Sweetkiwi Valuation Analysis: How Shark Tank Boosted Its Fortunes

Sweetkiwi is a frozen yogurt with healthy ingredients that claims to improve gut health. The company was founded in Africa, and founders Ehime Eigbe-Akindele and Michael Akindele moved to the United States to expand their business. They pitched their business on Shark Tank Season 14 and landed a deal with Robert Herjavec. After Shark Tank, Sweetkiwi was valued at around $4 million.

About the Founder

Ehime Eigbe-Akindele and her husband Michael currently live in Washington, D.C. Previously, Ehime lived in London, where she studied at London Metropolitan University. Michael lives in Lagos, Nigeria, and is a graduate of George Mason University.

Prior to starting her own business, Ehime worked in customer service at retail stores such as River Island and Asda in the UK. She later held senior positions at Amnesty International, Chase and Citibank.

Michael started out as an analyst at Accenture and later spent five years as Digital Content Director at Fusion Media and Entertainment Company. He also founded two startups, JohnRhoda and Uncharted Ventures.

Founding Sweetkiwi

After being diagnosed with uterine fibroids, Ehime started cooking for herself. Ice cream is her favorite food because she has a sweet tooth. It was hard for her to give it up, so she made a healthy alternative to this guilty pleasure.

With the help of a frozen yogurt she invented that was made from superfoods to support immunity and gut health, Ehime and her husband founded Sweetkiwi in Nigeria in 2011. The company became a huge success, and Ehime became an influential role model for aspiring female entrepreneurs in the country.

They only work with local farmers and support the African dairy industry. In 2019, the couple took a step towards going international. They brought their brand to the United States and established a base in Washington, D.C.

Appeared on Shark Tank

Sweetkiwi has been expanding since moving overseas. The founders adopted a variety of marketing strategies to gain a lot of exposure. They also received a $200,000 grant from the Black Lives Matter movement.

In the past, they have received honours such as the British Council Alumni Award and the Oxfam Progress Award. In 2022, they were selected from 40,000 companies for Season 14. Ehime and Michael gave a professional presentation and were clearly well prepared.

After Shark Tank

When the episode aired in March 2023, Ehime and Michael noticed a significant increase in orders. Ehime and Michael plan to expand the business to the UK, Canada, and Mexico. It’s too early to say when Sweetkiwi will achieve these milestones, but anything can happen with the “Shark Tank Effect.”

Their gut-friendly products can be purchased on their website, Sweetkiwi.com. They are currently available in over 1,700 retailers across the U.S., including Kroger, Walmart, and Whole Foods. In March 2023, the company will offer a 20% discount to Shark Tank viewers. Goodhousekeeping.com listed Sweetkiwi’s Chocolate Hazelnut Ice Cream as one of its 15 Healthiest Ice Creams.

The frozen dessert product has an average rating of 4.3 out of 573 Google reviews. Sweetkiwi is thriving and is expected to set record sales in 2023. The business is currently valued at an estimated $4 million.

Categories: Shark Tank
Source: svlsf.edu.vn