Expedition Subsahara Shark Tank Net Worth-What Happened After The Shark Tank Pitch?

What Is An Expedition Subsahara? Who Is The Founder Of Expedition Subsahara?

Expedition Subsahara is a brand that celebrates Senegalese culture and craftsmanship with traditional coil-style woven baskets, table linens, and accents.

The founder of Expedition Subsahara, Sofi Seck, founded the brand as a way to connect her two very different cultures in a way that is radically respectful.

She wants to retell the story of African craftsmanship through the lens of the lion, in a way that showcases the incredible skill and expertise of their now 120 Senegalese weavers.

Expedition Subsahara’s mission is to empower the next generation of Senegalese girls with a percentage of profits reallocated for building a girls’ STEAM school.

Twenty percent of Expedition Subsahara’s profits are earmarked to a fund which will eventually support a STEAM (Science, Technology, Engineering, the Arts and Mathematics) school for girls in Senegal.

What Happen To Expedition Subsahara At The Shark Tank Pitch?

Sofi Seck, the founder of Expedition Subsahara, pitched her business idea very well in Shark Tank and it was a great sell for the business. She asked for $500k for a 10% equity at a $5 Million Valuation. The sharks were impressed with her pitch and story.

According to Sofi, producing an average-sized basket from Expedition Subsahara costs around $18, while the product can be sold for approximately three times that amount, with a price point of around $50. The majority of the company’s sales come from online channels, and they have generated $900,000 in revenue during the current calendar year.

In the previous calendar year, the company had gross sales of around $1.6 million, but Sofi only made a profit of approximately $75,000. This was mainly due to the high customer acquisition cost of $160.

Sofi found it difficult to convince the Sharks to invest in her project. Kevin said she was losing money and going into retail would tie up a ton of capital, so he opted out. Lori liked the baskets and mission but not the valuation, resulting in her pulling out too.

Mark suggested that Sofi could operate as a sole proprietor, but he ultimately chose to decline involvement.

Robert saw potential in Sofi’s idea but felt there wasn’t enough return on investment for his liking; thus resulting in his stepping away from the table.

Lastly, Daymond commented that people who change the world don’t accept the way things have always been done yet he still decided against investing.

Ultimately, despite her passion and drive, Sofi failed to entice any of the Sharks into believing in her business enough to give her a shot at success – however when faced with adversity she stood strong and declared “bet on me”.

What Happen To Expedition Subsahara After The Shark Tank Pitch?

Sofi Seck pitched her business, Expedition Subsahara, on season 14 of Shark Tank but didn’t get a deal. The Sharks didn’t like how much she was paying her workers and her customer acquisition cost was too high.

They didn’t see it as a viable business and the valuation was too high. However, Expedition Subsahara is generating strong sales online and is worth an estimated $2 million as of 2022.

In 2021, the company made a gross profit of $1 million but a net profit of $75,000 as Sofi was reinvesting the majority of sales back into the business.

Expedition Subsahara Shark Tank Net Worth

Expedition Subsahara, a company that sells woven baskets and other hand-crafted home decorations inspired by Africa, appeared on season 14 of Shark Tank seeking $500,000 for 10% equity, at a $5 Million Valuation. 

Although they did not get a deal, the business is generating strong sales online and is worth an estimated $2 million as of 2022.

In 2021, Expedition Subsahara made a gross profit of $1 million but a net profit of $75,000 as most of the sales was reinvested back into the business. The company is expected to make over $1 million in 2022 and sells products ranging from $39 to $135.

Is Expedition Subsahara Still In Business?

Yes, Expedition Subsahara is still in business as of November 2022. The company is focused on its mission to support females by providing education and jobs and donates 20% of its annual sales to the education of Senegalese girls.

The brand sells handmade crafts related to Senegal culture, including baskets, kitchen decor, and room decor.

Founder Sofi works with many artists and employs over 120 people from Senegal in Africa. Although the company did not receive investment on Shark Tank, it has sold $900K as of October 2022 and is estimated to have a net worth of approximately $1.2 million.