can end up in oceans and landfills. The company’s taps and caps are made out of 100% ocean-safe, home-compostable corn maize material, making it a zero-waste beverage experience.
Coco Taps offers a tool kit that includes a coconut tapper, a coconut drill, and a coconut tap. The tool kit is easy to use – twist the drill into the coconut with minimal pressure, insert the green Coco Tap, and screw it into the hole. Insert a straw or drink right from the tap for no-spill enjoyment.
Coco Taps also encourages the reuse and recycling of used tapped coconuts to reduce the waste stream to landfills. The company launched a Tap Back Rewards program to encourage the return of coconuts and plastic taps for reuse. The program will cut waste costs for Coco Taps customers by decreasing the amount of material they send to landfills. Coco Taps customers will receive a credit for each returned tapped coconut.
Coco Taps is committed to becoming a regenerative business that gives more than it takes from the planet. The company’s facility is a certified TRUE Zero Waste production facility in Las Vegas, and it diverts 90% of its packaging and office waste from landfills. Coco Taps created a proprietary system to brand tap and ship coconuts using all the materials in the supply chain and is focused on finding new ways to repurpose, reuse, and invent systems that eliminate any and all waste.
What Happened To Coco Taps After Shark Tank?
Coco Taps is a company that sells tools that allow users to tap into coconuts at home, as well as ready-to-drink coconuts that have already been tapped and branded.
The company appeared on Shark Tank in 2017 but failed to secure funding from investors on the show. However, the company did receive a silver lining from the experience.
After Shark Tank, Coco Taps was featured on the CNBC reality series “The Profit”. Host Marcus Lemonis visited Coco Taps headquarters in Las Vegas and was impressed by the purity and freshness of sipping water from a just-tapped coconut.
Coco Taps has hit roadblocks, but it is still in business and has found success. The company’s focus on sustainability has helped it to stand out in the market. In 2018, Coco Taps became the first venture in Las Vegas to receive a zero-waste certification.
The company distributes its products to local resorts, convenience stores, and restaurants. The company’s coconut water can last for weeks with Coco Taps, and the company itself has lasted for several years. Coco Taps is still selling coconuts and its kits are available on Amazon.
The company is almost finished with its licensing and inspections with the Southern Nevada Health Department.
How Did Coco Taps Recover After Failing To Secure Funding On Shark Tank?
Coco Taps is a company that sells tools that allow users to tap into coconuts at home, as well as ready-to-drink coconuts that have already been tapped and branded. The founder of Coco Taps, Vincent Zaldivar, appeared on Shark Tank in 2017 seeking $150,000 for 10% equity in his business. However, the sharks did not invest in his business, believing his business plan was too complicated.
Despite the setback, Coco Taps has found success. The company’s coconuts can be found in more than 60 restaurants and about 20 resorts on the Las Vegas Strip, including the Wynn Las Vegas and The Cosmopolitan of Las Vegas.
After earning about $234,000 in revenue after its first year and more than $300,000 the next year, Zaldivar expects the company to make more than $500,000 this year.
Coco Taps has hit roadblocks, but Zaldivar is in the process of legally changing his name to CocoVinny and is almost finished with licensing and inspections.
After appearing on Shark Tank, Zaldivar, and Coco Taps were featured on the CNBC reality series “The Profit”. Host Marcus Lemonis visited Coco Taps headquarters in Las Vegas and was impressed by the purity and freshness of sipping water from a just-tapped coconut.
What Is The Current Valuation And Status Of Coco Taps?
Coco Taps is a company that produces a tool to easily drink coconut water straight from the source. The company also offers a resealable tap that can be added to the coconut so the liquid can last for up to three months in a refrigerator.
Coco Taps is a certified TRUE Zero Waste production facility in Las Vegas, and their taps and caps are made out of 100% ocean-safe, home-compostable corn maize material, making it a zero-waste beverage experience.
The company’s mission is to provide eco-friendly products while regenerating and revitalizing ecosystems one coconut at a time.
