What is Nui? Nui was a company that made low-sugar, high-fat keto cookies. They were featured on Season 10 of Shark Tank and made a deal with Alex Rodriguez, but ultimately went out of business in 2020.
Summary
- Nui was a company that made low-sugar, high-fat keto cookies.
- They appeared on Shark Tank Season 10 and made a deal with Alex Rodriguez for $300,000 for 25% equity.
- Despite initial success, the company faced setbacks due to moldy cookies from a co-packer.
- Nui went out of business in 2020.
- Co-founder Kristopher Quiaoit declared bankruptcy, while Victor Macias now runs a blog about entrepreneurship.
Nui Shark Tank Update | Shark Tank Season 10
What is Nui?
Nui was a company that created low-sugar, high-fat cookies specifically designed for people following the ketogenic diet. Keto is a popular way to eat that focuses on consuming very few carbohydrates and a lot of healthy fats.
This helps the body burn fat for energy instead of sugar. Regular cookies are loaded with sugar, so Nui wanted to provide a tasty alternative for those who had given it up.
Nui on Shark Tank
The founders of Nui, Kristopher Quiaoit and Victor Macias, appeared on the popular TV show Shark Tank in 2018.
They hoped to convince the “sharks,” a panel of successful investors, to invest money in their company. Nui’s appearance on Shark Tank gave them a lot of attention.
Their cookies were unique, and their story resonated with many viewers. But what happened after the cameras stopped rolling? Let’s take a closer look at Nui’s journey.
Nui Cookies: A Sweet Idea
1. The Founders’ Story
Kristopher and Victor were friends who decided to try the keto diet together. They quickly realized how hard it was to find sweet treats that fit their new lifestyle.
Missing their favorite cookies, they started experimenting in Kristopher’s mother’s kitchen. Their goal was simple: create a cookie that tasted great but was low in sugar and carbs.
2. The Keto-Friendly Solution
After many attempts, they finally found the winning recipe. Nui cookies were made with almond flour instead of regular flour, which is high in carbohydrates.
They also used natural sweeteners like monk fruit and erythritol, which don’t spike blood sugar levels the way regular sugar does.
This made Nui cookies a guilt-free indulgence for keto dieters and people with diabetes.
3. Nui’s Products and Flavors
Nui offered a variety of classic cookie flavors with a healthy twist. Some of their popular options included:
- Chocolate Chip: A timeless favorite made with real chocolate chips.
- Peanut Butter: A creamy and satisfying option for peanut butter lovers.
- Double Chocolate: A decadent treat with a rich chocolate flavor.
- Ginger Something: A unique flavor with a hint of spice.
These cookies were sold online and gained a loyal following thanks to their delicious taste and health benefits.
Nui on Shark Tank Season 10
1. The Pitch
Kristopher and Victor stepped into the Shark Tank with confidence and a tempting offer for the investors. Here’s a breakdown of their pitch:
| Entrepreneurs | Kristoffer Quiaoit and Victor Macias |
|---|---|
| Business | Nui (low-sugar, keto-friendly cookies) |
| Ask | $300,000 for 10% equity |
| Deal | $300,000 for 25% equity |
| Sharks | Alex Rodriguez |
| Season – Episode | Season 10 – Episode 7 |
| Original Air Date | November 25, 2018 |
| Website | Nui |
| Key Points of Pitch |
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| Why Sharks Accepted |
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2. Offers from the Sharks
Not all the sharks were keen on investing in Nui. Mark Cuban was already invested in a similar company, and Lori Greiner thought Nui’s valuation was too high.
However, three sharks were interested and made offers:
- Kevin O’Leary: Offered $300,000 for 2.5% equity and a royalty fee on each cookie sold. This meant he would earn money on every box of cookies until his initial investment was repaid, and then a smaller amount indefinitely.
- Barbara Corcoran: Offered $300,000 in total, with half as a cash investment and half as a line of credit. She wanted 15% equity and a smaller royalty fee than Kevin.
- Alex Rodriguez: Offered $300,000 for 25% equity, with no royalty fees.
3. The Deal with Alex Rodriguez
Kristopher and Victor were hesitant about the royalty fees proposed by Kevin and Barbara. They felt these would cut into their profits and make it harder to grow the business.
Alex Rodriguez, a former professional baseball player and successful entrepreneur, offered them a straightforward deal with no ongoing fees.
They ultimately decided to accept his offer, securing a partnership with a high-profile investor.
Nui After Shark Tank: What Happened?
1. Initial Success and Expansion
Things looked promising for Nui after their Shark Tank appearance. They gained many new customers and increased their sales.
