Back in Season 8 of Shark Tank, Chris Sacca invested in Nomuki, a business that was founded by Lisa and Abe Fetterman. The couple asked for $250,000 for 5% equity and ultimately got $250,000 in exchange for 10% equity. If you’re curious to find out more about how Chris Sacca’s investment is doing, we have just the Nomiku update for you.
Shark Tank Nomiku Update
- Entrepreneur: Lisa Fetterman and Abe Fetterman
- Business: Sous vide cooker
- Ask: $250,000 for 5% equity
- Result: $250,000 for 10% equity
- Shark: Chris Sacca
Nomiku is an “easy-to-use and affordable product” that aims to make cooking sous vide at home more convenient. After the husband-and-wife duo’s presentation and getting a taste of the delicious food, the sharks went ahead and gave their own takes on the business.
- NOMIKU WIFI SOUS VIDE Immersion Circulator is the first wifi-connected sous vide device that lets you create and send recipes directly to the machine,...
- EASY, DELICIOUS, AND NUTRITIOUS. Attach the Nomiku to any pot, add water, place your ingredients in a zip-seal bag or glass jar, press start or use...
- CONTROL FROM ANYWHERE with the EatTender App for your smart phone. EatTender is the largest sous vide community on earth with thousands of recipes to...
First up was Kevin O’Leary, who was concerned about the valuation. While the company had done $3 million in sales at the point of the presentation, it had been in operation for four years. Because of this, Mark Cuban felt like there was not enough momentum. He also added that he wasn’t that knowledgeable in the industry, so he went out followed by Lori Greiner and Robert Herjavec.
Going back to Mr. Wonderful, O’Leary found the business interesting enough to propose an offer. However, despite receiving an offer of $250,000 for 10% equity from Kevin, the couple decided to try and negotiate a deal with Chris Sacca. This prompted Kevin to pull his offer. Luckily, Chris was feeling generous and decided to extend the same offer as Kevin to the Fetterman’s.
The only difference with Chris’ offer was that it had a contingency. Chris stipulated that the only way that the deal would push through is if the other investors allowed the Fetterman’s to retain a 40% stake of the company. Ultimately, Lisa and Abe accepted and made a deal with Chris.
Unfortunately, we’ve got some bad news for our Nomiku update. The company ceased its operations in December 2019, just three years after their episode aired on Shark Tank. This decision came just two years after Nomiku decided to offer pre-packaged, pre-cooked, and pre-portioned meals to its customers that could be prepared in as little as 30 minutes using their own technology following an investment from Samsung.
For more updates from Shark Tank Season 8 Episode 10, be sure to check out:
- Inboard Technology Electric Skateboard Update
- PetPlate Dog Food Delivery Update
- Nootrobox Supplements Update
For more on Shark Tank Season 8, be sure to check out our Season 8 products page.