Solsource Shark Tank Update

Solsource Shark Tank Pitch

Catlin Powers appeared on Shark Tank Season 9, Episode 22, which aired on February 10, 2018, with solar cooking products making it simple to cook anywhere under the sun.

Solsource is listed in the Fitness Outdoors category. In plain terms, the business is described as solar cooking products making it simple to cook anywhere under the sun.

Solsource asked the Sharks for $500,000 for 3%, implying a valuation of about $16.7 million.

On the show, Solsource made a listed deal with Mark Cuban for $500,000 for 4%.

If treated as straight equity, the listed deal works out to about $12.5 million implied valuation, down from the original $16.7 million implied valuation.

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

Solsource After Shark Tank

SolSource accepted an on-air deal with Mark Cuban, but the deal did not close after filming. (One Earth Designs/SolSource Shark Tank Blog update

The company behind SolSource, One Earth Public Benefit Corporation, announced that it would cease operations effective January 1, 2020. (One Earth Designs/SolSource Shark Tank Blog update

The for-profit solar-cooker business shut down at the end of 2019, even though related nonprofit/social-impact work was expected to continue separately. (One Earth Designs/SolSource Shark Tank Blog update

SolSource is therefore out of business as a consumer product company. (One Earth Designs/SolSource Shark Tank Blog update

Sources

Sources used for this page: Shark Tank API pitches