Expedition Subsahara Shark Tank Net Worth-What Happened After The Shark Tank Pitch?
Expedition Subsahara Updates
Expedition Subsahara is a company that produces and sells handmade baskets and other hand-crafted home decorations inspired by African culture, especially Senegal.
The company uses natural materials and traditional weaving patterns to create colorful and unique products that take over 40 hours to manufacture. Expedition Subsahara products can be purchased exclusively on their website.
Sofi Seck, the founder of Expedition Subsahara, set aside 20% of her yearly proceeds or $50,000 (whichever is higher) as funds to build a Science, Technology, Engineering, Art, and Maths (STEAM) School for girls in Senegal, which will take around $300,000.
As of 2022, the company had a net worth of $4.6 million. In 2021, Expedition Subsahara made a gross profit of $1 million but a net profit of $75,000 as the majority of sales were being reinvested back into the business.
Expedition Subsahara faced challenges in the American market as the handmade woven baskets could be considered a luxury item. The first Kickstarter campaign did not meet its goal, and Sofi did not receive a deal on Shark Tank.
However, the company is still in business and generating strong branding through social media, with a total of $48k followers on Instagram as of October 2022. Expedition Subsahara is worth an estimated $3 million as of 2023.
Summary Table: Expedition Subsahara Shark Tank
| TOPIC | INFORMATION |
| Company Name | Expedition Subsahara |
| Product | Handmade baskets and other hand-crafted home decorations inspired by African culture, especially Senegal. |
| Founder | Sofi Seck |
| Mission | Empower the next generation of Senegalese girls with a percentage of profits reallocated for building a girls’ STEAM school. |
| Production | Natural materials and traditional weaving patterns. |
| Selling | Online exclusively. |
| Gross Profit (2021) | $1 million. |
| Net Profit (2021) | $75,000. |
| Valuation (2022) | $4.6 million. |
| Valuation (2023) | $3 million. |
| Investment Received | $200,000 from Mark Cuban and Lori Greiner on Shark Tank. |
| Challenges | Difficulties in the American market as handmade woven baskets could be considered a luxury item. The first Kickstarter campaign did not meet its goal. |
| Social Media Followers (as of October 2022) | 48,000 followers on Instagram. |
| Funding for STEAM school | 20% of yearly proceeds or $50,000 (whichever is higher) is set aside. |
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.
How Does Expedition Subsahara Works?
Expedition Subsahara is a home decor business that sells handcrafted African art from Senegal, including handmade baskets, home decorations, and kitchenware. The founder, Sofi Seck, started the business in 2018 to support female artisans by selling African handicrafts and giving them education and jobs.
All of their items are brightly colored and uniquely designed, reflecting the art from the West African nation of Senegal.
Expedition Subsahara explores the Senegalese culture of weaving baskets as a community and sells authentic handmade products made from completely natural materials.
The baskets are handwoven using sweetgrass and colorful fibers, and the makers use an authentic weaving pattern that mirrors the traditional Senegalese style. The products take over 40 hours to manufacture and are sold online.
Expedition Subsahara appeared on Shark Tank in 2019 and received an investment of $200,000 from Mark Cuban and Lori Greiner. The company is still in business and running with a focus on its mission to support females by giving them education and jobs.
The founder believes that she supports female artisans by selling African handicrafts. The company’s website has a FAQ section where customers can ask questions about their orders, product suggestions, and technical issues.
What Is The Current Valuation Of Expedition Subsahara?
Expedition Subsahara is a company that sells woven baskets and other hand-crafted home decorations inspired by African culture, especially Senegal. The founder, Sofi Seck, appeared on Shark Tank in season 14, asking for $500,000 for a 10% equity at a $5 million valuation.
However, she did not get a deal. Despite this, Expedition Subsahara has experienced tremendous growth and success since appearing on Shark Tank. In 2021, the company made a gross profit of $1 million, but a net profit of $75,000 as most of the sales were reinvested back into the business.
As of 2023, Expedition Subsahara is worth an estimated $3 million.
Expedition Subsahara has secured additional funding and partnerships, leading to its continued success. The company is generating strong support from Shark Tank fans and is doing its branding through social media, with a total of $48k.
Expedition Subsahara products can be purchased exclusively on their website, and the prices range from $29 for smaller objects to about $200 for large baskets.
The company sets aside 20% of its yearly proceeds or $50,000 (whichever is higher) as funds to build a Science, Technology, Engineering, and Mathematics (STEM) school in Senegal.
Based on the provided search results, Expedition Subsahara’s current valuation is estimated to be around $3 million. However, it is important to note that this estimation may not be entirely accurate as it is not explicitly stated in any of the sources.
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.
