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Silicon freezer storage company Souper Cubes secured a $400,000 investment in Shark Tank season 12, episode 14, aired in February 2021. Jake and Michelle Sendowski presented their portion-control freezer trays to the panel, seeking $400,000 for 5% equity. After Kevin O'Leary and Barbara Corcoran made competing offers, Lori Greiner awarded her golden ticket to the brand.
"I am going to offer you my golden ticket. I only do it once a season. It is really gold. You guys know what it is because I've now done it for at least 3 years. What it means is that you're the hero item that I've seen this season thus far. It's actually really gold and I will give you the 400,000 for 5%. That's what the winner of the golden ticket gets," Greiner stated.
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Entrepreneurs accepted the golden ticket offer at the end.
Souper Cubes struck $400k deal with golden ticket offer on Shark Tank season 12
The Sendowskis arrived at the Shark Tank with a focused goal of $400,000 for 5% equity. Their silicon freezer trays featured measured compartments for organized food storage. Each product came with measurement markers for precise portions, ranging from two tablespoons to two cups.
The founders shared their strong financial performance, reporting $1.6 million in sales for 2020. Amazon sales made up 80% of their revenue stream.
The manufacturing costs stood at $3.80 per unit, with a retail price of $19.95. The couple explained their business origins, which started when Michelle sought better storage for homemade chicken broth. They managed company growth while keeping their full-time jobs, with Michelle simultaneously working toward her Ph.D.
Their manufacturing partnership began through a connection in China, which helped create the initial products. The Shark Tank company founders maintained control over design and quality standards throughout production. Each tray included a matching lid that fit multiple container sizes, adding practical value for users.
Multiple Shark offers
The presentation got a competitive response from the Sharks. Kevin O'Leary started negotiations with two separate proposals. His first package offered $400,000 for 3% equity plus a permanent $0.40 royalty on every unit sold. The second option proposed $400,000 for 15% equity without additional fees.
Barbara Corcoran joined the bidding with $400,000 for 10% equity. Mark Cuban and Kendra Scott remained silent, choosing not to make counteroffers.
The Shark Tank investors showed interest in the company's direct-to-consumer strategy and strong Amazon presence. Their questions focused on expansion possibilities and manufacturing capabilities. The founders provided clear answers about their supply chain management and quality control measures.
Lori's Golden Ticket moment
When it came to Lori Greiner, she stated every aspect of the business passed her evaluation standards. Her exact words were:
“There's not one thing I was sitting here trying to think what I could find fault with, like ‘Is there anything that I could find fault with?’ and everything was a check, check, check, check, check.”
Other Sharks watched as she reached for her golden ticket, an award she reserves for one outstanding company per season. Greiner matched the Sendowskis' original request, offering $400,000 for 5% equity. The founders accepted the deal without further negotiation.
Post-show story
As per Shark Tank Blog, the company's sales reached $938,000 within 24 hours of the episode airing. The momentum continued as the company expanded its market presence. By 2022, total sales climbed to $8.6 million. The partnership with Lori Greiner opened doors to major retail chains.
The company achieved substantial distribution growth. Bed Bath & Beyond added Souper Cubes to their kitchenware department. Crate and Barrel followed, placing the products in stores nationwide. In February 2024, Costco began stocking a special bundle containing one half-cup, two one-cup, and two two-cup containers priced at $59.99.
Product development expanded beyond the original designs. The company launched "My Milk Trays" specifically for breast milk storage. This addition responded to customer requests for specialized storage solutions. The manufacturing capabilities scaled up to meet increasing demand.
The Sendowskis reached a significant milestone by selling their millionth Souper Cubes tray. Their annual revenue stabilized between $3-4 million as of July 2024, as per Shark Tank Blog. The company maintained strong Amazon sales while building a presence in traditional retail channels. Distribution expanded internationally to Canada, Mexico, Europe, Australia, and the Middle East.
Fans can watch new episodes of Shark Tank on the ABC network.
