Element Bars Shark Tank Update (Season 1)

Element Bars is a custom energy bar manufacturing company that provides bars based on user-chosen cores, fruits, nuts, sweets, and boosts. This business was founded in 2008 by Jonathan Miller.

Jonathan made his first bar in his kitchen, after which in 2008 he started making and selling a thousand bars every day. To expand his business, he appeared on Shark Tank Season 1 Episode 6 and asked the Sharks for $150k for 15% equity at a $1 Million Valuation.

What Is Element Bars?

Element Bars Custom Energy Bar Manufacturing Company provides customers with high protein and fiber and low sugar bars. Users can order a custom bar by selecting the available ingredients on the website. The bars will reach the customer in 7-10 days.

Company NameElement Bars
FounderJonathan Miller
Founded2008
ProductCustom Energy Bar
Asked For$150k for 20% equity
Final Deal$150,000 for 30% equity + 4% royalty in perpetuity
SharkKevin Harrington Kevin Harrington
Episode (Shark Tank USA)S1 E6
Air DateSep 13th, 2009
Business StatusIn Business
WebsiteVisit Website
HeadquartersChicago, Illinois, USA
Lifetime Worth (Sales)$100M *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of Element Bars?

Image credit by ABC Shark Tank

Element Bars was officially founded in 2008 by Chicago resident Jonathan Miller. Jonathan is an entrepreneur and started a business named GetCheapBooks in January 1999, which is a price comparison shopping site for books, movies, music, and video games.

How Was The Shark Tank Pitch of Element Bars?

After entering the Shark Tank, Jonathan asked the sharks for $150k for 15% equity. The business started in August 2008 and so far 30,000 bars have been sold and it is expected that 44,000 bars will be sold by the end of the year.

Last year’s gross revenue was $12,000 and this year it has just reached $50,000. Jonathan has spent $50,000 of his own money in this business.

Daymond John offered $150k for 75% equity. Kevin O’Leary and Barbara Corcoran refused to invest in this business. Jonathan said he would like to listen to offers from other Sharks.

Kevin Harrington Offered $150k for 100% equity + 4% royalty goes to Jonathan. Jonathan countered Daymond John’s $150k for 20% equity. Daymond said I’m out. Robert Herjavec offered $150k for 50% equity but Jonathan said no, so Robert said I’m out.

Kevin Harrington Countered $150k for 35% equity + 4% royalty goes to Jonathan. Jonathan said he could do 25% in equity. So this deal was finalized with 30% equity.

Sharks Offers list!

SharksOffers
Barbara Corcoran Barbara CorcoranNo Offer
Kevin O'Leary Shark Tank Profile Kevin O’LearyNo Offer
Robert Herjavec Robert Herjavec$150k for 50% equity (#1)
Daymond John Daymond John$150k for 75% equity (#1)
Kevin Harrington Kevin Harrington$150k for 100% equity + 4% royalty (#1)
$150k for 35% equity + 4% royalty (#2)
Founder’s (Countered)$150k for 20% equity (Daymond)
$150k for 30% equity + 4% royalty (Harrington)
Final Deals$150k for 30% equity + 4% royalty

What Happened To Element Bars After Shark Tank?

Element Bars gets a deal on Shark Tank. Kevin Harrington invested $150k in this business for 30% equity and 4% royalties will go to Jonathan. Within a few months of this episode of Shark Tank airing, this company achieved the million-bar ship target.

In 2021 they started making private label bars for new brands. Now this company is distributing to the United States and some selected international retailers. Lifetime sales of this company are estimated at $100 million in 2024.

Currently, they produce 1,000,000 bars for customers every month.

Element Bars Shark Tank Update

Element Bars got a deal on Shark Tank. Jonathan is a great entrepreneur and he gave a great presentation on Sharks Tank. Now he is a successful businessman and is focusing on growing his business.

What Is Element Bars’s Net Worth?

Element Bars’s net worth is estimated at $22 million. The market size of global energy bars is Estimated at USD 3.28 billion and this number is continuously increasing. Competitors in this industry are also gradually increasing.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2008-24$100M *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2009$150kKevin Harrington

Is Element Bars Still In Business?

Jonathan is a smart entrepreneur and he is currently focusing on expanding this business. He makes hundreds of thousands of dollars in profit every month from this business.

According to LinkedIn profile, this company currently has 11-50 employees and is headquartered in Chicago, Illinois, United States.

Yes, Element Bars is Still in business as of 2024.

frequently asked questions

Who founded Element Bars?

Element Bars was founded by Jonathan Miller.

Did Element Bars get a deal on Shark Tank?

Yes, Element Bars got a deal on Shark Tank.