What Happened To Banana Loca After Shark Tank?

Banana Loca is a gadget featured on Shark Tank Season 13 Episode 9, designed to fill bananas with spreads like peanut butter and jams without breaking them. Founder Renee Bechara sought $250,000 for 25% equity in the company.

Based in King of Prussia, Pennsylvania, Banana Loca operates under the registered name NA Market Direct LLC.

Renee and Bechara, close friends with a shared passion for inventing gadgets, conceived the idea for Banana Loca. Inspired by childhood memories of enjoying bananas with Nutella or peanut butter, they envisioned a gadget that would easily transform bananas into healthy and delicious snacks and desserts.

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Did Banana Loca Get a Deal on Shark Tank?

Banana Loca’s founders, Renee and Bechara, delivered a compelling pitch on Shark Tank, seeking $250,000 for 25% equity in their company.

Kevin O’Leary expressed immediate interest, proposing a royalty deal of $3 per unit. He was ready to invest, but negotiations continued.

Daymond John liked the product but felt it was a one-time purchase, leading him to opt out of the deal.

Lori Greiner considered the business too early for her and chose not to invest at this time.

Robert Herjavec was enthusiastic about Banana Loca but proposed $250,000 for $3 per unit until $350,000 plus 10% equity, which was not accepted.

Mark Cuban and Kevin O’Leary joined forces, offering $250,000 for 25% equity plus a $3 royalty until $250,000 was recouped.

After some negotiation, Renee and Bechara countered with a $2 royalty offer, but Mark and Kevin stuck to their original terms. Ultimately, the deal was finalized at $250,000 for 25% equity with a $3 royalty until $250,000 is repaid.

What Happened To Banana Loca After The Shark Tank?

After securing funding from Shark Tank through investors Kevin O’Leary and Mark Cuban, Banana Loca plans to use the $250,000 investment to propel their business growth. Co-founder Bechara acknowledges that their current marketing efforts are insufficient, impacting sales.

Their immediate strategy involves investing in paid marketing to boost visibility and expand sales channels to include retail stores. Previously available exclusively online, Banana Loca has seen a surge in orders post-Shark Tank, with customers viewing the product as both practical and entertaining due to its unique ability to enhance the enjoyment of eating bananas.

As of October 2022, there has been no confirmation of the deal closure with Kevin O’Leary and Mark Cuban. There have been no updates on product launches or improvements on their website by December 2022.

We continue to monitor updates from Renee Heath, Bechara Jaouden, and Banana Loca for developments.

What Is Banana Loca Net Worth?

Following its funding on Shark Tank, Banana Loca is estimated to be worth $0.5 million. The company has achieved impressive sales growth through effective paid marketing strategies.

Initially reliant on online sales and social media influencers, Banana Loca has expanded its sales channels and is experiencing a steady increase in both sales and overall growth.

Yes, Banana Loca is still in business as of July 2024.

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