Coco Taps has received funding from investors, but the current valuation is not available. In 2017, Coco Taps appeared on ABC’s Shark Tank and received an investment from Marcus Lemonis.
As of 2021, Coco Taps is still in business, with a total lifetime sales of $9 million and sales of about $325,000 in 9 months.
The company has also developed its own software and hardware technology solutions that will turn any coconut into a custom-branded tapped coconut cocktail by adding rum or any spirit fresh in real-time for the consumer.
Where Can I Buy Coco Taps Products
Coco Taps is a company that provides eco-friendly products while regenerating and revitalizing ecosystems one coconut at a time.
They offer a unique beverage experience by providing tapped and capped fresh coconuts that are sold in Whole Foods Market stores in Arizona, Southern California, and Southern Nevada.
Coco Taps’ taps and caps are made out of 100% ocean-safe, home-compostable corn maize material, making it a zero-waste beverage experience.
Coco Taps products can be purchased on their website, cocotaps.com. They offer a Coco Taps Industry License for those who want to distribute Coco Taps coconuts to resorts, beach clubs, and juice bars in their area.
Coco Taps products can also be purchased on Amazon, where they offer the CocoTaps Coconut Tapper Easy Opening Tool + World’s First Ever Sealing Taps. Additionally, Coco Taps products can be purchased on Shark Tank Shopper, where they offer the Coco Taps Coconut Tool Kit.
Lastly, Coco Taps products can be purchased at Walmart, where they offer the CocoDrill Young Coconut Opening Tool, Bright Kitchen Coconut Opener Knife Tool, Red-C Coconut Opener Knife Tool, and other coconut opening tools.
Who is the inventor?
Vincent Zaldivar is the designer and proprietor of Coco Taps. Vinny was not a fan of coconut water until a buddy from an island country showed him how to drink directly from the coconut.
How much was Vinny asked on Shark Tank?
Vinny was asking for $150,000 for a 10% stake in his firm during the Shark Tank pitch on episode 909.
Did he have the deal?
No, Vinny was not able to secure the deal.
Is Coco Taps still in business?
Coco Taps is still in business with $9 million lifetime sales.
Where are Coco Taps made in?
Coco Taps are made in Atacama, California, U.S.
What is Coco Taps website?
The company website is located at http://www.cocotaps.com.
Does Coco Taps use coconuts with the coconut water inside?
No, these are new-leaf coconuts without the water. Hence they are called ‘Un-Drugged’ coconuts.
What type of coconuts do they use?
They use other than Coco nuts that are not grown in coconut trees (Cocos nucifera).
Where can I buy Coco Taps?
Customers can purchase coo taps on Amazon.
Who are some of the well-known people who have used Coco Taps?
Vinny revealed that Coco Brad Pitt had been drinking coconut water for 20 years and has promoted their product in magazines.
He also revealed that Tom Cruise comes to Vegas every so often and loves the concept of tapping a fresh young coconut.
How much is Coco Taps cost?
Vinny Coco Tapper device cost $20 and each coconut costs $27.
How much is a case?
A case consists of 24 coconuts. The cases are delivered to the Strip in Vegas and sell for $45 each. He pays $27 per case that he receives, which leaves him with a profit of $18 per case.
What health benefits does coconut water have?
Coconut water contains electrolytes like potassium, sodium, magnesium and can also boost energy levels thanks to the carbohydrates it contains.
How long does it take Vinny to drill a coco nut?
Vinny machine carefully and scans the coconut shell before drilling a hole in the coconut. After that he uses a drill to make two holes about half an inch apart for each tap.
He then places two reusable, screw-top spigots into the holes and pushes them down until they are fully seated into the coconut and taps become secure.
Who is Coco Taps CEO?
Vinny is the CEO of Coco Taps.
What is a fresh-coconut?
A fresh coconut means a coconut that has just been harvested.
What is the net worth of Vincent Zaldivar?
Vinny Zaldivar’s net worth was not disclosed.