Nootrobox Chewable Coffee & Supplements
NO DEAL
EPISODE SUMMARY
đź•“ Air Date: December 2, 2016
Asking For:
$2,000,000 for 5%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Nootrobox offers Go Cubes Chewable Coffee, a re-engineered, precisely dosed coffee for enhanced performance, targeting the growing market of brain-enhancing consumables and supplements.
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Background Story
Nootrobox, headquartered in the innovation hub of San Francisco, California, was founded in 2014 by Geoffrey Woo and Michael Brandt, both accomplished computer scientists. The company emerged as a convergence of their backgrounds in technology, bio-hacking, and a shared passion for optimizing human performance. Geoffrey Woo and Michael Brandt lead a diverse team of bio-hackers, researchers, and technologists who collectively explore ways to enhance physical and mental function. Drawing inspiration from Silicon Valley, a hotbed of creativity and ambition, the founders embarked on a journey to develop products that could push the boundaries of productivity.
The inception of Go Cubes Chewable Coffee, Nootrobox’s flagship product, was a result of their innovative approach to bio-hacking. The founders recognized the ubiquitous role of coffee in people’s lives, particularly in Silicon Valley, where individuals strive for heightened productivity. They set out to re-engineer the classic cup of coffee into a more effective and convenient form, resulting in chewable cubes that are precisely dosed with caffeine and nootropics. The product was designed to cater to the demands of a market seeking brain-enhancing consumables and supplements.
Go Cubes Chewable Coffee offers a solution that goes beyond traditional coffee, providing a controlled and balanced energy boost. The founders’ commitment to experimentation and understanding the human body as a complex but comprehensible system drove the development of a product meant to redefine the future of coffee consumption. This innovative blend of technology, bio-hacking, and consumer goods positioned Nootrobox as a unique player in the market, showcasing the founders’ vision to revolutionize daily rituals for improved cognitive performance.
The Product
Go Cubes Chewable Coffee, the flagship product from Nootrobox, is a groundbreaking approach to enhancing cognitive performance through a re-engineered coffee experience. These chewable cubes are meticulously dosed with 50 milligrams of caffeine and additional nootropics, providing a controlled and balanced energy boost comparable to half a cup of coffee.
Available in three enticing flavors—latte, drip coffee, and mocha—each cube serves as a portable and convenient alternative to traditional coffee. The precisely measured caffeine content ensures users know exactly what they are getting, promoting a more consistent and steady energy level. With 6 grams of sugar per cube, Go Cubes aim to offer a flavorful yet controlled coffee experience.
The product caters to individuals seeking improved productivity and mental clarity, aligning with the growing market of brain-enhancing consumables and supplements. Designed to be easily carried in pockets, Go Cubes provide an on-the-go solution for those with busy lifestyles.For consumers interested in purchasing Go Cubes Chewable Coffee, the product was likely available through the company’s website and possibly other retail channels.
How It Went
The company’s position before Shark Tank
Nootrobox showcased a mix of promising indicators and challenges in their performance. Founded in 2014, the company, headquartered in San Francisco, had experienced notable growth. The founders, Geoffrey Woo and Michael Brandt, emphasized their team’s expertise, including four MB/PhDs, highlighting the company’s commitment to scientific innovation. Nootrobox reported initial sales of $55,000, but their year-to-date revenue was nearing $1 million, reflecting a substantial increase.
The company boasted a 17% month-over-month revenue growth, indicative of a positive trajectory. However, concerns were raised by the Sharks about the substantial valuation of $40 million, especially given the limited sales history. The pitch did not provide details about specific partners or wholesalers. However, the founders positioned their product, Go Cubes Chewable Coffee, in the rapidly growing market of brain-enhancing consumables and supplements, suggesting a potentially wide consumer base.
The founders mentioned seeking a $2 million investment for a 5% equity stake, implying a high valuation and possibly the need for additional funding to support their growth plans. Despite the innovative nature of the product and the company’s growth, the lack of clarity on financial details may have contributed to the Sharks’ hesitation in making an investment.
The Negotiations:
The negotiations for Nootrobox’s Go Cubes Chewable Coffee were marked by skepticism from the Sharks, primarily due to the founders’ ambitious $40 million valuation. Kevin O’Leary expressed concerns about the unprecedented valuation, stating it to be the highest ever seen on “Shark Tank.” Despite Nootrobox reporting significant year-to-date revenue nearing $1 million and a 17% month-over-month growth, the Sharks found it challenging to reconcile the valuation with the company’s sales history.
As the pitch unfolded, the founders, Geoffrey Woo and Michael Brandt, faced questions about the uniqueness of their product and the justification for the high valuation. Several Sharks voiced worries about the potential long-term consequences of the nootropics-laden product. Laurie Greiner pointed out the need for a sales-oriented representative to communicate the vision effectively. Ultimately, none of the Sharks were willing to invest at the proposed valuation. Kevin O’Leary and Mark Cuban both opted out early in the negotiation, expressing their discomfort with the valuation and potential long-term effects of the product.
The other Sharks followed suit, with Barbara Corcoran emphasizing the need for better communication and justifications for the valuation. The negotiation ended without a deal, leaving Nootrobox without the desired $2 million investment. The founders, however, maintained their confidence in the product and its potential for future success. The Sharks’ hesitation underscored the challenges of pricing and communication in the highly competitive market of bio-hacking and innovative consumables.
