Souper Cubes Shark Tank Networth 2023
Souper Cubes Shark Tank Networth
Souper Cubes is a consumer goods company that appeared on Shark Tank in Season 12 in February 2020. The company valuation was $8 million during and after the pitch. The founders, Jake and Michelle Sendowski, asked for $400,000 in exchange for 5% equity of the company.
After Lori Greiner’s deal matched the founders’ original valuation, Souper Cubes is now worth $8 million.
The company had a lifetime sale of $2 million before appearing on Shark Tank, and after their episode aired they made a whopping $938,000 in revenue within 24 hours.
Souper Cubes has since seen worldwide distribution and released more options and sizes to cater to customer demand.
As of 2023, the company is still family-owned by the Sendowskis and their business partner with Lori Greiner having a 5% stake in the company.
What is Souper Cubes? Who is the founder of Souper Cubes?
Souper Cubes is a convenient food storage device designed to simplify the portioning and storage of soups, broths, and leftovers.
It takes the form of a large ice tray but is made of food-grade silicone material, making it easy to remove frozen pieces for reheating.
The Souper Cubes tray is composed of BPA-free and food-grade silicone that is safe to use in the freezer and oven. The lid is made of food-grade polypropylene plastic, which is also BPA-free.
Michelle Strausman and Jake Sendowski founded Souper Cubes in 2017 in California. Michelle developed the idea for the product when her family needed an efficient method of storing leftover chicken stock.
Souper Cubes come in various sizes, from 2 tablespoons to 2 cups. The original design is a single-serving cup in an aqua hue that sells for $19.95 per pack.
The frozen tray is available in a variety of quantity sizes, and the patented items are simple to use. It consists of a blue silicone tray with a cover, which is compatible with all tray sizes.
The 2-tablespoon frozen tray with a lid costs $31.99 for a two-pack. The Ultimate Gift Set, which includes all tray sizes and lids, costs $69.99.
In addition, Souper Cubes has released “The Cookie Tray” for storing cookie dough, which costs $29.95 per set and comes with a lid. On Amazon, a single tray costs $19.95, while a two-pack costs $36.99.
Souper Cubes Shark Tank Pitch
In episode 1214 of Shark Tank, Jacob and Michelle Sendowski presented their Souper Cubes, which are portion-controlled silicon freezer trays.
They were seeking a Shark’s assistance in growing their distribution and offered $400,000 in exchange for a 5% stake in their $8 million company.
During their presentation, Jacob and Michelle shared their stories and provided free samples, impressing the Sharks with their profit margins and sales figures of $1.6 million in 2020.
They explained that Amazon accounted for around 80% of their sales and that they needed the investment to improve marketing and scaling the company.
The Sharks made several offers, including two from Kevin: $400,000 for 3% equity shares with a $0.40 royalty per unit sold and $400,000 for 15% equity shares with no royalty. Barbara also made two offers: $400,000 for 10% equity and $800,000 for 20% equity.
Mark Cuban praised the name “Souper Cubes” but declined to invest. Kevin revised his offer to $400,000 for 3% equity shares plus a $0.40 royalty per unit until the full payment of $1 million was made.
The offers continued to decrease until Lori made a “golden ticket” offer, agreeing to invest $400,000 for a 5% equity stake, which Jacob and Michelle accepted.
After the show aired, the company almost sold out of products, and their revenues for the first three months of 2021 were on track to triple 2020’s revenues.
As of January 2022, the company is still in business and has annual revenues of $3.3 million. The episode is now being re-aired for the first time, and the deal with Lori has been completed, with the company listed on her website.
Net Worth of Souper Cubes
The company valuation was $8 million during and after the pitch. As of January 2022 the company net worth might be higher than that.
Souper Cubes Shark Tank Updates
Souper Cubes is a company that produces portion-controlled silicone freezer trays for storing leftovers. The company appeared on Shark Tank Season 12 Episode 14 and landed a deal with Lori Greiner, who invested $400,000 for 5% equity in the company. Souper Cubes’ valuation is now estimated at $8 million dollars.
The company had a lifetime sale of $2 million in Shark Tank Season 12 February 2021, and the product was sold for $938K within 24 hours of the show. With the help of Lori, Souper Cubes was able to expand internationally to Canada, Mexico, and Europe.
