Wink Frozen Desserts
NO DEAL
EPISODE SUMMARY
🕓 Air Date: November 6, 2015
Asking For:
$300,000 for 15%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
Wink Frozen Desserts presents a revolutionary dairy-free, sugar-free frozen treat that caters to health-conscious consumers, vegans, and those with dietary restrictions. The product offers a guilt-free indulgence at only 100 calories for the entire pint.
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Background Story
The founders, Gabe Wolff and Ani Blinova, hail from Stamford, Connecticut. Gabe, driven by a personal journey of health struggles, including diabetes, obesity, celiac disease, and dairy intolerance, embarked on a mission to create a healthier frozen dessert. Ani joined forces with Gabe to bring Wink Frozen Desserts to life, infusing their passion for health-conscious living into every pint. Seeking to scale their impact, they entered the Shark Tank seeking $300,000 for 15% equity.
The Product
Wink Frozen Desserts offers a diverse range of flavors, including Cake Batter, Cocoa Dough, Cinnamon Bun, Iced Latte, Choco-Mint, and Vanilla Bean. The base is crafted from pea protein, ensuring a vegetable protein-based, non-GMO product.
Organic stevia and monk fruit sweeten the desserts, providing a customizable treat that can be enjoyed on its own or used as a mixer. With availability online and in 30 Whole Foods stores in the Northeast, Wink targets health-conscious consumers and those with specific dietary restrictions.
How It Went
The company’s position before Shark Tank
Despite facing challenges, including a co-packer issue resulting in a $60,000 loss due to a freezer breakdown, Wink has generated $534,000 in sales over three years. The current year projects a promising revenue of $650,000, with a gross profit of $87,000. Wink has successfully secured partnerships with major retailers such as Whole Foods and continues to expand its online presence. The founders express confidence in turning a profit in the upcoming year, driven by new retail partnerships.
The Negotiations:
The Sharks, though acknowledging the founders’ dedication, raised concerns about the taste and market positioning of Wink. Kevin O’Leary, in his characteristic straightforward manner, stated it tasted like “taste-free.” Mark Cuban and Lori Greiner empathized with the founders’ story but decided not to invest due to taste concerns and a potentially limited market. Despite the Sharks’ hesitations, Gabe and Ani left the Tank determined to continue refining and expanding their product, undeterred by the lack of a deal.
