Mee-Ma’s Gumbo Brick Shark Tank Net Worth 2023
Carol Estella Foster pitched her company Mee-Louisiana Ma’s Gumbo Brick to the Shark Tank, seeking a $200,000 investment in exchange for a 20% stake or $1 million valuation.
Kevin and Lori offered her an investment of $200,000 for 50% ownership instead, valuing the company at $400,000.
As of 2023, Mee-Louisiana Ma’s Gumbo Brick is still up and running with customers able to purchase their two flavors (seafood and chicken) from their official website for $65.95 per brick or a ‘Two Plus Two’ set including two seafood and two chicken gumbo bricks for the same price.
What is Mee-Ma’s Gumbo Brick?
Mee Mas Gumbo is a frozen roux block used to prepare authentic Louisiana-style gumbo. It comes in different varieties like chicken, pork, and seafood. The product can be customized by adding water and other ingredients according to the user’s preference. Mee Mas Gumbo is a popular item sold in Costco, Safeway, and Publix, as well as online.
The founder of Mee Mas Gumbo, Carol Foster, established the business in 2007. She was a single mother who used to work as a truck driver. Ms. Foster is originally from Louisiana and transformed her family’s recipe into a staple of New Orleans cuisine. She started selling her product online and it became an instant hit.
Carol Foster’s aim was to offer a fresh gumbo recipe that was not powdered, which she felt was lacking in the grocery store offerings.
She began selling to family, friends, and church members. As demand grew, she created a brand trademark, MEE-MA’s, which reflects the homemade flavor, comfort food, extra value, and easy preparation.
Since its inception, the company has expanded its product line to include ready-to-eat dinners and other Southern delicacies.
In 2010, Ms. Foster began selling to Costco’s Southern California Region, and in 2014, the product became available at Albertsons Companies locations. She plans to expand her distribution channels to make the product more widely available.
What happen to Mee-Ma’s Gumbo Brick at the Shark Tank Pitch?
Carol Estella Foster went to Shark Tank to seek a $200,000 investment in exchange for a 20% stake in her company, Mee-Louisiana Ma’s Gumbo Brick. This would give her company a $1 million valuation. Foster explained that her frozen “bricks” contained the foundation for gumbo, making it easy for consumers to add water and meat and enjoy the dish.
The Sharks loved the product and asked Foster about her costs and pricing. She revealed that she made each unit for $4 and sold them wholesale for $9.99.
In the last two years, she had sold $500,000 worth of product by visiting Costco three days a week and delivering directly to consumers. Costco had expressed interest in stocking her product, but Foster needed funding to fulfill the order.
Mark Cuban, Daymond John, and Robert Herjavec all felt that Foster was not ready to take her company to the next level and exited the deal. Kevin O’Leary liked the product but felt that the infrastructure was not in place. Lori Greiner, however, saw potential and offered $200,000 for a 50% stake.
The other Sharks criticized the offer, but Greiner explained that the high stake was necessary for her to devote the necessary time and effort to ensure the company’s success. Kevin O’Leary warned Foster that she would have to work hard, but the Sharks were pleased with her and praised her for her determination.
Daymond John even compared her to the character who stole Christmas, saying she had found the Grinch’s heart. Lori hugged Foster as she accepted the offer.
Mee-Ma’s Gumbo Brick after the Shark Tank Pitch
Due to her strong dedication to her business and providing for her young child, the normally skeptical Shark was compelled to make an offer on a product he truly believed in.
Despite this, the deal ultimately fell through. Although the initial success was modest, Mee-Louisiana Ma’s Gumbo Brick ultimately became very popular.
Currently, the product is sold at major retail outlets such as Costco, Safeway, Publix, as well as online. However, the company’s website has been inactive since January 3, 2021. While it appears that the business has closed, Carol managed to achieve $5 million in lifetime sales before shutting down operations.
Mee-Ma’s Gumbo Brick Net Worth
Carol Estella Foster approaches the Shark Tank seeking a $200,000 investment in exchange for a 20% interest in Mee-Louisiana Ma’s Gumbo Brick. This equates to a $1 million value.
She accepted an offer from Kevin and Lori of $200,000 for 50% thus bringing the valuation to be $400,000.
Mee-Ma’s Gumbo Brick Competitors
There are no competitors.
Mee-Ma’s Gumbo Brick FAQS
Did the Mee-Ma’s Gumbo Brick secure a deal from the Shark Tank?
In 2013, she presented her firm on Shark Tank. She approached the Tank with a request for $200,000 in return for 20% stock. Lori Greiner and Kevin O’Leary offered her $200k for a 50% stake. She accepted.
What happen to Mee Ma’s Louisiana Gumbo brick?
Unfortunately, the restaurant’s ceiling collapsed in October 2010 due to severe storms, but Carol believes it was “God’s way of telling her it’s time to move on and focus on the Gumbo Brick.”
Essentially, the gumbo brick is a frozen block of roux foundation that contains everything necessary to make true Louisiana style gumbo; all they have to do is add.
Is Mee-Ma’s Gumbo Brick still in business?
The product is now a staple at Costco, Safeway, Publix, and several other retail outlets, as well as being available online.
At some point after January 3, 2021, the website went dark. It appears the company is out of business, but Carol had $5 million in lifetime sales before she shut the doors.
Did Mee-Ma ladies ever make an appearance on the show?
Yes, On May 3, 2013.
How do they make money?
They make money by selling the bricks, as well as by selling in bulk.
What exactly is Mee-Ma’s Gumbo Brick?
The gumbo brick is a frozen block of roux foundation that contains everything necessary to make true Louisiana style gumbo; all they have to do is add.
Does Mee-Ma’s Gumbo Brick ship?
Yes. Patrons may order the product from the website and have it delivered to their doorsteps.
How many years did Mee-Ma’s Louisiana Gumbo Brick exist?
Carol Estella Foster began selling the product in 2007, and it appeared to cease operations after January 3, 2021. Carol had $5 million in lifetime sales before she closed the doors.
How much does Mee-Ma’s Gumbo Brick costs to make and sell?
She manufactures it for $4.00 per unit and sells it wholesale for $9.99 per unit.
What are strengths of Mee-Ma’s Gumbo Brick?
Her strengths are her focus on providing the best product possible, the ability to sell to Costco, and her determination to succeed despite any challenges.
What are weaknesses of Mee-Ma’s Gumbo Brick?
The time and effort required to manage the growth of the company if they can get that far,
What is net worth of Carol Foster?
What is Mee-Ma’s Gumbo Brick website?
What Payment Methods do they accept?
They accept Visa, MasterCard, American Express and Discover card as well as PayPal and Check Payments.
What is the phone number for Mee-Ma’s Gumbo Brick?
What are the largest competitors of Mee-Ma’s Gumbo Brick?
According to Carol, no other gumbo bricks exist.
She insists she borrowed from as many people as she could in an attempt to find the best mix of ingredients before testing it herself.