Rumi Spice Shark Tank Update

Rumi Spice Shark Tank Pitch

Emily Miller, Kim Jung, and Keith Alaniz appeared on Shark Tank Season 8, Episode 23, which aired on May 5, 2017, with ethically sourced spices from Afghanistan.

Rumi Spice is listed in the Food Beverage category. In plain terms, the business is described as ethically sourced spices from Afghanistan.

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

On the show, Rumi Spice made a listed deal with Mark Cuban for $250,000 for 15%.

If treated as straight equity, the listed deal works out to about $1.7 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.

Rumi Spice After Shark Tank

Rumi Spice accepted an on-air Shark Tank deal for $250,000 for 15%. The on-air deal did not close. The company is still in business. (Rumi Spice Shark Tank Update

In 2018, they secured $2.5 million in venture capital from two investors. (Rumi Spice Shark Tank Update

In December, 2018, they got a $2.5 million Series A Investment from InFrontier. (Rumi Spice Shark Tank Update

The company launched nationally in Whole Foods Markets in September, 2018. (Rumi Spice Shark Tank Update

The company expanded their spice line to include a mulling spice blend, an Afghan curry braise, a Kabul spice blend, and a Paella spice blend. (Rumi Spice Shark Tank Update

The official website for Rumi Spice is listed as www.rumispice.com. (Rumi Spice website

Sources

Sources used for this page: Shark Tank API pitches