In 2023, Tracybee stunned viewers on Shark Tank Vietnam Season 6. The premium green propolis brand won a record-breaking $1 million investment for 15% equity, becoming the first million-dollar deal given to a female founder. But beyond the cameras and applause, the question remains: where is Tracybee today? This article explores the journey, milestones, impact, open questions, and the ambitious 1 trillion VND valuation target by 2030.
The Shark Tank Pitch That Made History
Who Is Lê Ngọc Thu Trang?
Born in 1981, Trang started her career in the banking sector after graduating from Foreign Trade University and earning a Master’s in Finance in Australia. She spent four years at a multinational bank in Ho Chi Minh City. Eventually, she felt the pull toward creating something meaningful.
Drawing inspiration from her husband’s family beekeeping legacy dating back to 1975, she launched Tracybee in 2013 to fill a market gap in Vietnam. The country, despite being a top exporter of raw honey, lacked premium branded products with international quality and trust.
Why Tracybee Stood Out on Shark Tank Vietnam
Trang’s pitch captured more than interest. It delivered trust and science. Tracybee is the exclusive Vietnamese partner of Brazil’s Apis Flora and uses their patented EPP-AF green propolis extraction technology. This process yields three times more flavonoids and significantly boosts Artepillin C bioavailability, both of which are crucial for immune support and antibacterial effects.
Equally impressive were the numbers. Tracybee generated ₫69 billion VND in revenue in 2022 and ₫18 billion VND in after-tax profit, a rare 26% profit margin for a consumer health startup. The story, mission, and performance combined to create a standout pitch.
The Historic Deal
Trang initially asked for $1 million in exchange for 8% to 12% equity. The Sharks were quick to respond. Offers included:
- Hung Anh: $500,000 for 10%
- Tue Lam: $500,000 for 7%
- Hung Anh again: $1 million for 19%
Trang countered and held firm. Eventually, she secured $1 million for 15% equity, along with a performance clause promising ₫300 billion VND in revenue by 2025. If unmet, she would buy back the investment. Her negotiation skill impressed the panel and viewers alike.
What Made Tracybee’s Green Propolis So Special?
EPP-AF Technology Backed by Science
The EPP-AF technology, developed by Apis Flora in Brazil, stands as a gold standard in propolis extraction. This method ensures consistent concentrations of active compounds and better absorption by the human body. Studies have shown:
- Triple the concentration of flavonoids
- Up to 300% improved absorption rates
- Proven antimicrobial and antioxidant properties
- Effectiveness in reducing inflammation and supporting immunity
Tracybee became the first brand in Vietnam to offer green propolis with such scientifically validated benefits.
A Natural Alternative to Antibiotics
With growing concerns over antibiotic resistance, consumers are actively seeking natural solutions. Tracybee’s green propolis, combined with its natural honey and syrup lines, offers a plant-based remedy trusted by both families and healthcare providers.
A New Standard for Quality and Trust
Before Tracybee, Vietnam’s propolis market was largely unregulated. Tracybee changed this by:
- Introducing consistent quality checks with over 100 tests per batch
- Earning international awards including London Honey Platinum and Brussels Superior Taste
- Offering full traceability and transparency
The company successfully elevated a traditional product into a modern, science-backed wellness brand.
Financial Snapshot Before and After the Tank
2022 Financial Highlights
- Revenue: ₫69 billion VND
- Net Profit: ₫18 billion VND
- Profit Margin: Approximately 26%
- Propolis Contribution: 80% of total revenue
These strong financials set the foundation for investment and growth.
Post-Shark Tank Momentum
Following the Shark Tank appearance, Tracybee experienced a 40% increase in sales. The brand expanded to:
- National pharmacy chains such as Pharmacity and Trung Sơn
- Distribution within hospital systems
- Enhanced e-commerce performance on platforms like Shopee and Lazada
Tracybee also launched a new product called Tracy Kefir, a probiotic-rich fermented milk drink aimed at gut health, signaling its entry into broader wellness segments.
