Shark Tank Deal: Bruw Accepts $50,000 From Mark Cuban

By Jennifer Weyant

jarmoluk / Pixabay

Eighteen-year-old business major and Shark Tank fan, Max Feber, entered the Shark Tank seeking a $50,000 investment in his company, Bruw, in exchange for 25% equity in his company. Max has been watching “Shark Tank” since he was eight and has learned many valuable business lessons from the Sharks that he has put to use in the creation of his cold brew coffee company.

When kids want to be entrepreneurs just as much as they want to be actors and athletes, that’s the power of #SharkTank. RT if you’re with me.

— Daymond John (@TheSharkDaymond) January 7, 2019

When an entrepreneur says they’ve been watching #SharkTank since they were 8 years old! @robertherjavec

— Shark Tank (@ABCSharkTank) January 7, 2019

Cold brew coffee is a trend that involves brewing coffee with cold water instead of hot water. This gives a smoother, less bitter taste. Most major coffee retailers are selling cold brews, however, Bruw’s signature product is a cold brew coffee filter that allows consumers to create a perfect cold brew from the comfort of their own home. To use the Bruw filter, consumers would simply use a mason jar that they have at home, add water and ground coffee and allow it to sit overnight in the refrigerator. The next day, they would remove the standard mason jar lid and replace it with the Bruw filter. The Bruw filter allows a second mason jar to be screwed on top of the filter so that the jars can easily be inverted and filtered.

Next in the Tank, it’s @bruwcoffee, a coffee filter to make cold brew at home in a mason jar! #SharkTank

— Shark Tank (@ABCSharkTank) January 7, 2019

While just finishing his freshman year of college, Max’s patent for the Bruw cold brew coffee filter, has just been approved. Max is seeking an investment from the Sharks so that he can scale his production to get his costs down and increase his margins on his product. While the Sharks are very impressed by Max, they are concerned that Bruw is a product and not a company. They are also concerned that because he is a full-time student, he won’t have the time and energy to devote himself to his company.

Despite their hesitancy, Bruw manages to receive offers from several Sharks. Kevin O’Leary, Daymond John and Mark Cuban all make offers to invest in Bruw. Ultimately, Max accepts Mark Cuban’s offer for $50,000 for 30% equity in the company. Mark’s plan is to increase profit margins rather than push the product price lower. He also wants to invest in increased marketing of the product.

What do you think of Mark Cuban’s investment in Bruw? Would you purchase this product? Sound off in the comments below!

For a full summary of this episode, check out this article. Shark Tank airs on Sundays at 9:00 PM EST on ABC.

…read more

Read more here:: B2CMarketingInsider

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge