Confident mom and entrepreneur Raven Thomas pitched her business to the Sharks on Shark Tank Season 3. Her company, The Painted Pretzel, specializes in baked pastries, offering pretzels in various flavors and knot shapes.
Did any Sharks help Raven Thomas expand her business nationwide? Let’s find out what happened to the business.
| Company Name | The Painted Pretzel | |
| Founder/Co-Founder | Raven Thomas | |
| Founded | 2007 | |
| Product | Pretzel bakery | |
| Asked For | $100k for 25% equity | |
| Final Deal | $100k for 25% equity | |
| Shark | Mark Cuban | |
| Episode | S3 E6 | |
| Air Date | Feb 24th, 2012 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Phoenix, Arizona Area, United States | |
| Annual (Revenue) | $0M *estimated | |
| Worth / Valuation | $400,000 | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Raven asked the Sharks for $100,000 for 25% equity at a $400,000 valuation. She also let the Sharks taste her pretzels, and all the Sharks liked them.
Kevin O’Leary asked about sales, and Raven explained that in the last 12 months, she had achieved $75,000 in sales. In the past week alone, she made $64,000 in sales. Additionally, there is a $140,000 worth of orders that couldn’t be fulfilled due to a lack of capital.
The retail cost for a large box is $14.50, while it costs under $7 to produce. Kevin is concerned that anyone could make this product, as it lacks any proprietary aspect.
Lori Greiner mentioned that if Raven could explain why investing in this business would be worthwhile, she would consider investing.
Raven explained that she wants to show her two children how to follow their dreams and achieve success.
Kevin O’Leary said that this reason is not enough for him to invest, so he is out.
She revealed that she previously walked away from a $2 million order from Sam’s Wholesale Club due to a lack of capital to fulfill the order.
Mark Cuban offered $100,000 for 25% equity, and Raven accepted the offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Mark Cuban | $100k for 25% equity |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Lori Greiner | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | $100k for 25% equity |
The Painted Pretzel Shark Tank Update
With Mark Cuban’s investment, Raven was able to fulfill the $2 million order from Sam’s Wholesale Club and list her product on Amazon, leading to a significant increase in sales.
During our research on The Painted Pretzel, we found that since 2023, the product has been removed from Amazon. Before 2019, the company was generating millions of dollars in annual sales.
As of August 2024, The Painted Pretzel is out of business. Raven Thomas is now working as the Director of Business Development at the software company Neubloc.
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