Want an update on Shark Tank Season 10 company Yumble? We’ve got details on Yumble’s net worth, its appearance on the ABC reality show, and its failed deal with Real Housewives of New York City alum Bethenny Frankel.
As founder Joanna Parker explained on the show and in the press, she launched Yumble—a subscription service for kids meals—after becoming frustrated with the mealtime routine with her three children. “I found it challenging and stressful to put healthy foods in front of my kids and [have them] throw it on the floor” she told Inc in 2018. “I really developed it out of my personal pain point.”
Joanna and husband David Parker made a big ask on Shark Tank. They wanted $500,000 for a 4 percent stake in Yumble, but they got a bite.
Bethenny Frankel’s offer suggested Yumble had an $8.3 million net worth.
Joanna and David pitched Yumble to the Sharks during the show’s 10th season, citing their $1.3 million in sales by that point. They wowed the Sharks with samples of the Yumble chicken pops and empanadas.
“Yumble is a weekly subscription that offers healthy, fresh, delicious kid meals straight to the doors of busy parents, no cooking required,” David explained during the pitch. “And every meal that we deliver comes with a fun activity and collective to keep your kids excited and engaged.”
Joanna said, “Who wants to join us in taking mealtime stress off the plate of parents forever?”
The Sharks were duly impressed. Kevin O’Leary noted that one of his prior Shark Tank deals, the meal kit company Plated, sold to grocery store chain Albertsons for $300 million. However, O’Leary was worried about the “customer acquisition issue,” especially with competition from companies like Amazon-owned Whole Foods.
However, Frankel bought into the idea and ultimately agreed to invest $500,000 for a 6 percent stake in the business. By that math, the company’s net worth at the time was around $8.3 million.
The company is still in business despite the COVID-19 pandemic.
Joanna offered Forbes an update on Yumble this April. She said that the couple’s deal with Frankel eventually fell apart. Still, the company has experienced a lot of growth since its Shark Tank deals, even amid the coronavirus crisis.
“When COVID first hit, our immediate plan of action was to make sure all of our operations and supply chains were strong enough to accommodate what was about to come our way,” she said. “We developed back up plans in case any of our systems had capacity limits.”
She’s also been making some hires lately. “Because servicing our customers is the top priority, we knew that we needed to bulk up our CX team, offering our customers more hours and more days to get in touch with the team,” she told the magazine.
Now, Yumble is offering easy, healthy kid meals to parents across the country. “Yumble is a lifesaver and has completely changed mealtime for us,” one satisfied customer said in a testimonial on the Yumble website. “We’re saving time by no longer cooking two separate menus every night, and my 3- and 5-year-old eat healthy meals with veggies… every day.”