Snarky Tea - Shark Tank Product Update
Jenni-Lynn Williams entered the tank on Nov. 7, 2017 (Season 9, Episode 8) with her new take on tea - Snarky Tea, a tea designed for bold women who want something more than tea marketed to more laid-back individuals.
With names like "Wake the F**k Up" and "Get Your Sh*t Together" Snarky Tea is anything but traditional. The teas come in exotic brews such as yerba mate and green rooiboos and include ingredients such as rose petals, lemongrass, coconut shred and licorice root.
Williams was seeking an investment of $150,000 for a 25 equity state in her company. In the tank were Kevin O'Leary, Lori Greiner, Robert Herjavec, Mark Cuban and guest shark Bethenny Frankel, founder of the Skinny Girl line of products.
The teas were being sold online and in boutiques and the company had amassed $190,000 in sales in less than a year. O'Leary commented that because it's a product marketed to women, the potential customer base is narrowed. Herjavec thought that the branding was a little too "edgy" and geared towards a niche market. Cuban thought the Amazon would crush the business. Herjavec, Cuban and Greiner went out.
OLeary offered $150,000 for a 50 percent stake, an offer which Bethenny Frankel matched and the two agreed to go in together on a deal. Williams make a counter-offer of a 42 percent stake, then upped it to 49 percent. Those counters were rejected. Williams decided to take the original 50 percent offer
UPDATE ON SNARKY TEAS
Snarky Teas continue to be sold on their web site, through Amazon and in boutiques throughout the country. Their Facebook page has over 35,000 followers and has regular posts.
They have 10.7K followers on Instagram, and 466 followers on Twitter. The New Year's message from the company is a photo of someone with their middle finger extended surrounded by sparklers.
The variety of teas being sold currently include Calm the F**k Down, Get Your Sh*t Together, Fierce B*tch, Namaste Motherf**er, Get Your A** in Bed and Wake the F**k Up.
The company's web site makes a "as seen on Shark Tank" reference, but no mention is made of a Shark Tank deal or of Bethanny Frankel or Kevin O'Leary.
It is unclear whether the deal has closed or is still in the due diligence process. The majority of Shark Tank deals seen on the show either do not close or are altered in the post-filming due diligence process. Deals with multiple sharks typically take longer to finalize. Stay posted.