Toast-It, the brand that appeared on Season 15, Episode 02 of Shark Tank, is a company that offers a line of ready-to-eat Latin American staples, with its star product being the arep. This traditional South American dish is now available in a convenient frozen format.
The arepas come in three varieties – cassava, chia flaxseed, and original – and are described as thick, tortilla-like patties that are crispy on the outside and fluffy on the inside, capturing the authentic Latin flavor.
Toast-It also offers cassava and cheese bites called Pandebono Bites, which can be quickly prepared in an air fryer or toaster oven for fast snacking.
The company is known for using clean ingredients and ensuring its products are gluten-free, sugar-free, nut-free, and preservative-free, making them suitable for various dietary preferences and restrictions.
Toast-It’s products are already available in leading retailers like Publix, Winn-Dixie, Walmart, and Whole Foods in Southern states, offering accessibility to a broader customer base.
The products’ convenience, authentic Latin flavors, and commitment to clean ingredients make Toast-It a compelling choice for anyone looking to enjoy traditional Latin American cuisine with ease and without compromising on quality.
|Mafe Cabezas and Coco Viete
|Latin American staples that are guilt-free and convenient
|Investment Asking For
|$100,000 for a 5% stake in Toast-It
|$150,000 For a 20% stake in Toast-It
|Season 15, Episode 2
|Toast-It Business Status
|Toast-It Net Worth
What Is Toast-It?
Toast-It is a brand that offers ready-to-toast Latin food staples, such as arepas, inspired by traditional flavors from Latin American cuisine. The founders, who moved to the US from Venezuela, wanted to create products that would bring the taste of home to Latin American hearts and cuisine lovers.
Their products, which include Original, Chia Flaxseed, and Cassava (Yuca) Arepas, are designed to be guilt-free, with a focus on using natural ingredients like Yuca Root and Baked Plantains sourced from Latin America.
The products are also gluten-free, nut-free, preservative-free, and do not contain added sugars. The brand aims to provide an authentic taste of Latin American cuisine while offering convenience, with the products being ready to toast in under 10 minutes.
Toast-It’s mission is to spread the love for Latin American culture and celebrate the traditions that unite people. The brand has received positive customer reviews for its taste, convenience, and versatility.
Who Is The Founder Of Toast-It?
The founders of TOAST-IT are Maria Fernanda Cabezas and Maria Corina Cabezas, two sisters from Venezuela with diverse backgrounds and a shared dream to bring their Venezuelan culinary traditions to the United States.
Maria Fernanda had a career in corporate finance, working for major companies like Pfizer Pharmaceuticals, Citi Bank, and Pepsico. Despite her success in this field, she felt a pull toward entrepreneurship and a desire to share her Venezuelan heritage.
On the other hand, Maria Corina was the first in her family to move to the United States, studying Economics at the University of Miami and earning a master’s degree in Data Science at UC Berkeley.
The idea for TOAST-IT came about as a solution to the sisters’ challenge of keeping their Venezuelan culinary traditions alive in their busy American lifestyles.
They recognized the absence of arepas, a staple of their diet back home, and sought to transform this Latin American staple into a convenient, health-conscious dish.
After multiple rounds of cooking and testing in their kitchens, they officially launched TOAST-IT in 2019, targeting the health-conscious millennial demographic.
Before appearing on Shark Tank, TOAST-IT had made significant strides in the food market. The company emphasized strong branding and high-quality ingredients to differentiate itself in the crowded food market.
The flagship product of TOAST-IT is the ready-to-toast arepa, made from pre-cooked cornmeal flour known as Masarepa. These arepas are free from gluten, nuts, sugar, and preservatives and contain 5 grams of protein per serving.
The company also expanded its product line to include arepa options infused with chia and flaxseed and another made from cassava root.
Additionally, TOAST-IT ventured into the broader realm of Latin American cuisine with Pandebono Bites, which are sugar-free and include ingredients like tapioca starch, Latin American white cheese, stevia, and Himalayan pink salt.
By marrying convenience with healthfulness and tradition with innovation, TOAST-IT had already significantly impacted the U.S. food market before its appearance on Shark Tank.
With hundreds of orders per week and a presence in various supermarkets across the U.S. and Canada, TOAST-IT was well-positioned for continual growth before they pitched their business on the show.
How Was The Shark Tank Pitch Of Toast-It?
Sisters Maria Fernanda Römer Cabezas (‘Mafe’) and Maria Corina Vieteis (‘Coco’) presented their Latin American food company, Toast-It, on Shark Tank Season 15.
The company aims to quickly provide a convenient and ready-to-eat Latin American staple, arepas.
Mafe and Coco sought $100,000 for 5% equity in their guilt-free Latin foods business. They highlighted the market’s lack of authentic and convenient South American food options, which led them to create Toast-It.
The company’s focus is on offering better-for-you Latin American food, particularly the classic staple item, arepas.
They emphasize their products’ convenience and health benefits, such as being gluten-free, low in trans-fats and sugars, and high in protein.
Furthermore, they shared that the arepas come in various flavors and are already available in 900 stores, including Publix and Walmart, with recent expansions into the Florida retail market.
- Daniel Lubetzky: Accepted the deal for $150,000 for 20% equity
- Kevin O’Leary: Offered $100,000 for 20% equity
- Mark Cuban: Did not make an offer
- Daymond John: Did not make an offer
- Lori Greiner: Did not make an offer
After some negotiation, the sisters ultimately accepted Daniel Lubetzky’s offer of $150,000 for 20% equity in Toast-It.
