![]() ![]() Post-Shark Tank- We knew, even prior to ST, that we had a lot of work to do. And surreal.- We actually thought Lori was going to make an offer prior to going out.- Someone mentioned Chris Voss below. Worked out in our favor, I suppose!- Barb totally caught us by surprise coming back in. to raise capital (since ST valuations tend to be quite generous.)- We were prepared to walk if the 5% for 200k LOC was not accepted.- With beverage margins as tight as they are, a royalty deal just didn't make sense.- There was definitely some residual energy between Barb and Kev that probably wasn't specific to Pricklee, haha. Scenario planning is key.- Our strategy going into the tank was to acquire a shark with minimal equity commitments, vs. The Negotiation:- This was pretty fun, tbh.- We were a lot less nervous than we had expected. More to come on this below.- Kind of bummed that the cactus suits entering the scene didn't make the cut! Maybe the producers thought our dance moves weren't good for TV. Some founders may find it faster than others, and some don't, ever. It's a journey of self-awareness that I think all brands take. A lot of it had to do with the fact that we honestly just hadn't yet arrived at a place of understanding of our product or the cactus, and therefore lacked an authentic Pricklee brand to express it clearly. Some of this had to do with inexperience on our part at the time, being new to business and CPG. ![]() We didn't do the cactus or product justice in our segment, unfortunately. Pricklee is a great product, built around an amazing hero ingredient that truly is sustainable. We missed an opportunity to celebrate the beauty and benefits of the cactus, and instead, promoted negative marketing against coconut water.- As one user correctly mentioned, a great product should stand on its own. It's nothing but gratitude for the opportunity.Īs thanks for this discussion board, I thought I'd share some behind-the-scenes ST thoughts, lessons learned, and updates with anyone that might be interested! but, it's also been the most rewarding, the most humbling, the most spiritually fulfilling, and the most humanizing one as well. Building a CPG company in the middle of a pandemic has been the most physically and emotionally taxing endeavor we've ever taken on in our lives. Shark Tank has pretty much been with us from Day 1 of our journey.- I'd say we're not just a different company today than we were at filming, but we're very different people as well.īeing 1st-time founders coming from a different industry, we've learned a lot, grown a lot, made a ton of mistakes, and pivoted a lot during this journey. Surreal.- We ended up filming ~10 months ago in September and aired on May 6.- So. Just some quick ST history:- We launched Pricklee in Feb 2021, and ST reached out after seeing a FB ad Week 1. I really appreciate all of the thoughtfulness, challenges, and thoughts that you've all shared! ![]() Stumbled upon this thread, and I have to say. ![]()
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