Where Is Go Oats From Shark Tank Today?
Oatmeal is one of the most nutritious ways to start your day. It can be enjoyed as a sweet or savory breakfast, and there are a variety of oat options to choose from. But making oatmeal doesn't come without challenges, and there are plenty of mistakes that can ruin your oatmeal.
One entrepreneur was aware of these challenges — and he used them to start his company. Nahum Jeannot, the founder of Go Oats, appeared on Season 12 of "Shark Tank" in 2020 to try and obtain funding to expand the business.
Jeannot explained on the show that he had the idea for the business in 2015. He was working as the head chef at a Hyatt Regency that requested a quick breakfast option guests could take on the go. He created handheld oatmeal balls. Jeannot knew he had something special on his hands, and he launched Go Oats in 2017.
What did the Sharks think of Go Oats?
Go Oats founder Nahum Jeannot made his "Shark Tank" appearance hoping to obtain $150,000 in funding in exchange for a 10% stake in the company. The Sharks were impressed with their samples, especially the microwave- and oven-friendly packaging. But they were less impressed with Jeannot's business acumen.
Jeannot said that it cost him $1.35 to make each package of Go Oats, he sold them to stores for $2.66, and they marked them up to $4.99. Mark Cuban said that amount was "not enough," and Kevin O'Leary said Jeannot didn't have enough marginal income to scale his business.
Barbara Corcoran didn't seem to mind, though, and she offered to make the deal with Jeannot. She offered him the $150,000 he had requested but wanted a 25% stake in the company. Jeannot made a counter offer, and the two settled on a 20% stake.
Where is Go Oats today?
Business has been booming for Go Oats since its "Shark Tank" appearance. During the Season 12 episode, founder Nahum Jeannot said that sales in 2016 and 2017 had leveled off around $57,000 per year. But after Go Oats appeared on the show, it sold out on Amazon, per Shark Tank Recap.
When Jeannot arrived on "Shark Tank," he said his product was available in Whole Foods stores. Go Oats products are still available at Whole Foods and can now also be found at Albertson's, Dawson's Market, Gelson's, Sprouts Farmers Market, and Heinen's, among other retailers. The company has added a strawberry flavor, in addition to the maple brown sugar, blueberry, and apple cinnamon options seen on the show.
In November 2020, The Business Journals reported that Go Oats projected its 2021 revenue at $2 million, a massive increase from its annual revenue before "Shark Tank."