What Happened to Must Love after the Shark Tank Pitch? Must Love Shark Tank Update
What is Must Love?
Must Love is a plant-based frozen dessert brand started in 2016 in Los Angeles, California. It provides excellent flavour profiles sweetened with fruit by using oats and bananas instead of chemicals.
Must Love mostly sells pints of “lovely cream” and frozen “nice cream” bars.
The pints are $12 and come in four flavours: banana, chocolate chip, cashew cookie, and double chocolate chip.
A box of four bars costs $12 and is available in four flavours: Vanilla Banilla, Chocolate, and Crunchy Peanut Swirl.
The goods also include oat milk and coconut, in addition to bananas. While they’ve made strides in distribution,
Who are the Must Love’s founders?
Must Love’s creators, Mollie Cha and Hannah Hong, are all second-generation Korean-American University of California, Berkeley grads.
Molly earned a BA in Business Administration from UC Berkeley before going on to work for Goldman Sachs and the Bill & Melinda Gates Foundation.
She left the foundation in 2013 to pursue an MBA at the MIT Sloan School of Management.
Mollie graduated in 2015 and worked in the Strategy and Innovation department of Bolthouse Farms until becoming the Principal of Malibu Design Group in 2018.
Mollie and Hannah founded Hakuna Brands in 2016, but it wasn’t until 2019 that Mollie resigned her job at Malibu Design Group to focus solely on her business.
Hannah Hong, on the other hand, obtained a BA in Business Administration from UC Berkeley and worked as an analyst and associate at Mercer before earning an MBA from UCLA Anderson School of Management in 2011.
Hannah has a long history of accomplishment, having worked as a Senior Associate at PricewaterhouseCoopers Consulting and as an Associate Brand Manager and Brand Strategy Manager at Bolthouse Farms.
Hannah, on the other hand, co-founded Must Love and has been active in the company full-time since its beginning.
According to sources, Must Love arose from a need for an alternative to frozen dessert alternatives when two ladies learned they were lactose intolerant.
After experimenting with several dairy-free alternatives, friends learned they could make a tasty ice cream out of mashed banana, almond milk, and vanilla.
So, after several trials and retries, they eventually achieved the desired taste and texture.
What Happened to Must Love at the Shark Tank Pitch?
Hanah and Mollie appeared on Shark Tank Season 13 Episode 11 in search of $600,000 in exchange for 7.5 percent of their company. This equates to an $8 million valuation.
They begin by displaying the unpleasant components included in conventional ice cream. Following that, they inform the Sharks about their plant-based ice cream and its components. They also have sprinkles made from plants.
Lori approves of the Sharks’ taste tests. The other Sharks feel the same way. The ladies discuss their histories and how they both hold MBAs. In 2017, they made $35,000 in sales.
They have since doubled year after year. They have made $1 million in sales so far this year (they taped in mid-2021).
They anticipate $1.7 million in income for the full year, but they anticipate a $400,000 loss.
The reason for this is because they have invested money on shelf space. They may be found at Sprouts and at some Whole Foods locations.
They also conducted a successful test with Costco and debuted there.
They cost $1.80 to create and retail for $5.99. They each put in $200,000 and raised $1.4 million from friends, family, angels, and institutions at an $8 million valuation; they’re also in the process of a seed round at the same value.
Mark inquires whether they are willing to compromise.
Daymond John was the first shark to formally exit the game. He’s out because he didn’t think they appreciated the benefits a shark might provide.
Kevin is leaving since he does not agree with their valuation.
Peter claims that he invested in a similar firm and that when sales increased, margins decreased, so he departed the business and received his money back; he’s out.
Mark left because he didn’t think the product was unique enough.
Lori She was familiar with the area, but there would be a conflict of interest with a prior agreement she’d done. She’s out due to a conflict of interest. As a result, she was kicked from the show, and Must Love exited Shark Tank without a contract.
What Happened to Must Love after the Shark Tank Pitch?
Despite not getting the deal from the Sharks, Must Love is still in business as of 2022.
What is the Net Worth of Must Love?
They said that they had each contributed $200,000 out of their own pockets, that they were raising further monies through seed investment, and that the brand was worth $8 million.
Current valuation is unavailable.
Who are the Competitors of Must Love?
There are no competitors identified for Must Love?
Must Love FAQS
What is Must Love?
Must Love is a California-based plant-based ice cream brand that claims to be the first to offer the same quality of ice cream with the same taste and texture.
Who are the founders of Must Love?
Mollie Cha and Hannah Hong are the founders.
How much were they seeking in the Shark Tank?
They were looking for $600,000 in exchange for 7.5 percent of their company, which is an $8 million valuation.
Did they get the deal from the Sharks?
They did not get the deal from the Sharks, so they exited without a contract.
Where is Must Love located?
They are headquartered in Los Angeles, California.
Where can they find Must Love ice cream?
They can locate them at Sprouts, some Whole Foods locations and Costco.
Where can they find them on social media?
They are largely active on Instagram, Twitter, Facebook and LinkedIn.
Are they selling on their website?
Yes. They can be found on their website.
What is the company’s website?
Their website is must.love
What countries do you ship to?
They ship to all 50 states as well as Washington, D.C. They are unable to ship to PO Boxes.
When will it arrive?
Packages take 1-2 days to arrive at their door once they have been sent. They will receive an email with a tracking number as soon as it ships.
Please wait up to 7 business days for their order to be processed.
They are experiencing increased processing delays and a manpower scarcity as a result of the epidemic.
How much does it cost?
If they want to purchase ice cream, they may get it delivered to their home for $15. They provide free delivery on purchases of $60 or more.
If they simply want sprinkles, they can get them for $5 with flat postage.
Why is it so expensive?
Shipping ice cream is, to put it mildly, quite difficult. They must transport in a special insulated container containing dry ice, which necessitates additional handling.
It also has to get to them as soon as possible, within 1-2 days.
What is the net worth of Mollie Cha?
Mollie Cha’s net worth is unavailable.
What is the net worth of Hannah Hong?
Hannah Hong’s net worth is unavailable.