In episode 1120 of Shark Tank, entrepreneurs Kent Yoshimura and Ryan Chen pitch their energy gum and mint startup, Neuro, to the panel of investors known as “the Sharks.”
Green tea caffeine, L-theanine, vitamins B6 and B12, and sugar are all naturally occurring in Neuro Gum and Mints, which are also vegan, gluten-free, aspartame-free, and sugar-free.
The two groups of men became close friends during their time at university. Kent was fighting Muay Thai on the international stage while practicing for the Japanese Judo team, while Ryan was preparing for the Paralympics with the United States team.
The two gentlemen looked for a sugar- and chemical-free energy booster. Although they enjoyed the benefits of nootropic tablets, they hoped that in the future they would be able to satisfy their craving for a mental boost with a piece of gum or a mint.
The men have a patent filed on a nootropic cognition improving a combination that combines caffeine and L-theanine with a variety of vitamins. Peppermint, cinnamon, ginger chai, and honey lemon are all available in “Energy and Focus” and “Calm and Clarity” flavors, respectively.
In 2015, they used Indiegogo to pre-sell their first batch of gum and made $20,571. However, Kickstarter does not permit the usage of any energy supplements other than caffeine, thus they were removed from the platform.
The subscription price for a six-pack of gum with 54 pieces is $18.90, while the regular price is $21. Their $15 million worth is based on 10 million devices sold since launch. They are probably looking for a Shark to assist them to cross the finish line and reaching $100 million in annual revenue.
Who Is the Founder of Neuro?
The primary motivation for creating this item was the need to replace the tasteless sugar-concentrated energy drinks that were previously available in a wide variety of tastes.
Kent Yoshimura and Ryan Chen, the company’s founders, were interested in nootropics. However, the formula had to be encased in a mint or gum.
In this way, the concept of neuro gum was developed. They came up with a plan to create a concoction that included a combination of vitamins and a nootropic substance that boosts mental performance.
Did Neuro Get a Deal on Shark Tank?
The two foreign businesspeople walked confidently into the shark tank, asking for 750,000 at a 5% stake. They shared stories of their lives before meeting each other in college.
Ryan was honest enough to discuss the snowboarding mishap, which ended up being the defining moment of his regret. With the encouragement of his loved ones, he persisted.
They are certain that the company will make $3.5 million in sales in the first eight months of 2019. The purpose of our appearance on the show is to form a partnership with a “shark” who can help us establish our retail presence and formulate our marketing strategy.
Robert is the first to make an offer, throwing down $1,000,000 for a 20% cut. Kevin, who is unhappy with the pricing, comes next and offers $750,000 for 5% plus a 50-cent royalty for each unit until he recoups $1 million.
To counter Robert’s bid, the two increased the valuation to $10 million. So Robert offers a counteroffer of $7 million. Last but not least, they turn down Robert and Kevin’s offer. Sadly, the two were unable to reach an agreement during their time in the tank and left without a contract.
What Happened to Neuro After Shark Tank?
Both Amazon and their own website are selling the wares. Over 6500 outlets now stock their wares, marking a significant expansion of their presence in the retail sector. They’ve made quite a name for themselves because of all the work they’ve done for the neighborhood.
Between 2019 and 2021, revenue went from $1 million to $6 million. The valuation has stayed stable at $15 million since the company’s beginning; future expansion is anticipated.
Neuro Shark Tank Recap
Both Ken and Ryan want to raise $750,000 for a five percent stake in their company. They give some backstory about themselves and how they came to seek energy gum. Ryan describes the snowboarding accident that left him with injuries.
He’ll be bedridden for the rest of his life. Despite the fact that the months following his injury were the darkest of his life, he pulled through with the support of loved ones. His tale has touched the hearts of every one of the Sharks.
Through the first eight months of 2019, the company’s sales have reached $3.5 million. They’re looking for a Shark to advise them on their advertising spending and store expansion plans. They feel they need a “Shark” to assist them to shop effectively.
Robert is worried, but he really likes the boys, so he’s willing to give them a million bucks for a 20% stake.
Kevin refers to the valuation as “stinky poo,” but he offers $750,000 for 5% along with a 50 cent per unit royalty until he recoups $1 million.
The group rebuts the question of whether Robert is willing to accept a valuation of $10 million. After Robert offers a counteroffer of $7 million and they decline, he leaves. After turning to Kevin, they also turn down his offer.
Neuro Shark Tank Update
There is a blog called “Shark Tank” that follows up with entrepreneurs who have been on the TV show of the same name. The company has continued to sell on Amazon and its own website despite not having an agreement in place.
Kent maintains a YouTube page with exercise videos, and the business is still actively involved in the neighborhood. Since the recent violence in Los Angeles over the death of George Floyd, they have been volunteering to paint murals on the walls of empty stores.
There are 6500 retailers carrying their items as of June 2022, including 5000 CVS pharmacies. Six million dollars is made each year.
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