Safe Catch Shark Tank Net Worth 2023
During season 8, episode 7 of Shark Tank, Sean and Bryan presented their company Safe Catch and were seeking an investment of $600,000 in exchange for a 3% stake in the business.
This proposed valuation of $20 million caught the attention of the Sharks, who were intrigued by the potential of the company.
However, the current worth of Safe Catch is currently unknown and has not been disclosed publicly.
Despite this, the Sharks were impressed with the pitch and the innovative product that Sean and Bryan presented, which uses technology to test every fish for mercury levels before it is canned.
The Sharks recognized the potential of Safe Catch and engaged in negotiations with Sean and Bryan to try and secure a deal.
What is Safe Catch? Who are the Founders of Safe Catch?
Safe Catch is a company that specializes in producing canned wild tuna, including albacore tuna, salmon, and ahi tuna, with low levels of mercury.
They have developed a patented system that measures the mercury levels of every fish they catch, ensuring that they know precisely how much mercury is in each can.
These products come in a range of flavors and are available in cans or pouches, preserved in either oil or saltwater.
Safe Catch takes great pride in the extensive testing they conduct on each tuna fish to ensure that they have low levels of mercury before processing and packing.
The founders of Safe Catch, Bryan Boches and Sean Wittenberg, are childhood friends who started the company with the goal of providing safe and nutritious fish for their families.
Sean, who holds a degree from the University of California Davis and has management experience at Micro Analytical Systems, serves as the company’s president. Bryan, a graduate of the University of Pennsylvania’s Wharton School of Business, is the company’s CEO.
The idea for Safe Catch came about after Sean’s mother was diagnosed with mercury poisoning from eating tuna. Sean and his father initially tried to offer their testing services to fish processors, but were met with rejection.
Bryan stepped in and suggested that they start their own brand, reasoning that if consumers were willing to pay extra for healthy organic fruits and vegetables, they should also be willing to pay for safe, low-mercury tuna.
Initially selling primarily online, Safe Catch products are now available at Wegman’s and other health-focused supermarkets.
The founders remain committed to their original goal of “bringing safe seafood to women and kids” and continue to prioritize the safety and nutritional value of their products.
Safe Catch Shark Tank Pitch
During season 8, episode 7 of Shark Tank, Sean and Bryan appeared seeking $600,000 for a 3% stake in their company, which suggested a valuation of $20 million.
They presented their story and provided samples, which caught the Sharks’ attention. Their company, Safe Catch, aims to create a safer and more nutritious way of consuming tuna.
While it costs $1.20 to produce, it sells for $2 and retails for $3 to $4. Although it’s more expensive than most grocery store brands, it’s not as pricey as other premium tuna.
Safe Catch had over 100 investors participate in their most recent round and has raised over $14 million. This money was invested in four Ph.D. physicists and three engineering/testing laboratories.
However, the investors became weary, and the company ran out of funds, preventing it from entering the retail market.
Brian then joined the company with Sean, and together they purchased it for less than a million dollars, restoring ownership.
Unfortunately, the $14 million was completely depleted, and Brian invested over $900,000, leaving the company approximately $900,000 in debt.
The Sharks were upset by this news. When Mark inquired about sales, Brian revealed that they had started in shops a year prior and had already expanded to 2,100 locations.
They made $1.25 million in their first year of business. However, they are now losing $75,000 every month, meaning they are losing money. They had lost $530,000 that year.
Kevin pointed out that their biggest issue was squandering $14 million in investor funds, and he was the first to bow out.
Robert was the second Shark to withdraw but suggested they bring their food product for a tech test. Barb was not interested, claiming that investing $14 million in a company that still loses $75,000 every month did not sound like a good deal.
Daymond questioned the value, and Mark also withdrew, citing the company’s $75,000 monthly financial burn. Lori said she would be a customer but would not invest in Safe Catch.
Although they did not get a deal on the show, the company received $5 million in venture capital from Echo Capital, Essential Investments, and a group of angel investors a year later.
Safe Catch went on to release new products, including sardines, a new line of seasoned tuna made with authentic spice mixes, Ahi canned tuna, and canned and pouched salmon.
