For anyone looking to live a healthier lifestyle, cutting back on sugar is one way to start. Wanna Date, a vegan date spread, can help achieve that goal. Melissa Bartow pitched her business on Shark Tank and landed a deal with Mark Cuban. As of 2024, Wanna Date is valued at $2 million.
Melissa Barto’s Background
Melissa Barto grew up in Kennesaw, Georgia. After high school, she attended New York University and earned a degree in Entrepreneurship.
Melissa began her career as a brand ambassador and magazine photographer. She then worked in a health food store for a few months before starting her own business.
Creating healthier alternatives
While working at a grocery store, Melissa was disappointed to find that the acai bowls they served contained over 15 grams of sugar. She thought the acai berry would provide a natural, raw sweetener.
Next, she tried baking a date-based nut butter and made her first batch in her dorm room in 2017. It’s a vegan butter that comes in five different flavors.
Wanna Date has proven to be an ideal gluten-free alternative to jams and nut spreads. With only 30 calories per serving, it’s a great way to relieve sugar cravings without relying on refined sugar.
Pitching Wanna Date on Shark Tank
In Season 11, Barto asked for $100,000 in exchange for 20% equity in her company. After handing out samples, things got a little heated. Daymond John pointed out that the lack of market research could affect its revenue.
Barbara also didn’t like that her father was giving the entrepreneur money to live in New York. After most investors backed out, Mark Cuban was willing to invest $100,000 but charge 33% interest.
Although Mark is a vegetarian, he believes that the product can be profitable in the future. Cuban also asked Melissa to increase the basic date flavor and reduce the packaging to make it more affordable. She agreed and accepted the proposal.
Making progress after Shark Tank
Sales spiked within 24 to 48 hours after the show aired, but orders returned to normal after 5 to 7 days. Despite this, many new people discovered the product and became regular customers.
Because food margins are so slim, Melissa has to constantly plow money back into the business. She revealed in January 2023 that she has never taken a salary from the company. This may come as a shock to fans who thought she became a millionaire overnight.
The contract with Mark Cuban was completed in 2020 after a slight delay and is listed on his personal website. Melissa has been working and honing during the pandemic.
This helped her get into Whole Foods Market in Manhattan. The product range expanded to date dough, a dough that can be made into savory snacks when water is added. Melissa sells dough products including birthday cakes, chocolate spreads, cookies and pumpkin spreads.
The vegan product is sold directly to consumers through her website, Amazon, and select Whole Foods stores. In addition to Whole Foods, she also sells it in local health food stores. Melissa promotes her brand heavily on Instagram, where she has more than 22,500 followers.
Wanna Date is on a roll, with cumulative sales approaching $5 million. The company is currently valued at $2 million. Melissa, 27, works as a CorePower studio manager in New York and moonlights as a CorePower Yoga sculpting instructor. It’s safe to say that Melissa’s father no longer needs to provide financial support for her.
Categories: Shark Tank
Source: svlsf.edu.vn