Did Wally Amos get a deal on Shark Tank? Journey of The Cookie Kahuna explored after appearing on reality show

Wally Amos, the brain behind the chocolate chip cookie brand Famous Amos, died at 88 on August 13, 2024, in his home in Honolulu. The entrepreneur's death was due to complications from dementia, his children revealed via a statement to media outlets.

"Our dad inspired a generation of entrepreneurs. With his Panama hat, kazoo, and boundless optimism, Famous Amos was a great American success story, and a source of Black pride. It's also part of our family story for which we will forever be grateful and proud," the statement read.

Wally Amos dabbled in the cookie business many times, starting his first venture in 1975 in the form of his Famous Amos cookie shop on Sunset Boulevard. However, he had to sell his ownership and equity after the business incurred heavy losses.

Following this, Amos started The Cookie Kahuna, another chocolate chip cookie venture. He took his idea on Shark Tank in 2016 but was unable to land a deal with the investors.

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Wally Amos shut down The Cookie Kahuna in 2017

Wally Amos's love for chocolate chip cookies led him to start his second business called The Cookie Kahuna after the mismanagement of his first venture, Famous Amos. He launched Cookie Kanuka a year before he appeared on Shark Tank and the product was already available in select Costco stores in Hawaii.

An 80-year-old Wally Amos took his product to Shark Tank in the show's eighth season in 2016, looking for a $50,000 investment in exchange for 20% equity. The investors, Lori Greiner, Robert Herjavec, Barbara Corcoran, Kevin O'Leary, and Mark Cuban, asked the entrepreneur what happened with Famous Amos.

Wally Amos revealed he did not have a business head, instead, he just wanted to make his cookies and have "a good time." Unfortunately, the investors turned him down and refused to offer him a deal, stating that his profit was less than 20%.

Amos revealed that his appearance in Shark Tank boosted The Cookie Kahuna's sales. In an interview with Business2Community, he said:

“I needed exposure more than money to create awareness, which would create more sales."

The Cookie Kahuna thrived for a while, with Amos releasing flavors like chocolate chip macadamia and chocolate chip pecan in select Costco and ABC outlets in Hawaii. He also offered seasonal sales and other festive perks. But The Cookie Kahuna came to an end soon, after a reported "not-so-good business arrangement."

In March 2017, Wally Amos announced via a YouTube video that he was shutting down The Cookie Kahuna as the venture had left him "flat broke." The company's Instagram page has been inactive since 2018.

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Wally Amos used his aunt's cookie recipe

Wally Amos's cookie recipe came from his aunt, whom he lived with since age 12 following his parents' separation. He joined the Food Trades Vocational High School to pursue his culinary passion, however, he dropped out to join the Air Force.

After a four-year service, he joined talent agency William Morris and climbed the ranks to become a junior agent. He started his own agency in LA and used baking as a stress reliever.

“I began to bake as a hobby; it was a kind of therapy. I’d go to meetings with record companies or movie people and bring along some cookies, and pretty soon everybody was asking for them,” he said in a 1975 interview with the Times.

In 1975, he set up his first Famous Amos shop on Sunset Boulevard, which quickly expanded into a $12 million business by 1981. However, he struggled to manage the financial aspects of his business and sold his ownership and equity in 1988.