Numilk net worth: Shark Tank US Contestant
NuMilk is a machine that is made from milk nutrition ingredients that come from plants. It is famous for using pouches of pure plant-based powdered milk. The machine helps to get milk instead of coffee. This new business is still getting its feet under it, but it’s becoming increasingly popular. It has 1,300 likes on Facebook and almost 8,000 followers on Instagram.
Numilk net worth: What Does NuMilk Do?
NuMilk can make almond milk from just three things: almonds, purified water, and maple syrup. This machine is available in two sizes: Numilk Home and Numilk Pro. They weigh 15 lbs and 30 lbs, respectively. Now, they’ve made the 32oz NUMILKS Pouch available. With these pouches, you can make different kinds of milk and shakes. This machine doesn’t need dry ingredients because of the built pockets.
There are an array of options within the machine like:
- Almond Original
- Almond Unsweetened
- Oat Original
- Cashew Unsweetened
- Black Sesame
- Chocolate Oat
- Matcha Latte
- Golden milk
- Moonmilk, and many more.
Also, this machine is easy to clean. To clean the pouch chamber, all you need is a clean cloth. It’s straightforward to use. If this machine is hooked up to a water line, carrying a bottle of water with you is unnecessary. All you have to do is choose your favorite Numilk pouch and put it on the machine. After that, press the start button, and your fresh milk will be ready. Numilk bags cost between $3.20 and $4.80. Numilk Home costs $249, and Numilk Pro costs $699.
Numilk net worth: About The Founding Members
Ari Tolwin and Joe Savino are from the US state of New York. As kids, they both loved being their boss. Joe, on the one hand, completed his BBA from the Lubin School of Business. On the other hand, Ari has an MBA from Duke University. They’ve both worked in the beverage business for a long time. In 2013, Tolwin helped start Happy Tree Maple Water, which sells tree water and becomes its CEO. In the same year, Savino started Harvest Beverage Group with another person. But after about five years, the two decided to leave their respective jobs. They worked together to create a new business to make milk from plants.
Setting Up The Company
Joe came up with the idea for the Numilk machine. In essence, the device could make fresh almond milk whenever needed. There are only two things you need: almonds and clean waterThe retail price of the Numilk machine is $299. When the company started in 2018, investors gave it $12 million to help build the idea. They spent $2 million and only made $40,000. They made approx $320,000 in 2019, but they lost $3,000,000. In 2020, the business earned $400,000. However, it lost $2,000,000.
Showing Up On Shark Tank
Tolwin and Savino needed help getting their business up and running. So, they planned to ask wealthy investors for help on Shark Tank. In 2021, they made their pitch, offering 5% ownership for $1 million. Some Sharks thought that giving their business a value of $20 million was a bit high, aside from their first design, which was about the same size as two refrigerators. They also came out with Numilk Home, a new version that could be taken anywhere. It cost $199. Mark Cuban, the richest Shark and vegetarian saw great potential in this. So, Cuban offered $2 million and said that $1 million would be cash and that Cuban would own 7% of the company. Joe and Ari were happy to agree that the other part of the deal was a loan with 3% interest.
After Shark Tank
After their Shark Tank episode, Numilk started to talk with Whole Foods. During this time, they also created a Kickstarter campaign, which 888 backers helped them fund with more than $222,000. There are now 65 stores in the US that sell their machines. On their website, you can also preorder the version of their product that you can use at home. Also, they want to make more deals with grocery stores and coffee shops. Numilk is going differently than planned and has had trouble with its supply chain. Customers on Kickstarter are getting antsy because the comments section is full of people asking for money back. The company is Numilk’s net worth $55 million right now.
FAQs
What is the total value of Numilk?
Based on some research, we estimate that Numilk’s net worth is around $55 million. This is the size of a market valued at a billion dollars. The level of competition is high.
Who are Numilk’s current owners?
Angel investors and co-founders Ari Tolwin and Joe Savino own the company.
How about worldwide shipping? Does Numilk offer that?
Yes. Numilk will deliver their Home dispenser to Canada, Kosovo, and the Canary Islands for preorders. The customer is responsible for paying any applicable import fees or taxes.
How does Numilk handle shipping?
Preordering now will get you first in line when the products officially arrived in 2022.
