Slice of Sauce Shark Tank Update (Season 12)

Slice of Sauce is a food and beverage startup based in Austin, Texas, founded in 2016 by a husband-and-wife team.

Slice of Sauce offers a unique condiment in the form of mess-free slices. This product is non-GMO, free from high fructose corn syrup (HFCS), preservatives, and is both vegan and gluten-free, making it a healthy choice.

It provides flavor-packed solutions for “soggy sandwiches” and pairs well with burgers, wraps, tacos, and more. The slices are crafted from natural ingredients and vegetables, having been created through a natural process.

Each pack contains eight slices, making it a convenient option for vegan consumers and anyone looking for an easy-to-use condiment.

Unlike traditional sauces, Slice of Sauce looks like bread but tastes like sauce. It avoids the mess associated with liquids, making it ideal for travel or office use.

The product has a shelf life of 12 months, which is advantageous for storage and convenience. It is available for purchase in bulk.

Who Is The Founder Of Slice of Sauce?

Founders Cole Williams and Emily Williams delivered impressive presentations on Shark Tank.

Cole and Emily have put significant effort into growing their startup, having extensive experience from previous roles.

Emily earned her Bachelor of Arts from Michigan State University and a Postbaccalaureate Certificate in Premedical Studies from Georgetown University. After her studies, she worked at Frontrunners Inc. and Oppenheimer & Co. Inc. for 3 to 4 years before co-founding Slice of Sauce in 2017.

Cole, who completed his Visual and Performing Arts degree at Purchase College, SUNY, worked for several years at CW Fitness and SoulCycle before joining Emily in launching Slice of Sauce.

Did Slice of Sauce Get a Deal on Shark Tank?

Emily and Cole Williams asked the Sharks for a $200,000 investment in exchange for 10% equity in their company.

Barbara Corcoran was the first to weigh in, stating that she could not see the scalability of the product and thus chose to pass.

Lori Greiner mentioned that the product seemed unnecessary at the moment and was priced higher compared to other sauces. She decided not to invest.

Kevin O’Leary agreed with the other Sharks but offered $200,000 for a 5% stake in the company, plus a royalty of 10 cents per unit until $700,000 was repaid.

Alex Rodriguez proposed $200,000 as a loan that would convert to 20% equity when the company reached $1.8 million in sales.

Emily countered with a request for $200,000 as a loan that would convert to 15% equity when $1.8 million in sales was achieved.

The final deal was that Alex Rodriguez invested $200,000 as a loan, which would convert to 20% equity once Slice of Sauce reached $1.8 million in sales.

Slice of Sauce Shark Tank Update

With $200,000 in funding, Slice of Sauce invested heavily in marketing and manufacturing, leading to substantial sales growth.

The company has secured agreements with numerous restaurants, improving both the product’s taste and quality. Since appearing on Shark Tank, Slice of Sauce has achieved a fourfold increase in sales.

Updates on the official Slice of Sauce website reveal that the product is now available at many grocery stores. It can also be purchased online through various platforms and directly from the company’s website.

The retail price is $5.99 per pack, and it costs $0.75 to produce, making it relatively expensive. Interested customers can buy it either from the official website or at retail supermarkets.

With four investors backing Slice of Sauce, the company has grown into a million-dollar enterprise.

Currently, three people are employed at the company. If Slice of Sauce continues to maintain its quality and offers good service, it has the potential for long-term success.