In 2019, Bohana made an appearance on Shark Tank. The company pitched their product, an Indian water lily seeds snack, and secured a deal with Mark Cuban and Barbara Corcoran. But what happened after the show? Did Bohana achieve success? In this article, we will answer common questions about Bohana’s experience after Shark Tank. So let’s dive right into it!
Story Behind Bohana and Its Founder
Nadine Habayeb, the founder of Bohana, was inspired to create Bohana when the co-founder of the company and her friend, Priyal Bhartiya returned back from India and brought her a traditional ancient snack, a popped water lily seeds!
Since then, this snack became one of Nadine’s favorites and was the inspiration behind Bohana.
These can be enjoyed the same way popcorn is, all you need is to put them over the stove and add some seasoning to taste!
But what makes Bohana different from popcorn, is that it is made with Ancient Indian recipes, which makes them an indulgent snack that is also healthy and nutritious. In fact, this snack has 60% less fat, 20% fewer calories, and 50% more protein than traditional popcorn.
Nadine enjoyed these puffs so much that she decided to share them with the world, teaming up with Priyal to form Bohana. After some time of testing and perfecting, they were ready to launch in 2017.
The puffs are made of water lilies carefully harvested at one of the farms in Bihar. And another thing that makes these different from other snacks, is that they mainly offer savory flavors that are much healthier than the sweet ones.
And the explanation for such fast growth is very simple, Priyal has experience bringing products to mass retail and Nadine is an expert in marketing. Both of them combined with the unique product, Bohana was able to make a big statement in the snack world.
They even managed to get $ 20,000 from Pepsi’s Nutrition Greenhouse North American Program and have already gotten the interest of some investors.
The duo wanted to expand nationally, but to achieve that goal, they decided to appear on Shark Tank. [1] [2]
What Happened at Shark Tank
In 2019, Nadine took their product to the popular show Shark Tank. They went in with big dreams of expanding Bohana nationally and growing their business to new heights.
She proposed a deal of $ 200,000 for 10% equity. Then, they proceed to explain what their product is, what it stands for, and how it’s different from conventional snacks.
Then she proceeded to give out some samples for the sharks. The sharks liked the taste a lot and were impressed with both the product and the women’s enthusiasm. Lori however pointed out that she wished these snacks had more fiber.
Other sharks have expressed their worries about Nadine and her team managing to introduce a niche product to the market. However, Nadine assured them that she sells out whenever she does a sale.
After that, the sharks began to negotiate. Barbara was the first one to make an offer of $ 200,000 for 30% but she was soon outbid by Kevin who offered the same amount for 9% interest for 3 years and 8% equity. He decided to counter Barbara after she was annoyed about him suggesting Nadine take his deal.
Nadine decided to go with a lower equity offering and so she accepted the deal from Kevin. She also would get some assistance with distribution, branding, and marketing from him as part of the agreement. [2]
Is Bohana Still in Business?
After they finished recording the show, there was a lot of excitement surrounding Bohana and its potential to expand nationally. The day the episode aired was the day the US went on a long long lockdown because of the covid-19 pandemic.
Still, the product had managed to get a bit of a boost after appearing on the show. The team was impressed by the number of orders that flowed in, in the days following their episode.
And it seems like the boost didn’t fade as Bohana is still in business and growing. In the year 2020, they got a 500% increase in sales.
Unfortunately, we were unable to check whether or not they have managed to close their deal with Kevin. But it seems like their other partnerships are still going strong and that alone is proof of the success story that Bohana has been able to create. However the team does have pictures of Kevin in a chef’s costume holding bags of Bohana, so we can assume that the deal did go through.
They also took part in QVC where they managed to sell over 4,000 packs of product in under 6 minutes, and that was just the beginning.
Bohana has managed to get a spot in many more retailers and select groceries. You can also order their products online from the official website and Amazon. There they have thousands of reviews under most of their products and an overall rating of 4,3/4.7. That alone is a testament to how successful Bohana has become after appearing on Shark Tank. Just keep in mind that they’re often out of stock because they are still a small business and have to keep up with the demand.
The ladies are also selling their own chain of merch and are considering expanding even further. As for the prices, they are selling the Bohana online in batches of six packs that cost about $ 30.
Plus, if you’re vegan, they have a vegan variety too which contains no animal-based ingredients at all.
As far as the sales go, in the year 2022, the Bohana team managed to achieve at least $ 4 million in sales. That’s a huge increase from the initial amount they reported at the time of the show.
So it seems like Bohana is doing incredibly well for itself. The team was able to take advantage of their exposure on Shark Tank and turn it into something that can sustain their business long-term. Thanks to their hard work, Bohana will most likely be around for years to come with more delicious products! [1] [2] [3] [4] [5] [6]
Bohana Net Worth
After appearing on Shark Tank, Bohana quickly made a name for itself in the market. The company has managed to get its products in select retailers and also offers them on its own online store.
