Nomiku Shark Tank Update

Nomiku Shark Tank Pitch

Lisa Fetterman and Abe Fetterman appeared on Shark Tank Season 8, Episode 10, which aired on December 1, 2016, with Immersion Circulator For Sous Vide Cooking.

Nomiku is listed in the Lifestyle Home category. In plain terms, the business is described as Immersion Circulator For Sous Vide Cooking.

Nomiku asked the Sharks for $250,000 for 5%, implying a valuation of about $5 million.

On the show, Nomiku made a listed deal for $250,000 for 10%.

If treated as straight equity, the listed deal works out to about $2.5 million implied valuation, down from the original $5 million implied valuation.

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

Nomiku After Shark Tank

Nomiku accepted an on-air deal with Chris Sacca, but the company ultimately did not become a long-term Shark Tank success. (Nomiku Shark Tank Blog update

The company had real traction before and after the show, including Kickstarter-backed sous vide devices and reported lifetime sales of about $8 million. (Nomiku Shark Tank Blog update

The post-show problems were operational: delayed Kickstarter fulfillment, product reliability complaints, and a later pivot into prepared sous-vide meals did not produce a sustainable business. (Nomiku Shark Tank Blog update

On December 13, 2019, TechCrunch reported that Nomiku was winding down operations and discontinuing both the Nomiku Smart Cooker and Nomiku Meals. (TechCrunch Nomiku shutdown report

Sources

Sources used for this page: Shark Tank API pitches