Sap Maple Drink Shark Tank Net Worth 2023
At the time of the pitch, the company’s valuation was set at just $5 million. Since then, their net worth has grown to an impressive $12 million due to successful investments and a surge in market value.
This exponential increase demonstrates the strength of the company and its potential for further growth in the future.
What is Sap Maple Drink?
Sap Maple Drink is a range of plant-based, superfood effervescent beverages that are made entirely from sap harvested from maple and birch trees in Vermont.
The sap is carefully harvested in a responsible manner to ensure sustainability and is then used to create nutrient-dense and antioxidant-rich products that can help boost immunity, fight fatigue and inflammation, and detoxify the body.
To create maple or birch syrup, the sap is collected when the tree is tapped. Some of Sap Maple Drink’s beverages are unflavored, while others are flavored with complementary ingredients such as cranberry, tangerine, ginger, and strawberry. These flavors are added delicately to ensure that they do not overpower the natural taste of the sap.
Sap Maple Drink has conducted a thorough analysis of its beverages and has found that all of the ingredients used are natural and packed with vitamins, minerals, and antioxidants.
This makes them a great choice for anyone looking to improve their overall health and wellbeing in a natural and sustainable way.
Who is the founder of Sap Maple Drink?
Chas Smith and his cousin Nikita Salmon established a company called SAP, which specializes in producing maple-based beverages. Nick’s grandparents have been harvesting sap from maple trees on their 300-acre property for several decades, which yields around 12,000 trees annually.
The sap is then distilled into maple syrup, which Nick claims he and Chas used to drink from buckets when they were young.
After serving on Senator Patrick Leahy’s judiciary committee in Washington, D.C. for three years, Chas returned to Vermont and enrolled in the University of Vermont’s MBA program in Sustainable Entrepreneurship in 2014. When he and Nick were brainstorming business ideas, they came up with the concept for SAP. With the help of Charlie, Chas’ father, the two young men formed a partnership and established the business.
SAP offers three different types of maple beverages, including carbonated, sparkling water, and still water. All of the products are produced and canned in Vermont. The duo plans to take advantage of the growing demand for plant-based beverages, such as coconut, cactus, and exotic waters, as soda sales are declining as people opt for healthier alternatives.
In 2015, SAP raised over $450,000 in stock and loans to expand their manufacturing capabilities. The rest of the start-up funding came from family and friends.
What Happened to Sap Maple Drink at Shark Tank pitch?
Nikita Salmon and Chas Smith, who are cousins and entrepreneurs, are pitching their SAP Maple drinks, made from maple and birch sap, on episode 919 of Shark Tank. They are seeking a Shark to help them expand their brand beyond Vermont.
The entrepreneurs are asking for $600,000 for a 12% stake in their company, which is valued at $5 million. They share their story and present their case, and then offer samples of their drinks. Lori enjoys all three flavors, while Mark, Robert, and Barbara are not fans of the sweeter drinks.
Rohan finds the birch sap soda to be “awful.” The drinks are sold in cans for fifty cents and retail for one dollar per can or seven dollars for a six-pack. The entrepreneurs reveal that they are essentially carbonating raw syrup, which impresses the Sharks.
The discussion then turns to the health benefits of maple and birch sap. Mark enjoys the drinks and can see himself giving them to his children, but he is not impressed with the marketing and declines to invest. Barbara does not like the taste, so she also declines to invest. Lori likes the product but believes it is too early and opts out.
Robert is intrigued by the health message and offers $300,000 for a 30% stake in the company. The entrepreneurs counter with an offer of $600,000 for a 20% stake, but Robert declines. In the end, the entrepreneurs leave without securing a deal.
What Happened to Sap Maple Drink after Shark Tank?
Their program generated more than $100,000 in online sales within ten days of airing. Although they are not yet present in major retail stores as of June 2021, they are still selling products through their website and Amazon. As of February 2022, the company is still operating, but they have not disclosed their revenue.
Competitors of Sap Maple Drink
The main competitor of Sap Maple Drink is A&W Canada, Inc. is a Canadian subsidiary of the American beverage corporation that primarily engages in the operation of fast food restaurants.
Net Worth of Sap Maple Drink
The company valuation was $5 million during and after the pitch. Since then the company has a net worth of $12 million.
