Is applesauce really meant to be enjoyed only by children and the elderly or have the rest of us been missing out on something delicious? Keisha Smith-Jeremie, CEO and founder of Sanaia Applesauce, believes applesauce should be enjoyed by everyone and she wants to share her unique gourmet applesauce products with the world!
Keisha appeared in the Shark Tank on Sunday, October 14, 2018 seeking an investment of $150K from the Sharks in exchange for 15% of her company, Sanaia Applesauce. Keisha was raised in the Bahamas and attended the University of Virginia. Her goal is to disrupt the applesauce market with a variety of gourmet-flavored applesauce.
Lori Greneir went out first, followed by Robert Herjavec. Robert commented that Keisha was confusing interest with orders and he was skeptical about her business plan and sales projections. The Sharks seemed concerned that Keisha was not committed to the business on a full-time basis. All of the sharks liked the taste of the product, but were not convinced that the price point of the product was viable and they were skeptical about the size of the market. Keisha pointed out that yogurt sales had skyrocketed after yogurt gained popularity due to market disruption and she believes that the same thing can happen with applesauce.
Barbara Corcoran said she was willing to make an offer, but stated that the offer might be insulting. She revealed that she would have to ask for at least 75% of the business in exchange for the $150K investment requested by Keisha. Keisha would not accept this offer and it looked like she would not get a deal, but then Mark Cuban stepped up with an offer of $150K for 25% of the business. Keisha readily accepted and the deal was made.
Keisha stated that her applesauce would be sold on Amazon Prime within two weeks of the time of the filming of the show, which would have been months before the episode was aired. As of today, it is not listed on Amazon, but is available for sale on Sanaia's web site.
Sanaia is made from all natural ingredients and it does not contain any dairy products, fat, cholesterol or sodium. It can be enjoyed right out of the single-serve jar and can be topped with fruits, granola or muesl. It can also be warmed and used as a topping for ice cream, pie or oatmeal or used as a glaze for pork chops.
SHARK TANK PRODUCT UPDATE - WHAT HAPPENED AFTER THE SHOW
Many deals made in the tank don't finalize. As of the air date of the Shark Tank episode featuring Sanaia Applesauce, it is not clear whether the deal with Mark Cuban made it through due diligence. Mark is one of the sharks most likely to finalize deals made in the tank. He has a large and talented team who stay in contact with the entrepreneurs to keep things moving.
Sanaia is fairly active on social media with frequent postings. That is a good sign since often one of the first things to go when a company loses steam is social media engagement.
Check back for further updates.