In an update segment in episode 1322, Souper Cubes reported that they did $938,000 in sales in the 24 hours after the original air date. The company has also been active on social media, sharing pictures of their customers’ culinary creations.
Souper Cubes has been successful in solving the messy and often wasteful process of freezing and storing leftovers, and their product has received positive reviews from customers.
Souper Cubes Shark Tank Table Summary:
| INFORMATION | VALUE |
| Investment asked for | $400,000 for 5% equity |
| Valuation after Lori’s deal | $8 million |
| Lifetime Sales before Shark Tank | $2 million |
| Revenue within 24 hours of pitch | $938,000 |
| Founder(s) | Michelle Strausman, Jake Sendowski |
| Year founded | 2017 |
| Product | Portion-controlled silicone freezer trays |
| Product price range | $19.95 – $69.99 |
| Shark Tank episode | Season 12 Episode 14 |
| Shark that invested | Lori Greiner |
| Annual Revenue (January 2022) | $3.3 million |
| Product | Portion-controlled silicone freezer trays for storing leftovers |
| Valuation during Shark Tank | $8 million |
| Shark Tank Deal | Lori Greiner invested $400,000 for 5% equity in the company |
| Souper Cubes Net Worth | Estimated to be higher than $8 million as of January 2022 |
| Lifetime Sales Before Shark Tank | $2 million |
| Revenue After Shark Tank | $938,000 in 24 hours, with the first three months of 2021 on track to triple 2020’s revenues |
| International Expansion | Souper Cubes expanded to Canada, Mexico, and Europe with the help of Lori Greiner |
| Other Products | “The Cookie Tray” for storing cookie dough |
| Current Status | Souper Cubes is still family-owned by the Sendowskis and their business partner with Lori Greiner having a 5% stake in the company. |
Souper Cubes FAQs
What Is Souper Cubes And How Does It Work?
Souper Cubes are silicone molds designed for freezing food in perfect pre-sized portions. They come in 1/2-cup, 1-cup, and 2-cup sizes, as well as a 2-tablespoon size.
The molds and lids are made from 100% food-grade silicone and are BPA-free. They are dishwasher and oven safe, but the lids are not oven safe.
Once the food is frozen, it is in perfectly portioned little rectangles or squares, making it easy to transfer to a reusable ziplock bag and stack in the freezer.
Souper Cubes are good for anyone who likes to cook, including meal preppers. They are perfect for storing leftovers, batch cooking, and freezer meal prep.
They can be used to freeze foods like soups, stews, broth, sauces, rice, raw meat, shredded meat, and chilis. Several commercial kitchens, including farms, commercial dairy companies, meal prep companies, and restaurants, have used Souper Cubes for portioning stews and soups, packing butter, and more.
Souper Cubes were created by Michelle and Jake, a wife and husband team. They are a high-quality product that can greatly reduce food waste and costs by allowing you to make and enjoy many more delicious meals at home.
They are sturdy and have a stiff rim on the tray and equally rigid plastic lid that gives them structure, so they don’t squish or spill.
While regular plastic or glass food storage containers can be used to freeze food, Souper Cubes make it a little easier without requiring a fleet of regular containers to freeze and store.
Who is the founder?
Jake Sendowski and Michelle Strausman founded Souper Cubes in 2017 in California. Michelle came up with the idea for Souper Cubes when her family cooked a large pot of chicken stock and needed a more effective way to preserve the excess chicken stock.
What Was The Outcome Of Souper Cubes Shark Tank?
Souper Cubes appeared on Shark Tank and landed a deal with Lori Greiner, who offered $400,000 for 5% equity in the company.
Souper Cubes accepted the offer, and Lori Greiner awarded them her “Golden Ticket,” meaning it was the best company she had seen all season.
After the episode aired, Souper Cubes made $938,000 in sales in the first 24 hours and had to stop taking orders because they ran out of inventory.
Since appearing on Shark Tank, Souper Cubes has continued to grow. Its annual revenue is around $3 million, and lifetime sales are $14 million. Thanks to Lori Greiner’s deal, which matched the founders’ original valuation, Souper Cubes is now worth $8 million.
