Loved their aura (bora) #AuraBora #SharkTank /HsSbj8Dm2S You gotta have a product that catches the eye of the consumer. Robert Herjavec initially offered to invest $150,000 for 12% equity, however, through negotiations they agree to partner with Robert for $200,000 in exchange for 15% equity in Aura Bora.
Kevin offered to invest $150,000 in exchange for a $0.05 royalty per can until he receives back $300,000, at which time the royalty will go away and a 5% equity share will remain. Because the beverage market is so difficult to break into, most of the Sharks were not interested in investing in Aura Bora, however, both Kevin O’Leary and Robert Herjavec were willing to take the risk on the Voges. They are on track to generate up to $3.5 million in sales by the end of 2021 and expect to be profitable by years end as well. The Sharks are as impressed by the flavors of Aura Bora as they are their sales data. This is significantly lower than the initial 3 million valuation stated by the company founders in their pitch. Aura Bora does have additional investors and because Maddie and Paul own only 74% of the business, they are cautious as to how much equity they are willing to give up. After securing a deal with Shark Robert Herjavec, Aura Bora is currently worth 1.33 million. Since the retail market has changed entirely, the Voges will need help to set themselves apart in an already saturated sparkling water market. Pre-pandemic, Paul was able to go into stores and offer samples and create buzz around their product.
While their product is unique and visually appealing, they will need the influence of a Shark to help them expand beyond the shelf space in their initial 488 retail store locations. Will these herbal sparkling waters pop with the Sharks? #SharkTank
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