On Shark Tank, they pitched their idea for Yumble to the panel of investors, and they were accepted. Yumble primarily offers freshly prepared, nutritious, tasty, and wholesome meals for children.
Yumble is a food delivery service with its own app that offers weekly or monthly subscriptions and “no preparation necessary” food delivery. It caters to children ranging in age from 3 to 5 years old. Three sharks were enthused by Yumble’s concept, but they ultimately struck a deal with Bethenny Frankel for $500k in exchange for a 6% stake.
Who owns Yumble?
Joanna Parker and David Parker founded Yumble, which has a fascinating backstory. When Joanna Parker, a stay-at-home mom, started complaining about the monotony of preparing breakfast at the same time every day, her husband recognized that they weren’t alone.
As a result, they choose to go forward rather than simply repeating the same steps day after day. Yumble was the answer to this problem because Yumble provides fresh and nutritious meals for children of all ages. To use the app, users must sign up for a free week or month in advance.
As of 2016, Yumble is based out of New York City. Yumblekids.com is the company’s official website. When Joanna Parker came up with the solution to this particular problem, she suddenly became an entrepreneur.
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On Shark Tank, how did they do?
Shark Tank was the perfect platform for Yumble because it had a brilliant idea to solve a common problem: cooking and providing healthy meals for youngsters every morning. Joanna Parker asked for $500k for a 4% stake in Yumble in her pitch.
Yumble’s founders were able to successfully hit three sharks in the aquarium after presenting the entire concept. Investor and businessman Rohan Oza expressed interest in the company and offered $500k for 12 percent of its stock.
That’s what Lori Greiner had to say. When Bethenny Frankel saw an opportunity to earn $500k in exchange for a 6% stake in her company, she leaped at it.
Yumble has been on Shark Tank for how long?
Yumble has dominated the market since its appearance on Shark Tank, and they’ve even surpassed that mark thanks to sales through their website, Yumblekids.com. They were able to secure $12.5 million in funding from venture capitalists. Yumble was valued at $8.3 million by Bethenny Frankel.
The duo claimed to have made $1.3 million in sales before appearing on Shark Tank. It never happened to make a deal with Bethenny. Venture capitalists contributed $12.5 million to the project. As of June 2021, the company’s annual sales had reached $8 million.
Even though they never had any transactions with Frankel, they were able to maintain their business and their sales increased as a result of their hard effort. It’s expected that Yumble’s annual sales would reach $8 million by the year 2021.
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There was an increase in Yumble’s revenue:
There is an online store called “Yumblekids.com” where the meals are sold for a weekly or monthly subscription fee, and this is where Yumble makes its money. They charge $6.9 to $7.9 for the lunch, with sales of $1.3 million in 2018.
Yumble net worth
As of the Shark Tank appearance, Yumble was valued at $8.34 million in cash and stock. An $8.5 million VC round from Sonoma Brands and others was also raised in September 2018.
Analyze the Competitors:
The competition serves as a catalyst for self-improvement. Yumble, on the other hand, has a lot of rivalry in the market, which could have an impact on the company’s valuation and revenue. Yumble’s main competitors include the following:-
- Ben and Mia are a couple.
- Turkiye’s greatest hero
Yumble has maintained its reputation even in the face of fierce competition.
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Does Yumble have a website anymore?
Yumble’s popularity and reach have increased since Bethenny became a spokesperson for the company. Yumble is becoming more accessible because they are constantly coming up with new recipes.