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EveryTable: Your Convenient Solution for Prepared Meals and Online Orders
EveryTable, as featured in episode 21 of Season 9 of Shark Tank, is a food service company that offers a variety of prepared meals for convenient pick-up or online ordering.
EveryTable is a convenient solution for those looking to enjoy delicious and nutritious meals without the hassle of cooking.
It offers a wide variety of prepared meals that can be easily picked up or ordered online, catering to individuals with busy lifestyles or those seeking a convenient dining option.
They focus on providing delicious and nutritious meals at affordable prices, making it easier for customers to enjoy high-quality food without breaking the bank.
EveryTable prides itself on providing fresh and flavorful dishes that cater to different dietary preferences and needs. Whether you’re a busy professional, a student on-the-go, or simply looking for a quick and tasty meal, EveryTable has something for everyone.
EveryTable is known for its mission-driven approach to business. They strive to address food insecurity in underserved communities by implementing a “one for one” model, where for every meal purchased, a meal is provided to someone in need.
With a focus on quality ingredients and culinary expertise, EveryTable ensures that each meal is not only convenient but also satisfying and nourishing.
From hearty salads to comforting soups, savory entrees, and sweet treats, EveryTable’s menu is designed to delight the taste buds and provide a satisfying dining experience.
Whether you’re looking for a quick meal on the go or want to support a company with a strong social mission, EveryTable is a fantastic choice for satisfying your hunger while also giving back to those in need.
Sam Polk and David Foster founded Everytable with a noble mission – to tackle the issue of food deserts prevalent in various communities across the United States.
Recognizing the lack of access to fresh, healthy, and affordable food in these areas, they aimed to revolutionize the food industry by providing nutritious meals to all.
They designed a business model that prioritized community impact by leveraging their backgrounds in finance and volunteering.
Everytable’s innovative approach involved central kitchens preparing meals for multiple locations, reducing operational costs significantly.
By adjusting meal prices based on the income levels of different neighborhoods, they ensured affordability for all while maintaining sustainability.
Moreover, their diverse menu offerings, catering to various cultural preferences and dietary needs, showcased a deep understanding of community requirements.
Everytable embodied a socially conscious business ethos, launching its impactful journey with a vision not only to generate profits but also to uplift society.
Revolutionizing Healthy Food: The Journey of EveryTable on Shark Tank
Sam Polk and David Foster pitched the sharks their healthy food subscription service called EveryTable in a captivating pitch. They sought an investment of $1 million in exchange for a 5% equity in EveryTable.
The chefs shared their inspiring journey with the sharks and described the noble mission behind EveryTable before inviting them to indulge in their delicious meals.
The tasting session was a resounding success, with the sharks clearly impressed by the quality of the cuisine.
Sam and David elaborated on the unique pricing strategy of EveryTable, where meal costs vary depending on the location.
They highlighted their focus on providing affordable and healthy food options in areas known as food deserts, where access to such choices is limited.
The EveryTable approach allows the company to compete with fast food chains but promotes healthier alternatives at the same time. They adjust their prices accordingly to cater to the local demographic in more affluent neighborhoods.
The founders showcased the diverse menu offerings of EveryTable, crafted by skilled chefs. EveryTable offers tantalizing dishes like Jamaican Jerk Chicken and Vegan Yucatán Chili, as well as healthier options like Kale Caesar Salad.
Customers can choose gluten-free or vegan options as well as other menu items according to their dietary restrictions.
The EveryTable chain operates five restaurants throughout Los Angeles with microwaves for hot meals or the option for customers to enjoy their meals at home.
With ambitious plans for expansion, the entrepreneurs sought investment from the sharks to scale their businesses to new heights.
During the negotiation, guest shark Rohan Oza raised concerns about EveryTable’s valuation despite their previous success in securing funding. He highlighted the financial challenges the company faced, with monthly expenses surpassing income.
The disparity between production costs per meal and the selling prices in different communities was also a point of discussion.
Despite initial hesitations from some sharks, Rohan eventually offered $1 million for a 10% equity stake, which Sam and David accepted after some negotiation, sealing the deal for the growth of EveryTable.
The Growth Story of EveryTable After Shark Tank
After EveryTable’s appearance on Shark Tank, Polk and Foster had already secured substantial funding, including $2.1 million in seed funding, $2.1 million in a bridge round, and an additional $5 million in Series A funding.
The outcome of the deal with Oza and the Everytable entrepreneurs post-show remains unclear. However, what is definite is Polk and Foster’s pursuit of further investment opportunities following their “Shark Tank” episode.
The duo launched a crowdfunding campaign on Republic in 2018 to raise $1.07 million at a valuation cap of $30 million. Everytable was able to raise over $290,000 from 849 investors, which tripled their initial goal.
The entrepreneurs subsequently secured $2.5 million from The Annenberg Foundation and The California Wellness Foundation. Later, in November 2020, Everytable received an additional $16 million in Series B funding, further solidifying their financial backing.
Beyond the realm of the Sharks, Everytable attracted notable investors such as Kimbal Musk, Gwyneth Paltrow, Maria Shriver, and the W.K. Kellogg Foundation. These investments aimed to support Everytable in its mission to make affordable, nutritious food accessible to a wider audience.
Since its debut on “Shark Tank,” Everytable has experienced exponential growth. The entrepreneurs inaugurated their first brick-and-mortar store in South L.A.’s food desert area in 2016.
Everytable expanded rapidly, opening five locations in upscale areas like Santa Monica and downtown Los Angeles.
Polk expressed their belief in healthy food as a fundamental human right, driving Everytable’s expansion beyond Los Angeles to various regions across the U.S.
Presently, Everytable boasts 55 retail locations in Southern California, with a significant presence in Orange County, San Diego, Long Beach, and New York City.
Everytable caters to diverse consumer needs with ready-to-eat subscription meals priced between six and eight dollars. You can order meals for yourself from the EveryTable website or download their app from Playstore or Appstore.
Additionally, the entrepreneurs curate catering menus and supply grab-and-go meals to offices, SmartFridges, and vending machines that are operational around the clock.
EveryTable’s 2022 impact report highlights significant milestones, including the installation of 60 SmartFridges and the opening of 38 stores nationwide.
Notably, 36% of these locations are situated in food deserts or low-income areas, demonstrating Everytable’s commitment to accessibility and social impact.
In a bid to expand its reach and social contribution, Everytable forged 33 strategic partnerships in 2022, with 80% targeting food-insecure demographics such as seniors, college students, and homeless individuals.
Everytable’s partnerships with the City of Los Angeles and non-profit organizations demonstrate its commitment to providing affordable meals to those in need.
Polk and Foster intend to amplify Everytable’s social impact while continuing their retail expansion in the future.
Everytable announced a $25 million Series C-2 preferred stock financing in June 2023 to facilitate its growth trajectory. The fresh capital injection will fund the opening of 25 new retail locations in Southern California, New York City, and the Bay Area.
The Polk and Foster team has sold 17 million meals since its inception and has created a number of impactful initiatives.
Polk and Foster are poised to continue advancing Everytable’s mission for a long time to come. EveryTable is still in business with an estimated net worth of $50 million.