The Sharks were impressed by the company’s expansion and reach into major retail chains like Whole Foods, Winn-Dixie, and Central Market.
Despite concerns over the company’s profit margins, the Sharks recognized the potential of the product and its marketability.
Mafe and Coco secured an investment from Daniel Lubetzky to grow their business further.
Did Toast-It Get a Deal on Shark Tank?
Yes, Toast It did get a deal on Shark Tank. The founders, Mafe Cabezas and Coco Viete, entered the Shark Tank seeking $100,000 in exchange for 5% equity in their business.
The Sharks were impressed with their product, which consists of ready-to-eat Venezuelan arepas and other Latin American staples.
Despite concerns about the low profit margins, Daniel offered $150,000 for 20% equity, which the founders ultimately accepted. This deal was made to help Toast It strategically grow its retail presence and increase its profit margins.
What Happened To Toast-It After Shark Tank?
After appearing on Shark Tank, TOAST-IT experienced a significant increase in website traffic and received numerous emails from interested customers.
The publicity from the show is expected to boost their sales by at least $100,000 in the next week, as nearly 3.5 million people watched the episode live.
The deal with Daniel Lubetzky, one of the “sharks” on the show, is expected to be finalized within the next four months.
TOAST-IT’s products can be ordered online at ToastItFoods.com or purchased in-store at various retailers, including Walmart, Whole Foods, Milam’s, Central Market, and Publix locations.
The company is also offering a Shark Tank bundle deal for $55.99. Regarding product offerings, TOAST-IT initially sold three flavors of arepas: Original, Cassava, and Chia Flaxseed.
The Chia Flaxseed flavor has a 5-star rating on their website, while the other two flavors average 4.5 stars. Additionally, TOAST-IT has expanded its product line to include Pandebono Bites.
Looking ahead, the business aims to improve profitability by lowering its cost of goods.
TOAST-IT has made significant strides in expanding its customer base and product offerings following its appearance on Shark Tank.
Toast-It Shark Tank Update
TOAST-IT, a Latina-owned food brand, debuted on Shark Tank Season 15 Episode 2. Founded in Miami, Florida, by Maria Fernanda Cabezas and Maria Corina Cabezas, the company showcased its innovative product, TOAST-IT Arepas, on the show.
During their appearance on Shark Tank, TOAST-IT offered $100k for 5% equity, valuing the company at $2 million. They accepted an investment from Daniel Lubetzky, who contributed $150,000 for 20% equity, resulting in a final valuation of $750,000.
Since their appearance on Shark Tank, TOAST-IT has continued to gain traction and expand its offerings.
The company has remained committed to providing guilt-free Latin American staples that showcase the culture’s delicious flavors.
TOAST-IT’s mission goes beyond tantalizing taste buds; they are dedicated to providing guilt-free options to suit various dietary preferences and lifestyles.
Their range of products, including the signature TOAST-IT Arepas, has garnered attention for its authentic Latin flavor and ease of preparation.
The brand’s dedication to spreading the essence of its heritage through traditional flavors and healthy ingredients has resonated with a broader audience.
TOAST-IT offers pre-toasted arepas in various flavors, such as Original, Chia-Flaxseed, and Cassava, providing customers with a wide range of choices to suit their tastes.
The arepas are ready-to-toast and do not require complicated cooking methods, making them convenient for consumers.
These Latin foods are convenient in their preparation and lightweight packaging with a long shelf life, making them a perfect option for stocking up on tasty and nutritious snacks.
TOAST-IT takes pride in creating guilt-free Latin American staples that exude love for their rich culture. Their appearance on Shark Tank helped them reach out to a broader audience, showcasing their mouth-watering arepas and their mission to promote Latin American culture.
A whole new generation is being introduced to the joys of Latin American flavors through TOAST-IT. Their guilt-free arepas offer a great way to enjoy a delicious snack that maintains the authentic taste of a cultural classic while staying health-conscious – a perfect fusion of heritage and modern lifestyle.
TOAST-IT’s post-Shark Tank journey has seen the company grow and continue to bridge the gap between tradition and modernity, offering a fresh take on cherished cultural staples while impacting the cultural influence of Latin American cuisine.
Is Toast-It Still In Business?
Yes, TOAST-IT is still in business and has expanded its product offerings since its appearance on ‘Shark Tank.’
The company, founded by sisters Maria Fernanda Cabezas and Maria Corina Cabezas, initially launched their flagship product. These ready-to-toast arepas are derived from pre-cooked cornmeal flour and cater to the busy American lifestyle while honoring Venezuelan culinary traditions.
Since then, TOAST-IT has continued to grow and diversify its product line. They introduced Pandebono Bites, which are nutritional balls made of cassava and cheese, offering a healthy and nutritious snack.
Like their original arepas, these bites are gluten-free, nut-free, and free from preservatives and sugar, making them suitable for a wide range of consumers.
The company’s products can be found in major retail chain stores such as Walmart, Publix, Winn Dixie, and Whole Foods Market, as well as on their website for nationwide shipping.
TOAST-IT’s expansion into new product categories and its presence in numerous retail stores indicate that the company is still active and thriving in the food industry.
Additionally, they continue to engage with consumers through their online channels, sharing updates about their company’s success on their blog and social media platforms.
What Is the Net Worth Of Toast-It?
According to our research, the net worth of Toast-It is estimated to be $1 million. The valuation of Toast-It was $750,000 after securing an investment from Daniel Lubetzky on Shark Tank season 15.