Nui Cookies Net Worth: Has the Company Been Successful in Convincing the Shark Tanks?
The ketogenic diet is widely known among health-conscious people. The diet has been hailed as a miracle in the last few years by those who want to lose weight quickly because it promises rapid weight loss without sacrificing many common foods. This article will let you know the net worth of the article.
Nui Cookies Net Worth
When Nui Cookies appeared on Shark Tank, its valuation was $1.2 million. As of 2022, though, Nui Cookies no longer operates. As the ketogenic diet has grown in popularity, additional options for foods compliant with the program’s rules have emerged. Nui cookies is a keto-friendly cookie that exploded in popularity in 2019.
What is Nui?
You may fulfill your sweet taste without really consuming sugar when you eat Nui cookies because they are low-carb, gluten-free, and diabetic-friendly because of their natural sweetness. There is no refined sugar in these cookies; the sweetness comes from natural sources. The company’s goods weren’t always known as “Nui Cookies.” Yet, it was also known as “The Keto Cookie.”
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Chocolate chips, double chocolate, peanut butter, cinnamon, and Snickerdoodle are some of the available NUI Cookie varieties. The entrepreneurial duo of Kristopher Quiaoit and Victor Macias established Nui Cookies. Keto Kookie was the company’s previous name until it was changed to Nui Foods.
Was Nui’s presentation on Shark Tank successful?
On an episode of “Shark Tank,” Nui Cookie co-founders Kristoffer Quiaoit and Victor Macias pitched their snack food business and asked for $300,000 in exchange for a 10% equity position. Those on a Keto diet can still indulge their sweet craving with these low-carb cookies containing just 1 gram of sugar. Nui Cookie’s utilization of social influencers has resulted in revenue growth of almost $1.1 million year-over-year.
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With the help of their strategic partners, they intend to increase their gross margins thanks to their new cooperation with a co-packer. Kevin O’Leary offered the firm’s founders, Kristoffer Quiaoit and Victor Macias, $300,000 plus a 2.5 percent interest in the company and $1 per unit royalties. When Kevin O’Leary recouped his first investment, royalty payments decreased to $0.45 per unit. Lori Greiner and Mark Cuban opted out of the study.
In exchange for 15% of the company and $0.50 per unit in royalties, Barbara Corcoran has offered to invest $200,000 and provide a line of credit. Barbara and Kevin want to be compensated through royalties on future sales until their initial investments are recouped; Alex, however, is willing to pay them $300,000 in exchange for 25% of the company. A deal for Nui Cookies was struck with Shark Tank investor Alex Rodriguez before Kristopher and Victor departed the stage.
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After appearing on Shark Tank, did Nui get any beneficial deal?
Neither the current standing of Nui nor what happened after the brand won “Shark Tank” can be determined with certainty. The terms of Alex Rodriguez’s contract with Nui Cookie were never ironed out. Yet, once the episode aired, Nui underwent a change in her outlook on life. After some time, the cookies became available on both Amazon and Walmart’s websites.
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The same blog post on the Shark Tank website claims $1.7 million in sales for 2019. More “soft and chewy” cookies have been added to Nui’s already extensive cookie selection. Still, by the time the year 2020 rolled around, the name didn’t seem to be anywhere to be found. While the company’s social media accounts have been regularly updated, the official website has been down for some time.
In reviews made on the Nui Facebook page, some customers have complained that they placed orders at the beginning of January 2020 but never received their products and that their complaints were ignored when sent via email. There haven’t been any new ratings or reviews since January 2020, and cookies are currently unavailable on Amazon.
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The use of Nui seems to have been discontinued. In 2020, Nui Cookies deleted its website and abandoned its social media accounts. As of 2022, there has been no change in this aspect. Although both guys have left the business, Nui is still listed on LinkedIn as though it were active.
Nui is a famous cookie brand that caters specifically to those on the ketogenic diet. These cookies are generally marketed at those on a low-carb or ketogenic diet since they are thought to be a healthier alternative to conventional cookies. The most recent investment round for Nui occurred in 2019, bringing in a total of $3.5 million, as reported by Crunchbase.