In April 2018, pop star Nick Jonas shared a video with his 17 million Instagram followers, showing himself making his favorite post-workout snack – tuna salad, using Safe Catch.
The company also announced a collaboration with Kroger supermarket stores in June 2018, which put Safe Catch on their shelves across the country.
As of May 20, 2021, Safe Catch is still in operation and available in over 12,000 retailers across the country. It is the fastest-growing seafood brand in the country, with annual sales of $5 million.
What is the Net Worth of Safe Catch?
Sean and Bryan appeared on Shark Tank season 8 episode 7 in search of $600,000 for a 3% stake in their company. This suggests a valuation of $20 million.
The current worth of the Company is unavailable.
Who are the Competitors of Safe Catch?
Safe Catch’s main competitors are Tradex Foods, Aleph Farms, Solar Foods, and Wild Planet Foods.
Safe Catch FAQS
What is Safe Catch?
Safe Catch is a company that produces low-mercury canned wild tuna, albacore tuna, salmon, and ahi tuna.
It knows precisely how much mercury is in each tuna can because it has a patented system that checks the mercury levels of every fish it catches.
Who are the owners of Safe Catch?
The founders of the firm are Bryan Boches and Sean Wittenberg.
How much were they seeking in the Shark Tank?
The firm asked Mark Cuban for $600,000 for 3% of the company. This suggests a valuation of $20 million.
Did they get the deal from the Sharks?
No. all the Sharks declined to offer them an investment.
Is Safe Catch still in business?
Safe Catch is still in operation, with its headquarters in Sausalito, California, and customers may get their favourite goods through the company’s website.
They may also get it from Amazon.com.
They are also available in over 12,000 retailers across the country.
When was Safe Catch aired on Shark Tank?
Safe Catch aired on Shark Tank season 8 episode 7, which was first aired on November 4th, 2016.
What is website address of the Company?
Their website is www.safecatch.com
Safe Catch tuna costs $1.20 to produce, sells for $2, and retails for $3 to $4.
What happened to safe catch shark tank?
The company is still in operation as of May 20, 2021. They are available in over 12,000 retailers across the country.
The firm is the fastest growing seafood brand in the country, with an annual sales of $5 million.
Is Safe Catch legit?
Safe Catch Elite is even the American Pregnancy Association’s official tuna.
Finally, Safe Catch tuna is fished naturally and sustainably without the use of FADs or long lines.
They are an enthusiastic supporter of the Monterey Bay Aquarium’s Seafood Watch program.
Does Safe Catch tuna have mercury in it?
Safe Catch Elite Tuna is wild tuna that fulfils their strictest purity requirements.
Each and every fish is tested to a mercury content level of 0.1 parts per million, which is ten times higher than the FDA action limit.
Can they eat Safe Catch tuna every day?
Tuna is high in protein, good fats, and vitamins, however it should not be taken on a daily basis.
Adults should consume 3–5 ounces (85–140 grams) of fish 2–3 times a week to receive enough omega-3 fatty acids and other beneficial elements, according to the FDA (10).
What are their tuna and salmon cans made out of?
Their cans are composed of tin-free stainless steel. The can liner is comprised of an organosol resin that does not contain BPA.
What are their sardine tins made out of?
Their tins for sardines are constructed of tin-coated steel (tinplate).
The can lining is constructed of organosol resin, which is free of BPA or has had BPA intentionally added to it.
What are their mackerel tins made out of?
Their wild mackerel is hand packaged into recyclable aluminium cans that are easy to open.
These cans and liners are not produced with BPA or have BPA intentionally added to them.
Why is Safe Catch Elite Tuna cheaper?
They want everyone to be able to consume their most pure wild tuna.
Are their items Kosher certified?
The Orthodox Union oversees the production of all of their products.
The Union of Orthodox Jewish Congregation of America has recognized them as Kosher.
What is the product’s shelf life?
Their tuna and salmon cans have a three-year best by date from the date of packing, which is normally 2-3 months before they are sold at retail. Each can has the best by date written on it.
What is the net worth of Bryan Boches?
Bryan Boches’s net worth is unavailable.
What is the net worth of Sean Wittenberg?
Sean Wittenberg’s net worth is unavailable.
Who is the CEO of Safe Catch?
Bryan Boches is the CEO of the Company.
