People find refreshments in different fruit juices found in the market. Their fizziness and taste make them more palatable. However, we have been only using traditional fruits like mango and coconut, which have become outdated.
Kun Yang and Mo Hassoun, the owners of Pricklee Cactus Water, have replaced fruits with more unexpected plants. The company is using cactus, a dry thorny desert plant, as an alternative to traditional fruits like coconut. The drink is not only less calorie but also carbonation-free, making it a refreshing and healthy choice.
The owners came on Shark Tank to request 200K for 5% of their company. They also introduced their three different flavors to the sharks to mark an impression. Let’s explore their journey on the show.
Pricklee Cactus Water Net Worth Shark Tank Update
Kun and Mo were looking for an investment of $200K in exchange for 5% equity in their company. At the time of the episode, they valued their company at $4 million. Kun and Mo successfully secured a deal with Barbara Corcoran for an investment of $200K for 5% equity along with a line of credit. The investment maintained the company’s net worth at $4 million. After the show was aired, Pricklee Cactus Water saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of Pricklee Cactus Water in 2024 is around $3 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
$200K for 5% equity
$200K for 20% equity
No
Mark Cuban
Out
N\A
N\A
Robert Herjavec
Out
N\A
N\A
Emma Grede
Out
N\A
N\A
Barbara Corcoran
$200K for 5% equity
$200K as a line of credit and 5% equity
Yes
The Owner’s Backstory
Mo is from Lebanon and he enjoyed cactus juice from the Pricklee pear a lot. His grandma used to make it from the plant with her own hands. Afterward, when he saw similar juice in the market, he decided to make his own company by replicating his grandma’s recipe. Thus, he joined with Kun and launched Pricklee Cactus Water.
The duo came on the show to seek $200K for a 5% equity stake. Their product is a low-sugar and low-calorie alternative to traditional fruit juices. The main ingredient is cactus and the product comes in three different flavors including, bubble gum, strawberry hibiscus, and mango ginger.
Queries about the Product
Kevin asked the first question about the amount of sugar in the drink. Kun replied that it only contains seven grams of sugar and it’s only 35 calories.
Emma inquired about their competitors in the cactus drink category. The owner highlighted that there are other cactus-based drinks in the market but theirs is different as the recipe comes from Mo’s grandma from Lebanon.
After showing his concerns regarding the challenges drinks face while distribution, Kevin asked about their sales. Mo highlighted that they had started their business in February and had $55K in sales last month. This month they are estimated to be at $70K.
Lori inquired regarding their medium of sale. They are selling at regional distributions in the Northeast.
Cuban then asked about the cost it took them to make the product. Mo replied that currently it costs them only $1 to make and they are planning to lower it to $0.65. Moreover, they are retailing the product for $2.99 and in New York for $3.49.
Corcoran asked about its pricing compared to coconut water. The owner highlighted that they are on the same level.
Cuban also pointed out that the potassium and electrolyte levels in their drink are very low compared to coconut water. Kun answered that the main differentiating factor is the amount of antioxidants that are in higher quantity in a can of Pricklee Cactus water compared to a couple of green teas. Moreover, it contains all 24 beta lanes, polyphenols, taurine, and a tinge of vitamin C as well.
Lori was the first shark out as she considers the product to be in its initial stages.
Cuban and Emma backed out because of the sustainability issues.
Corcoran before backing out related to her lost money invested in a chill soda, a couple of years ago because of the distribution problems. She has learned her lesson.
Although Kevin also agreed with Corcoran’s point he still offered them $200K for a 20% equity stake. After showing concerns regarding the offer Kun counter offered him $200K for 5% but with a line of credit.
Cuban then answered that he couldn’t go below 10% and needed a royalty as well, as he wanted his money-back guarantee.
Corcoran then offered them after backing out $200K for 5% with a line of credit.
The owners finally accepted Corcoran’s offer.
Product’s Availability
We have great news about Pricklee Cactus Water. The company has now a social presence on Instagram and TikTok, and they have redesigned their cans and cactus logo. Corcoran is also helping them out in the business till now. The product is available on the Pricklee website, Amazon, and Sprouts Farmers Market locations in more than 20 states. According to the 2023 reports, it has around $1.5M in sales.
Conclusion
Despite facing criticism from sharks on Shark Tank, the company proved to be a mark in the beverage industry. Moreover, they also proved to be lucky for Corcoran and in turn, she is also helping them out with the distribution.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
