Josh Belinsky and Manny Lubin entered the Shark Tank with a bold concept. Their goal was to improve the health and appeal of chocolate milk for adults. Slate Chocolate Milk was the name of their business. They developed a new kind of chocolate milk with more protein and less sugar. Additionally, it was lactose-free, so those who are intolerant to lactose may consume it without any issues.
Manny and Josh were requesting $400,000 for ten percent of their business. Will the entrepreneur get a deal on Shark Tank? Check out the Slate Chocolate Milk update to find out!
Slate Chocolate Milk Net Worth Shark Tank Update 2025
Manny Lubin and Josh Belinsky asked for a $400,000 investment in exchange for 10% equity in their company. This meant they valued their company at $4 million. They did not make a deal with any of the Sharks, so their valuation remained at $4 million. After the show aired, Slate Chocolate Milk saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Slate Chocolate Milk is about $6.46 million.
Manny Lubin and Josh Belinsky brought a daring idea to the Shark Tank. Their objective was to make chocolate milk healthier and more enticing to adults. Their company was called Slate Chocolate Milk. They created a new type of chocolate milk that has less sugar and more protein.
It is also lactose-free, so people who are lactose-sensitive can have it without any problems. Manny and Josh wanted to sell ten percent of their company for $400,000.
Slate failed to get an agreement. Manny and Josh requested $400,000 for 10% of their business, indicating that they thought it was worth $4 million. However, the Sharks believed that this was excessive for a business that had not yet made any sales.
The Sharks had too many concerns about the product’s taste and marketability and believed the company was not prepared for such a high price. Manny and Josh were left without a deal when all the Sharks left but they gained valuable experience.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Barbara Corcoran | Out | N/A | N/A |
| Lori Greiner | out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Rohan Oza (guest Shark) | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Slate Chocolate Milk Shark Tank pitch
Josh Belinsky and Manny Lubin intended to alter the perception of chocolate milk. While they both enjoyed chocolate milk as children, they were aware that it was not the healthiest option for them as adults. Their goal was to create an adult chocolate milk that would support their fitness and health objectives.
They decided to make lactose-free chocolate milk after learning that many people experienced problems with lactose in conventional milk. They also aimed to reduce the amount of sugar. Their plan was to extract lactose from the milk using a unique procedure known as ultrafiltration. This technique improved the milk’s creaminess and suitability for those who have lactose intolerance.
They encountered numerous difficulties in the beginning. It was difficult to get the correct taste. Another problem was making the drink shelf-stable for easy shipping. More than 100 taste tests were conducted in an attempt to perfect it. They also had trouble generating funds and locating suitable partners. However, Manny and Josh remained committed to their objective of creating nutritious chocolate milk for grown-ups.
Manny and Josh began their presentation by discussing the reasons why drinking should make people happy. They clarified that Slate was a brand-new chocolate milk that was lactose-free, higher in protein, and lower in sugar. Adults who wanted to enjoy chocolate milk without worrying about calories and sugar were the target market for the beverage.
The two founders revealed that the one can of Slate they were carrying was merely a prototype. They claimed that their beverage would not go bad on the shelf. Manny and Josh offered samples of the product since the Sharks wanted to try it. At a valuation of $4 million Manny and Josh asked for $400,000 for 10% equity.
Given that there were no sales, the Sharks believed this to be high. Manny and Josh thought Slate had a significant advantage because their third partner had prior food business experience. They valued his skills and contacts highly.
Slate Chocolate Milk was the subject of numerous inquiries from the Sharks. They enquired about the shelf stability, sugar content, and flavor. After tasting the product, Sharks like Mark Cuban and others had differing thoughts about its flavor. The dark chocolate version didn’t taste good to Mark Cuban. He reported that it had an odd aftertaste and tasted dry. According to Kevin O’Leary, the product did not remind him of conventional chocolate milk.
