Nowadays, many people are searching for healthier drink options. However, popular choices, such as coconut water, can be disappointing because of their high sugar and number of calories. Customers are hungry for something fresh and energizing because the market is already overflowing with coconut water products.
With the invention of Pricklee Cactus Water, Kun Yang, and Mo Hassoun aimed to address this issue. Their prickly pear cactus-based beverage provides a lower-calorie and lower-sugar alternative for coconut water. For those seeking a more natural method of hydration, Pricklee’s Cactus Water is an excellent choice because it contains natural antioxidants and electrolytes.
Kun and Mo appeared on Shark Tank intending to raise the capital to expand their business. They asked for $200,000 in exchange for 5% equity. They presented their innovative cactus water product to the sharks during their business pitch. Did the entrepreneur get a deal on Shark Tank? Check out our Pricklee Cactus Water update to find out!
Pricklee Cactus Water Net Worth 2024
Kun Yang and Mo Hassoun asked for a $200k investment in exchange for 5% equity in Pricklee Cactus Water. This meant they valued their company at $4 million. They made a deal with Barbara Corcoran for $200k as a line of credit in exchange for 5% equity. The company’s valuation remained at $4 million. After the show aired, Pricklee Cactus Water saw significant growth in sales and market presence. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Pricklee Cactus Water in 2024 is about $6 million.
Pricklee Cactus Water Shark Tank Update
After appearing on Shark Tank, Pricklee has grown significantly. Barbara Corcoran could negotiate a contract for the company, and she has been leading them ever since. Pricklee improved after their appearance according to the sharks’ feedback. As for a Pricklee Cactus Water update, they boosted their internet presence, especially on social media, where they currently have thousands of followers on Instagram and TikTok, and they changed their packaging to emphasize the advantages of cactus water.
Pricklee is now available beyond their website and Amazon.com. They can now be found in over 20 states at Sprouts Farmers Market. The company’s sales as of today reached an amazing $1.5 million. Pricklee is obviously here to stay in the beverage business based on its continuous expansion.
Yes, Pricklee got the deal on Shark Tank. Barbara Corcoran declined at first, but she eventually came back into the talks because she thought the product had potential. She proposed to provide Kun and Mo a line of credit for $200,000 in exchange for 5% of the business. After accepting Barbara’s offer, the company’s founders could get the funding and guidance they required to expand.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | $200,000 as a line of credit for 5% | N/A | Yes |
| Kevin O’Leary | 1# $200,000 for 20% equity 2# $200,000 for 10% equity | $200,000 as a line of credit for 5% equity | No |
| Lori Greiner | Out | N/A | N/A |
| Emma Grede | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Pricklee Cactus Water Shark Tank Pitch
Pricklee’s founders, Kun Yang and Mo Hassoun, were influenced by a customary beverage that Hassoun’s grandmother in Lebanon produced. This water from the prickly pear cactus was tasty and beneficial to health. The creators, who were both aware of the growing need for better beverage options and health-consciousness, introduced this natural and refreshing drink.
Their journey wasn’t without difficulties. When they first began out, larger, more established brands were competing with them, and they had to figure out how to promote a less well-known product like cactus water. But they continued because they were driven to provide the market with a healthy drink option and because they thought Pricklee could find a place.
When Kun and Mo entered Shark Tank, their offer was $200,000 for 5% of the company. They promoted their product as a healthier, lower-sugar alternative for coconut water. Pricklee is high in electrolytes and antioxidants and is available in three different flavors. The taste was appealing to the sharks, but at the time of the proposal, sales were just $50,000 per month.
Each cost them $1, and they sold them for anywhere from $1.67 to $3.49. The creators of Pricklee explained how the product’s advantages over other drinks came from its unusual ingredient, prickly pear cactus, which isn’t frequently used in the beverage business. Keep reading our Pricklee Cactus Water update to see what happens next!
Kevin wanted to clear his doubt about the amount of calories and sugar in one can. The founders replied that it only contains 35 calories and 7 grams of sugar.
Emme asked about the competitors in the market with similar products. The founders explained cactus water is a brand-new product. There are a few companies that make similar products, but they have something that others don’t have.
While discussing with Kevin, the founders revealed they did 55,000 in sales last month. They expect to reach 70,000 this month.
Lori questioned about the cost and the selling price. They replied it cost $1 and they sell it from $1.67 to $3.49.
Lori Greiner declined to invest because she thought the business was still in its early stages. The less sales history of the business also disappointed her.
Mark Cuban also decided not to invest since he didn’t think the marketing was clear enough and didn’t like the packaging.
Emma Grede decided not to use the product because she thought it lacked a clear message about its purpose.
Kevin Failure usually dislikes beverage deals, but he liked the product and offered $200,000 in exchange for 20% of the company. The founders countered it with a $200,000 line of credit for 5% equity.
Barbara Corcoran initially refused to offer but after some discussion, she agreed to provide them with a $200,000 line of credit for 5% equity. The founders accepted her offer.
Product Availability
From Our Pricklee Cactus Water update research, Pricklee Cactus Water is available in three flavors and offered as a low-sugar, healthier substitute for coconut water. It’s a refreshing drink option because it’s filled with electrolytes and natural antioxidants. Customers may buy Pricklee straight from the company’s website, Amazon, and over 20 states’ worth of Sprouts Farmers Market. Prices vary based on the vendor and range from $1.67 to $3.49.
Conclusion
Through Pricklee’s experience on Shark Tank, the business could get recognition and close a deal with Barbara Corcoran. Since then, they’ve raised sales dramatically, extended their retail presence, and enhanced their packaging and marketing.
With sales projected to reach $1.5 million in 2023 and availability in several states, Pricklee is not slowing down. The business is expanding, and it’s fascinating to see where Pricklee will go next under Barbara’s guidance. It will be interesting to see this cactus water substitute’s development as it makes a name for itself in the beverage market.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
