Kombucha Shark Tank Net Worth 2023
The Kombucha Shop’s valuation has skyrocketed in 2021 due to the company’s significant sales. During their pitch, the company was valued at $3.5 million, but by 2022 its net worth has grown to a staggering 4 million USD.
This remarkable growth can be attributed to subsequent investments and savvy financial decisions from their management team, allowing them to capitalize on their success and increase their value even further in 2021 and beyond.
What is Kombucha?
Kombucha is a fermented tea that is naturally sweetened and packed with beneficial probiotics. The process of creating Kombucha involves adding a culture to a mixture of tea, which is then left to ferment.
Once the fermentation process is complete, the Kombucha can be stored in bottles or jars for further consumption either at home or commercially.
For those interested in home brewing Kombucha, there are unique and innovative home brewing gear available that make the process simple, cost-effective, and enjoyable. Kate Field founded Kombucha in 2013 after discovering her passion for the drink while working as a culinary and nutrition instructor for low-income families in Washington, DC.
Her interest in home brewing Kombucha quickly turned into an obsession with spreading the knowledge and skills required to brew Kombucha at home.
Kate, who was dissatisfied with the kit alternatives available at the time, believed that with her expertise, she could create a superior kit that emphasized quality tools and step-by-step instructions.
The brewing process involves the presence of stringy, mushroom-like lumps floating in the Kombucha mixture, which ferments best between 74 and 80 degrees Fahrenheit. However, drinking more than four ounces at a time can cause heartburn, and unpasteurized varieties, including home-brewed Kombucha, can lead to bacterial infections.
Pregnant women should avoid consuming Kombucha altogether, and drinking poor quality Kombucha can cause stomach distress.
Kate’s Kombucha business offers beginner packages priced at $50 and deluxe kits at $80. She hopes that the Sharks would recognize the benefits of Kombucha and invest in her business.
Kate’s dedication to creating quality Kombucha brewing kits has paid off, with The Kombucha now being the largest and most dependable home brew Kombucha brand on the global market after six years and hundreds of thousands of kits sold.
What Happened to Kombucha at Shark Tank pitch?
Kate opted to present her Kombucha product to the investors on Shark Tank in hopes of finding a partner to help achieve her ambitions, after spending a considerable amount of time developing it.
During her appearance on the show, Kate sought $350,000 for a 10% stake in her company, which was valued at $3.5 million.
She demonstrated how to create her product, highlighting that her homemade version only cost 25 cents per serving compared to commercially available Kombucha, which could cost between $2.50 and $5.00 per serving. Kate had lifetime sales of $3.2 million and projected $1.7 million for 2018.
Despite operating alone and incurring no customer acquisition expenses, Kate was looking for a strategic partner to help her break into the retail industry.
Although the Sharks were not impressed with the taste of the samples, they were interested in the business. Kevin offered $350,000 for a 20% stake, while Barbara proposed $200,000 in cash and a $150,000 line of credit for a 10% stake at a $3.5 million valuation. Sara agreed to split the deal with Barbara, and Kate eventually accepted their offer.
However, the deal with Barbara and Sara fell through, and Kate continued to run her Kombucha business independently. She received over 15,000 orders after her Shark Tank appearance and secured a spot in Whole Foods markets in the Midwest.
In January 2021, the CEO of a digital marketing agency, Habib Bakshi, purchased the Kombucha Shop in a multi-million dollar transaction.
His company specializes in increasing e-commerce sales for the fashion and luxury segments and handles approximately $1.8 billion in digitally generated sales. The Kombucha Shop’s annual sales in 2021 are projected to be $2 million and are expected to continue to grow.
Competitor of Kombucha
The company compete with the following competitors; Keurig Dr Pepper, Radico Khaitan, Timothy’s Coffees and SUMOL+COMPAL.
Net Worth of Kombucha
During the pitch the company was valued at $3.5 million and they have made a lot of sales this make the company to increase in valuation in 2021.
Kombucha FAQs
What is Kombucha?
Kombucha is naturally sweetened, fermented tea that is full of valuable probiotics. It’s made through a process called ‘home brewing’ where the culture gets added to the tea mixture. Once it has finished fermenting, it can be stored in bottles or jars for further consumption at home or commercially.
Who is the founder?
Kate Field is the founder of Kombucha. She is a California native currently residing in Brooklyn, NY.
What is her offer on Shark Tank?
Kate was asking for $350,000 for a 10% stake in her company, which was valued at $3.5 million.
Did she get the offer?
Yes, she did get an offer from Barbara Corcoran. Barbara offers $200,000 in cash and a $150,000 line of credit in exchange for a 10% stake in the firm at a valuation of $3.5 million. The contract actually was never completed.
Is still in business?
The Kombucha is still in business and is growing spontaneously.
Where can you purchase Kombucha?
What are the ingredients?
There are three main ingredients that are absolutely required for making Kombucha at home: tea, sugar and Kombucha culture (also called Kombucha mother).
How is the business model?
The business is a one-person show with ZERO customer acquisition costs.
Is safe to buy online?
Yes it is safe to buy online.
What are the ingredients?
Tea has 800 mg of caffeine
How much Caffeine do you get in 8oz cup of Coffee?
On average, consumers in the US drink 88 cups of coffee per day. If they are one of them, then that means they are ingesting 196 mg of caffeine per cup. Depending on their tolerance, that can range from 100 to 200 mg.
What exactly is it?
That is yeast! And it’s a positive indication that there’s a lot of healthy fermentation going on. Yeast is beneficial.
Is it all right?
Yes, air bubbles are created by changes in air temperature, air movement, or CO2 accumulation. Seeing some air bubbles on a culture during fermentation is quite natural.
How do I pay?
They prefer PayPal.
How long will it take before I receive my Kombucha?
Typically, we ship orders on Monday and Tuesday each week, but there may be occasions when we ship during the weekend as well as all throughout the week if necessary (depending on demand).
What is the opportunity?
This is a great opportunity to market your products and services and also expand business.
Is it legit?
Yes it is legit.
Can I get a refund?
Yes, if the product is not delivered on time one can ask for a refund. Also, if they are looking for a flexible schedule, then this opportunity is not for them because they have to work on weekends.
Their hard work will prove its worth in the end when they earn over $2,000 per month.
