Hungry Harvest Shark Tank Net Worth 2023 | Hungry Harvest Shark Tank Update
Hungry Harvest Shark Tank Net Worth
Hungry Harvest was featured on Shark Tank in 2015 and had a valuation of $1 million. This is based on an accepted offer from shark Robert’s of $100,000 in exchange for 10% equity.
Hungry Harvest was worth $1 million dollars and had an annual revenue stream of one to two million dollars when it made an appearance on Shark Tank.
Since its appearance on the show in 2015, the company’s customer base has grown threefold and it now caters to over 100 retailers across the United States. As a result, the company’s current net worth has soared to $12 million dollars.
What is Hungry Harvest? Who is the Founder of Hungry Harvest?
Hungry Harvest is a food subscription service that delivers “ugly food,” which refers to perfectly safe food that may not look as visually appealing as supermarket produce.
The co-founder and CEO of Hungry Harvest is Evan Lutz, a Baltimore native who studied at the University of Maryland. Before creating Hungry Harvest, Lutz worked as an Earned Income Coordinator at the Food Recovery Network, which foreshadowed his founding of Hungry Harvest. He remains the CEO of the company.
Despite the less attractive appearance of the produce, it is still nutritious and delicious. Hungry Harvest distributes healthy food along the East Coast on a subscription basis, allowing customers to customize their subscription boxes.
Evan Lutz, the CEO and co-founder, was a business major at the University of Maryland who had a keen interest in entrepreneurship and a desire to start his own company after graduation.
Lutz wanted to run his business in a way that would benefit those in need, reduce waste, and generate revenue by selling a product that no one had wanted before. He was moved by the poverty, hunger, and injustice he saw on the streets of his hometown.
Lutz noticed that food waste was a major problem worldwide, with 6 billion pounds of food wasted annually in the United States alone, enough to fill four NFL stadiums to capacity.
He purchases this wasted food and sells it to customers at a 10-20% discount on what they would pay for better-looking produce.
Additionally, for every bag of produce delivered to paying customers, Hungry Harvest donates 1.2 pounds of produce to food banks in the surrounding Washington, D.C., and Baltimore areas, as well as to free farmers’ markets.
Hungry Harvest at Shark Tank Pitch
Evan Lutz appeared on Shark Tank to seek assistance in expanding his business to new areas. He offered a 5% stake in his company, which was valued at $1 million, in exchange for $50,000.
He pitched his business, which specialized in delivering “ugly food” that was still safe to eat but may not look as appealing as supermarket produce.
He also distributed meals to needy households and saved consumers money by selling the unattractive produce that would otherwise go to waste.
Robert Herjavec offered $100,000 for a 10% stake in the company, which Evan accepted. Following the show, daily internet views increased from 150 to over 3,000, and in March 2020, the company raised $7.25 million in venture capital investment to expand its marketing efforts, hire new staff, and improve its supply chain operations.
As of August 2021, the company services several regions, including Maryland, Washington, DC, Virginia, Greater Philadelphia, Southern New Jersey, Northern Delaware, South Florida, North Carolina’s Triangle Area and Charlotte, and the Detroit Metropolitan Area. Its annual revenue at that time was $4 million.
Competitors of Hungry Harvest
The major competitors of the Hungry Harvest are; The Produce Box, Field Goods, Dazzlepro, VegiWorks, Thoroughbred Racing Association, Qanta, Nature Camp and Phoenix Group International.
Hungry Harvest Net Worth
Hungry Harvest was featured on Shark Tank in 2015 and had a valuation of $1 million. This is based on an accepted offer from shark Robert’s of $100,000 in exchange for 10% equity.
Hungry Harvest was worth $1 million dollars and had an annual revenue stream of one to two million dollars when it made an appearance on Shark Tank.
Since its appearance on the show in 2015, the company’s customer base has grown threefold and it now caters to over 100 retailers across the United States. As a result, the company’s current net worth has soared to $12 million dollars.
Hungry Harvest Shark Tank Update
Hungry Harvest is a subscription-based delivery service that sources “ugly” produce that would otherwise be discarded and delivers it to customers’ doorsteps. The company was featured on Shark Tank in Season 7 and made a deal with Robert Herjavec.
