Pezibear / Pixabay
Husband and wife duo, Joe and Megan Johnson, entered the Shark Tank in search of $250,000 for 10% equity in their company, Vade Nutrition. Their flagship product is a dissolvable protein pack that allows consumers to easily make protein shakes on the go with the hassle and waste of carrying powder. The coating for the pouch is made up of 100% food grade ingredients and easily dissolves into the shake. Vade Nutrition currently has a utility patent on a consumable product wrapped in consumable packaging. This technology alone is very appealing to the Sharks and they comment about how applicable this technology could be into many different products. Containing zero sugar, their protein powder provides 20 grams of protein per serving, is made up of 100% whey isolate protein, contains only 90 calories and is available in vanilla or chocolate flavor.
Taking a powder with @VADENUTRITION! #SharkTank pic.twitter.com/oqRww1wlsM
— Shark Tank (@ABCSharkTank) November 26, 2018
Currently, Vade Nutrition is selling their product primarily through their website and through Amazon. As with other company’s in this sector, they find their biggest hurdles to be new customer acquisition and marketing their product. They are using social media to drive approximately 25% of their website traffic. Vade Nutrition has made $80,000 which initially concerned the Sharks until they learned that there was a problem in the manufacturing process with their flavorings and their protein powder and their supplier wouldn’t give them a refund.
The Sharks are divided on how they feel about the taste of the product, however, they are all in agreement that the delivery system of a consumable product contained inside of another consumable product is where Vade Nutrition can really grow. The coating is made up of similar food grade materials to vitamin capsules and because of it’s safe and dissolvable nature, Mark Cuban shares that he believes that expansion of their delivery method into other products will be the most successful part of their business.
Mark immediately makes them an offer of $350,000 for 20% of the company. Lori Greiner begins to explain that she feels that she could help them make some changes to the packaging to make people understand the product better. While she is deciding on an offer, Alex Rodriguez jumps in to tell Joe and Megan that this product is right in his wheelhouse. He speaks to his partnership with Mark Cuban and their success with a similar business, Ice Shaker. He and Mark decide to go in together on an offer of $700,000 for 40% ownership in the company. Vade Nutrition accepts their offer before Kevin O’Leary, Barbara Corcoran or Lori Greiner could formulate offers.
20 grams of protein, 90 calories…now @VADENUTRITION is speaking my language. @ABCSharkTank #SharkTank
— Alex Rodriguez (@AROD) November 26, 2018
The presentation by @VADENUTRITION on @ABCSharkTank, is awesome! I’m speechless. #SharkTank
— Raymond Craft, Jr. (@EducatedCraft1) November 26, 2018
The pitch was spot-on! But, I think the market is saturated. #SharkTank
— angela alston (@jenean123) November 26, 2018
VADE Nutrition is a great platform. Protein powder is entry point, but dissolvable packing has so many more use cases. Great deal for @mcuban & @AROD #SharkTank
— Kasey Skala (@kmskala) November 26, 2018
The @VADENUTRITION deal wasn’t about protein powder at all, if so, it would be a hard pass from me. It was all about the delivery system and how it can be parlayed in to other uses. Brilliant! #SharkTank
— Novafan23 (@Novafan23) November 26, 2018
This @ABCSharkTank @VADENUTRITION pitch is the realest thing ever. Powder everywhere. Why not put the scooper in like the yogurt companies do spoons. #nextidea #Tomstrademark
— Tom Koehler (@TKREFRESH22) November 26, 2018
They had me at dissolvable and convenient! I am always on the go and I have had workout powder spill in my bag which is such a mess! @ABCSharkTank #SharkTank
— Alex Rodriguez (@AROD) November 26, 2018
What do you think about Vade Nutrition’s product, delivery method and Alex and Mark’s offer? Would you purchase this product? Sound off in the comments below!
For a full summary of this episode, check out this article. Shark Tank airs on Sundays at 9:00 PM EST on ABC.