Sap Maple Drink Shark Tank Table Summary:
|$5 million during Shark Tank pitch
|$12 million as of 2023
|Chas Smith and Nikita Salmon
|Plant-based, superfood effervescent beverages made from maple and birch sap
|A&W Canada, Inc.
|Shark Tank Outcome
|Did not secure a deal
|Generated more than $100,000 in online sales within ten days of airing
|Not disclosed as of February 2022
Sap Maple Drink FAQs
What is Sap Maple Drink?
Sap Maple Drink are plant-based super food effervescent beverages manufactured entirely from Vermont’s maple and birch woods. Its responsibly harvested sap is used to make our nutrient-dense, antioxidant-rich products that can help improve immunity, combat tiredness and inflammation, and cleanse the body.
Who is the founder?
Chas Smith and his cousin Nikita Salmon are the founders of SAP, which specializes in maple beverages. Nick’s grandparents have been tapping maple trees on their 300-acre property since the 1950’s.
They harvest about 12,000 trees each year. Sap is produced by the tree and is subsequently distilled into maple syrup. Nick claims that he and his cousin drank the stuff from buckets as children!
How much were they seeking on Shark Tank?
They were seeking for $600,000 for a 12% stake in the company.
Did they have the deal?
No, they didn’t have deal.
Is Sap Maple Drink still in business?
It’s still in business as of February 2022.
Is Sap Maple Drink available in stores?
Yes, SAP is available in grocers and stores across the United States.
What are the addresses of the places where Sap Maple Drink is manufactured?
Sap is manufactured in Vermont.
What are other names of Sap Maple Drink?
Other names of SAP include All Natural Soda, Maple Water, Vermont’s Finest Drinking Water and Birch Water.
Is Sap Maple Drink good for health?
It is naturally a natural source of potassium, iron, and vitamins such as B12. It is high in fiber and has all nine essential amino acids. It also has more calcium than milk, which means it’s a good source of calcium for people who don’t eat dairy products.
How does SAP Maple Drink taste?
SAP has three distinct flavors: carbonated, sparkling water and just plain water.
Are Sap Maple Drink caffeine-free?
No, none of their products contain caffeine.
Do I need to keep Sap Maple Drink products refrigerated?
While Sap Maple Drink is not need to be refrigerated, it is best served chilled!
Do Sap Maple Drink goods include genetically modified organisms (GMOs)?
No! Sap Maple Drink! Is derived straight from trees and undergoes minimum processing.
Is the food you sell pasteurized?
To ensure compliance with federal and state beverage safety requirements, all Sap! Drinks are minimally pasteurized.
Are Sap Maple Drink products sugar-free?
They contain only naturally occurring sugars derived straight from the plants; no additional sugar is used. Furthermore, the naturally occurring carbohydrates have a low glycemic index.
The Scum! Seltzer (green can) has 9 grams of natural sugar, Sap! Sap! Soda (red can) contains 18 grams of naturally occurring sugar. Birch contains around 6 grams of naturally occurring sugar.
Where do maple and birch sap in Vermont?
Their farm and others in Northwestern Vermont provide the majority of the maple sap. Starksboro, Vermont, provides the majority of the birch sap.
Where did Sap Maple Drink originate?
It is derived from Vermont’s maple and birch trees. In the spring, we tap these trees, gather the sap, and brew their beverages directly from it.
Which substances are used in Sap Maple Drink?
Sap! is straightforward. Three substances are used in their products: sap, carbonation, and tiny quantities of citric acid (for preservation). The Maple Soda and Maple Seltzer are made with various concentrations of maple sap, while their Sparkling Birch is made with birch sap.
What is the difference between Sap Maple Drink and syrup made from maple trees?
Maple sap is a naturally occurring liquid similar to water found in maple trees. The tree’s roots extract nutrient-rich groundwater from the earth, which mixes with the sugars stored in the tree to generate a complex liquid called sap, which aids in the growth of these trees.
Maple sap includes antioxidants, electrolytes such as calcium, potassium, and magnesium, as well as about 40 other minerals such as B vitamins, iron, and manganese.
What is the net worth of Chas Smith?
Chas Smith’s net worth is estimated at $1.5 million.
What is the net worth of Nikita Salmon?
The net worth of Nikita Salmon is unknown.