Slice of Sauce Shark Tank Net Worth 2023
Slice of Sauce Shark Tank Net Worth
Slice of Sauce is a company that sells dehydrated condiments packaged into convenient slices. In 2021, the company was worth $2 million when it entered the Shark Tank show. As of 2022, Slice of Sauce’s net worth is estimated to be around $2 million.
Alex Rodriguez offered them a deal of $200,000 as a convertible note, which would convert to 15% equity when their sales reach $1.8 million.
The exposure from the Shark Tank show led to more sales than the owners had expected and they were unable to keep up with demand.
What is Slice of Sauce? Who is the founder of Slice of Sauce?
Slice of Sauce is a unique condiment that guarantees a robust flavor and ideal balance, ensuring that you savor every bite.
It not only guarantees that each bite has the right amount of taste, but it also avoids messy spills that you often get with regular condiments.
In addition, Slice of Sauce is shelf-stable, which means it doesn’t require refrigeration. The creators of this innovative product are Cole and Emily Williams.
Cole was previously a fitness instructor and personal trainer before co-founding the company, while Emily worked in an apparel company and later as an associate at Oppenheimer. The couple is now in charge of running the operations of Slice of Sauce.
Emily’s father’s ancient barbecue sauce recipe was the inspiration for Slice of Sauce. Emily tried to replicate it, but ended up with a pile of cooked vegetables that she had to discard.
However, instead of wasting the cooked veggies, she ground them up and baked them, which resulted in a dried sheet of sauce that would eventually become Slice of Sauce.
These slices are a convenient way to carry ketchup while on-the-go, whether you’re camping or hiking. They’re square-shaped, like a slice of American cheese, and come in 8-pack packets.
The shelf-stable “sauce” can last for up to a year in your pantry without refrigeration. It is available in two varieties: classic ketchup and spicy sriracha. Each pack is priced at $5.99 and can be pre-ordered from their website.
In 2017, they launched a successful Kickstarter campaign that raised $30,090, allowing them to launch the company.
Since then, they have promoted their product at culinary festivals and were finalists in Naturally Austin’s Pitch Slam.
Slice of Sauce Shark Tank Pitch
Cole and Emily Williams, in search of an investor for their unique ketchup and sauce slices called Slice of Sauce, appeared on the 10th episode of the 12th season of Shark Tank.
They were seeking $200,000 for a 10% stake in their company, which they valued at $2 million.
The duo presented their story and provided samples to the Sharks, who enjoyed the flavor but expressed concerns about the high cost and whether customers would be willing to pay for it.
As the company was in its early stages, Cole and Emily stated that they could reduce costs by finding a co-packer.
Despite the skepticism of most Sharks, Alex expressed interest in the product, recognizing its potential as an excellent marketing tool since the slices don’t require refrigeration.
Alex offered a $200,000 convertible loan that would convert to a 15% ownership stake when sales exceeded $1.8 million. The couple accepted the offer, and the deal was struck.
The episode was rerun in March 2021, less than two months after its original air date. However, it was later revealed that the deal with Alex was never completed, and the company continues to operate as of December 2021.
Competitors of Slice of Sauce
Heinz is one of the brands that Slice of Sauce would have to compete with. Slice of Sauce would have to compete with other sauces inside Heinz, such as mustard and mayonnaise.
Net Worth of Slice of Sauce
The company was valued at $2 million during the pitch, after the investment done by Alex the company worth $1 million. Since then the company is still operating and hence the net worth might had increased.
Slice of Sauce FAQs
What is Slice of Sauce?
Slice of Sauce is a condiment that adds powerful flavor and perfect balance, ensuring that you never miss out.
It not only ensures that each mouthful has an appropriate quantity of taste, but it also helps to keep your fingertips clean, so say goodbye to splattered condiments.
Furthermore, they are shelf-stable, which means they do not require refrigeration.
Who is the inventor?
Slice of Sauce is a product of Cole and Emily Williams.
How much were they asking on Shark Tank?
They were asking for $200,000 for 10% stake of their company at valuation of $2 million.
Did they have the deal?
Yes, they did with Alex Rodriguez.
How much was the deal?
Alex Rodriguez offered $200,000 as a convertible loan that converts to 15% ownership when sales exceed $1.8 million.
Is slice of Sauce still in business?
Slice of Sauce is open and operating. When the husband-and-wife pair submitted their concept, Alex Rodriguez backed them up, promising to provide $200000. The company’s visibility also resulted in significantly more sales than the couple had anticipated.
What is the Slice of Sauce Business Model?
Slice of Sauce was created by Cole and Emily Williams. Cole worked as an instructor and personal trainer before co-founding the firm, while Emily worked at an apparel company and then as an associate at Oppenheimer. The couple is presently in charge of Slice of Sauce’s operations.
How much is the product?
Each slice of ketchup or sauce from Slice of Sauce costs $5.99 and may be ordered on the company’s website.
How much does a slice of Sauce cost?
Slice of Sauce is presently available in eight-slice packs in varieties such as conventional ketchup, spicy sriracha, Frank’s red hot slices, and secret aardvark slices. The price of each bundle is $5.99.
What is the origin of the slice of Sauce?
Emily and Cole Williams of Austin, Texas, have created a ketchup slice. That’s correct, a slice. There is no mess, no leak, and no soggy bread. Slice of Sauce was created partially by chance.
Where do I buy Slice of Sauce?
Customers can buy slice of sauce online at their website.
How many calories are there in a slice of Slice Sauce?
Slice of Sauce contains zero calories.
Is Slice of Sauce a vegan?
Slice of Sauce is not a vegan product.
How does Slice of Sauce taste?
Slice of Sauce offers a flavor that customers love, whether they use it as a condiment or they add it to their recipes.
How do you use Slice of Sauce?
Slice of Sauce is so versatile that it is capable of adding taste to any dish you desire. If one want to add a flavorful kick, then go ahead and try some slice of sauce on their fries, chips, or even their burgers.
Is Slice of Sauce safe?
Slice of Sauce is manufactured in a facility that is certified GFSI and in compliance with FDA regulations.
What are slice of Sauce secret ingredients?
Along with the Aardvark Sriracha Sauce, there’s maple syrup and garlic.
Does Slice of Sauce expire?
Slice of Sauce does not expire.
Is slice of Sauce a healthy alternative?
Slice of sauce is a healthy alternative to regular ketchup and it has 5 calories per serving.
What are the benefits of Slice of Sauce?
It does not require refrigeration, which reduces the refrigerator’s energy consumption. In addition, it is available for purchase in smaller quantities compared to most condiments, thus reducing packaging waste. Finally, it helps keep the hands clean.
What is the net worth of Cole Williams?
Cole Williams is estimated to be worth $1.5 million.
What is the net worth of Emily Williams?
Emily Williams is estimated to be worth $850,000.