That being said, it is difficult to say exactly how much the company’s net worth is. But by taking a look at their past earnings, we can make an educated guess.
Of course, this is just a rough estimate and may not reflect the true value of Bohana due to certain variables like investments. [7]
FAQ
What is Bohana?
Bohana is a company that produces popped water lily seeds, a high-fiber, and vegan-friendly snack. The company was founded to provide healthy snacks with non-GMO and organic ingredients that are free of additives, preservatives, sugar, and artificial flavoring. Bohana’s mission is to create products that are delicious, and good for you and the environment.
Popped water lily seeds are a famous Indian snack, made with Indian lilies and herbs. The seeds are hulled, roasted, and then popped to give the snack a crunchy texture. Bohana’s products are made with traditional recipes and freshly sourced ingredients, keeping in mind that taste comes first. They are very similar to the popcorn we know and love in the Western world, but with a unique Indian twist.
What happened to Bohana after Shark Tank?
After appearing on Shark Tank, Bohana had hugely successful sales – with over a 500% boost in profits. As a result of the show, Bohana was able to expand its distribution channels by entering more retail places nationwide. They also began to invest in marketing campaigns, which helped increase the visibility of the brand and drove more sales.
They are still in business in 2023 and their annual sales seem to be growing steadily. In addition to their retail sales, Bohana has kept selling their products on Amazon and other online stores, which is a great way for them to reach larger audiences and customers who may not have heard of them before the show.
Is Bohana still in business?
Yes, the puffed water lotus seeds snack from Nadine and Priyal is still in business. After appearing on Shark Tank, Bohana was able to secure an investment from Kevin O’Leary which has allowed the company to grow significantly. Bohana has since become a national brand with its products being available at select retailers and online.
As of now, the annual sales had reached a comfortable $ 4 million, thanks to the increased demand following the appearance of Bohana on Shark Tank. The company is also estimated to be worth over $ 1 million, due to the company’s growth since appearing on the show.
Did Shark Tank invest in Bohana?
Yes, Bohana was successful in landing an investment from Kevin O’Leary on Shark Tank. After intense negotiations, O’Leary provided a $ 200K investment in exchange for a 9% interest for 3 years and 8% equity in the business.
Since then, Bohana has continued to grow and expand its presence both online and in retail stores across the United States. In addition to their website and Amazon store, they have achieved major sales success as they gained a 500% profit boost after the show aired.
Bohana also was featured in the QVC show and entered selected retail stores across the US, which helped to further solidify its presence in the snack industry.
Who owns Bohana?
This is basically a healthier alternative to popcorn that offers a similar airy, crunchy texture. After appearing on Shark Tank, Bohana received an offer from Kevin O’Leary in exchange for 8% equity in the company and 9% interest for 3 years. Habayeb and Bhartiya made a deal with him, which opened new doors to their business.
Useful Video: Bohana 2020 Update
Conclusion
To conclude, it seems like Bohana was able to take advantage of the opportunity presented by Shark Tank and create a success story for themselves. They have managed to expand their business, get a spot in retail, get partnerships with celebrities, and develop a loyal following on social media.
Nadine Habayeb and Priyal Bhartiya definitely succeeded in their attempt to bring puffed water lily seed snacks to the public. As a result, Bohana has become one of the most popular snacks amongst health-conscious consumers who are looking for vegan and gluten-free alternatives.
By leveraging their appearance on Shark Tank, they have been able to gain brand recognition and create a loyal customer base that will continue to expand in the future. By having Kevin O’Leary as an investor, they have been able to get the financial support needed to take their business to the next level.
At the time of writing this article, their annual sales managed to reach the $ 4 million mark and they don’t seem to be stopping anytime soon. With innovative flavors, sustainable practices, and continued support they got it in the bag!
Overall, you can say that Bohana has had an amazing journey since its appearance on Shark Tank. The couple has continually worked on growing their business and expanding their reach. We wish them all the best as they continue to grow and hope that more people get to know about this amazing product. We can’t wait to see what’s in store for Bohana!
References:
- https://www.sharktankblog.com/popped-water-lily-seeds-by-bohana/
- https://www.sharktankblog.com/business/bohana/
- https://bohanalife.com/collections/shop-savory
- https://www.amazon.com/Variety-Superfood-Natural-Non-GMO-Healthy/dp/B079RM289K?ref_=ast_sto_dp
- https://www.instagram.com/bohanalife/
- https://www.facebook.com/thebohanalife/
- https://geeksaroundglobe.com/bohana-net-worth-update-before-after-shark-tank/