Truffle Shuffle Shark Tank Update (Season 12)

Truffle Shuffle is a home cooking learning class and meal kit delivery service that offers online cooking classes to both chefs and home cooks, along with the necessary food ingredients.

The platform features a variety of recipes focused on truffle dishes and provides live classes or recorded sessions via Zoom. Professional chefs, including Chef Jeremy, Chef Connie, Chef Jason, Chef Tucker, Chef Tyler, and Somm Sarah, guide participants through the cooking process, ensuring they learn to create delicious meals.

Truffle Shuffle offers over 52 cooking classes, each lasting more than an hour, and includes fresh truffle ingredients. Their products, such as Fresh Australian Truffles, Balinese Truffle Salt, White Truffle Butter, Truffle Carpaccio, Truffle & White Cheddar Kettle Corn, and Brown Butter Truffle Honey, are available at Whole Foods, Amazon, and on their website.

Another Shark Tank Pitch

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Who Is The Founder Of Truffle Shuffle?

Jason McKinney is the Founder and CEO of Truffle Shuffle. Before starting the company, he worked at The French Laundry, a renowned restaurant based in California. Additionally, Jason has experience at Hawkeye Ranch and served as a director at Project No 4 IIc.

Sarah Rundle-McKinney, Jason’s wife, is the co-founder of Truffle Shuffle. She graduated from the Academy of Art University.

Tyler Vorce is another co-founder who previously worked alongside Jason at The French Laundry.

How Was The Shark Tank Pitch Of Truffle Shuffle?

Truffle Shuffle, co-founded by Jason McKinney and Tyler Vorce, entered Shark Tank Season 12, Episode 21, seeking $500,000 for 5% equity in their business.

During their pitch, they shared their culinary backgrounds and the story behind their cooking teaching business to convince the Sharks to invest. They highlighted their Balinese Truffle Salt, priced at $20 per jar, with a production cost of $2.80. In its first year, the product generated $65,000 in sales, which increased to $486,000 in two years.

They noted that truffles are sensitive and have a shelf life of just five days. In 2020, Truffle Shuffle achieved $1.4 million in sales, charging between $95 and $125 for virtual cooking classes, resulting in a 60% profit margin. However, they reported a surprisingly low net profit of only $8,000 from that revenue and currently have $165,000 in the bank.

So far in the current year, they have earned $212,000 solely from truffle products sold through platforms like Whole Foods.

Lori, Mark, and Daymond opted out of the investment offer. Robert Herjavec offered $500,000 for 20% equity, while Kevin O’Leary expressed interest but proposed a $500,000 loan at 9.5% interest for a 25% stake.

An entrepreneur also made an offer to Robert and Mark for $500,000 in exchange for 7% equity each. Mark declined, but Robert remained firm on his 20% offer, indicating he could partner with either Mark or on his own.

The entrepreneur countered with 15% equity, but Mark countered with 18%. The entrepreneur then offered 17%, and Mark made a final counteroffer of $501,000 for 18% equity. Ultimately, the entrepreneur agreed to Mark’s offer.

Truffle Shuffle Shark Tank Update

Truffle Shuffle secured a deal on Shark Tank with a valuation of $2.7 million, making Mark a partner in the business. Since then, they have hired many chefs to expand their offerings, teaching a variety of dishes.

In February 2022, American rapper Raekwon the Chef participated in a live cooking class as a guest. The company also launched its membership program, “Foods Is Love,” in June 2022, featuring four tiers: Bronze ($1,724.99), Silver ($2,620), Gold ($3,550), and Platinum ($5,800).

By the end of 2022, Truffle Shuffle’s estimated annual revenue reached $6 million. They have developed numerous new recipes, which are shared during their cooking classes. A variety of chefs, including Jeremy, Tucker, Connie, Somm Sarah, and Dave, have joined the team to lead online cooking sessions.

In August 2022, Truffle Shuffle finalized its partnership with Mark and collaborated with Fruitful, adding a new product called “Wine-o-Magic 5000” to their website.

What Is Net Worth of Truffle Shuffle?

Truffle Shuffle secured a deal with Mark at a valuation of $2.7 million, although some reports suggest the company’s worth could be as high as $15 million. As the online cooking class industry continues to grow, many new companies are emerging, increasing competition in the market.