Shark Tank update: What happened to Sweetkiwi after the show?

Sweetkiwi, a frozen yogurt company founded by Ehime Eigbe and her husband, Michael Akindele, has seen significant growth since its appearance on Shark Tank in season 14 episode 19. As of 2024, the company generates over $2 million in annual revenue and is sold in over 2,000 retail stores, including Walmart, Whole Foods, and Kroger.

Sweetkiwi got a $250,000 investment deal with Robert Herjavec for a 16% equity stake, and used the exposure to expand its retail footprint and bolster its brand presence, achieving considerable success in the competitive frozen dessert market.

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Sweetkiwi's journey: from Shark Tank pitch to continued success in 2024

Background of Sweetkiwi

Sweetkiwi was founded in 2011 by Nigerian-born Ehime Eigbe, who was inspired to create a healthy dessert alternative. Using Greek yogurt as the base, Sweetkiwi offers a range of frozen treats that claim to emphasize health benefits.

Each pint reportedly contains 22 grams of protein, probiotics, prebiotic fiber, and a blend of superfoods aimed at boosting immunity. The company’s products are also low in sugar and made with milk sourced from small, family-owned farms.

Before its Shark Tank appearance, Sweetkiwi had already made strides in the U.S. market in 2019. The brand was available in major retailers like Walmart and Whole Foods and had achieved over $2 million in lifetime sales.

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During and after Shark Tank appearance

During their Shark Tank pitch, Eigbe and Akindele sought $250,000 in exchange for 5% equity, valuing the company at $5 million. The duo aimed to use the funds for brand-building and marketing to move beyond breakeven cash flow and achieve profitability. They emphasized Sweetkiwi’s unique nutritional benefits.

“It’s made from real milk sourced from smallholder family owned farms, and each pint boasts 22 grams of protein, prebiotic fiber, gut healthy probiotics and a unique blend of immunity boosting superfoods, all of which are better together,” they stated.

The Sharks praised the product’s taste and nutritional profile but raised concerns about the valuation given the crowded frozen dessert market. Kevin O’Leary initially offered $250,000 for 20% equity but withdrew his offer when negotiations stalled, saying,

“This category is very crowded....Alright, alright, I’m out. Out. Gone,”

Robert Herjavec stepped in and agreed to invest $250,000 for 16% equity, valuing the company at $2.4 million and the couple.

“I don’t have a lot of investment in this space, but I love this space and I want to learn....There are no two better people that I’m going to put my money into than the two of you,” Herjavec said.

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Sweetkiwi experienced significant growth following its Shark Tank appearance. The company doubled its retail presence. In addition to Walmart and Whole Foods, Sweetkiwi products are now available in Kroger, Mom’s Organic Market, Ralph’s, and Giant stores.

By 2023, Sweetkiwi reported over $1.1 million in sales. This figure increased to over $2 million annually by mid-2024. With Herjavec’s support, Sweetkiwi invested in scaling production and refining its marketing strategy, making the brand more visible to consumers nationwide. Reflecting on the deal offered to them during the Shark Tank pitch, Eigbe said,

“I hope that Robert and I, and the team, can build a billion-dollar company.”

Sweetkiwi’s journey from a kitchen experiment to a multi-million-dollar brand highlights the power of perseverance and effective branding. As of 2024, the company has successfully scaled its operations, expanded its retail footprint, and reportedly maintained its commitment to offering nutritious, high-quality frozen yogurt.

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Tune in on Fridays at 8/7c on ABC for all the exciting pitches and entrepreneurial moments on Shark Tank. The latest episodes are available for streaming on Hulu.