Ora Organic Shark Tank Pitch
Ora Organic is a new generation of traditional supplements. They address the supplements that people are taking daily, and showing what is actually used in the stuff that goes into the products. They say that vitamin C comes from Acetone, not oranges. Protein is from synthetic growth hormone, and Vitamin D comes from grease excreted from sheep oil glands.
Ora Organic gets the supplements from plant extracts. They give the Sharks a sample of their products. They start with a pineapple spray, the second is Ora Organics multi-vitamin that contains over 25 vegetables and super foods, and a third is the superfood protein. It is organic vegan coconut truffle.
They sell an Omega 3 spray, Multi-vitamin capsule, Multi-vitamin powder, and a super food protein powder. Ron grew up as a chef, and his uncle died of a heart attack and his grandfather had triple bypass surgery.
In ten months they sold over $400,000 online and sold up to $65,000 a month selling out of product, and they raised $150,000 in a convertible note.
Ora Organic Shark Tank Episode Data
- Company: Ora Organic – Website
- Entrepreneurs: Will Smelko and Ron Chang
- Ask: $375,000 for 5% equity
- Episode Season 8 Episode 818
- Companies in this episode:
- First Aired: 02/24/2017
- Deal: No Deal
What do the Shark Tank Investors say about Ora Organic?
- Mark Cuban – thought that they would create foods and sell to Plated and Blue Apron, but being a brand is a stretch. He is out.
- Daymond John – wants to know why they think that a Shark is going to join in at 5%. He thinks they are unrealistic. He is out.
- Kevin O'Leary – likes that they have sales, but getting market share is going to be extremely hard, but Kevin is going to make an offer. He wants 20% equity for $375,000. He won't negotiate because it is not an easy deal. They counter at 10%, but Kevin says he if he agrees that he will do it at 17% and that is it. Will and Ron counter $500,000 for 10% and Kevin says he is not doing it. They decline the offer.
- Lori Greiner – tells them that she is a customer, but the bottle is not going to work for them based on the packaging. She is concerned about their marketing. She is out.
- Robert Herjavec – says that their are a lot of people doing this and he thought they have a food based product with a different delivery. He is not a user, so he is out.
Ora Organic after Shark Tank