Whatever Happened To Pricklee After Shark Tank?

Kun Yang and Mohammed Hassoun hope to refresh the industry with their new drink, Pricklee. Acting as an alternative to coconut water, Pricklee uses cactus water as its basis taken from the juice inside of prickly pears that commonly grow on the desert plant. The canned beverage carries significantly less sugar and calories in comparison to coconut water while also being loaded with antioxidants, electrolytes, Vitamin C, and other beneficial ingredients. 

The product was inspired by Hassoun's youth in Lebanon where his grandmother made him and his siblings cactus juice out of the plant's prickly pears. Amongst discovering the fruit in his local supermarket, Hassoun decided to make a batch for himself, Yang, and their friends, Jaanai Babb, Sarwang Shah, and Aakash Dheri. The group, who were all attending pharmacy school at the time, fell in love with the delicious and healthy concoction. In February 2021, they officially launched Pricklee and employed a guerilla marketing tactic of dressing in cactus costumes and allowing strangers to try out the drink. Not long after launching, a "Shark Tank" casting agent reached out, which stunned the team initially. Nevertheless, they took on the challenge, with only Yang and Hassoun appearing to represent Pricklee on Season 13 of the series.

Kun Yang and Mohammed Hassoun are seeking $200,000 for a 5% equity stake in Pricklee. Emma Grede wants to know how much competition is out there. The category is relatively new, but the Pricklee team believe that they're unique enough to stand out from the crowd. 

After Hassoun explains the company's origins, Kevin O'Leary brings up the difficulty that beverage businesses often have in securing distribution and customer acquisition. In the previous month, the company made $55,000 and are projecting $70,000 for the current month. The product is currently available at a handful of Northeast locations. Each unit costs $1 to produce, but the team have plans to bring it down to $0.65 once they scale, and prices range from $1.67 to $3.49 depending on where it is sold. Mark Cuban believes that coconut water is healthier until Yang informs him of the advantageous ingredients in Pricklee. The team want cactus to become the new coconut, which Cuban doesn't think is displayed well enough through their branding. 

He goes out, as does Lori Greiner, who feels that it's too early for her to invest. Grede has similar concerns as Cuban, believing the company could do better at delivering its message. Kevin O'Leary, despite hating beverage deals, enjoys the product enough to make a staunch offer of $200,000 for 20%. The guys don't see it as a feasible move and counter with the original deal, but with the $200,000 as a line of credit, which O'Leary doesn't take. Barbara Corcoan argues with him about his deal-making strategies and, despite having her own negative experiences in the beverage industry, saves the day by accepting the line of credit offer.

Like most companies that appear on "Shark Tank," Pricklee saw a surge of new sales and visitors to its website in the aftermath of its episode, which aired on May 6, 2022. Following their time on the show, the team got to addressing the sharks' concerns, particularly those of Mark Cuban and Emma Grede, who felt that the company wasn't doing enough to advertise the health and sustainability benefits of the drink. They worked extensively on emphasizing these aspects while rebranding, which they felt attracted more eyes to the company as a result.

The deal with Barbara Corcoran successfully closed. Since then, she's remained a constant presence and a huge help overall. "We still talk to the team very regularly," co-founder Kun Yang said in an interview with Tasting Table. "She has a great team that really supports her and her brands ... they support us however they can." 

In promoting the brand further, Pricklee went on to partner with numerous organizations and events, including the Irvine Valley College women's basketball team, the New Jersey's National Alliance on Mental Illness, and the BRIC Celebrate Brooklyn Festival. A major development occurred for Pricklee earlier this year when the product became available at Sprouts Farmers Markets across 23 states.

If reading this has you feeling parched, have no fear, as there are many ways of obtaining a can of Pricklee. On its official website, visitors can find Pricklee's available flavors — the original prickly pear, mango and ginger, and strawberry and hibiscus — available as a 12 pack. A variety pack is also available containing all three options. Users can chose to either go for a one-time purchase for $34.95 or can opt in for the company's subscription service, where customers receive new deliveries every two weeks and save 15% on orders. 

Alongside other online storefronts such as Amazon, Pricklee has also expanded its reach to various retailers. There's the aforementioned Sprouts Farmers Market that the brand became available in earlier this year, but it can also be found in Stop & Shops, Gopuff, Alltown Fresh, and more, all of which can be found using the website's store locator. 

This reach has extended to Pricklee's social media as well. Between its Instagram, Facebook, and TikTok accounts, Pricklee has amassed well over 56,000 followers. With its vibrant colors, array of cactus themed cartoon characters, and an overall fun-loving atmosphere, Pricklee's social media content reflects the company's push towards celebrating the cactus and all its benefits. Annual revenue for 2023 is estimated to be at $1.5 million alongside a net worth of $3 million.

Pricklee has come a long way since being a drink enjoyed by a group of college friends. Co-founder Kun Yang recently shared on LinkedIn that Pricklee has officially sold 1 million cans, which is certainly no small feat. In the post, Yang expressed his gratitude for those who have helped the brand become what it is today, while also excitedly stating, "And guess what? We're only just getting started!" 

Speaking with Joe Pardo in 2022, Yang described a bright future for Pricklee, in large part thanks to its boosted exposure thanks to "Shark Tank" and other opportunities. "Our growth to understanding what we are and the timing of 'Shark Tank,' the timing of this brand refresh ... it's going to be really exciting," Yang shared. Along with seeing new opportunities for retail growth and gaining new customers, Yang believes that Pricklee's unique angle and story will inspire some big changes. "There might be a couple of really interesting innovations that we want to throw out over the course of this year and into next year," he stated. "We have a pretty ambitious goal of where we want to build this company to and what this company is about and there'll be a couple of really interesting surprises as we start to look at the next 12 to 18 months." 

With plans to hit at least $4 million in sales by 2024, Pricklee is thinking outside the box for ways to get the word out. The team are looking to increase their direct-to-consumer reach by pushing harder on their subscription service, while also experimenting with different kinds of marketing strategies that will continue to emphasize the brand's fun, happy-go-lucky image.