Everyone loves dessert, but health is also a concern. Like many couples, Maurizio Rasti enjoys traditional tastes, while Saphira prefers desserts made with whole and plant-based ingredients. So, they started Nowhere Bakery, a company that creates desserts by blending traditional tastes with plant-based ingredients.
They appeared on Shark Tank Season 15 Episode 18 to seek the Sharks’ help in making their dessert products available in big-box stores and expanding their business. Did they get an investment from the Sharks? Let’s find out.
| Company Name | Nowhere Bakery | |
| Founder/Co-Founder | Maurizio Rasti and Saphira Rasti | |
| Founded | March 2020 | |
| Product | Bakery | |
| Asked For | $200k for 5% equity | |
| Final Deal | $100k plus $100k as a line of credit for a 12.5% stake | |
| Shark | Barbara Corcoran | |
| Episode | S15 E18 | |
| Air Date | March 15th, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Orange County, California, United States | |
| Lifetime Worth (Sales) | $7M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
What Is the Background of The Founder?
Nowhere Bakery Company was founded by husband and wife team Maurizio Rasti and Saphira Rasti during the 2020 COVID-19 pandemic.
Maurizio comes from a marketing background and completed his studies in Business, Management, and Marketing at The Ohio State University.
Saphira is a health coach and has completed her health coaching from the Institute for Integrative Nutrition.
Business Pitch Episode Recap
Maurizio and Saphira appeared on Shark Tank, demonstrated their product to the Sharks, explained their business model, and asked for $200k for 5% equity at a $4 million valuation.
Saphira explained to the Sharks that their desserts are allergen-friendly, dairy-free, egg-free, gluten-free, soy-free, refined sugar-free, sugar-alcohol-free, and paleo-friendly.
The Sharks tested all of the company’s cookies and found them to be quite impressive. Kevin O’Leary mentioned that the desserts were much tastier compared to other plant-based desserts.
They started their business in March 2020 during the pandemic. Saphira, who is a food blogger, successfully used her network to sell their products directly to consumers.
In April 2020, they started making sales, and by the end of the year, their total sales reached $92,000. In 2021, total sales were $524,000, and in 2022, it was $770,000. They estimate sales in 2023 will be in the millions.
However, in 2022, they only made a profit of $32,000. The average cost to make their product is $1.92, and it is sold for $6 per unit.
Maurizio and Saphira are currently managing the product manufacturing themselves to ensure there are no issues with quality.
Kevin O’Leary offered $200k for 20% equity, and he would help make the product available in major big-box stores and bring in a co-packer (third-party manufacturing).
Mark Cuban said that one cookie has 300 calories, and people who count their calories would not like these cookies, so he is out.
Barbara Corcoran offered $100k plus $100k as a line of credit for a 15% stake and said she would help grow the business.
Lori Greiner said she is out due to the higher calorie content of the cookies.
Jason Blum decided to team up with Kevin O’Leary, offering $200k for 20% equity and supporting the product’s availability in major big box stores.
Maurizio countered Barbara’s offer with $400k for 15% equity. Barbara stated she was not comfortable with the amount, so Saphira proposed $100k plus $100k as a line of credit for a 12.5% stake. Barbara accepted this counteroffer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Jason Blum | $100k for 10% equity (Kevin) |
| Kevin O’Leary | $100k for 10% equity (Jason) |
| Mark Cuban | No Offer |
| Barbara Corcoran | $100k plus $100k as a line of credit for a 15% stake |
| Lori Greiner | No Offer |
| Founder’s (Countered) | $100k plus $100k as a line of credit for a 12.5% stake (Barbara) |
| Final Deals | $100k plus $100k as a line of credit for a 12.5% stake |
Nowhere Bakery Shark Tank Update
Due to the Shark Tank show, Nowhere Bakery gained significant popularity online. With Barbara’s help, their products are now available in 92 retail stores across the United States.
During our research on the company, we found out that Nowhere Bakery is still in business and generates millions of dollars in sales each year.
Check out Shark Tank Season 15 Business Update.
You can see some businesses from Season 15 here.
