Soupergirl Shark Tank Update| Soupergirl after Shark Tank
What is Soupergirl?
Soupergirl is a company that produces soup with fresh ingredients, no preservatives, and no additives.
The soups are made in small batches. It is available in a number of flavors, the most popular of which being pumpkin bisque.
Soupergirl is produced with just the freshest and healthiest ingredients, free of the additives and chemicals found in standard soups.
Soupergirl was established by Marilyn and Sarah Polon, a mother-daughter duo. Sarah Polon earned a bachelor’s degree from the University of Pennsylvania.
Before becoming the CEO of Soupergirl, she worked as a stand-up comedy and as a senior program director for Authentic Israel. Marilyn is a self-taught cook.
Who is the founder of Soupergirl?
Soupergirl was founded by Marilyn and Sarah Polon, a mother-daughter duo. Sarah Polon earned a bachelor’s degree from the University of Pennsylvania.
In 2008, the mother-daughter duo launched their firm. At the moment, they operate two brick and mortar sites, a home delivery service, and retail distribution.
Soupergirl is available at over 50 Whole Foods Market and other natural-goods stores around the east coast, as well as 20 Costco locations from Massachusetts to Washington, D.C.
Sara, a former stand-up comedian, converted to veganism some years ago. That is what drove her to establish Soupergirl. Each soup is vegan.
Black bean sweet potato chili, split pea rosemary soup, zucchini chickpea bisque, and tomato gazpacho are just a few of the flavors that will appeal to nearly every pallet.
Each week, Sara and her mother, along with more than 30 staff, prepare thousands of liters of soup. They boil them in tiny batches of around forty gallons.
At their retail outlets and as part of their Soupergirl meal programs, they sell their soups in individual containers.
A program may include between 12 and 20 soups. You may choose your own or they may do it for you. Programs can be delivered on a one-time basis or on a monthly basis.
The cost of a lunch ranges from $6.70 and $8.25, depending on the quantity of soup ordered and the frequency of delivery.
What Happened to Soupergirl at Shark Tank pitch?
Marilyn and Sara decided to pitch their firm to Shark Tank investors in order to secure funding to expand their business throughout the country. Marilyn and Sara enter the Shark Tank seeking of $500,000 for a 10% stake in their firm, which is valued at $5 million.
They describe how they got started and provide their proposal. Following that, they feed the Sharks soup. In 2016, sales totaled $1.4 million, while in 2017, they reached $2.4 million. They anticipated $3.8 million in revenue in 2018.
Margins are small, at about 5%. This is partly because they do not use co-packers and make the soup in-house. Sara is devoted to this since the soups are kosher.
Mark believes she will continue to require further funds; he exits. Kevin believes the firm is worth $5 million, less the “hundred and change” in debt; he exits.
Daymond claims that she needed to do $100,000 in order to reclaim his money; he’s out. Matt claims that the other Sharks are being overly serious, yet he continues to go out.
Lori likes the firm logo and name, but the margins are too low, and she’s out. Finally, the two walked away from the pitch without striking a deal.
What Happened to Soupergirl after Shark Tank?
Despite their failure to get a deal with the Sharks, Matt Higgins reached them within a few weeks after they aired their episode in June 2018 and offered to serve as an adviser.
Despite the Covid-19 epidemic, revenue increased to about $6.5 million in 2019. However, sales stagnated in 2020, and she shuttered her Washington, DC brick and mortar locations.
In September 2020, she closed a $2 million investment round with Chevy Chase, Maryland-based Arbor view Capital, Seth Goldman, creator of Honest Tea, and Danielle Vogel, founder of Glen’s Garden Market.
She wants to expand her production kitchen in order to increase her direct to Consumer Company and grow her grocery store presence in the first quarter of 2021.
As of November 2021, Soupergirl is available in Whole Foods Markets around the larger Washington, DC, Philadelphia, Pittsburgh, and Richmond metropolitan regions, as well as many smaller chains such as Dawson’s and Yes Markets. The company generates $9 million in annual revenue.
Sara was one of five winners in August 2021 of Kroger’s inaugural “Go Fresh & Local Supplier Accelerator,” a program that drew over 1000 applications.
After winning the Shark Tank-style competition, her Soups will be available at Harris Teeter and Kroger stores in the first quarter of 2022.
Competitors of Soupergirl
Piola Restaurant (Washington, DC), Masala Art Restaurant, and Fujimar Restaurant are Soupergirl three biggest competitors.
Net Worth of Soupergirl
During the pitch the company was valued at $5 million. Since then the company have been doing good in sales with annual revenue of $9 million. This means that the company net worth had elevated.
What is Soupergirl?
Soupergirl is a company that produces soup with fresh ingredients, no preservatives, and no additives. The soups are made in small batches.
Who is the founder?
The founders of Soupergirl are Marilyn and Sarah Polon. Sarah Polon is the CEO, while her mother is the COO.
How much were asking on Shark Tank?
They were asking for $500,000 for a 10% stake in their firm, which was valued at $5 million.
Did they get the deal?
No, they lost the deal.
Is Soupergirl still in business?
Yes, they are still in business.
How do we contact Soupergirl?
Customers can contact them on www.soupergirl.com or visit your nearest Whole Foods Markets to taste their soups.
Why did they go on Shark Tank?
They went on Shark Tank because they wanted to secure funding to expand the business throughout the country.
How much did they raise?
They raised $2 million in venture round as of October 2018 after selling shares to Chevrolet Chase, Maryland-based Arbor view Capital and Seth Goldman, founder of Honest Tea.
How much revenue do they make?
As of November 2021, they generated $9 million in annual revenue.
What is the price range?
The cost of a lunch ranges from $6.70 to $8.25 depending on the quantity of soup and frequency o delivery.
What are their core values?
Their core values are quality, integrity, and taste.
What is their business model?
The soups are made in small batches of 40 gallons, so it takes a few days to prepare. They sell the soups in individual containers, which they deliver to customers.
They do not use a co-packer because they make the soup directly in their own kitchen.
How did they get started?
They started as two friends who wanted to make signature mixtures of different types of foods that were healthy and accessible to everyone.
What is the time span of Soupergirl?
Since their beginning they have been doing great in sales. They have been growing every year and that is why they are valued at $5 million net worth.
They started in 2008 and since then they have been selling soups to customers in all over the US. They are constantly expanding so it will be hard to give them a market cap value because it will be more than one year.
What kind of soups is available?
The soups are all vegan, with lots of flavors and spices like curry, chipotle chili, and shiitake mushroom.
What is the company’s mission?
The company’s mission is to create delicious and healthy soups that are fresh and wholesome. We want to provide an opportunity for people to enjoy simple, delicious meals at home or in their workplace.
What is the net worth of Marilyn Polon?
Her net worth is unknown.
What is the net worth of Sarah Polon?
Her net worth is unknown.