Toast It Shark Tank Update (Season 15)

TOAST IT is a brand specializing in ready-to-eat Venezuelan arepas and Latino foods. They offer a range of products, including Cassava Arepas, Chia Flaxseed Arepas, Original Arepas, Pandebono Bites, and Plantain Bunuelos.

All their arepas are crafted from high-quality ingredients, and they are gluten-free, dairy-free, sugar-free, and non-GMO. For instance, a pack of 6 Cassava (Yuca) Arepas is priced at $55.99, while a pack of 6 Original Arepas costs $49.99.

Company NameToast It
FounderMafe Cabezas and Coco Viete
Founded2019
ProductGuilt-free & convenient Latin American food staples
Asked For$100k for 5% equity
Final Deal$150k for 20% equity
SharkDaniel Lubetzky Shark Tank Profile Daniel Lubetzky
Episode (Shark Tank USA)S15 E2
Air DateOct 6, 2023
Business StatusIn Business
WebsiteVisit Website
HeadquartersMiami, Florida, USA
Lifetime Worth (Sales)$0.4M *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

How Was The Shark Tank Pitch Of Toast It?

Mafe Cabezas and Coco Viete, the founders of TOAST IT, appeared on Shark Tank seeking $100,000 for 5% equity in their company. They impressed the Sharks with the taste of their arepas and shared their journey.

By May 2023, TOAST IT’s products were in 900 stores, including Publix, Walmart, Whole Foods Market, and Winn-Dixie. In 2022, the company achieved $200,000 in sales, and within the first five months of 2023, it nearly reached $195,000. They are targeting $500,000 in sales by the end of the year.

TOAST IT’s arepas cost $2.30 to make and sell for $3.23, yielding a gross margin of 30% before expenses and a 20% margin after expenses. Kevin O’Leary initially offered $100,000 for 20% equity, valuing the company at $500,000, and Daniel Lubetzky matched this offer.

The founders countered with a request for $150,000 for 15% equity. Kevin O’Leary declined, but Daniel Lubetzky countered with $150,000 for 20% equity, which the founders accepted.

Toast It Shark Tank Update

Founder Mafe Cabezas welcomed her child, Lara, on October 10, 2023. Currently, TOAST IT’s frozen foods are available at nationwide stores including Walmart, Publix, Winn-Dixie, Whole Foods, Milans, and more.

What Is Toast It Net Worth?

The estimated net worth of Toast It is $1 million, based on the company’s lifetime sales and valuation. The brand’s products reflect Latin American culture, catering to a significant market, with an estimated 62.5 million Latinos living in the United States as of 2021.

Toast It is headquartered in Miami, Florida, and has 2-10 employees according to its LinkedIn profile.

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