Shark Tank season 16 episode 14 saw a pitch from BAM Buckwheat Milk which Paige Hensen owns. She came on the show seeking $250,000 for 10% of the company. However, things went south for the entrepreneur when the sharks tasted the product and were not fond of the taste.
Her main business goal was to care for Earth and rejuvenate the soul left astray because of bad agricultural habits. She claimed,
Paige aims to solve this problem by increasing demand for crops that are good for soil health and improve their condition naturally. She has found the solution in Buckwheat, which she clarifies is a seed, not wheat.
She says that the crop can "rejuvenate even the most ravaged soil" and thus, is also loved by farmers around the country. Its qualities include suppressing weeds, preventing erosion, and attracting beneficial pollinators.
Thus, to increase the demand for the same, Paoge has introduced a company called BAM Buckwheat Milk that serves "organic, gluten-free, dairy-free" options to users who care about the soil and the environment.
Later when the negotiations began on Shark Tank, Rashaun tried hard to make sense of it all. Mark was skeptical about how well this product would do in the market because of it being high cost and not as good in taste. When talking about the valuation, Rashaun, who is a Venture Capitalist, said,
While presenting Buckwheat Milk to the investors on Shark Tank, Paige had three SKUs which were the "Original, Hint of Vanilla, and Extra Creamy." She claimed that the taste is a bit earthy and it could be eaten in a smoothie a vegan chocolate pudding or an iced coffee.
However, when Shark Tank investor Mark Cuban tasted it, he had a strong reaction against the taste and said that it was not made for him. Even Lori, Daymond, and Kevin made comments about the taste but none of them liked it enough in the first taste test itself.
Soon enough, the numbers started rolling and Paige revealed that the gluten-free market in America is currently priced at $2.9 billion and 43% of US households purchase plant-based milk regularly. The company is relatively new as Paige has just entered the market and her lifetime sales are $50,000.
Reference: Found here
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