The Sharks questioned the amount of sugar as well. According to the inventors each can include just 9 grams of sugar which is significantly less than that of ordinary chocolate milk. They also mentioned that each can of the product only included 130 calories. Some Sharks were drawn to this because they were looking for a healthier substitute.
The Sharks enquired about the cost of manufacture. Each can cost $0.85 to create, according to Manny and Josh. They intended to charge $2.99 for it at retail. Their profit margin would be roughly 52% as a result. The Sharks needed evidence of market demand yet appeared interested in the margins.
The experience of their companion was the subject of another query. According to the founders, their third partner had assisted a Greek yogurt company in increasing its revenues from $140,000 to $150 million. They anticipated Slate would develop rapidly as a result of his experience. The Sharks weren’t persuaded though that this experience alone warranted the $4 million valuation.
The Sharks responded strongly to Slate Chocolate Milk’s proposal. Lori Greiner believed that investing in the product was premature. She clarified that she would have rather seen a tested product with actual sales. Slate wasn’t ready for the market, in her opinion. Lori made the decision to back out of the agreement.
Kevin O’Leary responded harshly. He claimed he didn’t enjoy the flavor and didn’t think the product would be successful in its current state. He saw little evidence that customers would want the product and thought the valuation was excessive. Kevin made the decision not to make an investment.
With no sales to support it Barbara Corcoran also thought the company was asking for too much. She said it was risky because of the high valuation and lack of sales. She decided against investing.
Mark Cuban expressed his opinions regarding the taste quite clearly. He claimed that he didn’t like it and that he didn’t think it was ready for sale. Mark also made the decision to back out of the agreement.
Last but not least, guest Shark Rohan Oza expressed his opinions. He thought the product wasn’t ready but he appreciated the entrepreneurs’ enthusiasm and ideas. According to Rohan he had to follow his gut and decided against investing. Manny and Josh went without a word because Rohan was the final Shark to leave.
What Went Wrong With Slate Chocolate Milk On Shark Tank?
The Sharks declined the offer for a number of reasons. The $4 million high valuation was one of the causes. The Sharks found it challenging to defend this sum because the company had not yet made any sales. Manny and Josh used their partner’s experience to support the valuation. The Sharks however did not believe that this was sufficient to justify the product’s $4 million value.
The product’s flavor was another problem. The Sharks thought the taste of dark chocolate was odd. Kevin O’Leary and Mark Cuban both mentioned the dry aftertaste. The product’s taste in their opinion wasn’t sufficiently similar to that of normal chocolate milk.
One major worry was the lack of sales. The Sharks were looking for evidence that Slate Chocolate Milk would be purchased. They believed it was a hazardous venture because there were no sales or taste tests. Josh and Manny acknowledged that they were continuously refining the formula. This gave the Sharks the impression that the product was still in its early stages of development.
In general, the Sharks believed that Slate Chocolate Milk was still in its infancy. They were unable to invest due to taste problems, expensive value, and a lack of sales.
Product Availability
You can still get Slate Chocolate Milk today. Since its Shark Tank debut, it has expanded. The product was revamped by the manufacturer to further reduce sugar and improve taste. Only one gram of sugar and twenty grams of protein are now present in each can.
Both Amazon and the Slate website offer the device for purchase online. It is also available at a variety of supermarkets, such as Publix, Giant, and Whole Foods. The UFC and Slate have a cooperation that aids in brand promotion.
At retail, each can cost about $2.99. It is reasonably priced for those seeking a healthy substitute for chocolate milk. Customers have a range of options because the product comes in a variety of flavors.
Conclusion
On Shark Tank Slate Chocolate Milk was not given a contract. Nevertheless, the founders persisted. They kept improving the product and working on it. They have since grown to thousands of stores and raised $25 million in funding. In the realm of fitness and health, slate has gained popularity.
Slate Chocolate Milk appears to have a bright future thanks to its improved formula and partnerships. Shark Tank was just the start of Manny and Josh’s quest. The business has expanded and has a bright future ahead of it.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
