Our taste buds keep craving for delicious foods. But all delicious foods are not healthy. They might be tasty but have zero nutrition. In today’s world, everyone is facing the lack of the perfect combination of taste and nutrition.
So Michael Akindele and Ehime Eigbe made a dessert that’s tasty and nutritious. Frozen yogurt with various flavors is made for both good taste and nutrition. The couple and business partners have made their international debut already.
The pitch was good and sales were sufficient with each year’s growth. They demanded for $250,000 with 5% equity. Although they are one of the best-selling frozen yogurt companies in Africa, Did the entrepreneur get a deal on Shark Tank? Check out our Sweetkiwi update to find out!
SweetKiwi net Worth
Michael Akindele and Ehime Eigbe asked for a $250,000 investment in exchange for 5% equity in their company. This meant they valued their company at $5 million. They made a deal with Robert Herjavec for $250,000 in exchange for 16% of their company. This new deal valued their company at $1.56 million. For a quick Sweetkiwi update, after the show aired, Sweetkiwi 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 Sweetkiwi is about $2.11 million.
Sweetkiwi Shark Tank Update
The audience recognized the company due to its taste after the Shark Tank episode. The sales went high and the company grew larger. Moreover, the sales were high at $1.11 million in 2023 and still thriving to new heights.
Yes, Sweetkiwi got a deal with Robert Herjavec as $250,000 for 16% equity. Keep reading our Sweetkiwi update to see what happens next!
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavac | #1: $250,000 with 20% equity #2: $250,000 with 16% equity | $250,000 with 7.1% equity and 5% in advisory shares. | Yes |
| Lori Greiner | Out | N/A | No |
| Kevin O’Leary | $250,000 with 20% equity | N/A | No |
| Barbara Corcoran | Out | N/A | No |
| Mark Cuban | Out | N/A | No |
Sweetkiwi Shark Tank Pitch
Ehime is Nigerian-born and brought up in the UK. Then she moved to Texas where she was diagnosed with Uterine Fibroid at the age of 22. So she tried changing her diet but she struggled with the dessert options. Then she found frozen yogurt and tried making it at home. She further continued her progress by learning culture diary to production.
When she was about to open Sweetkiwi she had to move back to Nigeria where she found there was no healthy option for dessert. So she begins Sweetkiwi in Nigeria.
Ehime and Michael introduced themselves. They demanded for $250,000 for 5% equity. They explained how balancing the diet is a tricky job. Whenever it tastes good, it isn’t always healthy. As a married couple, they faced this issue too. So they made Sweetkiwi.
Sweetkiwi is a frozen Greek yogurt with dense nutrients. It’s low in calories and it’s amazingly delicious. It helps with gut health and overall wellness. The ingredients are raw and fresh. The milk is from home-owned farms which gives 22 g proteins and fibers.
It also contains superfoods for better health. Ehime concluded the pitch with Sharks’ opinions. Samples of various flavors were provided for them to try.
Sharks loved the flavors and appreciated the amazing taste. Lori was the first to inquire. She inquired about the backstory. After the back story, Ehime informed the Sharks that the brand opened retail stores in Nigeria. Which later grew up to be one of the biggest frozen food companies in Africa. This shocked the Sharks.
Mark inquired about how long it happened to which Ehime responded that they began in 2011. Robert inquired what it was called there and if it still running. Ehime replied that it’s called Sweetkiwi there too and it’s still running. Daymond inquired about the international business part of the deal to which Micheal responded with a no. Michael further explained that the company is registered separately in the U.S.
Robert inquired about how much the business has grown here. To which Micheal responded that the lifetime sales is $2 million. Ehime further explained that they came back to focus on the business here. Later they were approached by Whole Foods companies and launched in stores. Lori inquired how many companies. Ehime replied that they have currently in 1700 stores for the last two years. They are launched in Walmart this year.
Lori inquired about the sales in the U.S. this year. Micheal replied that they made $650,000 this year and target to make 1.2 to 1.4 million by the end of the year. Robert asked entrepreneurs for a walkthrough of the business model. Micheal explained the products are sold from $4.97 to $6.99. Robert if they are competitive. Micheal replied that they are competitive as they are the only whipped frozen yogurt on the shelf.
Kevin inquired about the end-of-the-year profit. Micheal responded that they are already even with the cash flow. They need money to make and grow big. While he was explaining, Kevin jumped in with an offer.
Kevin made an offer of $250,000 for 20% equity. Daymond was the first Shark to step out. He liked the idea but he doesn’t consider it a good fit for business. Mark inquired how they promote their business in the U.S. Ehime replied that they do demos and promos. Moreover, they are now selling it for $4.20 after the promotion. Mark stepped out as he thought it was quite uncertain about his progress path.
Lori loved the product but she can’t invest in the business. Sharks were still inquiring. But Kevin made a bold move and backed out. Last was Robert and he made an offer. The same as Kevin. He offered $250,000 with 20% equity. Michael inquired if he could counteroffer. He then counter-offered $250,000 with 7.1% equity and 5% in advisory shares.
Robert counter-offered $250,000 for 16% equity. After a discussion for a few seconds, the deal was done.
What Went Wrong with Sweetkiwi on Shark Tank
The pitch was good and the sales were going well. But the Sharks stepped out due to their reasons. Kevin offered a deal and then backed made the entrepreneurs quite nervous. But still, they managed to get the deal done.
Product Availability
From our Sweetkiwi update research, Sweetkiwi is a frozen yogurt brand with a delicious taste and healthy gut bacteria. You see this product served in the frozen section of various retail stores like Walmart and Kroger. Vanilla, chocolate, cookies, crema, and raspberry rose are some of the top sellers.
There are various bundles and savings packs available online. You can shop online or purchase it from the nearest stores.
Conclusion
Michael and Ehime are a couple on Shark Tank Season 14 with their delicious Greek yogurt flavors. They are healthy and tasty. Frozen and can be eaten as a dessert. This brand has made its debut in Africa and still growing in the U.S. Various flavours can be found in various retail stores.
The couple demanded $250,000 for 5% equity. The pitch was good and sales are increasing per year. Sharks backed out due to their reasons. But Kevin jumped in an offer. Later he backed out as Sahrks were still inquiring about the product. This made the situation a little tense. But Robert stepped in with the same deal as Kevin.
They demanded for $250,000 with 20% equity. Michael counter-offered $250,000 with 7.1% equity and 5% in advisory shares. Robert revised his deal to $250,000 with 16% equity. Entrepreneurs accepted the deal and left happily.
Hello everyone, I’m Sara Javed. I’m an IT professional expert with project management and design skills. Besides writing, I love playing video games, designing digital art, and reading books. I love Shark Tank due to its innovative business idea and unpredicted reactions of Sharks. This keeps me glued to the screens to watch the next catchy moment. Read more About me.