Sanaia Applesauce Net Worth 2022: Is Sanaia Applesauce Still In Business?
Sanaia Applesauce Net Worth: We’ve all heard of several sauces, like tomato sauce, chile sauce, barbecue sauce, and many others. Have you ever heard of applesauce, though? If you haven’t heard of one, we’ll tell you about one.
Sanaia Applesauce’s founder and creator, Keisha Smith, gave the world the delicacy of previously unheard-of applesauce. Adults can enjoy the delightful apple sauce called Sanaia. The founder claims that kids are the primary market for all sauces sold in supermarkets. Sanaia Applesauce, on the other hand, is intended for grownups.
What Is Sanaia Applesauce?
Since the majority of the applesauce sold in the market is geared toward children, Sanaia Applesauce was developed as a line of products for adults. One or two baked green apple wedges are included in every jar of Sanaia Applesauce, making it a wholesome and delectable treat.
One or two baked green apple wedges are also included in each jar of Sanaia Applesauce. During Season 10 of Shark Tank, she asks for a $150,000 investment in exchange for 15% stock in her food company. (Sanaia 7.75-ounce jars are $19.99 for four).
Who Is The Founder Of Sanaia Applesauce?
Sanaia Applesauce was founded by Keisha Smith-Jeremie. Before starting Sanaia Applesauce, Keisha held positions as global co-head of talent management at Morgan Stanley and managing director of human resources at News Corp. Also, check our trending articles, PittMoss Net Worth and Hot Tot Net Worth.
Sanaia Applesauce Before Shark Tank
Keisha learned about many spices and fruits while growing up on the island in the Bahamas. She attempted to cook her first batch of applesauce while ill at the University of Virginia during her time away from home for college.
She mingled a variety of fruits that she had mixed and that she remembered from her youth. Keisha never intended to launch her applesauce company. When she wanted to eat well, it all began as a hobby for her.
However, her interest quickly evolved into a passion, which subsequently helped her start a successful company. She first created applesauce by mixing straightforward fruit like an apple and guava. Keisha quickly began producing Sanaia Applesauce in large quantities with a personal investment of $500,000.
Keisha’s applesauce attracted a lot of attention since it tasted like paradise and made people feel good. After quitting her job as a human resources executive and spending all of her money in Sanaia Applesauce, Keisha was left dependent on her parents and siblings for financial support.
As a result, Keisha decided to go to Shark Tank to get the funding she needed to grow Sanaia Applesauce production and distribution.
How Was The Shark Tank Pitch of Sanaia Applesauce?
When Sanaia Applesauce’s founder Keisha Smith Jereme asked Shark Tank for financial backing for her startup, the company was just nine months old. Keisha had an appearance in seasons 10 and episode 2 of Shark Tank. On Shark Tank, Keisha asked for a $150,000 investment in exchange for a 15% interest in Sanaia Applesauce.
She begins her speech by sharing her experience with the sharks. The product had just been put through a six-month direct-to-consumer test, Keisha told the sharks. She generated sales of about $40,000 throughout that time.
According to Keisha, people who wanted to switch to a plant-based, veg-based diet accounted for the majority of sales. Sanaia applesauce costs her $4 per jar, but she can sell a set for roughly four times that amount. Kevin O’Leary thought it seemed a little expensive, but Keisha thinks the organic applesauce recipe is worth the cost.
The sharks were curious about the amount of funding she had secured for her line of organic applesauce. Quickly responding, Keisha told the sharks that she had used $250,000 of her own money to start her company. Mark Cuban complained that the jar packaging was less cost-effective than the paper cup packaging, arguing doing away with the jar would enhance her product margins.
Unfortunately, Lori Greiner backed out of the negotiations before Keisha could react since she didn’t think the investment was right for her. Robert Herjavec also resigned because he disagreed with the presentation, especially the portion regarding how well the product performed at trade shows.
Barbara Corcoran warned Keisha that while she could make an offer, it probably would be offensive. She decided to speak it into being and informed her that she would trade her 75% of the company’s shares for $150,000. Barbara abruptly left the negotiations after Keisha quickly declined.
Before pulling out of the venture because he thought it was too risky, Kevin expressed a few of his concerns. Keisha’s last chance to close a transaction was with Mark Cuban, and despite his doubts, he stayed enthusiastic. Keisha said she would take him up on his offer of $150,000 for 25% interest.
Keisha instantly rejected Barbara’s initial offer of $150,000 for a 75% interest in Sanaia Applesauce. Keisha instantly accepted Mark’s second offer of $150,000 for a 25% ownership position in Sanaia Applesauce. Sanaia Applesauce received an investment from Mark Cuban before Keisha exited the Shark Tank stage.
Did Shark Tank Score a Deal for Sanaia Applesauce?
Yes, Mark Cuban offered Sanaia Applesauce $150,000 in exchange for a 25% ownership in the company.
What Happened To Sanaia Applesauce After Shark Tank?
The $150,000 investment by Mark Cuban for a 25% share in Sanaia Applesauce was never completed. Keisha gathered $75,000 from her contacts to put into her company. Keisha quit her full-time position as an executive in human resources to devote herself entirely to Sanaia Applesauce.
She created a box of Sanaia Applesauce yogurt-like cups and charged $19.99 for a set of 4. Each cup holds 7.75 ounces. The COVID pandemic, however, proved to be difficult for Sanaia Applesauce.
The COVID19 pandemic led Sanaia Applesauce to stop production in 2020. On their website, Sanaia Applesauce is still being sold as of this writing. You can also get Sanaia Applesauce from Walmart’s physical and online locations as well as Tastesanaia.com.
Sanaia Applesauce Update
After participating on the Shark Tank show, Keisa decided to leave her position as a human resources executive. Sanaia Applesauce wasn’t given much attention by Keisha because she took another position at Tory Burch.
In 2020, Sanaia Applesauce stopped making it because to the COVID-19 epidemic. However, Keisha stated that she intends to resume the manufacturing of Sanaia Applesauce in an interview with CNBC in February 2021. The excellent Sanaia Applesauce is available in Walmart’s physical and online locations.
No words can express the joy that I feel being able to bring sanaia back! So let me have a little @oprah meme moment 💚
🍏 Shop now: https://t.co/8PlMpTvbK5
Like so many small businesses COVID tested us in ways we never could have imagined. Every time I got a DM or text pic.twitter.com/6HTjgiOlnq
— sanaía applesauce (@tastesanaia) April 2, 2022
Is Sanaia applesauce Still In Business?
Deal between Mark Cuban and Sanaia Applesauce was never finalized. Unfortunately, the COVID-19 epidemic caused Sanaia Applesauce to go out of business. In 2020, Keisha was compelled to stop making and producing Sanaia Applesauce. As of 2022, Sanaia Applesauce’s website is still operational, and you may get their applesauce there.
Sanaia Applesauce Net Worth
When Sanaia Applesauce made an appearance on Shark Tank, it was valued at $1 million. Since Sanaia Applesauce reopened in 2022 following the COVID outbreak, its current net worth is unknown.
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