Where Is The Kombucha Shop From Shark Tank Today?
Kombucha is both an ancient drink and (in the United States, at least) a new fad. As explained by Nebraska Medicine University, this fizzy, slightly alcoholic beverage may date back as far as 220 B.C. Only recently, however, have modern grocers like Aldi added kombucha to their shelves.
Exactly what sort of drink is kombucha, though? Per Encyclopedia Britannica, it's brewed with tea leaves, then fermented via a symbiotic culture of bacteria and yeast (SCOBY). Its sour, vinegary flavor is certainly an acquired taste, but many people have come to enjoy it, especially for the probiotic beverage's supposed medicinal benefits. Indeed, there are over a dozen reasons to add fermented dishes to your diet, and kombucha is a prime example of this.
Plus, kombucha is so easy to make that, with the right equipment, anyone can brew it at home! Just keep in mind that homebrewing is an inherently risky venture, in terms of food poisoning, and that drinking too much of a good thing (even kombucha) can potentially be a bad thing, especially for those with dietary issues. Truly, it's best to consult a doctor. If you're in the kombucha business, though, perhaps you'd also like the advice of a Shark?
Did the Sharks acquire a taste for kombucha?
One entrepreneur saw it fit to go on "Shark Tank" and pitch her kombucha venture to the show's big investors. In her pitch, Kate Field explained that she realized her love for kombucha back in 2013. At the time, she was working as a food educator, and her passion soon transformed into the full-fledged Kombucha Shop. The goal of the company is to promote kombucha by supplying customers with the know-how and equipment needed to brew organic kombucha in their own homes.
Field appeared on Season 10, Episode 5 of "Shark Tank," offering 10% equity for a $350,000 investment. At first, the Sharks were disgusted by the look of SCOBY and the taste of the kombucha. In fact, at first, it looked like Field would likely have a difficult time convincing the Sharks that such a messy-looking venture was worth investing in. Of course, like any "Shark Tank" pitch, the real nuts and bolts of the decision-making process came down to sales.
Luckily, the Sharks were markedly impressed when Field shared that she had sold $3.2 million worth of her kits online. What Field needed, though, was a partner to help get the kit into retail and scale it to a substantially larger consumer base. Instead, she got two partners: Barbara Corcoran and Guest Shark Sara Blakely. Crying tears of joy, Field revealed afterward, "I have admired Sara and Barbara for so long!" It was a match homemade in heaven, or so it would seem.
Field sold the Kombucha Shop in 2021
Verbal agreements on "Shark Tank" aren't legally binding. Details are scarce, but a PR Newswire announcement from 2021 mentioned that Kate Field ended up forging ahead without the help of the Sharks. Regardless, her company grew steadily.
CNBC reported that the business experienced a boom in sales right after Field went on "Shark Tank." The show's impact on her business certainly wasn't lost on her. "With practice and focus, it's amazing what people can do when they set their minds to something," Field said. "I've kept that level of confidence and patience since the show, it's had a lasting effect on how I lead my business." Field walked away from "Shark Tank" with something even better than an investment, and it allowed her to get into retail, just as she had hoped. All told, the Kombucha Shop has sold hundreds of thousands of kits and now claims to be the biggest homebrew kombucha business in existence.
Despite all of this success, Field eventually decided to hand the business off to somebody else. In 2021, the Kombucha Shop was acquired by Habib Bakshi, an expert in revenue growth and digital marketing. This was a multi-million dollar purchase, and sales have since tripled, underlining just how important health and at-home activities have become to pandemic-era consumers.