How Vade Nutrition made a Big Splash on Shark Tank
If you haven’t heard of Shark Tank, it’s a reality TV show where entrepreneurs pitch their business ideas to a panel of potential investors, or “sharks.” Among the countless pitches, only a handful manage to grab the attention of the sharks, let alone receive a deal. However, Vade Nutrition, a company that produces dissolvable and customizable protein scoops, proved to be one of those rare success stories.
The Background of Vade Nutrition
Before Vade Nutrition’s appearance on Shark Tank, the company was founded in 2015 by Joe Johnson and his friend and business partner, Meg Hewitt. The idea for the company originated from Johnson’s frustration with the inconvenience and wastefulness of protein powder packaging. Johnson’s solution was to create protein scoops that could dissolve in water, eliminating the need for plastic canisters.
Vade Nutrition started out as a small e-commerce business and steadily gained a following. After experiencing their product’s success in the market, Johnson and Hewitt applied to participate in Shark Tank.
The Pitch
On Shark Tank, Vade Nutrition’s representatives presented their product to the sharks, highlighting its convenience, customization, and eco-friendliness. The sharks were impressed with the product and its potential, ultimately leading to a successful deal with Robert Herjavec for $700,000 for 33.3% equity.
The Aftermath
After securing funding from Herjavec, Vade Nutrition experienced an influx of attention and growth. The company expanded its product line, and its sales increased by over 1200%. Additionally, Vade Nutrition secured deals with several major retailers, including Walmart and Amazon. Since the Shark Tank episode aired, Vade Nutrition has continued to grow rapidly, solidifying its position in the protein supplement market.
The Key Takeaways
Vade Nutrition’s success on Shark Tank can be attributed to several factors:
- Strong product innovation that solved a common problem in the market
- Presentation skills that effectively communicated the product’s value proposition
- A well-thought-out business strategy and vision for growth
- A successful partnership with a shark who understood and shared the company’s goals
Overall, Vade Nutrition’s appearance on Shark Tank proved to be a turning point for the company, catapulting it into the public eye and accelerating its growth. For aspiring entrepreneurs, Vade Nutrition serves as a valuable case study in terms of creating and presenting a successful pitch.
