“Pricklee” got featured on Shark Tank USA on 2022 May. It was founded by Kun Yank and Mo Hassoun.The trend of coconut milk has run its course, and the market needs something new badly. This idea led Kun Yank and Mo Hassoun to find cactus water, similar to coconut water but has less sugar and calories. Look closely at this cactus water business, including Pricklee Cactus Water’s net worth and what happened to Pricklee Cactus Water after Shark Tank.
Pricklee Net Worth in 2023
Pricklee has estimated net worth in 3 million USD, as of 2023. Here is an update on Pricklee’s net worth so far.
|Pricklee’s Net worth before appearing on Shark Tank||4 Million USD (business valuation)|
|Pricklee’s Current Net worth (2023)||3 million USD|
Pricklee’s founders Kun Yank and Mo Hassoun have a net worth of 200,000 USD as of 2022.
What is Pricklee Cactus Water?
The Pricklee company manufactures fruity water from cacti. It tastes like coconut water but has 35 calories and 7g of sugar. Five friends started this business, and it is very well-known now. More than 100 years ago, this fruit was eaten by people in Mexico. This drink tastes clean and fruity, but it has a lot more sugar than other drinks that taste fruity.
Pricklee uses “premium, sustainably-grown prickly fruits, the superfruit of the desert. It contains more natural antioxidants than a cup of green tea. This drink is the best way to stay hydrated and gives you Vitamin C, Flavonoids, Butalines, and Polyphenols.
Who owns Pricklee cactus water?
Pricklee was started by Kun Yang (CEO), Mohammed Hassoun (COO), Jaanai Babb (CMO), Sarwang Shah (CSO), and Aakash Dheri (CFO). All 5 of them work in health care, but they didn’t like coconut water much and were looking for something healthier. Here is where Mohammed Hassoun came up with making a refreshing drink out of prickly pears.
What happened at the Shark Tank?
Kun and Mohammed participated in the Shark Tank to share 5% of their business for $200,000. In the beginning, they say that coconut water is “out.” Coconut water has twice as many calories as cactus water. The Sharks try the original taste, and they like all of them.
Kevin asks how much it costs to get a new customer. They made $55,000 last month. It costs $1 to make each can at the moment, but that will go down to 65 cents. They cost $1.67 to buy in bulk and sell for $2.99 to $3.49 in stores. Mark says he drinks a lot of coconut water and thinks Pricklee has fewer nutrients.
Lori prefers that it comes from cactus, but she believes it’s too early, so she’s out. Mark thinks they should have paid more attention to how long the project would last. Emma says yes, and she leaves. Barbara said that she had lost money in the past on drinks, so she was done. Kevin says he doesn’t like drink deals, but he doesn’t dislike these people as much. He offers $200,000 for 20%, and you can either take it or not.
The guys don’t want to lose so much equity. They offer $200,000 for a line of credit and 5% of the business. Kevin says he’ll go to 10%, but Barbara jumps in and says she’ll take the 5% deal.
Pricklee Cactus Water SHARK TANK UPDATE
What happened to Pricklee Cactus Water After the Shark Tank
Pricklee Cactus Water’s startup got viral after the Shark Tank episode. The completion of the deal also helped to make the vibe. However, there is no clear evidence to prove the deal closed with Shark Barbara Corcoran.
Pricklee’s business is still in business, and they are still growing. Along with all those success stories, Pricklee Cactus Water’s net worth is estimated at around 2 million dollars for 2022.
Competitors of Pricklee Cactus Water
Pricklee belongs to the beverage category. Considering that fact, we can see many Competitors of Pricklee Cactus Water, including big brands. However, Pricklee is a unique product. So, there is no 100% alternative competitor for the business yet.