Undoubtedly, the keto diet has become one of the most popular dietary trends in recent years. It’s a diet that allows you to consume all the fats that other diets instruct you to avoid. Hence, it’s gained widespread popularity.
Simply put, it is a diet that does not leave you feeling deprived. Cave Shake, which appeared on Season 10 of the television show Shark Tank, is a company whose delectable, creamy drinks capitalize on the Keto diet’s popularity.
Cave Shake’s Net Worth?
The owners of Cave Shake estimated that their end-of-year sales would reach $750,000 at the time of the show’s taping. They anticipated the Whole Foods distribution launch, which ultimately occurred.
Charles Barkley’s investment established the company’s valuation at $1.25 million.
Cave Shake hasn’t said how much it is worth right now, but Barkley’s investment and the sales from the incubator agreement make it likely that the company is worth more than Barkley thought.
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More About Cave Shake
Cave Shake is a meal replacement shake made from coconut milk that is vegan, paleo, gluten-free, sugar-free, and dairy-free. It contains medium-chain triglycerides, a healthy type of fat that contributes to the keto diet’s high energy levels.
The nutritious snack can be served cold for a smoothie-like texture. Or, like a protein shake, it can be drunk at room temperature after a workout at the gym.
Holly Heath and Billie Caviar of Los Angeles pitched their food business on Shark Tank in October 2018.
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Who is the Cave Shaker Founder?
Longtime friends Hollie and Billie decided to modify the Keto diet, and here is how it all began. The two people came up with sweet smoothies to satisfy their cravings while staying away from dairy, carbs, sugar, and gluten.
Cave Shake was one of the first companies to offer a ready-to-drink Keto shake that people on a Paleo or Keto diet could use as a meal replacement.
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Is Cave Shake still in business today?
Cave Shake, now renamed Space Shake, is still in operation. The rebranding to Space Shake is part of the agreement with Shark Charles Barkley.
Additionally, the corporation altered the flavor of its shakes and eliminated strawberries. They altered the original jar packaging to a pouch with smaller serving size.
Their products can still be ordered on their website. According to their website, Space Shake products are currently sold in over 50 Whole Foods locations throughout California and even in Las Vegas.
Their social media presence is not as prominent as other firms that have participated in Shark Tank and landed a transaction. Their Instagram account has barely 20,3k followers, and participation is minimal.
Cave Shake must be able to stand out in a crowded market for nutritional drinks in order to be successful. Even though the company was on Shark Tank and had Charles Barkley’s support, it doesn’t look like it was able to take advantage of either chance.
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Let’s know about the Cave Shake’s History
For two reasons, Holly Heath and Billie Cavallaro pitched Cave Shake, but the Sharks were hesitant to invest for two reasons.
The current collaboration between the company and incubator LA Libations did not sit well with the Sharks. O’Leary added that he did not like the fact that another company was receiving a free royalty while he would not even receive a commission for his $250,000 investment.
Second, the two entrepreneurs forecast a $750,000 profit by the end of 2018. This was a tremendous increase from their sales of $270,000 in 2017. This projection was based on anticipated revenues from the relationship with LA Libations, which had not yet been realized at the time the show was recorded. This caused the Sharks to question the company’s revenues and valuation.
Fortunately for Cave Shake, Barkley believed in them as individuals and business people. In addition to wanting to support the organization’s mission to assist individuals to lose weight, Barkley revealed that he liked them well enough to invest in the company.