Nomiku Shark Tank Net Worth (2023) | What Happened To Nomiku After Shark Tank?
What is Nomiku?
Nomiku was a company based in San Francisco that made sous vide immersion circulators designed for home cooks. It is a cooking method that involves sealing food in a vacuum bag and cooking it in a water bath at a precise, low temperature for a long period of time, typically one to six hours. This method allows for evenly cooked food that retains moisture.
Nomiku offered two models of their immersion circulator, the original and a WiFi version that can be controlled remotely with a mobile app.
The original model cost $199 and the WiFi model cost $249.
The company was founded in 2012 by Lisa and Abe Fetterman and started as a Kickstarter project.
The name Nomiku is a shortened version of the Japanese phrase “Nomikui” (飲み食い), which means “eating and drinking”. The company’s goal was to provide access to sous-vide cooking, which involves cooking food in a vacuum-sealed bag in a water bath at a precise temperature.
Nomiku appeared on the TV show “Shark Tank” in Season 8, Episode 10, where Lisa Fetterman sought to bring sous vide into home kitchens at an affordable price.
On Season 8 Episode 10 of Shark Tank, Nomiku received a $250,000 investment from guest shark Chris Sacca in exchange for a 10% stake, valuing the company at $2.5 million.
After the show, Nomiku began selling a Wi-Fi-enabled machine that connected to an app to monitor food from anywhere.
The company also began offering a meal delivery service that shipped pre-packaged, pre-cooked, pre-portioned meals to customers that could be prepared using sous vide cooking in 30 minutes.
However, Nomiku faced several challenges, including complaints about unreceived orders, unreliable machines, and incorrect wiring. The eventual retail price of $359 might have made the product unattractive.
Nomiku also faced competition from similar businesses, including a rival businessman who made a copy of their sous vide machine.
In December 2019, Nomiku announced that it was shutting down its operations, including both its sous vide appliance business and its sous vide ready meal business, Nomiku Meals.
Who are the Founders of Nomiku?
Nomiku was founded by Lisa and Abe Fetterman, along with Wipop Bam Suppipat. Lisa Fetterman was the CEO of Nomiku and has been named to Forbes 30 Under 30 and Zagat 30 Under 30 for her work.
Prior to starting Nomiku, Lisa and Abe started their first company together called Lower East Kitchen while living in New York City.
What Happened to Nomiku After Shark Tank
Nomiku is a sous vide cooker that was pitched on Shark Tank by Abe and Lisa Fetterman in Season 8, Episode 10. They asked for $250,000 for 5% equity and ended up accepting an offer from Chris Sacca for $250,000 for 10% equity valuing the company at $2.5 million.
Abe and Lisa, the creators of Nomiku, a sous-vide cooking device, raised over $1.3 million on Kickstarter and spent two years manufacturing the first generation in China.
They later moved production to San Francisco.
Nomiku is an “easy-to-use and affordable product” that aims to make cooking sous vide at home more convenient
After appearing on Shark Tank, Nomiku’s products were sold at Williams-Sonoma stores and in April 2017, the company began offering frozen, pre-assembled sous vide meals.
After the show, Lisa Fetterman, one of the founders of Nomiku, wrote two books about sous vide cooking and began selling a Wi-Fi enabled machine that connected to an app to monitor food from anywhere.
Despite receiving a $250,000 investment from guest shark Chris Sacca in exchange for a 10% stake, Nomiku struggled to stay afloat and eventually shut down.
The company no longer sells on Amazon and faced some delays in delivering products to Kickstarter backers.
Despite the challenges, Nomiku had lifetime sales of $8 million.
Unfortunately, Nomiku ceased its operations in December 2019, just three years after their episode aired on Shark Tank.
Nomiku Shark Tank Net Worth (2023)
Nomiku’s net worth after the shank tank show was estimated at $2.5 million. The current net worth however is unknown, as the company ceased operations in December 2019.
Before appearing on Shark Tank, Nomiku had a business valuation of $5 million based on the founders’ valuation. During their appearance on the show, Nomiku received a $250,000 investment from guest shark Chris Sacca in exchange for a 10% stake, valuing the company at $2.5 million.
However, despite the investment and initial success, Nomiku faced financial difficulties and ultimately shut down their operations in 2019
Nomiku Competitors
Nomiku’s main rival in the market is Sansaire, which also produces a sous vide immersion circulator for home cooks.
However, Nomiku has a larger capacity. Other competitors include ChefSteps, Anova, SideChef, Appetites, Blue Apron, Conde Nast, Rouxbe, Cookstr, and SousVide Supreme.
Nomiku FAQS
Who are the founders of Nomiku?
Abe and Lisa Fetterman, a married couple with a background in culinary arts, were the founders of Nomiku.
What happen to Nomiku at the Shark Tank pitch?
Nomiku left the Shark Tank in Season 8 Episode 10 with a deal of $250,000 for 10% ($2.5 million valuation) from guest shark, Chris Sacca.
What Is Nomiku’s Current Status And Valuation
Nomiku ceased operations in December 2019, and its current net worth is unknown. The company received a $250,000 investment from guest shark Chris Sacca in exchange for a 10% stake, valuing the company at $2.5 million.
Nomiku also raised $875,000 in seed funding and another $2 million in 2015. Despite these investments, Nomiku faced financial difficulties and struggled to compete in the crowded sous vide market.
The company shut down both its WiFi Sous Vide Smart Cooker and prepared meal service. Lisa Fetterman, the founder and CEO of Nomiku, wrote an email to customers announcing the closure of all operations.
Despite the company’s initial success, it faced financial difficulties and struggled to compete in the crowded sous vide market.
Why did Nomiku go out of business?
Fetterman indicated that for long-term survival, the company would need to raise capital and that that was going to be challenging in today’s environment.
Is Nomiku still in business?
They ceased operations in December 2019.
What is Nomiku?
Nomiku is a sous vide immersion circulator that allows home chefs to cook vacuum-sealed food in a water bath at low temperatures.
When was Nomiku aired on Shark Tank?
Nomiku appeared on Season 8 (Episode 10) which aired on 2 December, 2016.
What is sous-vide cooking?
Sous-vide (French for “under vacuum”) is a method of cooking in which food is put in a plastic bag and sealed before being placed in a water bath heated to a precise temperature.
This helps the food to cook evenly and retain moisture.
Which episode did Nomiku aired on Shark Tank?
Nomiku made an appearance on Shark Tank season 8, episode 10.
How much did Nomiku raise at the Shark Tank pitch?
Chris Sacca offer of $250,000 in exchange for 10% ownership
Which Shark made a deal with Nomiku?
Chris Sacca invested in Nomiku
Which year was Nomiku founded?
Nomiku was founded in 2012
