“Happiest day of my life” - When Shark Tank investor Barbara shared a past memory during Mavens Creamery pitch

During the Mavens Creamery pitch on Shark Tank season 10, sisters Gwen and Christine Nguyen presented their macaron ice cream sandwich business seeking $400,000 for 10% equity. As discussions moved toward investment possibilities, Barbara Corcoran emerged as an interested investor.

While considering their $4 million valuation, Barbara shared a personal memory from her early career success. She stated:

"The happiest day of my life was when I turned 35. I had my first real profit in my real estate firm and I ordered my mother and father a brand new Cadillac convertible and had my Uncle Richie drive it down to Florida with bows on and pull it into their driveway. I don't think anything could have equaled the joy that that brought back to my family."

This revelation came moments before Barbara offered the Nguyen sisters a deal of $400,000 for 25% equity in their company. The entrepreneurs accepted Barbara’s deal.

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Shark Tank investor Barbara Corcoran reveals emotional Cadillac memory during Mavens Creamery pitch

Barbara's memory surfaced while evaluating the sisters' Shark Tank business presentation. The accomplished investor detailed her breakthrough moment at age 35 when her real estate firm recorded its first major financial win. The achievement pushed her to plan a meaningful celebration.

She decided to purchase a brand-new Cadillac convertible for her parents. The presentation involved careful coordination with her Uncle Richie. He agreed to transport the car to Florida and set up a surprise in her parents' driveway. Barbara mentioned this memory brought significant happiness to her entire family. The story resonated with the authentic family business spirit shown by the Nguyen sisters.

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Mavens Creamery pitch

Gwen and Christine Nguyen built their business from modest beginnings in their parents' garage in 2014. Their initial market test proved highly successful. They sold out their entire stock of 400 macaron ice cream sandwiches at a local dessert shop in a single day. This immediate positive response motivated their next steps.

The Shark Tank company upgraded to a commercial kitchen facility in 2015. Their distribution network expanded steadily to include over 300 retail locations across California and Nevada. The company maintained a premium positioning with individual sandwiches priced at $6.25. Their direct-to-consumer channel through their website offered 16-count packages for $100.

The business demonstrated strong market acceptance through consistent sales growth and retail expansion. Barbara emerged as the main interested investor after the other Sharks expressed reservations about the financial metrics. Shark Tank investor Mark Cuban voiced concerns about profit margins. Kevin O'Leary questioned the product's shelf life. The Nguyen sisters addressed these concerns by confirming their products maintain quality for six months.

Lori Greiner and Daymond John also stepped back due to similar financial considerations. Barbara saw potential in the business and presented her first offer. She proposed $400,000 for 33.3% equity structured as $200,000 in cash plus a $200,000 credit line. After brief discussions, the sisters countered with a request to reduce the equity to 25%. Barbara accepted this adjustment.

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Company story after Shark Tank

Mavens Creamery's trajectory following their television appearance showed significant expansion despite the deal with Barbara not reaching final terms. As per Shark Tank Blog, the company pushed forward with ambitious growth plans. Their retail presence spread beyond California and Nevada. New partnerships emerged with major retailers.

Whole Foods brought the products to their stores in multiple regions. The company secured shelf space in Colorado markets. Kroger's Markets added the ice cream sandwiches to their offerings throughout the Midwest.

The business continued evolving through product development. They broadened their lineup beyond ice cream sandwiches to include additional ice cream products. Sales figures validated their growth strategy as annual revenue reached $3 million. Distribution discussions progressed with Costco starting before the pandemic.

While this potential partnership faced delays, talks continued into 2023. The company maintained relationships with established partners like Safeway in California and Nevada. Additional retail partnerships formed with Albertson's in California and several other market chains including King Soopers, Vons, and Pavilions.

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Shark Tank season 16 is airing on ABC network.