Shark Tank Update
Shark Tank Pitch
Talbott Teas Shark Tank Update
Published:
2m
Chicago, IL
| Name | Talbott Teas |
|---|---|
| Main Presenters | Steve Nakisher and Shane Talbott |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2016 |
| Main Location | Chicago, IL Loading Map |
| Order Shown in Episode | 3 |
| Final Deal | Deal was made on the show with sharks Kevin O'Leary for $250k for 35% of Company. |
Talbott Teas Shark Tank Pitch
Shane Talbott, a hair colorist, and Steve Nakisher, a psychologist, are a gay couple from Chicago, Illinois, with a shared interest in tea.
Steve and Shane have put $300k into the business. In 2009 Talbott Teas did $100k in revenue, in 2010 $350k, and so far this year (third quarter 2011) $500k. Steve and Shane have a 50% profit margin before paying themselves.
In 2010 Oprah made Talbott Teas well known by listing it as a product she loved. They followed that up with an appearance on QVC.
Steve and Shane want to turn Talbott Teas into a lifestyle brand and sell other products.
You will not lose your shirt with us.
These guys have confidence, but the valuation turns off the sharks. Only Kevin gives it a shot, and they come to a deal.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $250k for 20% of Company | |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Offered | Kevin O'Leary | $250k for 40% of Company |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Lori Greiner | Out |
| Company | Offered | Kevin O'Leary | $250k for 30% of Company |
| Sharks | Deal | Kevin O'Leary | $250k for 35% of Company |
Mark Cuban
Out
Daymond John
Out
Kevin O'Leary
Made Deal
Lori Greiner
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| 3 | 12 |
Talbott Teas After Shark Tank
Steve Nakisher and Shane Talbott release a video with Daymond John on YouTube, here https://youtu.be/hhap1QASxQo, announcing that Daymond and Kevin worked out an additional deal with Jamba Juice that will allow Talbott Teas to be sold in Jamba Juice and continue to sell in retail stores.Link Preview
here
In season 3, episode 12, we got an update that Jamba Juice had acquired Talbott Teas just a few days before the show aired for an undisclosed amount. Steve and Shane became "rich."
According to Shane Talbott's LinkedIn https://www.linkedin.com/in/shanetalbott, he was Oprah's hair colorist (perhaps some bias in Oprah's Favorites list?). Shane continues to be the face of Talbott Teas until it faded away.Link Preview
LinkedIn
In an interview in 2014 here https://www.gratitudegourmet.com/blog/shane-talbott-a-dynamic-entrepreneur-with-a-passion-for-tea, Shane said he just launched a new more budget-friendly tea line called Artistry Tea. That is the last I've been able to find on Shane.Link Preview
here
The Talbott Tea Twitter, @TalbottTeas https://x.com/TalbottTeas, stopped Tweeting in 2016, and though the website, talbottteas.com, has content, the store is inactive, and it seems to be a new owner trying to profit off lingering page views.Link Preview
@TalbottTeas
According to Steve Nakisher's LinkedIn https://www.linkedin.com/in/stevennakisher, in 2022 he is a Licensed Clinical Psychologist at his company Nakisher Psychological Services.Link Preview
LinkedIn
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