ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

'Shark Tank' offers a life-changing deal to couple who started their own bakery with just $400

The cookies and brownies make, "Nowhere" was valued at a whopping $1.6 million on the show.
PUBLISHED JAN 25, 2025
Screenshot showing the entrepreneurs pitching their business on Shark Tank and Barbara Corcoran (Cover image source: YouTube/Sony Pictures Television)
Screenshot showing the entrepreneurs pitching their business on Shark Tank and Barbara Corcoran (Cover image source: YouTube/Sony Pictures Television)

By connecting entrepreneurs and star investors while providing exposure on TV screens across the globe, "Shark Tank" has enabled several businesses including those that focus on health. One such venture was Nowhere Bakery whose founders, Saphira and Maurizio Rasti, wanted to give the world allergen-free desserts. The success story of the Costa Mesa, California-based duo is as incredible as their cookies.

Screenshot showing the couple making their pitch (Image source: YouTube/Sony Pictures Television)
Screenshot showing the couple making their pitch (Image source: YouTube/Sony Pictures Television)

The Rasti couple appeared on Shark Tank Season 15 to pitch their business with an ask of $200,000 for 5% equity. They explained that while Maurizio had a bulletproof stomach, Saphira had a lot of allergies. Since the two had a sweet tooth and they couldn't find anything in the market that was allergen-free, made with healthy ingredients, and tasty, they founded Nowhere Bakery, to make their own desserts.

Screenshot showing the products of Nowhere Bakery (Image source: YouTube/Sony Pictures Television)
Screenshot showing the products of Nowhere Bakery (Image source: YouTube/Sony Pictures Television)

Nowhere Bakery specializes in cookies and brownies, that are made from healthy ingredients, and are free from dairy, eggs, gluten, soy, refined sugar, sugar alcohols, and also paleo-friendly. The couple shared samples of their products with the Sharks which included a chocolate chip cookie, a candy bar cookie, and an almond butter brownie. “This tastes like a real cookie,” Barbara Corcoran said, expressing surprise. “This tastes absolutely delicious.” Kevin O’Leary commented. “I congratulate you. We’ve had so many plant-based cookie deals and they all taste like s---," he added. 

Screenshot showing Kevin O'Leary eating a brownie (Image source: YouTube/Sony Pictures Television)
Screenshot showing Kevin O'Leary eating a brownie (Image source: YouTube/Sony Pictures Television)

Coming down to the numbers, the Rastis shared that in their first year, 2020, they closed with $92,000 in sales. The next year, they went up to $524,000 in sales, and in 2022, they had $770,000 in sales where they made $32,000 in profits. Finally, for 2023, they projected $1 million in sales. The sharks weren't really impressed with their profit margin. However, the founders explained that given how they started the company with only $400, they have come a long way with their online direct-to-consumer model and the wholesale model.

O’Leary still expressed concern over the company’s profit margins and suggested that they would make more money by switching from a commercial kitchen to finding a co-packer. He then offered them the $200,000 but for 20% equity, given they worked with a co-packer. “Otherwise, I’m sorry, I’m not interested,” he said.

Screenshot showing Kevin O'Leary talking to the couple (Image source: YouTube/Sony Pictures Television)
Screenshot showing Kevin O'Leary talking to the couple (Image source: YouTube/Sony Pictures Television)

Barbara Corcoran disagreed with O’Leary and assured the Rastis that their plan was the one to go with. She too offered them $200,000, out of which $100,000 would be a cash investment and the $100,000 would be a line of credit for 15% of equity. Meanwhile, Mark Cuban said he was rather concerned with what he saw on the packaging of the cookie. “It tasted amazing until I looked at the back, now I’m going to be in the gym for 17 hours tonight. One cookie is 300 calories!" he said before opting out.

Guest judge Jason Blum, the CEO of Blumhouse Productions, offered to join O’Leary’s deal, splitting the money and equity down the middle. However, Corcoran countered the deal by sharing how she had helped a similar business called Kate’s Kookies.

Screenshot showing Barbara Corcoran talking to the entrepreneurs
Screenshot showing Barbara Corcoran talking to the entrepreneurs (Image source: YouTube/Sony Pictures Television)

Kicking off the negotiations, Maurizio countered Corcoran's offer by asking for $400,000 for the 15% equity. When she turned him down, Saphira countered the offer by offering 12.5% equity for the $200,000 split. Corcoran agreed to the deal, which valued the company at $1.6 million, according to a CNBC Make It estimate.



 

As per Shark Tank Blog, Nowhere Bakery is going strong with its products in 75 stores across the West Coast. Their cookie, brownie, and blondie mixes are also available online at Amazon and on their website.

MORE ON MARKET REALIST
The comedian was impressed by the simplicity of the product and amused by the pitch.
5 hours ago
Harrison usually makes smart deals on the show, but this vintage car buy turned into a costly mistake.
8 hours ago
Had she started the game in a better way, she might have won the five-figure prize money.
9 hours ago
Barbara Corcoran made the exact same offer, and she wasn't happy about being rejected.
1 day ago
The guest believed that it was worth a modest amount of money, but that was clearly not the case.
1 day ago
With James Holzhauer in the lead, Amy Schneider and Andrew He decided to joke around.
1 day ago
Barbara Corcoran told the founders that she had never seen Greiner so passionate.
1 day ago
The guest said that it was left to her by her grandmother who passed at the age of 102.
2 days ago
The host was quick to latch on to his way of speaking and made a mockery of it on TV.
2 days ago
The contestant was clearly just happy to win the chance of being on the same stage as Drew Carey.
2 days ago
The player, Thomas Russo, nearly put all of his strength into spinning the wheel.
2 days ago
Things took a turn for the better with the shark as far as the entrepreneurs were concerned.
3 days ago
The expert pointed out the intricate details on the item and said it was a personal item of the royals.
3 days ago
The expert said that if the signature was on a letterhead when Garfield was President, it would be worth more.
3 days ago
Had the contestants not gotten their gamble right, they would have lost everything they'd earned.
4 days ago
The revelation came thanks to a fan who asked the question during a "Jeopardy!" taping.
4 days ago
The entrepreneurs' decision came as a big shock to the sharks, and they did not hide it.
4 days ago
Tina double-guessed her third answer, "Does April have 31 days?" Harvey gave her the stink eye.
4 days ago
All the theatrics didn't work when sharks started scrutinizing profit margins.
4 days ago
"Can I stop at any time?" the player nervously inquired. "You can stop any time you want, yes," Carey assured.
4 days ago