Toast It Shark Tank Update (Season 15)

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

All of their arepas are made with high-quality ingredients and are gluten-free, dairy-free, sugar-free, and non-GMO. For example, a pack of 6 Cassava (Yuca) Arepas costs $55.99, while a pack of 6 Original Arepas costs $49.99.

Company NameToast It
FounderMafe Cabezas and Coco Viete
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

Who Is The Founder Of Toast It?

The co-founders of Toast IT are two sisters named Mafe Cabezas and Coco Viete. They launched their business in 2019, starting from their own kitchen.

How Was The Shark Tank Pitch Of Toast It?

Mafe Cabezas and Coco Viete appeared on Shark Tank and asked the sharks for $100K for 5% equity. They shared their business journey, and the Sharks loved the taste of their Arepas.

By May 2023, their products were available in 900 stores, including Publix, Walmart, Whole Foods Market, and Winn-Dixie. In 2022, they made $200,000 in sales, and by May 2023 (within 5 months), they reached $195,000 in sales. They aim to achieve $500,000 in sales by the year’s end.

Their making cost is $2.30, and the selling cost is $3.23, resulting in a gross margin of only 30% before expenses, with a 20% margin after expenses.

Kevin O’Leary offered $100k for 20% equity at a $500,000 valuation. Daniel Lubetzky matched Kevin O’Leary’s offer.

The founder countered with $150k for 15% equity, but Kevin O’Leary refused. Daniel countered with $150k for 20% equity, which the founder accepted.

Toast It Shark Tank Update

Founder Mafe Cabezas welcomed her child, Lara, on October 10, 2023. Currently, the brand’s frozen foods are available at nationwide stores like 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.

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
2023$195k *estimated (May 2023)
2022$200k *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2023$150kDaniel Lubetzky

The food from this brand reflects the culture of Latin America. In 2021, it was reported that an estimated 62.5 million Latinos are living in the United States.

The official address of this food brand is Miami, Florida, United States, and according to its LinkedIn profile, it has 2-10 employees.

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