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Pricklee Cactus Net Worth in 2024: How has Shark tank Helped the Beverage business?

Pricklee Cactus Net Worth in 2024: How has Shark tank Helped the Beverage business?

Pricklee Cactus Water is a drink made from the fruit of the prickly pear cactus plant. It is low in sugar and calories. Natural vitamins, electrolytes, and 25% DV Vitamin C in it make you healthier and stronger.

There are three types of the drink: original prickly pear, mango ginger, and strawberry hibiscus. When the owners of Pricklee first showed off their new product to the public, they did so while dressing as fun and festive cacti and giving out samples.

They finally got on “Shark Tank,” where they were featured on episode 22 of season 13 of the hit reality show. Two heroes of the Tank got into a fight when they showed up, which shows how popular their drink is.

Pricklee

Pricklee Cactus Net Worth in 2024

There is no longer any coconut water on the market for plant-based drinks. To replace it, Mo Hassoun and Kun Yang made the Pricklee Cactus. To give it its name, it’s made from pear cactus plants, which are healthy to grow and full of antioxidants.

Barb Corcoran agreed to buy it after the owners pitched it on Shark Tank. Techie Gamers says that The Prickly Cactus is worth about $3 million as of 2024. The foundersPeople think of Mohammed Hassoun as the company’s heart.

He moved to the United States to study health sciences, but he is actually from Lebanon. Kun Yang is another health and wellness fanatic. He is from Boston and attended McGill University for his bachelor’s degree in anatomy and cell biology.

After that, he went to the University of Maryland School of Pharmacy and got his Doctor of Pharmacy. The only people who pitched the idea on Shark Tank were Mo and Kun.

However, they have three other co-founders: Sarwang Shah, Aakash Dheri, and Jaanai Babb.  All five of them met at the Massachusetts College of Pharmacy and Health Sciences.

Pricklee

Founding Prickly Cactus

The people who liked plant-based drinks the most were Mo, Kun, Sarwang, Aakash, and Jaanai.  They thought, though, that there were better options than coconut water. Hashoun suggested a drink made from prickly cactus and pears in 2017 that his grandma used to make in Lebanon.

The team tried it and liked it. It was tasty and better for them in many ways than other plant-based drinks. The would-be business owners used their money to start making Pricklee Cactus, which was publicly released in 2021.

The business was already making $50,000 a month after only a few months. Great numbers for a drinks company that is just starting.

If you’re craving more updates and insights on celebrities, delve into our past posts where we’ve extensively examined every detail.

Appearance on Shark Tank

It was a good start for the business, but the leaders need to build it up quickly. Mo and Kun asked for $200,000 for 5% of their new business on season 13 of the show. The Sharks liked what they saw. They had never done that before, so it caught them off guard.

There was a lot of competition in the beverage area, so some of the Sharks were hesitant to put money in. They didn’t do a great job of getting the word out about the cactus’s main perks, according to Mark Cuban. Also, they were against coconuts.

Kevin O’Leary made an offer of $200,000 for 20% after four Sharks had already left. The founders asked Mr. Wonderful if it was possible to use a line of credit, but he wouldn’t give in. Barbara came back in and agreed to a line of credit for $200,000 and a 5% stake in the business.

Barbara finally gave a good reason for being absent, and she then made a deal. After Shark TankThe Pricklee Cactus show aired in 2021,  the company is still trying to get it to more people. The cactus drink can be found in 875 places right now, like Stop & Shop, 7-Eleven, and Green Naturals Food.

Over 90% of their shops are on the East Coast, and there are only 7 on the West Coast right now. They can also be bought on Amazon and Pricklee.com. The company that makes drinks has 3.9 stars out of 5 stars on Amazon from 498 reviews.

Pricklee

Because of this, the company sees the West Coast as a key growth area for 2024. Pricklee Cactus hasn’t released any new sales numbers, but they should make between $500,000 and $750,000 a year. Because of this, the company is thought to be worth $3 million.

One of the big liquor companies will probably buy the small business if they can get it distributed and make more than $10 million a year.

Do they still do business?

People can buy a 12-pack of Pricklee’s flavors on its official website. The tastes include the original prickly pear, mango , and ginger, and strawberry and hibiscus.

There is also a mix pack that has all three choices. People who want to use the service can either buy something once for $34.95 or sign up for a subscription service that sends new items every two weeks and saves 15% on sales.

In addition to large online stores like Amazon, Pricklee has also reached out to smaller stores. You can find the brand at Sprouts Farmers Market, as stated above, as well as Stop & Shops, Gopuff, Alltown Fresh, and other stores. You can use the website’s store locator to find all of these locations.

Pricklee

This spread has grown to include Pricklee’s social media as well. There are more than 56,000 people who follow Pricklee on Instagram, Facebook, and TikTok. Pricklee’s social media posts are full of bright colors, cartoon figures that are all about cacti, and a generally happy mood.

This shows that the company wants to promote the cactus and all of its benefits. The business is expected to make $1.5 million a year and have a net worth of $3 million in 2023.

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