Since then, Hungry Harvest has continued to grow and expand its mission to reduce food waste and fight hunger.
According to a Shark Tank Blog update, the deal for Hungry Harvest closed, and the company has been doing well.
In fact, Hungry Harvest has repositioned itself as a vegan and vegetarian destination. The company has also partnered with local healthcare institutions to distribute emergency food boxes during the pandemic.
In a recent appearance on Shark Tank, CEO Evan Lutz provided an update on the company’s progress and growth. The episode highlighted Hungry Harvest’s efforts to reduce food waste and fight hunger, as well as its partnerships with local healthcare institutions.
The company has continued to expand its geographic territory and has become one of the world’s most popular healthy food brands since appearing on the show.
Summary Table for the Information about Hungry Harvest:
| Company Name | Hungry Harvest |
| Founder | Evan Lutz |
| Product | Subscription-based delivery service for “ugly” produce that would otherwise be discarded. |
| Competitors | The Produce Box, Field Goods, Dazzlepro, VegiWorks, Thoroughbred Racing Association, Qanta, Nature Camp, Phoenix Group International |
| Valuation | $1 million (Shark Tank 2015) |
| Annual Revenue | $1-2 million (Shark Tank 2015) |
| Current Net Worth | $12 million |
| Shark Tank Deal | $100,000 for 10% equity (accepted by Robert Herjavec) |
| Update | Repositioned as a vegan and vegetarian destination, partnered with local healthcare institutions to distribute emergency food boxes during the pandemic. |
Hungry Harvest FAQs
What Is Hungry Harvest
Hungry Harvest is a farm-to-doorstep produce delivery service that rescues fruits and vegetables that would otherwise go to waste and delivers them to local doorsteps. The company was founded by Evan Lutz, who started with a farm stand while studying at the University of Maryland after having a conversation with a farmer about food waste.
Hungry Harvest rescues produce at three different points in the supply chain: the farm, the packing house, and the wholesaler. The company delivers rescued produce to local doorsteps so that it can be used instead of thrown away.
Every delivery from Hungry Harvest rescues at least 10 pounds of fruits and vegetables, and since 2014, the company has rescued over 27 million pounds of produce, helping to reduce food waste. Hungry Harvest also gives back by supporting local hunger-solving partners and charities.
The company has provided over 1.7 million pounds of food to those in need and will continue to donate and expand its Emergency Box Food program to get food to those who need it the most.
Hungry Harvest offers a variety of produce boxes that start at $15 and come in different sizes and options, including organic. Customers can customize their harvest for free and shop the marketplace for additional grocery staples.
The company delivers farm-fresh plant power directly to customers’ doorsteps by local drivers. By using Hungry Harvest, customers can eliminate food waste and support local donations to hunger-fighting organizations.
How Does Hungry Harvest Help Reduce Food Waste
Hungry Harvest helps reduce food waste by rescuing produce that would otherwise go to waste and delivering it to customers’ doorsteps. The company works with farmers and creators to rescue produce and grocery items, and every delivery saves at least 10 pounds of food from going to waste.
Since 2014, Hungry Harvest has rescued over 27 million pounds of produce, helping to reduce food waste. In addition, the company supports local hunger-solving partners and charities, providing over 1.7 million pounds of food to those in need.
By rescuing food that would otherwise go to waste, Hungry Harvest is contributing to reducing the billion pounds of food waste generated by manufacturers, retailers, and farmers every year
Who is the founder?
Evan Lutz is the founder and owner of Hungry Harvest. He is a University of Maryland business student who saw food waste as an opportunity to help out people in need, reduce food waste, and make the company profitable.
What is the vision of Hungry Harvest?
Hungry Harvest’s vision is to disrupt the ugly produce industry by creating a new category that benefits farmers, consumers, and the economy at large. Evan wants to change how people shop for their fruits and vegetables.
What Happened To Hungry Harvest After Shark Tank?