Lack of Updated Financials for 2023 and 2024
Despite early momentum, Tracybee has not released financial reports for 2023 or 2024. This makes it difficult to evaluate how sustainable the growth has been beyond the Shark Tank effect.
Is Tracybee Still on Track for a 1 Trillion VND Valuation by 2030?
The Vision
Lê Ngọc Thu Trang aims to reach a ₫1 trillion VND valuation, equal to around $40 million USD, by 2030. This would require significant scaling across product lines, revenue streams, and international markets.
Progress Made
Since Shark Tank, Tracybee has:
- Expanded its pharmacy and hospital partnerships
- Increased product offerings with a focus on wellness
- Participated in international exhibitions, suggesting export intentions
Challenges Ahead
- No confirmation has been made regarding revenue targets or valuation increases since 2022
- In 2024, Tracybee was listed in a minor tax enforcement report. While it was resolved, the case brought attention to corporate governance
- The deal with Shark Hung Anh has not been publicly updated, leaving uncertainty about the capital infusion and his involvement
What Customers and the Public Think Now
Customer Feedback
On platforms like Shopee and Lazada, Tracybee’s products receive high ratings. Common positive feedback includes:
- Great taste and effectiveness
- Fast delivery and secure packaging
- Trust in its natural ingredients
Tracybee’s green propolis spray and children’s syrup are particularly popular among families.
Brand Activity and Engagement
The company maintains an active presence on social media, publishing:
- Customer testimonials
- Educational health content
- Updates on new product launches
This ongoing engagement helps reinforce the brand’s credibility and mission.
Unanswered Questions Around the $1 Million Deal
Was the Investment Finalized?
Although the deal was confirmed on-air, there has been no public documentation or official follow-up from either party regarding the completion of the investment. Some business data platforms still list Tracybee as unfunded.
Is Shark Hung Anh Still Involved?
Shark Hung Anh was expected to provide not just capital but strategic support in digitization and scaling. However, there have been no public statements, interviews, or updates indicating his continued role in the company.
Conclusion: From Beehives to Billion-VND Dreams
Tracybee started with a mission to turn Vietnam’s natural bee products into a globally trusted health brand. With science, legacy, and a high-profile Shark Tank moment, it captured national attention.
But the next chapter depends on:
- Transparent financial updates
- Continued innovation in natural health products
- Strategic leadership and possibly further partnerships
The brand has made significant strides. However, reaching a ₫1 trillion VND valuation by 2030 will require more than past success. It will depend on Tracybee’s ability to scale effectively and maintain consumer trust over time.
TL;DR (Too Long; Didn’t Read)
Tracybee, a Vietnamese health brand known for its premium green propolis, made history with a $1 million Shark Tank Vietnam deal. Since then, the brand has expanded rapidly, but questions remain about its $1 trillion VND valuation goal and investor involvement.
FAQs
Is Tracybee still in business in 2025?
Yes, Tracybee continues to operate in 2025. It has broadened its product range with green propolis, honey, and the new Tracy Kefir beverage, and its products are available both online and through major pharmacy chains.
Who invested in Tracybee on Shark Tank Vietnam?
Shark Lê Hùng Anh invested $1 million for a 15% equity stake, marking the first million-dollar deal awarded to a female founder on the show.
What is Tracybee currently worth?
Following the Shark Tank deal, Tracybee’s implied post-money valuation was about $6.7 million USD (~₫167 billion VND). The company aims to reach a 1 trillion VND valuation by 2030, but updated financials are not yet publicly available.
Where can I buy Tracybee green propolis products?
You can purchase Tracybee green propolis sprays, syrups, and honey via Shopee, Lazada, their official website, and in-store at pharmacies and hospital outlets like Pharmacity, Long Châu, Trung Sơn, and Nhan Hoa.