Sunday, April 21, 2024

Jada Spices 2024 Update – What Happened After Shark Tank

Jada Spices Before Shark Tank

Jada Spices is a company that makes and sells Vegan Chicken Salt; however, they also sell a new Chick’n Mix and a Turmeric Salt as well. The Chicken Salt is available in Original, Barbecue, and Red Pepper flavors. The original is best complemented by foods like mashed potatoes, soup, salad, noodles, black beans, and more. The barbeque flavor is best for sweet and smoky foods such as briskets and ribs. And the Red Pepper flavor is great for spicy dishes like chili and curry. Jada Spices Vegan Chicken Salt includes very few, natural ingredients such as onion powder, turmeric, garlic powder, and sea salt. Additionally, Jada Spices Turmeric Salt is a combination of garlic, onion, and sea salt. The company claims that this product is high in nutrition and that its ingredients are beneficial for inflammatory conditions.

Jada Spices Vegan Chicken Salt originates from Australia; however, the founder officially launched the brand in America in 2015. Their products are all free from gluten, sugar, GMO, and MSG; they also don’t contain any preservatives, soy, fillers, or added sweeteners. Based on research shared by the American Heart Association, many processed foods contain up to 70% of the sodium consumers consume. The founder of Jada Spices understood that and created the salts to have 50% less sodium than other products and they’re subtle enough for individuals with high blood pressure and diabetes to consume.

Founder Khasha Toulei and co-founder, Maynard Okereke founded Jada Spices in 2015 with the intent of encouraging consumers to make homemade meals healthier and flavorful. Khasha and Maynard met in 2002 while they were studying at the University of Washington. Khasha then started his training to become a physician, while Maynard moved into doing an internship as an Environmental Engineer for the US EPA. The idea for Jada Spices Vegan Chicken Salt was created during the same time that the founder was in training. As he worked with patients with diabetes and high blood pressure, he would often notice how they’d struggle to keep up with their diet. They needed to remain on their diet, but they wanted something more flavorful. JADA Spices 1

Khasha grew up in Australia, and he had remembered how his mother would season the meals he wasn’t interested in eating with chicken salt. Doing so, led to Khasha wanting to eat the foods due to the burst of flavor. The founder was sure this product would help his patients with their diets as well. Now, chicken salt isn’t a new delicacy to Australians; however, many around the rest of the world may not be familiar with it. That’s why Khasha and Maynard had the idea to launch Jada Spices in America. With that, he got to work on his own blend; creating a vegan, low-sodium chicken salt option that would be safe for his patients, while still providing flavor to foods.

Following the official launch of Jada Spices, Khasha and Maynard kickstarted their sales with a few campaigns. The even gave themselves the slogan, “Love of Chicken Salt”. As they later entered Chicago’s First Vegan Mania Festival, they allowed consumers to try a sample of their Vegan Chicken Salt at no cost; it seemed that the consumers really liked the product. Consumers were offering helpful, positive comments and feedback on the chicken salt, as well as praising how convenient it is for vegan lifestyles. Given the quick rise in popularity of Jada Spices, the founders decided to attend a visit to the Shark Tank in hopes that their salt would surprise the sharks as well.

Jada Spices on Shark Tank

Khasha Toulei and Maynard Okereke enter the Shark Tank to make their debut with their spice company, Jada Spices. The founders are hoping to get a deal of $250,000 in exchange for a 20% ownership in the company. Beginning their pitch, the founders introduce themselves and share with the sharks what Jada Spices is. They show off their Vegan Chicken Spice and give the sharks a chance to check it out for themselves. Already, it appears that the investors are pleased with the spice; they like the taste, and they praise Khasha and Maynard for coming up with the idea for it. While the pitch was already going well, the sharks were interested in hearing about their sales. JADA Spices 3

The founders shared that they had made $319,000 in sales in 2019, which was four years after their launch. And Khasha stated that he thinks they will reach $500,000 in sales by 2020. Nonetheless, this data is only based on their sales from their Vegan Chicken Salt, which costs $0.80 to make and sells for $4.99. They sharks were impressed after hearing these numbers; however, some of them did ultimately decide to drop out of the deal. One of the investors biggest concerns was getting into the spice industry at all, given how competitive it is. Given that, Kevin O’Leary, Lori Greiner, Mark Cuban, and Daymond John left the deal. This left Barbara Corcoran to offer Khasha and Maynard $250,000 in exchange for a 33% ownership in the company. The founder counters the shark for a 28% ownership, but she isn’t willing to change her offer. Khasha and Maynard then accepted her initial offer.

Jada Spices Now in 2024 – The After Shark Tank Update

Unfortunately, the deal Khasha Toulei and Maynard Okereke made with Barbara Corcoran did close as of 2021; however, the Jada Spices company remains up and running as of 2024. Their appearance on Shark Tank led them to an increase in their sales, just hours after the show concluded. Not to mention, some well-known entertainment company’s and restaurant chains have reached out to Jada Brands as well. Additionally, the founders also changed the company’s name to Jada Brands shortly before launching a few new products. Their new products consist of original, plant-based Mediterranean, and plant-based barbecue Chick’n mixes. JADA Spices 2

As for how the Jada Brands sales have been going, the founders have shared that they reached $4 million worth of sales in the middle of 2022. Around the same time, the company had a valuation of $757,000. These numbers may increase soon, though, considering how popular the spice has become. Until then, Khasha and Maynard are continuing to work on bettering the company as well as improving the packaging.

Melissa Buechler
Melissa Buechler
Graduated from Washington Virtual Academies and have been a freelance writer for about 2 years now. In my spare time, I enjoy spending time with my pets, gaming, etc.
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