What Happened To Milkify After Shark Tank?
Milkify Shark Tank Update
Milkify is a United States-based GMP-certified breast milk freeze-drying service that was started in 2019 by Berkley Luck and Pedro Silva. The company converts breast milk into freeze-dried breast milk powder through a freeze-drying process called sublimation.
Milkify’s process allows breast milk to be transformed into a powdered form, which is 90% lighter than frozen milk and easily rehydrated with water. The company’s services provide a safe and easy option for mothers to freeze-dry their breast milk, extending the life of this precious source of nutrition for up to three years.
Milkify appeared on ABC’s “Shark Tank” on April 7, 2023, seeking a $400,000 investment for 10% equity in the company giving Milkify’s valuation estimated to be around $4 million. The co-founders, Berkley Luck and Pedro Silva, pitched their business to the sharks and received a promising investment deal that enabled them to grow the business further.
Mark, Kevin, and Barbara all backed out due to concerns over the price and complexity of the product. However, Lori and Gwyneth were impressed and made an offer of a $400,000 investment as a three-year loan for 20% in the company ($2 million company valuation), which the co-founders eventually accepted.
The co-founders were excited about the investment and believed that it would help them take Milkify to the next level and revolutionize the baby products market.
By partnering with the sharks, they hope continuously expanded their market reach and improved their services to benefit even more customers. Milkify received a great deal of praise from both the sharks and customers.
Milkify’s innovative services have been recognized by a panel of successful entrepreneurs. The company’s proprietary SafeDry freeze-drying pouches allow water vapor to escape while protecting the breast milk from contamination during processing.
Milkify is the only company with a completely contact-free process, meaning that breast milk never contacts their equipment or utensils. Milkify’s flagship location in Houston is the only GMP-certified processing facility in the U.S. built exclusively for the freeze-drying of human milk.
What Is Milkify And How Does It Work
Milkify is a certified breast milk freeze-drying service that converts moms’ milk into freeze-dried breast milk powder without killing beneficial bacteria. The company was started in 2019 by Berkley Luck and Pedro Silva.
The freeze-drying process of Milkify works on a simple principle called sublimation, which removes water from the milk, taking great care not to affect the nutritional quality. The process allows breast milk to be transformed into a powdered form, which is 90% lighter than frozen milk and easily rehydrated with water.
Milkify’s proprietary SafeDry freeze-drying pouches allow water vapor to escape while protecting the breast milk from contamination during processing.
Each lactation bag of milk that Milkify receives is individually tracked and freeze-dried using a contact and chemical-free process.
The milk is received and undergoes an initial quality control check. Every bag is labeled with the customer’s name and a unique ID number for tracking. Each bag of milk is weighed and logged, and the expression date and any other notes written on the bag are recorded for transfer to the final custom label.
Frozen milk is transferred to Milkify’s SafeDry lyophilization pouches, which protect the milk from contamination while allowing the water vapor to escape. Each pouch remains separate during freeze-drying and ensures that the milk is labeled even while in the freeze-dryer.
The freeze-dried breast milk powder is then packaged using sterile technique inside an ISO5 cleanroom workstation.
As part of the final quality control check, Milkify measures the water activity (“dryness”) of the breast milk powder to ensure that it will remain shelf-stable for up to three years. After this, the freeze-dried breast milk is ready for shipment.
What Happened To Milkify After Shark Tank?
The co-founders of Milkify sought a $400,000 investment for a 10% stake in their company on Shark Tank episode 19 of season 14 at a $4 million Milkify valuation.
However, the Sharks were not easily impressed, and their pitch encountered some obstacles. Mark, Kevin, and Barbara were hesitant to invest, citing concerns over the price point and complexity of the process.
The world of baby products is notoriously competitive and requires a delicate balance between affordability and effectiveness, so the Sharks’ hesitance was understandable.
Lori and Gwyneth recognized the potential of the product to empower mothers and make their lives easier. They made a bold counteroffer, proposing to provide the $400,000 investment as a three-year loan for 20% of the company.
Because of the strains that come with the loan, the co-founders made an adjustment to make a $400,000 investment as a convertible note for 20% in the company ($2 million company valuation), which the co-founders/sharks eventually accepted.
Berkley and Pedro were thrilled with the offer as it provided the necessary funds for the businesses. With this investment, they could take Milkify to the next level and revolutionize the baby products market, empowering mothers everywhere.
Milkify Shark Tank Net Worth
As of April 2023, Milkify’s net worth is estimated to be $2.0 million based on the investment valuation.
The co-founders, Berkley Luck and Pedro Silva pitched their business to the sharks while seeking a $400,000 investment for a 10% stake (at a $4 million valuation). They got a deal with guest shark Gwyneth Paltrow and Lori Greiner of $400,000 investment for a 20% stake reducing the valuation to $2 million.
The company has received positive reviews and has grown to employ 10 full-time staff members and currently offers its services only in the United States.
The company offers different packages of freeze-dried breast milk, with prices ranging from $299 to $499, depending on the amount of milk processed and the shipping location.