Hungry Harvest appeared on Shark Tank in January and received a $100,000 investment from Robert Herjavec and Kevin O’Leary. Since then, the company has grown substantially and now operates in nine cities or regions, including Washington D.C., South Jersey, Philadelphia, northern Delaware, South Florida, Virginia, Maryland, North Carolina, and Metro Detroit, with plans to expand to 30 more.
Hungry Harvest has partnered with over 100 retailers across America, such as Giant Food Stores, Safeway Inc., and local co-ops. The company is currently worth $12 million dollars. Despite the fact that a new study revealed food inflation is the worst it’s been in years, the produce delivery packages remain at the same price points they were when they appeared on Shark Tank in.
During the pandemic, Hungry Harvest partnered with local healthcare institutions such as Johns Hopkins and the University of Maryland Medical System to distribute 65,000 meals.
Hungry Harvest has repositioned itself as a vegan and vegetarian destination. The company’s goal is to put an end to food waste and people’s hunger while creating financial value for itself and its team members.
How Has Hungry Harvest Grown Since Appearing On Shark Tank
Since appearing on Shark Tank, Hungry Harvest has grown and expanded its delivery service to include organic fruits and vegetables. The company has also continued to focus on reducing food waste and has rescued over 20 million pounds of food from being thrown away.
In addition, Hungry Harvest has repositioned itself as a vegan and vegetarian destination. The company made a second appearance on Shark Tank in December 2020.
What Was The Outcome Of Hungry Harvest’s Pitch On Shark Tank
On Shark Tank, Hungry Harvest made a deal with Robert Herjavec for $100,000 in exchange for a 10% share in the company. The company has since continued to grow and expand its delivery service to include organic fruits and vegetables.
As of 2023, Hungry Harvest is still in business and has been doing well to solve the world hunger problem. The company has also rescued over 20 million pounds of food from being thrown away.
Which Shark Invested In Hungry Harvest
Robert Herjavec invested $100,000 for a 10% share in Hungry Harvest on Shark Tank. Evan Lutz, one of the co-founders of Hungry Harvest, appeared on Shark Tank in January 2016, requesting an investment of $50,000 in exchange for a 5% equity in the company. However, Robert Herjavec made a better offer, investing $100,000 for a 10% share in the company.
What Is The Current Valuation Of Hungry Harvest
As of November 2021, Hungry Harvest was estimated to be worth $12 million dollars. However, in September 2020, the company announced that it had closed a Series A funding round with a total investment of $13.7 million. It is unclear what the current valuation of the company is, as there are no recent reports on the topic.
Did he get the deal?
Yes, Evan got the deal.
How much is the deal?
Robert offer $100,000 for a 10% stake in Hungry Harvest valued at $500,000.
Is Hungry Harvest still in business?
Hungry Harvest closes a $14 million round amidst a business boom fueled by Covid. Hungry Harvest, based in Baltimore, has completed its Series round of fundraising, raising $13.7 million in venture money.
How does Hungry Harvest make money?
Certified organic vegetable bags range in price from $30 to $55. Hungry Harvest donates two pounds of vegetables for every bag of produce sold to local groups that feed the hungry.
Lutz says that they have “recovered” 300,000 pounds of food and donated 100,000 pounds to those in need thus far.
Is Hungry Harvest a nonprofit?
Any remaining funds will be used to support any other food access initiatives or to assist other hunger-fighting partners.
As with Hungry Harvest, Produce in a SNAP is not a 501(c) (3) organization; thus, if users wish to make a tax-deductible gift, please consider assisting their hunger-fighting partners.
How did he get into this business?
Hungry Harvest was created out of Evan Lutz’s desire to solve a problem that he saw happening in his neighborhood.
He noticed that, while America is fortunate enough to have an abundance of food, it just wasn’t reaching the people who needed it most. However, Evan believes there are still ways to make money off of this surplus food.
Is Hungry Harvest profitable?
Hungry Harvest earned $37,000 in the first six months and slightly more than $100,000 in the most recent month, Lutz stated in the episode, which aired in June.
However, the firm suffered a net loss of roughly $20,000, and Lutz stated that he was not profitable.
What is the net worth of Evans Lutz?
The net worth of Evans Lutz is unknown and is expected to go high since the company has made millions in sales since the episode aired in June.
