Sweet Ballz Shark Tank Net Worth
James McDonald and Cole Egger appeared on Shark Tank, a television show where entrepreneurs pitch their business ideas to a panel of investors, seeking an investment of $250,000 in exchange for a 10% equity stake in their startup, Sweet Ballz.
This implies that the company was valued at $2.5 million at the time of the pitch. After receiving multiple offers from the Sharks, the founders decided to accept a deal from Mark Cuban and Barbara Corcoran, who offered $250,000 in exchange for a 25% stake in the company.
This offer was based on a valuation of $1 million, which is a significant decrease from the initial valuation of $2.5 million.
What is Sweet Ballz and Who Founded Sweet Ballz?
Sweet Ballz is a type of thick, fudgy ball covered in icing.
It was created by James McDonald and Cole Egger, two young men from Dallas. McDonald’s had been making cake balls for friends and family for several years, and they eventually expanded their distribution to over 5,000 retail stores nationwide.
In June 2013, Sweet Ballz held a fundraiser for testicular cancer, which prompted some Dallas-area news sites to speculate if it was a hoax. However, the company has a robust business strategy and distributes its products through thousands of 7-11 locations.
Although Sweet Ballz’s website does not have an online purchasing system, it was announced in March 2013 that the products are available at 7-11 stores. James McDonald and Cole Egger founded Sweet Ballz.
Sweet Ballz Shark Tank Pitch
James McDonald and Cole Egger appeared on Shark Tank in Season 5, Episode 1, seeking a $250,000 investment in exchange for 10% equity in their start-up, Sweet Ballz, based in Dallas, Texas.
The Sharks were intrigued when they learned that the product had already generated $700,000 in sales over the previous three months, primarily through a distribution agreement with over 5,000 7-11 stores throughout the United States.
The Sharks made several investment offers, including a $250,000 offer from Barbara for 40% of the company, a $250,000 offer from Kevin for 30% with a monthly dividend, a $250,000 offer from Lori for 36%, a $250,000 offer from Robert for 25% with the potential for Costco distribution, and a joint offer from Robert, Lori, and Kevin for $250,000 in exchange for 30% equity.
In the end, James and Cole chose to accept an offer from Mark and Barbara, but their partnership quickly fell apart following the episode’s airing. James sued Cole for control of the Sweet Balls website, which Cole had redirected to a competing site.
Despite the legal drama, Sweet Ballz continued to operate and expanded into food service distribution and co-packing, with an estimated annual revenue of $5 million as of August 2021. They currently offer three flavors of cookie cake balls and recommend consuming them within three weeks or freezing them for up to a year.
Sweet Ballz Net Worth
James McDonald and Cole Egger approached the Sharks seeking a $250,000 investment in return for 10% stock.
This indicates a valuation of $2.5 million. They accepted an offer from Mark and Barbara of $ 250,000 for 25% stake which is valuation to be $1 million.
Sweet Ballz Competitors
Sweet Ballz’s top competitors include Amazeballz, Porch Swing Desserts and Cake Ball.
Sweet Ballz FAQS
Is Sweet Ballz still in business?
The company is still operating as of August 2021. They specialize in food service distribution and also operate a co-packing facility.
What are shark tank’s Sweet balls?
Sweet Ballz is a brand of “thick, fudgy spheres coated in icing” developed by two young Dallas men, James McDonald and Cole Egger.
They collaborated on a Shark Tank proposal. Mark Cuban and Barbara Corcoran, investors, stated that they would pay them $250k for a 25% stake in the firm.
Who owns Sweet Ballz?
Sweet Ballz is a brand of “thick, fudgy spheres coated in icing” developed by two young Dallas men, James McDonald and Cole Egger.
They collaborated to offer their business to Shark Tan.
What happened to Sweet Ballz?
Two firms survived once the dust settled: The Cake Ball Company and Sweet Balls.
The company is still operating as of August 2021.
They specialize in food service distribution and also operate a co-packing facility.
Where is Sweet Ballz located?
The company is based in Dallas, Texas.
How much did Sweet Ballz cost?
A variety six-pack (that’s 24 cake balls) sells for $33.
Is Sweet Ballz gluten free?
It appears that Sweet Ballz is in fact gluten-free. But, they should always check with the company first.
Is Sweet Ballz Kosher?
Sweet Ballz does not appear to be Kosher certified.
My Sweet Ballz just arrived, how many days shelf life do they have?
Their Sweet Ballz have a one-year shelf life when stored frozen. When customers receive their shipment, they should consume it within three weeks of receipt for the optimum taste effects.
Can they put the Sweet Ballz in the freezer when they arrive?
Sweet Ballz will deliver itself to their doorstep at around room temperature. It is acceptable to refreeze the Sweet Ballz, however the product may dry out and the flavour profile may vary.
How do they ship their product?
Their product is shipped in a thermal cooler. Occasionally, their shipments will include dry ice to keep the goods chilled.
Where do they make their money?
Sweet Ballz makes money through the sale of their goods, which they can sell wholesale to food service operators and retail outlet owners.
Why James McDonald did sues Cole Egger?
According to the complaint, Egger seized control of the Sweet Balls website, then redirected visitors from there (Sweetballz.net) to a new domain Cakeballz.com (now defunct).
McDonald also sought a temporary restraining order and permanent injunction against Egger’s sale of “dessert balls that directly compete with product SweetBallz.”
What is the net worth of James McDonald?
Unknown.
What is the net worth of Cole Egger?
Unknown.
How does the Sweet Ballz business model work?
Sweet Ballz makes money through the sale of their goods, which they can sell wholesale to food service operators and retail outlet owners.
When was Sweet Ballz aired on Shark Tank Pitch?
Sweet Ballz was featured on season 5 episode 1 on 20th, September 2013.
