Where Is Echo Valley Meats From Shark Tank Today?
If you swim into the Shark Tank, you better come prepared. Dave Alwan felt that he was, having a family background in raising cattle and running a butchery business. As a matter of fact, Alwan began cutting meat at the young age of 11 (perched upon a milk crate to reach the table). And at the age of 23, he bought a farm to raise cattle on and started his own meat company: Echo Valley Meats. Alwan even traveled to Denmark and Germany to master his culinary craft. So, you can understand why he approached the Sharks with confidence.
Alwan appeared on Season 4, Episode 21 of "Shark Tank," offering 20% equity in exchange for a $300,000 investment. The Sharks loved the food and Alwan's attitude, but they didn't care for the venture's low profits. Plus, Alwan sought funds for marketing, but he didn't actually know how much it would cost to acquire new customers. "You're coming in unprepared," Mark Cuban admonished him. "That doesn't cut it." And for that reason, all of the Sharks went out. Yet, not all hope was lost.
Alwan returned to 'Shark Tank'
Though he walked away without a deal, Alwan said in "Shark Tank" follow-up, which aired in Season 5, that the "experience was invaluable to the success" of his business. Indeed, he went on to turn his company around, with sales booming in the wake of his televised pitch. The company website received over a million visitors, the venture shipped out thousands of orders, and retailers like Amazon, Costco, Sam's Club, and QVC started carrying Echo Valley Meats. Sales were the highest they'd ever been, and Alwan credited this to his "Shark Tank" journey.
In fact, things had improved so dramatically that the "Shark Tank" producers asked Alwan to come back and pitch for a second time during Season 6 of the show. This time, he came prepared with a detailed business plan, and he knew precisely how much it would cost to acquire new customers. Alwan asked for just $150,000 for the same 20% stake in his company (or at least, the mail-order part of it). Daymond John and Lori Greiner simply weren't interested in a meaty business, but Kevin O'Leary and Robert Herjavec were both willing to make offers. Ultimately, Cuban sealed the deal, investing $150,000 for 25%. Was this a good investment?
Echo Valley Meats is a resounding success
By all indications, it seems that Alwan's business is still going strong, and Cuban is pleased with his decision. Interviewing with Heavy right after his second televised pitch, Alwan revealed that Echo Valley Meats' digital and mail-order sales spiked once again after his reappearance on the show. "Our customer demographics have expanded," he explained, "and we are delivering from New York to California" with tons of repeat customers. Plus, Cuban gave the company more than just an investment; he began communicating with the business on a weekly basis to offer his advice. As for the future, Alwan was planning to expand the product line and team up with Wicked Good Cupcakes, another "Shark Tank" company, which O'Leary had invested in.
Then, a handful of years later, the pandemic hit, but even so, Echo Valley Meats managed to survive. As recounted by Alwan in a 2021 interview with PPAI, the venture was lucky to have a product customers still wanted and a shipping process that could thrive despite (or perhaps even because of) socially distanced quarantines. The business also added new products such as cheeses and coolers to its offerings, as well as bolstered its refrigerating capabilities.
Perhaps best of all, the business is still counted among Cuban's companies. Echo Valley Meats appears to be a cut above the rest. Thus, both the cattleman and Shark have reaped their rewards.