The company has also received overwhelming feedback from customers, proving the enormous “Shark Tank” effect of the TV show.
Jake and Michelle Sendowski, the founders of Souper Cubes, used their strengths and weaknesses to create a successful product. Jake has a master’s degree in electrical engineering from the California Institute of Technology, and Michelle is an educator who graduated from UCLA.
They used their own money to fund the startup and worked with various partners to get distribution. The products became available in all Sur La Table and Williams-Sonoma US locations, and they made $940,000 in revenue for 2019.
How Much Did Souper Cubes Make In Sales After Appearing On Shark Tank?
Souper Cubes made $938,000 in sales in the 24 hours following their Shark Tank episode’s airing, entirely selling out their stock. Since then, the company has continued to grow and increase its retail presence, with the majority of their sales coming from their official website and Amazon.
As of 2022, Souper Cubes is reporting lifetime sales of over $14 million. Additionally, Souper Cubes’ value is now estimated at $8 million dollars after making a deal with Lori Greiner, who matched the original valuation of the founder.
How much were they seeking on Shark Tank?
Souper Cubes entered the Shark Tank with a mere $8 million valuation. They were seeking a deal for $400,000 for 5% equity shares of their company.
Is Souper Cubes still in business?
Yes, the company is still in business since the deal with Lori.
What material are Souper Cubes composed of?
Their trays are manufactured entirely of food-grade silicone approved by the US Food and Drug Administration and are BPA-free. Their lids are constructed of BPA-free Polypropylene Plastic (PP).
How are Souper Cubes manufactured?
Souper Cubes are created in California and manufactured in China in a plant that adheres to fair labor standards and maintains a safe working environment.
Are Souper Cubes free of BPA?
Yes, both the trays and lids are free of BPA.
Is Dishwasher safe Souper Cube trays?
The trays and lids are both dishwasher safe. After each use, they recommend cleaning their Souper Cubes trays and lids in the dishwasher (on a regular cycle). This is the most effective method for keeping their Souper Cube as clean as possible.
Is it safe to microwave Souper Cubes?
Yes, however they strongly advise against microwaving their trays. However, if the steel rim is exposed in any way, the trays become unsuitable for microwave use. If anyone microwaves their Souper Cubes, the warranty will be voided. Rather than microwaving their meal in the Souper Cubes trays, they recommend removing and reheating the frozen cubes individually.
Can I bake Souper Cubes?
Yes, their Souper Cubes may be used to bake. The trays are oven safe to 415 degrees Fahrenheit. The lids are not suitable for use in the oven.
Can Souper Cubes be stored in my refrigerator or freezer?
Yes, the shelves of the majority of ordinary freezers will accommodate their trays.
Are Souper Cubes worth the investment?
Yes, but don’t take it from them. Follow #SouperCubes on Instagram to discover how Souper Cubes consumers throughout the world are enjoying their purchases.
What colors are available for Souper Cubes?
The majority of Souper Cubes trays are aqua, but they also offer limited edition hues. See which colors are presently available on their goods page!
How do you handle returns?
Their return policy is detailed on their returns policy page
Is it possible to cancel my order?
As a family-owned firm with a tiny staff, Souper Cubes is unable to provide 24-hour customer assistance. Please send them an email if they wish to cancel their order. They may be able to cancel their order if they get the email before the end of the day, but this is not guaranteed.
If they purchased Souper Cubes from another website, they must contact that website’s customer service to cancel their order.
Which countries does Souper Cubes ship?
They ship everywhere in the United States of America and its territories. To understand how to purchase Souper Cubes outside the United States, visit their non-US customer’s page.
How much is delivery for Souper Cubes?
On all orders, they subsidize shipping so that customers only pay a tiny fraction of the overall shipping expenses.
They provide free standard delivery on all qualified orders over $50. For additional information, please see their free shipping policy page.
Standard delivery is $4.99 for orders under $50 inside the continental United States. Standard delivery is $11.99.
What is the net worth of Michelle Sendowski?
The net worth of Michelle Sendowski is not known
What is the net worth of Jake Sendowski?
The net worth of Jake Sendowski is not known.
