Numilk, the plant-based milk company that appeared on Shark Tank, has changed the way people consume dairy products. Moreover, with its lightning-fresh plant-based milk maker, Numilk allows consumers to make fresh plant-based milk, including ingredients like oats, almonds, and cashews, in a few minutes, and a few clicks.
This innovative approach caught the attention of all the Sharks when it appeared on the show Shark Tank. Well, since its appearance on the show, Numilk expanded its reach and gained quick momentum, thus generating more revenue each year and offering a convenient way of consuming fresh plant-based milk at home.
With this, let us delve into this guide and analyze the journey after Numilk Shark Tank . Therefore, without any further due, let us get into this guide.
Product Information
| Brand | Numlik |
| Website | https://numilk.com/ |
| Founded Year | 2018 |
| Recommended Uses For Product | Fresh way to make plant-based milk at home |
| Model Name | Numilk Machine |
| Included Components | Bottle |
| Item Weight | 32 Ounces |
Numilk Shark Tank Appearance
Joe Savino and Ari Tolwin pitched their product on Shark Tank in 2021, seeking $1 million for a 5% stake. Listening to the offer, the sharks were both intrigued and concerned about the high costs associated with the Numilk machine. Despite founders pitching a more convenient option. Moreover, after tasting the product, Barbara Corcoran, Daymond John, and Lori Greiner opted out, while Kevin O’Leary saw the potential and offered a $1 million loan at 9.5% interest instead of 5% equity. Further, Mark Cuban countered with a $2 million offer, i.e., $1 million for 7% equity and a $1 million loan with 3% interest, plus 3% stock in the company, which was eventually accepted by the founders.
What Happened to Numilk After Shark Tank
Not too long after the Numilk Shark Tank broadcast, the team turned their attention, starting a new Kickstarter campaign to fund the manufacturing of their countertop product, the Numilk Home. They successfully raised over $222,000 in pledges from 888 backers, more than doubling their goal of $100,000. Shortly thereafter, they announced they would be removing their kiosk machines from grocery stores, expecting to pivot focus onto their lines of Numilk Home and Pro.
Given the history of financial troubles, the high costs that went into manufacturing and maintaining these retail machines no longer could be put aside. But even as they turned the page on larger chains, the team made plans to expand their dealings with smaller grocery stores and cafes, as Ari Tolwin hoped to find locations in his home state of Michigan. Despite these steps, some of the issues of the past caught up with Numilk once again and put a damper on many of these ambitions.
Numilk Net Worth
| Net Worth | $70 million |
| Annual Sales | $13 million |
| Profits | $2.6 million |
| Employees | 30+ |
| Lifetime Sales | $48 million |
According to the table, Numilk’s net worth is estimated to be a whopping $ 70 million, followed by annual sales of $13 million, which gets them a profit of $2.6 million. Besides, with the help of 30+ employees, it comes with a lifetime sales of $48 million.
Is Numilk Still in Business?
Fast-forward to 2024, and business is still booming for Numilk, now found in over 100 locations throughout the United States, from rural Montana and North Dakota on up to New York and Texas; the company’s website indicates the product is soon to be shipped to Puerto Rico and Canada.
Since the recyclable glass bottles eliminate the waste typically generated with the standard plastic milk carton, it’s not surprising the brand has grown quickly. The rich, creamy plant-based milk options are also now stocked in hip shops such as Arizona’s Wild Iris Coffeehouse, Virginia’s One Love Coffee House, New York City’s Birch Coffee, and Connecticut’s Allora Coffee & Bites, among other locations.
Analyzing Numilk Sales
When NuMilk appeared on Shark Tank, the company pitched the overall main product: this huge vending machine. The company since then discontinued and replaced it with a ‘NuMilk Pro that is significantly smaller. A far smaller version suitable for home use is also offered.
NuMilk’s sales declined precipitously due to COVID-19 soon after appearing on Shark Tank. Nonetheless, thanks to Mark Cuban, the business designed new, high-tech equipment during the shutdown. NuMilk has some $13 million in sales at the moment. Most of it comes from its products for housing. NuMilk machines are available in over 150 locations in the United States.
What’s Next After Numilk Shark Tank Appearance?
Perhaps the most significant news of all is that pre-made, 16-ounce lattes and protein shakes could be their future, at least according to a post on Numilk’s website, which will further expand the company’s portfolio.
Commercial customers, including coffee shops and other retailers, are currently able to order the device through the wholesale portal that exists online. And for those who want to enjoy the goodness of Numilk right inside their homes, there’s the $199 Numilk Home. The Numilk Home churns out 32-ounce bottled dairy-free milk from the company’s flavored pouches with mere button pressing. On their site, you can order one, or also purchase the Numilk Home Machine on Amazon.
Meanwhile, plant-based milk devotees can get a taste of Numilk in smoothies, lattes, shakes, and more at participating retail locations, including the relatively new pistachio-based milk featuring a blend of maple, vanilla bean, and Himalayan salt debuted in 2022.
Final Thoughts
After Shark Tank, Numilk has seen a significant rise in terms of revenue and sales. Despite the hurdles, Mark Cuban’s $2 million offer managed to transform real ingredients into ready-made milks and lattes – all at the press of a button.