Palmini Shark Tank Update

Palmini Shark Tank Pitch

Alfonso Tejada appeared on Shark Tank Season 9, Episode 24, which aired on February 24, 2018, with Healthy pasta substitute made of hearts of palm.

Palmini is listed in the Food Beverage category. In plain terms, the business is described as Healthy pasta substitute made of hearts of palm.

Palmini asked the Sharks for $300,000 for 10%, implying a valuation of about $3 million.

On the show, Palmini made a listed deal with Mark Cuban and Lori Greiner for $300,000 for 25%.

If treated as straight equity, the listed deal works out to about $1.2 million implied valuation, down from the original $3 million implied valuation.

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

Palmini After Shark Tank

Palmini accepted an on-air deal with Mark Cuban and Lori Greiner for $300,000 for 25% equity. (Palmini Shark Tank Blog update

The Shark Tank bump was immediate: early follow-up reporting says Palmini sold out within 24 hours of airing and climbed near the top of Amazon’s pasta category. (Shark Tank Hub Palmini update

The brand expanded from canned hearts-of-palm pasta into different cuts and formats, including angel hair, lasagna, linguine, rice and mashed alternatives. (Palmini Shark Tank Tales update

Palmini remains active through retail and e-commerce channels as a low-carb, gluten-free, plant-based pasta alternative brand. (Palmini Shark Tank Tales update

Sources

Sources used for this page: Shark Tank API pitches