To keep up with the growing demand, they expanded their product line. They introduced chewy cookies alongside their original crispy ones, giving customers more choices.
They even secured deals to sell their cookies in major retailers like Walmart and on Amazon. This meant their products were available to a much wider audience.
2. The Co-packer Issue and Financial Struggles
Unfortunately, Nui’s success was short-lived. They ran into a major problem with their co-packer, the company they hired to help manufacture and package their cookies.
The co-packer shipped out a batch of cookies that weren’t properly prepared, and they began to grow mold.
This led to a flood of complaints from customers and a huge financial loss for Nui. They had to issue refunds and throw away a significant amount of product.
To make matters worse, Nui didn’t have insurance to cover this kind of disaster. They had to take on a lot of debt to manage the crisis and try to keep the business afloat.
They launched a new line of cookies, hoping to regain their footing, but the debt became an overwhelming burden.
3. The Closure of Nui
Despite their best efforts, Kristopher and Victor couldn’t recover from the financial setback. Nui’s social media accounts went quiet, and their website shut down.
In 2020, they officially closed the business. The dream they had worked so hard to build crumbled before their eyes.
4. Where Are the Founders Now?
The experience took a significant toll on both founders. Kristopher even had to declare personal bankruptcy. However, they both eventually moved on to new ventures.
Victor now runs a website and blog focused on entrepreneurship, where he shares his knowledge and sells courses.
Kristopher co-founded a new company called Good Journey, which makes low-sugar donuts. Though Nui ultimately failed, both founders seem determined to continue their entrepreneurial journeys.
Lessons Learned from Nui’s Journey
Nui’s story, though ultimately a sad one, offers valuable lessons for aspiring entrepreneurs and business owners.
1. The Importance of Quality Control
Nui’s downfall stemmed largely from a quality control issue with their co-packer. This highlights how crucial it is to maintain strict quality standards throughout the production process.
Businesses should carefully vet and monitor their manufacturing partners to ensure they meet the required standards.
Regular inspections and product testing can help identify potential problems early on, preventing a larger crisis.
2. The Challenges of Scaling a Business
Nui experienced rapid growth after their Shark Tank appearance. This can be exciting, but it also brings challenges.
Scaling a business requires careful planning and execution. It’s essential to have the right infrastructure and resources in place to handle increased demand.
This includes everything from production capacity and supply chain management to customer service and order fulfillment.
3. The Impact of Unexpected Events
No matter how well you plan, unexpected events can derail a business. Nui’s co-packer issue is a prime example. It’s crucial to have contingency plans in place to deal with unforeseen circumstances.
This might include having insurance to cover potential losses, diversifying suppliers to reduce reliance on a single source, and building a financial cushion to weather difficult times.
Nui’s story is a reminder that entrepreneurship is a journey filled with both triumphs and setbacks. By learning from the experiences of others, businesses can increase their chances of success and navigate the challenges that inevitably arise.
FAQs
What were Nui cookies?
Nui cookies were low-sugar, keto-friendly cookies. They were made with almond flour and natural sweeteners, making them a healthier alternative to traditional cookies.
Why did Nui cookies fail?
Nui cookies faced a major setback due to a co-packer issue. A batch of cookies was shipped out with mold, leading to customer complaints, refunds, and significant financial losses. This, coupled with the lack of insurance and mounting debt, ultimately led to the closure of the business.
Are Nui cookies still available?
No, Nui cookies are no longer available. The company ceased operations in 2020.
What are the founders of Nui doing now?
Kristopher Quiaoit, one of the founders, co-founded a new company called Good Journey that makes low-sugar donuts. Victor Macias, the other founder, runs a website and blog focused on entrepreneurship, where he shares his knowledge and sells courses.
What can entrepreneurs learn from Nui’s story?
Nui’s story highlights the importance of quality control, the challenges of scaling a business, and the need to prepare for unexpected events. It serves as a reminder that even with a great product and initial success, businesses need to be vigilant and adaptable to survive.
The Bottom Line
Nui cookies had a promising start, captivating the attention of consumers and investors alike with their delicious, keto-friendly treats. Their appearance on Shark Tank propelled them to new heights, but unforeseen challenges ultimately led to their downfall. The co-packer incident and subsequent financial struggles proved insurmountable, forcing the company to close its doors.
Nui’s story is a cautionary tale that underscores the importance of careful planning, quality control, and financial preparedness in the unpredictable world of business. While their journey may have ended sooner than expected, the lessons learned from their experience can serve as valuable guidance for other entrepreneurs striving for success.
