Misto Box Shark Tank Pitch
Misto Box is a subscription service that has been in business for about five months before their Shark Tank pitch. Samantha and Conor are revolutionizing the way people find new coffee's. They search out local coffee makers to showcase their blends and then allow you to special order the ones you like most.
There are more than 400 million cups of coffee that are consumed daily The independent coffee makers are the vast majority of sales, and Misto Box sources the worlds best artisan coffee around the world. They hand select the best coffees for you to try each month.
The Misto Box subscription service is sort of like a selection of the month. Their cost of acquisition for the customer is $4.60. They started the company out of the University of Arizona's entrepreneurship program. The sharks ask if Conor and Samantha are dating, but they are business partners.
No matter what you do, there is no additional cost for the subscription. They have a 35-40% margin. The coffee is substantially discounted and even free to Misto Box in order to get the exposure for their coffee's.
Misto Box Episode Data
- Company: Misto Box –Website
- Entrepreneurs: Samantha Meis & Conor Riley
- Ask: $75,000 for 15% equity
- Episode Season 4 Episode 423
- Companies in this episode:
- First Aired: 05/02/2013
- Deal: Mark Cuban $75,000 for 30%
What do the Shark Tank Investors say about Misto Box?
- Mark Cuban – wants more equity if they want him to invest. Samantha and Conor offer 30% of their company and Mark accepts the deal. Connor says that Sam has a crush on Mark.
- Daymond John – doesn't drink coffee so this is not a good investment for him.
- Kevin O'Leary – offers $75,000 for 25% equity based on a crapshoot.
- Lori Greiner – does not drink coffee so she is out.
- Robert Herjavec – does not see the long term vision of the company
Misto Box after Shark Tank
Misto Box closed the deal with Mark Cuban, making it part of the Mark Cuban Companies. Mark helped Samantha and Mark to look at their costs, making it more affordable, and increasing the sales as well as allowing their customers to choose their coffee's. They completely overhauled their subscription service and they have more than $2.5 million in sales. Margins are growing and their customers are happy.