Whatever Happened To Bleni Blends After Shark Tank?
One of the most recent deals on "Shark Tank" is shaping into a sweet investment. Featured in Episode 18 in the show's still-ongoing 14th season, the Shapiro brothers, Peter and Stuart, dived into the tank seeking a $250,000 investment for 6% equity in their smoothie vending company Bleni Blends. Using a 12-square-foot built-in kiosk, the machines can craft various smoothie flavors with no added sugars or preservatives into 16-ounce cups.
The product itself manages to impress the sharks, who are shocked by the great taste despite the lack of sweeteners. Additionally, the duo had shown considerable growth, as they are on track to hit $1.5 million in revenue after only raking in $10,000 when they started in 2020. However, many of the sharks are wary if the business has legs given licensing concerns and the nearly $20,000 cost of building each machine.
While most don't feel the investment is worth it, Lori Greiner and Daniel Lubetzky are willing to dive in with a $250,000 offer for 35% of the company, eventually adding on a $500,000 line of credit if everything the entrepreneurs presented turned out legit. While the brothers were initially hesitant to give up so much equity, they realized the value both sharks offered and took the deal.
Given that the episode aired very recently, not much has developed regarding the deal. But the company's plans suggest that big things are coming.
The Shapiro brothers have a sweet future ahead
Bleni Blends managed to score a sweet victory by teaming up with investors Lori Greiner and Daniel Lubetzky on "Shark Tank" and are on the move to expand further in the near future. "Having the opportunity to showcase our business on a national scale was a dream come true and we can't wait for what we're able to deliver to consumers as a result, including new flavors and new products to come," Stuart Shapiro tells Benzinga.
The duo plan to expand their range, which currently sees 55 machines in the United States and one in Canada, to include 100 machines by the year's end. Additionally, the team are working closely with Walmart, who aim to get the product into each of their American locations. A Walmart in Denver, Colorado is working exclusively with Bleni Blends to develop a pilot program that will see the use of an automated café.
If anyone has confidence in the future of the company, it's the investors themselves. On Twitter, Lubetzky shares, "Peter and Stuart are the real deal. They're amazing people who are working incredibly hard and have a bright future ahead. I'm looking forward to helping them win."