BAM Shark Tank Latest Update (Season 16)

For a healthier lifestyle, many people have switched to a fully vegan diet and now prefer plant-based milk over dairy milk.

Paige Hansen wanted to create a nutritious and eco-friendly alternative to dairy milk, so she founded BAM (Because Agriculture Matters), a company that makes healthy, plant-based milk from buckwheat. Buckwheat is a gluten-free, nutritious, and sustainable crop.

BAM offers three varieties of buckwheat milk: Original, Hint of Vanilla, and Extra Creamy. Their milk is vegan, dairy-free, soy-free, and gluten-free, with no artificial flavors or oils.

Who Is The Founder Of BAM?

BAM, which stands for Because Agriculture Matters, was founded in 2021 by Paige Hansen. She comes from a journalism background and has worked with several media houses, including KPIX, NBC News, Participant Media, CBS, and Cheddar.

Her last job was as the Head of Sales and Marketing at the corporate company Farmshelf.

How Was The Shark Tank Pitch Of BAM?

Paige pitched her dairy-free buckwheat milk brand, BAM, to the sharks, seeking $250,000 for 10% equity, valuing her company at $2.5 million. She introduced the product by highlighting the environmental and health benefits of buckwheat seeds.

Initially, Paige launched her product in just 25 stores as a test. From September 2023 to early 2024, BAM generated $50,000 in total sales. She shared that the landed cost per bottle is $2.94, and it is sold to distributors for $4.95.

The retail price ranges between $8.29 and $10.99. However, she revealed that the company is not yet profitable and is currently burning $12,000 per month. Additionally, she had previously raised $250,000 through a convertible note at a $2.5 million valuation.

When Guest Shark Rashaun Williams asked about estimated 2024 sales, Paige projected $200,000 in revenue. However, the sharks were hesitant to invest. Kevin O’Leary didn’t like the taste of the product and decided to pass.

Mark Cuban also didn’t enjoy the taste but advised Paige to focus on building a strong community—though he, too, opted out. Lori Greiner felt the business wasn’t the right investment for her, while Daymond John believed it was still in the early stages and chose not to invest.

Paige’s last hope was Rashaun Williams, who frequently invests in beverage businesses. However, he wasn’t comfortable investing in BAM at this stage, so he also declined. Ultimately, Paige left without a deal.

BAM Shark Tank Update

Unfortunately, Paige did not secure an investor for her dairy alternative milk business, BAM, on Shark Tank. However, she revealed that her milk product has already launched in Whole Foods and that BAM will be partnering with a major retailer in January 2025.

This collaboration will enable bulk production, potentially reducing manufacturing costs by up to 60%. As a result, profit margins are expected to increase, making it a significant growth opportunity for the business.

What Is the Net Worth of BAM?

Plant-based milk is becoming increasingly popular, with more people choosing it as an alternative to dairy. In 2024, the market size for this industry is estimated to be $20.84 billion, and it is expected to grow at a CAGR of 7.6%, reaching $32.35 billion by 2030.

Based on company valuation, lifetime sales, and market capitalization, BAM’s estimated net worth is around $2.7 million.

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