Proper Good Shark Tank Update

Proper Good Shark Tank Pitch

Christopher Jane and Jennifer Jane appeared on Shark Tank Season 13, Episode 2, which aired on October 15, 2021, with healthful convenient ready to eat meals.

Proper Good is listed in the Food Beverage category. In plain terms, the business is described as healthful convenient ready to eat meals.

Proper Good asked the Sharks for $400,000 for 10%, implying a valuation of about $4 million.

On the show, Proper Good made a listed deal with Mark Cuban for $400,000 for 20%.

If treated as straight equity, the listed deal works out to about $2 million implied valuation, down from the original $4 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Proper Good After Shark Tank

Proper Good accepted Mark Cuban's on-air offer, but later follow-up says the deal did not close. The brother-sister founders still got a huge sales lift, selling about three and a half months of soup in the week after the episode. (Proper Good Shark Tank Update

The company projected about $2 million in 2021 revenue after the Shark Tank bump, added oatmeal to the line, and started moving from a direct-to-consumer soup business toward broader retail distribution. (Proper Good Shark Tank Update

In November 2022, Proper Good closed a $3.5 million seed round from YETI Capital and The Artisan Group. By November 2023, the company was in about 2,000 Walmart Supercenters and had grown to roughly $8 million in annual revenue. (Proper Good Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches