As of 2024, Umaro is a bacon company featured on Shark Tank with a net worth of $70 million, generating $7 million in revenue annually. Mark Cuban invested $1 million for a 7% stake in the company, which also raised over $12 million from outside funding. Umaro is now present in 16 states across the USA. Umaro Shark Tank Net Worth, Salary, its Founder, and Other details as of 2024. Also, check Bitsbox Shark Tank Net Worth.
Umaro Shark Tank Net Worth
Umaro’s net worth is estimated to be around $70 million in 2024. The company generates $7 million in revenue annually.
What is Umaro Bacon, and who founded it?
Umaro Foods, a food technology startup based in Berkeley, CA, has created a vegan bacon alternative called Umaro bacon. Made from red seaweed protein, it imitates the taste and texture of traditional pork bacon while remaining 100% plant-based. The product was launched in 2019 as the company’s first food offering.
Umaro Bacon is a new sustainable protein source made from purified seaweed extract. It’s available in select restaurants, including Sorrel in San Francisco, Egg Shop in New York, and D’Andrews Bakery in Nashville.
Umaro bacon is a vegan alternative to pork bacon, with lower fat and cholesterol. It’s perfect for meatless sandwiches or vegan breakfasts and can be bought in bulk from WebstaurantStore.
Umaro Foods, founded by Beth Zotter and Amanda Stiles, received a $1 million investment from Mark Cuban after appearing on Shark Tank. The company’s co-founders provide sustainable menu options that maintain flavor and texture. Must Read Ootbox Shark Tank Net Worth.
Umaro Shark Tank Pitch
Umaro pitched to Shark Tank for $500k in exchange for a 2% stake in the company. Robert declined due to disliking the product, while Kevin offered an investment of $500k for an 8% share.
Mark Cuban and Lori Greiner make investment offers on Shark Tank. Mark offers $1 million for an 8% stake, while Lori asks for a 4% stake in exchange for $500,000.
The Founders offer Mark Cuban a 7% stake for $1 million, and he accepts. The deal goes through after three months of due diligence.
Umaro appeared on Shark Tank in the prototype stage and had not made any sales yet. However, within a year of their appearance, they expanded into 20 states and over 110 restaurants.
Umaro earns $390k monthly but is still losing money due to investments in R&D. It will become profitable once it reaches an annual revenue of $12 million, expected in 10 months.
Umaro Bacon is currently sold in over 150 restaurants and is in talks with Walmart to start retail sales. Through the help of Mark Cuban, Umaro plans to expand its availability to over 400 Walmart stores across the USA.
Problems with Mark Cuban
Mark Cuban invested $1 million in Umaro after their appearance on Shark Tank, but creative differences arose between the founders and Mark regarding product taste and price. Mark insisted that they should focus on improving the product’s taste and reducing its price, causing tension between them.
There were disagreements between the founders of the company and Mark Cuban, almost leading to his dropping out. After weeks of pushing back, the founders eventually listened to Mark’s advice, preventing a potential PR crisis. Must Check CupBop Shark Tank Net Worth.
Is Umaro Bacon Still In Business?
Umaro Bacon is still operating as of 2023, and its seaweed-based bacon can be found in nine US restaurants. They are also working on making it available to the general public.
The company has received more investments from AgFunder and NBA player Chris Paul. Umaro Bacon is currently only accepting commercial orders on its website and may be working on improving its product.
What is the net worth of Umaro?
The net worth of Umaro is $75 Million.
What is Umaro's progress post-Shark Tank?
Umaro, a company that appeared on Shark Tank, has expanded to 150 restaurants and cafes in the US.
What are the sales of Umaro?
Umaro's annual sales are $7 million.
Who is the founder of Umaro Bacon?
Beth Zotter and Amanda Stiles are the Founders of the Umaro Bacon.
Who holds Umaro bacon?
Umaro's founders possess 70% of the company, with Mark Cuban and other investors holding the remaining 30%.