The company Souper Cubes was a major success on the reality series Shark Tank in Season 12. Even those who aren't entrepreneurial enjoy seeing the shark investors like Kevin O'Leary interact with business owners and the creative pitches they share. The company has grown since its Shark Tank appearance, so here's a look at Souper Cubes' net worth today.
What exactly are Souper Cubes? They're an invention meant to make reheating leftovers easier. The couple behind Souper Cubes came up with the idea in order to more easily freeze and reheat homemade chicken stock. Check out how the company got started, how it has grown, and what happened on Shark Tank!
How much is 'Souper Cubes' net worth today?
The exact Souper Cubes net worth isn't known for sure, although one site estimates the company's worth at $8 million. SharkTankRecap says it's worth "multiple millions of dollars" and did nearly $1 million in sales in just the first 24 hours after the 'Shark Tank' episode aired.
The idea for Souper Cubes came from a couple looking to solve a common kitchen problem.
Jake and Michelle Sendowski are the main people behind Souper Cubes. Their company's "About" page explains that in 2017 they were looking for a better way to freeze and reheat chicken stock from Michelle's family recipe. Jake drew from his engineering background to help conceptualize a solution, which was Souper Cubes.
The company is still family-owned by the Sendowskis and a business partner. Lori Greiner, the shark who made the winning bid to partner with Souper Cubes, has a stake of 5 percent equity.
What are Souper Cubes?
According to the company website, Souper Cubes are made of thick, 100 percent FDA approved food-grade silicone with stainless-steel wiring that helps add sturdiness. They include fill lines to help you freeze the appropriate amounts and come in a variety of sizes for different freezing needs.
The FAQ section explains that Souper Cubes are free of BPA, lead, PVC, and phthalates. They come with lids for easy freezing and are designed to easily release one cube at a time. This enables you to freeze multiple portions but only thaw the amount you want at any point.
Are Souper Cubes oven-safe? Yes, you can also bake with Souper Cube trays, which are oven-safe up to 415 degrees Fahrenheit (but not the lids). Both trays and lids are dishwasher safe. They're designed to fit a standard freezer.
When was Souper Cubes on 'Shark Tank'?
A major step in the growth of Souper Cubes came when the founders appeared on Shark Tank. Their appearance in Season 12 aired on Feb. 19, 2020. The couple talked about their impressive sales thus far and noted that each tray cost $3.80 to make and retailed for 19.95.
The Sendowskis asked for $400,000 in exchange for 5 percent equity during their Shark Tank pitch. The sharks were so impressed with the product that Souper Cubes received multiple offers during their episode.
Kevin O'Leary offered two options:
- $400,000 for 15 percent equity
- $400,000 for 3 percent equity plus $0.40 royalty until $1 million repaid
Barbara Corcoran made two offers as well:
- $400,000 for 10 percent equity
- $800,000 for 20 percent equity
Lori Greiner was the shark with the winning bid on Souper Cubes. She gave the couple exactly what they asked for: $400,000 with just 5 percent equity. She also awarded them her 'Golden Ticket' and called Souper Cubes the "hero product" of the season up to that point, and they accepted her offer.