Wild Earth Has A Valuation of $11million With ZERO Sales! | Shark Tank US | Shark Tank Global
Summary
TLDRIn this Shark Tank pitch, Ryan Bethencourt presents Wild Earth, a dog food company aiming to revolutionize pet nutrition with Koji, a protein-rich fungus. He seeks $550,000 for 5% equity, highlighting concerns about traditional pet food, including unhealthy ingredients and environmental impacts. Despite showcasing dog-friendly samples, investors express skepticism over the inflated valuation and lack of sales. Mark Cuban offers the investment for 10%, emphasizing the need for proof of concept. Ultimately, Ryan accepts the offer, positioning Wild Earth to disrupt the $30 billion pet food market with a healthier, sustainable alternative.
Takeaways
- đ Ryan Bethencourt seeks $550,000 for 5% equity in his company, Wild Earth, which focuses on alternative pet food.
- đ± Wild Earth's product features cultured protein made from Koji, an ingredient rich in essential amino acids for dogs.
- đŸ The company aims to address the concerns of pet obesity, harmful ingredients, and environmental impact associated with traditional pet food.
- đ§Ș Ryan has a background in biotech and cellular agriculture, lending credibility to his venture in alternative proteins.
- đĄ The dog food market in the U.S. is valued at $30 billion, presenting a significant opportunity for Wild Earth.
- đ« Investors express skepticism about the high valuation of $9.5 million before any sales have been made.
- đ Kevin OâLeary questions the feasibility of a meat-free diet for dogs, suggesting it may not align with their natural cravings.
- đ Ryan plans to sell the product online, emphasizing a viral marketing approach to reach customers.
- đ° Mark Cuban offers to invest but requests a higher equity stake of 10%, reflecting concerns about the company's valuation.
- đ€ The pitch concludes with Ryan expressing optimism about working with Mark to scale Wild Earth into a multi-billion dollar company.
Q & A
What is the main product offered by Wild Earth?
-Wild Earth offers cultured protein dog food made with Koji, a human-grade ingredient rich in protein and essential amino acids.
How much investment is Ryan seeking, and what percentage of the company is he offering?
-Ryan is seeking $550,000 for 5% of his company, Wild Earth.
What concerns does Ryan express regarding traditional pet food?
-Ryan is concerned about the unpronounceable ingredients, frequent pet food recalls, pet obesity, and the environmental impact of conventional pet food production.
What unique ingredient does Ryan highlight as a key component of his dog food?
-Ryan highlights Koji, which is used in miso, soy sauce, and sake, as a key ingredient that enhances the umami flavor and provides nutritional value.
How do the sharks react to the product's pricing compared to traditional dog food?
-The sharks find the pricing high, with Ryan indicating that the treats will cost about $12.99 and the dog food will be priced at approximately $40 per bag.
What is the total amount of funding Ryan has raised so far?
-Ryan has raised a total of $4 million for Wild Earth.
What does Mark Cuban offer Ryan during the pitch?
-Mark Cuban offers Ryan $550,000 for 10% equity in the company, indicating a willingness to negotiate.
What skepticism do the sharks express about the company's valuation?
-The sharks express skepticism about the $9.5 million post-money valuation, especially since the company has not yet made significant sales.
How does Ryan justify the potential for success in the alternative protein market?
-Ryan argues that the U.S. pet food market is a $30 billion industry, suggesting there is a significant opportunity for a viable alternative protein product.
What are the future plans for product development mentioned by Ryan?
-Ryan mentions that Wild Earth plans to introduce multiple new products and has a scaling infrastructure in place to support growth.
Outlines
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