Analysis shows that Cave Shake (now Space Shake) is a dairy-free, carbohydrates-free, gluten-free, coconut milk-based shake. This shake can mostly be used as a snack or as a nutritionally significant meal replacement shake.
Holly Heath and Billie Cavallaro approached the Sharks for a $250,000 investment for 10% equity. While they never got the deal that they wanted, they left with a deal with the new Shark, Charles Barkley.
Their shake comes in four flavors: vanilla, original, coffee, and chocolate. These shakes are ready to drink meaning that no preparation is needed on part of the consumer. The packs are sold to the customer directly through their websites and by retailers. Currently, a pack of six 3.4 ounce shakes will cost you $29.99 as highlighted in the promotional video here.
Best friends Holly Heath and Bille Cavallaro wanted to develop something that would assist in curbing the sweet cravings a person gets whenever they are on paleo or keto diet without having to ruin their diet or being considered a cheat.
They went for this sweet treat since they were ardent keto-paleo dieters. Cavallaro is an athlete who was on the keto diet to assist her with recovery time and minimize delayed onset muscle spasms (DOMS).
On the other hand, Holly utilized the keto-paleo diet to help her minimize inflammation caused by a diet that caused pain from an auto accident that she was in. those are the reasons that made Cave Shake an incredibly personal venture for the two investors.
What Happened To Cave Shake While Pitching At Shark Tank?
Their pitch started well. Nonetheless, when the two investors told the Sharks that although it was carb and sugar-free, it was not calorie-free and every serving was a staggering 480 calories the Sharks laughed.
Cavallaro and Heath managed to convince the Sharks that since the calories are plant-derived, the body remains in keto mode. The two partnered with an incubator, LA Libation, and had been compelled to give up 15% equity.
Kevin O’Leary said that he was never on board with the pair having an incubator partnership that eventually cost them significant royalties and jumped ship. Robert Herjavec said that he did not like the taste and left the negotiations.
On his part, Mark Cuban did not think that the investment would be worth his time and then opted out. Lori Greiner said that she would rather eat her calories and enjoy all sorts of food instead of drinking them in several mouthfuls and jumping ship as well.
But luckily, the episode had a guest Shark, Charles Barkley. He offered the full amount that the pair were asking for but doubled the asking equity. He said that he was not ready to reduce his equity as they had given the incubator 15% already. The trio settled on $250,000 for 20% equity.
Since Shark Tank, the firm has changed its name to Space Shake and lowered the calorie count to 210 calories per serving, and that enabled it to double its sales numbers. So far so good, they seem to be doing well and are active on social media.