Saturday, June 15, 2024

Souper Cubes 2024 Update – What Happened After Shark Tank

Souper Cubes Before Shark Tank

Finding the perfect storage for freezing leftover foods can sometimes be a tricky task. While glass bowls, plastic bowls, and even Ziploc bags can be used for freezing foods, they aren’t the best option. Using these storage containers leads to wasted foods and potentially even damaged containers. Given that, there really hasn’t been an ideal, efficient option for storing foods in freezers. Or at least there hadn’t been one until two entrepreneurs created Souper Cubes.

Jake and Michelle Sendowski is the husband-and-wife entrepreneurial team that came up with the concept of Souper Cubes. Before starting their journey as entrepreneurs, Jake was working as a researcher with Intel Security after studying at California Institute of Technology to get his master’s degree. After his first two years in this position, he transferred to Vectra AI, where he became senior product manager. Michelle, on the other hand, studied at UCLA, where she studied to become an educator. After graduation, she went on to teach at a Mastery Charter School. From there, she eventually taught at UCLA, Stanford University, and Seeds of Peace.

The journey towards starting Souper Cubes started when the two started their relationship. During this time, Michelle struggled to find clean, organized ways to store their leftovers in the freezer. She came up with the idea to use ice cube trays; however, each section could only hold a small amount, leading her to shortly realize how impractical it was. Although the trays didn’t work, the idea of using them led Jake to think of a solution. He figured they could create their own storage trays that could hold bigger portions. And with that, in 2017, Jake and Michelle launched their product, Souper Cubes.

Souper Cubes are food-grade, BPA free, silicone storage trays that are mean’t to be used as a means of freezer storage. Though, the trays can also be placed in the oven for easier reheating. The lids, however, are not safe for heat exposure. Souper Cubes come in a variety of sizes for different portions and meals. They can be tightly sealed with their lids and stacked in the freezer, storing anything from stocks and broths to soups and much more. 81846nc1VWL. AC SL1500

Jake and Michelle started Souper Cubes using their own personal income; however, thanks to the help of a variety of partners, they were able to launch the business successfully. As for their manufacturing, they had a friend in China that was able to help them start that process. At this time, their Souper Cubes could be found on their website, along with helpful recipes, and on Amazon. Shortly after launching their business, they made it up to $940,000 in sales and their Souper Cubes were seen in Williams-Sonoma and Sur La Table locations around the United States. Nonetheless, Jake and Michelle are hoping that a shark can help them further distribute their Souper Cubes.

Souper Cubes on Shark Tank

Jake and Michelle Sendowski, and their products Souper Cubes, were featured in Shark Tank’s season 12 episode. The entrepreneurs appeared on the stage seeking for a deal of $400,000 in exchange for a 5% equity in their business. At the time of their appearance, Souper Cubes was already on the right path to reach $3 million by the end of the 2021 year; however, they still hoped a shark could help them with their distribution. The couple goes on to introduce themselves and pitch their product, During their pitch, Michelle adds in that they already have a highly satisfied group of customers whom leave them helpful, positive comments.

When it comes to the Sendowski’s marketing tactics, they have been using Twitter, Instagram, Google Ads, and Facebook in order to reach their target audience and bring attention to their products. Already, the sharks are impressed. They love the idea of Souper Cubes, and they are fans of the design. Though, this interest only peaked higher once Jake and Michelle introduced the numbers. In fact, the sharks appeared to have a small argument over who gets a slice of the Souper Cubes business. The couple sparked further interest when they told the sharks that they reached $990,000 in sales during 2019, with another $1.6 million in 2020. sc press 1

To start off with the offers, Kevin O’Leary presented Jake and Michelle with two offers. One was for $400,000 and a 3% equity in Souper Cubes, along with a $0.40 royalty per unit sold. His second offer was for $400,000 and a 15% equity and no royalties. At this time, Kevin’s offers sparked a bit of a challenge between him and Barbara Corcoran. She made the couple two offers as well. Her first offer was for $400,000 and a 10% equity, while the second one was for a 20% equity. She added in that, if the Sendowski’s accepted the second offer, she would invest $800,000 in Souper Cubes.

In response to Barbara’s second offer, Michelle rejects it due to the 20% equity being too high. Kevin O’Leary then chimes in to adjust his deal. He offers them the $400,000 in exchange for a 3% equity and a $0.40 royalty until a $1 million invest is paid off. Mark Cuban finally speaks up; however, he is going out on the deal. He tells the entrepreneurs that he loves the idea and the name of their business, but he isn’t going to invest because he isn’t too educated on the business thus far. At this point, the couple still has a few offers to choose from, along with Lori Greiner’s decision.

Lori chimes in to tell the Sendowski’s that she, too, loves Souper Cubes. She can’t find any negative aspects of the business, and she would like to invest. With that, she gives the Sendowski’s her Golden Ticket. The Golden Ticket is only given out once in each season, and it indicates that she is truly impressed by the business, making it the best one she’s been pitched about. Lori offers the couple exactly what they hoped to get, $400,000 in exchange for a 5% equity in Souper Cubes. Jake and Michelle accept Lori’s offer and leave Shark Tank with their desired deal. images 6

Souper Cubes Now in 2024 – The After Shark Tank Update

Since appearing on season 12 of Shark Tank, Souper Cubes has remains up and running and is actually thriving. In fact, the business saw a spike of $938,000 in sales within just 24 hours after their appearance on the show. They did have temporarily stop filling those orders though as they ran low on inventory. The business continues to expand, spending their funding on their marketing and distribution. Souper Cubes already has distribution worldwide; however, Jake would like for the company to expand globally as well.

Thanks to Lori’s guidance, Souper Cubes have been seen being sold in Crate + Barrel and Bed, Bath, and Beyond. They even started selling new products such as cookie trays, freezing trays for breast milk, and baking dishes. All of their come in a new variety of sizes and can be purchased from the mentioned retailers, as well as Amazon and their company website. As of 2024, Souper Cubes has more than $14 million worth of lifetime sales, and they are currently sitting at a net worth of more than $8 million.

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.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here