Next up is Alfonso Tejada of OA Foods, seeking $300,000 for 10 percent equity.
OA Foods puts a healthier twist on pasta. According to their website, the brand’s Palmini “is a pasta substitute made 100% out of a natural plant known as Hearts of Palm. When this plant is cut and cooked in the proper way, it’s resemblance to regular pasta is remarkable.” The vegetable pasta is gluten-free, non-GMO and low in calories. A can of their linguine costs $4.49. Their other foods include chia and quinoa.
The sharks give it a try and Lori Greiner says it’s “really good.” Robert Herjavec doesn’t think it tastes like pasta, but Greiner is impressed with how the Hearts of Palm vegetable is being used. In three months, he sold approximately 2,000 units of Palmini.
Guest shark Bethenny Frankel likes his passion but is worried about the competition. She goes out, followed by Daymond John over the valuation. Herjavec goes out as well. Greiner and Mark Cuban then jump in with an offer of $300,000 for 30 percent. Tejada counters 18 percent, which they decline. He counteroffers again at 20 percent, which is brought up to 25 percent by Greiner. He accepts.
Social Media Reacts to OA Foods’ Appearance on “Shark Tank”
Palmini sounds good to me! I’d buy it!! #SharkTank
— GG Loves Andy Cohen (@CGuiselle) February 26, 2018
Palmini, low sales great guy #SharkTank
— Lance Becvar (@Dadsonpowermode) February 26, 2018
He's smart to be including the qunioa part in this deal. #SharkTank
— Novafan23 (@Novafan23) February 26, 2018
— Jacqueline E (@helpbusinesses) February 26, 2018
— Lori Greiner (@LoriGreiner) February 26, 2018
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
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