"Price is nuts" - When Shark Tank’s Kevin O'Leary rejected Peanut Butter Pump

Andy Scherer presented Peanut Butter Pump on Shark Tank season 11 episode 7, seeking $200,000 for 15% equity at a $1.33 million valuation. The mechanical pump system, designed for 40-ounce peanut butter jars, promised clean dispensing through a specialized mechanism.

Kevin O'Leary assessed the business proposition after examining the prototype and learning about $165,000 in crowdfunding pre-orders.

"The real basic problem is two hundred thousand dollars for fifteen percent is crazy. There's no bigger advocate for the commodity than I am, but this price is nuts. Like two hundred thousand, fifteen percent? The whole business isn't worth two hundred thousand right now. I wish you the best of luck, but I'm out," O'Leary stated, leading other Sharks to similar conclusions.

The $27 retail-priced device, featuring dual dispensing options and a jar-cleaning system, failed to secure any offers despite its pre-show funding success.

---

Peanut Butter Pump creator leaves Shark Tank season 11 without investment

Scherer walked into the Shark Tank carrying his signature invention, born from his 2016 career transition after departing the financial services industry. His demonstration began with sandwich preparation, showing the pump's consistent output and mess reduction capabilities. The presentation moved to celery stick applications, highlighting versatility across different food items.

He explained the mechanical aspects, pointing out the food-grade materials and specialized components that allowed for exact portions with each pump action. The inventor stressed the practical benefits through live demonstrations, operating the device to show how it maintained cleanliness during food preparation.

The development timeline started with an April 2019 IndieGoGo launch that secured $133,000 from initial backers. The prototype tested compatibility with containers from multiple manufacturers, including standard sizes from major grocery chains and wholesale clubs.

The engineering focused on durability with food-safe plastic and silicon components designed for repeated use. The manufacturing specifications outlined plans for mass production with quality control measures for each component. The internal mechanism incorporated a specialized scraping system that moved along the jar's interior during operation.

This design addressed consumer complaints about wasted product in traditional jars. The production plan included detailed material requirements, assembly procedures, and quality testing protocols for commercial manufacturing.

Shark Tank investor Kevin O'Leary focused on the product's physical dimensions during his assessment. As a peanut butter maker himself, he questioned the practicality of storage due to the pump's height. Robert Herjavec and Lori Greiner analyzed the $27 retail price point, determining it exceeded market expectations for such a product.

Daymond John raised questions about manufacturing timelines and delivery schedules. During this discussion, Scherer revealed missed deadlines for crowdfunding backers. Mark Cuban pressed for details about production costs and scaling capabilities.

The conversation turned to Scherer's use of crowdfunding money for personal expenses before product completion. The final moments saw each Shark Tank investor step away from the deal, citing different aspects of the business model and product execution.

---

Post-Tank development

The company missed its initial March 2020 shipping target for pre-order customers, per Shark Tank Blog. Manufacturing updates through 2021 revealed technical challenges with the product's core mechanisms.

Factory testing identified durability issues as the piston components cracked after 3,000 pumps of regular use. Engineering modifications improved performance to withstand 20,000 pumps during stress tests.

By 2022, production samples arrived with two significant defects. The factory provided incorrect piston specifications and the collar threads showed manufacturing flaws. The company's June 2023 progress report detailed ongoing piston durability testing at manufacturing facilities. The revised December 2023 shipping date passed without product delivery.

The May 2024 status update to backers explained a pause in factory tooling operations pending additional funding. The company continues seeking investment through local venture capital meetings and investor clubs. Pre-order customers who supported the initial campaign still await their products as development continues.

---

New episodes of Shark Tank are airing on ABC network.