Milkify Shark Tank Update Summary
| Company Name | Milkify |
| What it does | Provides a certified breast milk freeze-drying service that converts breast milk into freeze-dried breast milk powder through a freeze-drying process called sublimation. |
| Shark Tank Appearance | Appeared on Shark Tank on April 7, 2023, seeking a $400,000 investment for a 10% equity stake in the company. The co-founders received a $400,000 investment as a three-year convertible note for a 20% stake in the company from Lori and Gwyneth. |
| Product | Milkify’s SafeDry freeze-drying pouches allow water vapor to escape while protecting the breast milk from contamination during processing. The freeze-dried breast milk powder can be easily rehydrated with water. |
| Net Worth | As of April 2023, Milkify’s net worth is estimated to be $2.0 million based on the investment valuation. |
| Founders | Berkley Luck and Pedro Silva |
| Sales | Not mentioned |
| Shark Tank Episode | Season 14, Episode 19 |
| Deal | $400,000 investment as a convertible note for 20% in the company ($2 million company valuation) offered by Lori and Gwyneth |
| Investor | Lori Greiner and Gwyneth Paltrow |
| Business Status | Milkify is Still in Business as of April 2023. |
FAQs
About Milkify
Milkify is a breast milk freeze-drying service that was started in 2019 by Berkley Luck and Pedro Silva in the United States. They convert breast milk into freeze-dried breast milk powder through a freeze-drying process called sublimation.
Milkify appeared on ABC’s “Shark Tank” seeking a $400,000 investment for 10% equity in the company. Mark, Kevin, and Barbara all backed out due to concerns over the price and complexity of the product.
However, Lori and Gwyneth were impressed and made an offer of a $400,000 investment as a three-year convertible note for 20% of the company, which the co-founders eventually accepted. Milkify’s net worth as of April 2023 is estimated to be $2.0 million.
The company is still in business and hopes to continuously expand its market reach and improve its services to benefit even more customers.
What Was The Outcome Of Milkify’s Pitch On Shark Tank
During the 7th April 2023 Shark Tank episode, Milkify secured a deal with Lori and Gwyneth for a $400,000 investment as a convertible note for 20% in the company ($2 million company valuation).
The co-founders Berkley Luck and Pedro Silva entered the tank and explained their business to the sharks, informing them about the current performance of the business and their return customers. They were seeking a $400,000 investment for a 10% stake (at a $4 million valuation).
The company has received positive feedback from both the sharks and customers, and since partnering with a shark, they have continuously expanded its market reach and improved its services.
Milkify’s innovative service allows breast milk to be transformed into a powdered form, which is 90% lighter than frozen milk and easily rehydrated with water.
What Was The Shark Tank Deal With Milkify?
Milkify appeared on Shark Tank on April 7th, 2023. The co-founders, Berkley Luck and Pedro Silva, pitched their business to the sharks and received a promising investment deal that enabled them to grow the business further.
During the episode of ‘Shark Tank’, Milkify’s co-founders, Berkley Luck and Pedro Silva, sought a $400,000 investment for a 10% stake and got a deal with Gwyneth Paltrow and Lori Greiner( $400,000 investment for a 20% stake).
Since partnering with the Sharks, they have continuously expanded their market reach and improved their services to benefit even more customers.
Milkify’s appearance on Shark Tank has brought more attention to the company and its unique services. The company has garnered a great deal of praise from both the sharks and customers.
Anyone who sees Milkify Freeze Dried Breast Milk on Shark Tank and wants to try it out for themselves can visit the website at milkify.me.
Which Sharks Invested In Milkify?
It is not clear from the provided search results which sharks invested in Milkify. The sources only mention that the founders, Berkley Luck and Pedro Silva, pitched their business to the panel of five sharks, including Mark Cuban, Barbara Corcoran, Lori Greiner, Kevin O’Leary, and guest shark Gwyneth Paltrow
The founders received a promising investment deal that enabled them to grow the business further. However, the specific details of the deal and which sharks invested are not mentioned in the sources.
What Is The Cost Of Milkify’s Freeze-Drying Service
Milkify charges $79 for 40 ounces of freeze-dried breast milk, which is comparable to the same amount of infant formula. The company offers a shipping kit to the mother, which includes a bag to store the milk, and the customer name and unique ID are given in that bag.
Each lactation bag of milk that Milkify receives is individually tracked and freeze-dried using a contact and chemical-free process.
The freeze-drying process removes water from the milk, taking great care not to affect the nutritional quality, and the resulting breast milk powder can be stored for up to three years without refrigeration.
Milkify’s proprietary SafeDry freeze-drying pouches allow water vapor to escape while protecting the breast milk from contamination during processing.
What Is The Shelf Life Of The Freeze-Dried Breast Milk Powder?
Freeze-dried breast milk powder has a shelf life of three years from the date of freeze-drying. This means that it does not require refrigeration or freezing and can be stored at room temperature.
What Is The Price Of Milkify’s Breast Milk Freeze-Drying Service Per Ounce?
Milkify charges $1.97 per ounce for orders of less than 500 ounces of freeze-dried breast milk. However, for orders of 500+ ounces, the company offers custom pricing by the ounce, starting at $1.62/oz.
Milkify is a certified breast milk freeze-drying service that converts moms’ milk into freeze-dried breast milk powder without killing beneficial bacteria.
The company offers a shipping kit to the mother, which includes a bag to store the milk, and the customer name and unique ID are given in that bag.
The freeze-drying process removes water from the milk, taking great care not to affect the nutritional quality, and the resulting breast milk powder can be stored for up to three years without refrigeration.
