Toast It After Shark Tank Update: During Season 15 of Shark Tank, sisters Maria Fernanda Römer Cabezas (aka “Mafe”) and Maria Corina Vieteis, or “Coco,” pitched their Latin American cuisine company.
Arepas, a staple food in Latin America, can now be prepared quickly and easily with the help of Toast-It. Will one of the sharks put money into it? Toast-It will tell you.
What Is Toast It?
TOAST IT is a popular brand of Venezuelan arepas and other Latino meals that are pre-cooked and ready to eat.
Products from this company include the aforementioned chia flaxseed arepas, original arepas, pandebono bites, plantain bunuelos, and fried taro chips.
The high-quality components used in the production of an Arepa ensure that it is devoid of gluten, dairy, sugar, and so on.
Cassava(Yuca) Arepas come in 6-packs for $55.99, while Original Arepas come in 6-packs for $49.99.
Who Is The Founder Of Toast It?
Mafe and Coco Cabezas, sisters from Venezuela, started Toast-It, a frozen food company, with the goal of introducing quick and healthful Latin American cuisine to the US market.
Experiencing a longing for their home country after relocating to the United States, the Cabezas saw the absence of Venezuelan essential food items in the market.
Consequently, they introduced their own creation, arepas, which are cornmeal desserts that can be filled with a variety of ingredients.
Know About the Toast It Shark Tank Update
A lot of consumers began purchasing Toast IT frozen food from large retailers like Whole Foods and Walmart after the company secured a deal on Shark Tank.
This company made hundreds of dollars in sales after this Shark Tank episode aired just a few days later.
Toast It Shark Tank Update
|Company Name||Toast It|
|Founder||Mafe Cabezas and Coco Viete|
|Product||Guilt-free & convenient Latin American food staples|
|Asked For||$100k for 5% equity|
|Final Deal||$150k for 20% equity|
|Toast It Shark Tank Episode||S15 E2|
|Air Date||Oct 6, 2023|
|Business Status||In Business|
|Headquarters||Miami, Florida, USA|
|Toast It Net Worth||$0.4M Estimated|
|Toast It Instagram||View Profile|
Another Shark Tank Pitch:
Toast It on Shark Tank Pitch
Mafe and Coco Cabezas’ “Shark Tank” pitch doesn’t need to do much work for a product that tastes as wonderful as TOAST-IT.
When the investors try the sample arepas, they will see that this is no normal convenience food.
A quick check of the app that monitors Kevin O’Leary’s glucose levels indicates that the South American delight doesn’t produce a surge, making TOAST-IT a potentially game-changing option for diabetics and dieters struggling to give up bread.
When the panel gets down to the nitty-gritty of the data, things get sticky. The Sharks have a hard time justifying a $100,000 investment from the Cabezas in exchange for just 5% (assuming a $2 million valuation) with predicted sales of $500,000 for 2023 with lethal margins of only 20-30%.
Kevin, though, is convinced enough to take a chance on the sisters and offer to invest in exchange for 20% of the company’s shares.
The entrepreneurs are unhappy with the valuation reduction, which Mr. Wonderful defends on the grounds that TOAST-IT is a “baked-goods-non-proprietary-terrible-margins business.”
Guest-Shark Daniel Lubetzky agrees to match Kevin’s offer as the rest of the panel formally expresses their disinterest in investing.
In the end, Daniel lowers his offer from $200,000 for 30% to $150,000 for 20% but warns that this is his last counteroffer.
After Kevin shows little interest in negotiating, the Cabezas accept Daniel’s offer and leave the Tank victorious.
Toast It After Shark Tank
Considering the recent airing of the program, the girls have already seen a significant increase in website traffic and emails from interested clients.
With just around 3.5 million people expected to watch the episode live, they may expect at least $100,000 in sales in the next week due to the attention. Within the next four months, we expect to conclude a deal with Daniel.
If you’re interested in trying out their arepas, viewers may place orders at ToastItFoods.com. Retailers, including Wal-Mart, Whole Foods, Milam’s, and Central Market, also carry them.
The genuine arepas were introduced to 500 Publix supermarkets in 2021. For $55.99, the female participants are offering a Shark Tank special package deal.
The company’s long-term prosperity will depend on its ability to reduce the cost of goods sold.
At the moment, you may get it in Original, Cassava, or Chia Flaxseed tastes.
The Chia Flaxseed flavor is rated five stars on their website, with the other two averaging 4.5 stars each. In addition to its original product, arepas, the company has recently begun selling Pandebono Bites.
Toast It Net Worth
Toast It is valued at $0.3 million in total. The greater the size of the food market, the more intense the rivalry becomes.
Is Toast It Still In Business?
Yes, Toast It is still in business. This brand’s food reflects the culture of Latin America.
According to research, the current estimated population of Latinos in the United States in 2021 is 62.5 million.
The food brand is headquartered in Miami, Florida, United States, and has a staff of 2-10 individuals, as shown by its LinkedIn page.
Mafe Cabezas and Coco Viete started the company Toast IT.
Toast It net worth is $0.3 million.
Yes, Toast It is still in business.
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