Did The Dirty Cookie appear on Shark Tank Season 13? Yes, The Dirty Cookie did appear on Shark Tank Season 13, successfully securing an investment from Robert Herjavec. They initially sought $500,000 for 5% of their company but closed a deal for $500,000 for 25%, with the equity stake reducing to 15% upon reaching $5 million in revenue in 2022.
Summary
- The Dirty Cookie, specializing in “memorable edible dessert gifts,” appeared on Shark Tank Season 13.
- They impressed the Sharks and secured a deal with Robert Herjavec.
- The initial ask was $500,000 for 5%, but the final deal was for $500,000 for 25%, with potential reduction to 15%.
- The investment will likely fuel the company’s growth and expansion.
The Dirty Cookie Shark Tank Update | Shark Tank Season 13
The Dirty Cookie isn’t your average bakery. They specialize in creating edible cookie shots – a delightful combination of a cookie and a shot glass, perfect for filling with your favorite beverage.
Their innovative concept transforms a simple cookie into a fun and memorable experience.
Their Unique Selling Proposition
What sets The Dirty Cookie apart is their dedication to crafting ‘memorable edible dessert gifts.’
They’ve cleverly combined the indulgence of cookies with the novelty of a shot glass, resulting in a product that’s both delicious and conversation-starting.
This unique offering makes them stand out in the crowded dessert market.
The Dirty Cookie’s Shark Tank Journey
1. The Pitch
| Entrepreneurs | Jovon English and Jarod Stewart |
|---|---|
| Business | The Dirty Cookie |
| Ask | $500,000 for 5% |
| Deal | $500,000 for 25% (reduces to 15% upon hitting $5M in revenue in 2022) |
| Sharks | Robert Herjavec |
| Season | Shark Tank USA Season 13 |
| Original Air Date | To be confirmed |
| Website | The Dirty Cookie |
| Key Points of Pitch |
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| Why Sharks Accepted |
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2. The Sharks’ Reactions
The Sharks were immediately intrigued by The Dirty Cookie’s unique product.
They were impressed by the company’s sales figures and recognized the potential for expansion into various markets.
The entrepreneurs’ passion and drive further solidified the Sharks’ interest.
3. The Negotiation
The initial ask of $500,000 for 5% sparked a lively negotiation. The Sharks acknowledged the company’s potential but also wanted to ensure a fair deal for their investment.
Robert Herjavec saw the most promise in The Dirty Cookie and presented an offer that reflected both the company’s value and his desire for a significant stake.
4. The Final Deal
After careful consideration, Jovon and Jarod accepted Robert Herjavec’s offer of $500,000 for 25% equity.
The deal included a clause that would reduce the equity stake to 15% if the company reached $5 million in revenue in 2022.
This mutually beneficial agreement set the stage for The Dirty Cookie’s continued growth and success.
The Investment Details
1. Original Ask vs. Final Deal
The Dirty Cookie initially entered the Shark Tank seeking a $500,000 investment in exchange for a 5% stake in their company.
This valuation placed a significant value on their innovative product and promising early sales figures.
However, the Sharks, while impressed, were also seasoned negotiators. The final deal saw the investment amount remain the same at $500,000, but the equity stake increased to 25%.
This change reflects the Sharks’ desire for a larger share in the company’s potential success, while still providing The Dirty Cookie with the capital needed to fuel their growth.
2. The Investor: Robert Herjavec
The winning bid came from Robert Herjavec, a renowned tech entrepreneur and seasoned Shark Tank investor.
Herjavec’s expertise in technology and business growth made him an ideal partner for The Dirty Cookie.
His investment signifies a strong belief in the company’s potential to scale and disrupt the dessert market.
3. The Equity Stake and its Conditions
The final deal included an interesting condition tied to the equity stake. While Herjavec initially acquired 25% of the company, this stake would decrease to 15% if The Dirty Cookie achieved $5 million in revenue by the end of 2022.
This performance-based clause incentivized the founders to drive aggressive growth, rewarding them with increased ownership if they met the ambitious revenue target. It also showcased Herjavec’s confidence in their ability to achieve significant success.
The Dirty Cookie’s Future Plans
1. How the Investment Will Be Utilized
The Shark Tank investment serves as a powerful catalyst for The Dirty Cookie’s growth plans. The influx of capital will primarily be channeled towards scaling production capabilities.
This will allow them to meet the anticipated surge in demand following their national television exposure.
Additionally, a portion of the funds will be allocated to marketing and branding efforts. This will help increase brand awareness and reach a wider audience, further driving sales and solidifying their position in the market.
2. Growth and Expansion Strategies
The Dirty Cookie’s future is bright, with a multi-faceted growth strategy in place. They plan to expand their product line by introducing new flavors and variations of their edible cookie shots. This diversification will cater to a broader customer base and open doors to new market segments.
Furthermore, they intend to explore partnerships with retailers and distributors. This strategic move will make their products more accessible to consumers across the country, boosting sales and brand recognition.
The Dirty Cookie also sees potential in the catering and events industry. Their unique and visually appealing product is a perfect fit for weddings, parties, and corporate events, providing another avenue for revenue growth.
FAQs
What are the most popular products from The Dirty Cookie?
The Dirty Cookie’s signature edible cookie shots are their most sought-after product. These innovative treats come in various flavors, catering to different tastes.
How has the company grown since appearing on Shark Tank?
While specific growth figures are not publicly available, it’s safe to assume that The Dirty Cookie has experienced significant expansion since their Shark Tank appearance. The investment and national exposure would have undoubtedly fueled increased sales and brand awareness.
What advice do the founders have for aspiring entrepreneurs?
Jovon and Jarod’s journey underscores the importance of innovation, passion, and perseverance. Their advice to aspiring entrepreneurs would likely revolve around believing in your idea, staying dedicated, and being prepared to adapt and evolve as your business grows.
The Bottom Line
The Dirty Cookie’s success story is a testament to the power of a unique concept, a strong entrepreneurial spirit, and the right investment. Their Shark Tank appearance propelled them to new heights, providing the resources and exposure needed to turn their vision into a thriving reality.
With ambitious growth plans in place, The Dirty Cookie is poised to become a household name in the dessert industry, proving that sometimes, the sweetest success comes from thinking outside the (cookie) box.
