As per the latest Shark Tank Update, Umaro has a net worth of $70 Million USD. Umaro generates $5 million in revenue annually.
Mark Cuban invested $1 million in Umaro Bacon for a 7% stake in the company. Today Umaro is one of the most successful companies from Shark Tank joining the likes of Cupbop and Squatty Potty.
In addition to Cuban’s investment, Umaro raised over $12 million more from outside funding. As of today, Umaro has its presence in 16 states in the USA.
Umaro Net Worth
| Net Worth | $70 Million |
| Sales Revenue | $6 Million |
| Profit/Loss | -$390,000 |
| Lifetime Sales | $8 Million |
| Founder | Beth Zotter |
| Employees | 15 |
| Investor | Mark Cuban |
Sales Revenues
When Umaro was pitched on Shark Tank, they are just in the prototype stage and haven’t made any sales yet. However, Within 12 months of appearing on Shark Tank, they expanded into 20 states and over 100 restaurants.
Umaro generates $390k in revenue each month. However, due to heavy investments in R&D, the company is still losing money every year. Umaro will reach profitability once it touches $12 million in annual revenue, which is expected to happen in 10 more months.
Expansion
As of today, Umaro Bacon is sold in 150+ restaurants. The company has still not started its retail sales and is in talks with major brands like Walmart. With the help of Mark Cuban, Umaro will be available in over 400 Walmart stores across the USA.
Conflicts with Mark Cuban
After the episode was aired on shark tank, Mark Cuban invested $1 Million in Umaro. However, creative differences started arising between the founders and Mark.
With respect to price and taste, Mark insisted that the company should be patient and make the product taste much better. He also asked for the price of the product to be reduced.
The founders pushed back the idea and there have been disagreements for many weeks. This has led to Mark Cuban almost dropping out of the deal and leaving the company.
However, the founders finally listened to Mark and followed his advice, thereby avoiding a PR catastrophe.