Shark Tank Episode 421 features Samantha Meis and Conor Riley of Misto Box, who pitched their coffee of the month business to the Sharks seeking an investment to expand their business.
The Misto Box sends you four new bags of artisan roasted coffee each month, like a book club. You choose which one you want more of, and Misto Box sends you the rest.
It’s an excellent way for coffee enthusiasts to experiment with different roasts and flavors. There are subscription plans available for a month, six months, or a year.
You will receive new coffees at your door each month as long as you remain a member.
Misto Box is the fourth Shark Tank season’s successful Kickstarter entrepreneur; the company was funded in April 2012 and began operations in July 2012.
What Is Misto Box?
Misto Box is a monthly coffee subscription service that sends freshly-roasted coffee beans to your home or office.
A service like Misto Box is the right solution for those who enjoy receiving a good cup of coffee directly to their door.
Misto Box allows consumers to customize their coffee flavor by generating custom blends. The company partners with over 50 domestic roasters to develop a custom blend based on your preferences.
The roast level determines the types of coffee you select, how you flavor them, whether you use ground coffee or whole beans, and how frequently you consume them.
|Company Name||Misto Box|
|Entrepreneur||Samantha Meis & Connor Riley|
|Product||A coffee subscription box showcasing locally roasted and novelties|
|Investment Asking For||$75,000 For 15% equity in Misto Box|
|Final Deal||$75,000 For 30% equity in Misto Box|
|Episode||Season 4 Episode 23|
|Business Status||In Business|
Who Is The Founder Of Misto Box?
The Misto Box Coffe Club was founded by Samantha Meis and Conor Riley in Tucson, Arizona.
The Misto Box team began with an amazing idea, and they successfully raised the necessary funds to launch it through a Kickstarter campaign that ended precisely one year ago today.
Their campaign raised nearly $10,000.00, establishing them as coffee connoisseurs who appreciate exotic blends from around the world.
Misto Box Before Shark Tank
Misto Box was founded in 2011 by Connor Riley and Samantha Meis as a University of Arizona student project, a year after meeting in Barcelona during a 2010 study abroad trip.
Samantha and Connor founded Misto Box as a college project.
Misto Box’s objective is to “easily discover and produce the world’s greatest coffee at home.”
The co-founders launched a Kickstarter campaign in April 2012, leading to the launch of the company’s website in May 2012.
Samantha and Connor expanded the business after marking a deal with Mark Cuban on Shark Tank.
Cuban claimed that to expand, they must add the ability for customers to customize their coffee flavors.
The company began to customize its subscription plans in 2014, something Cuban urged them to do or else risk failing.
The company expanded its business delivery services in early 2014. The company sold its one-millionth cup of coffee in February 2015.
How Was The Shark Tank Pitch Of Misto Box?
Samantha and Conor reach the Shark Tank show seeking an investment of $75K in exchange for a 15% stake in Misto Box.
Samantha and Conor assure us that they are reshaping coffee’s discovery process.
There are coffees from all over the world in each Misto Box. A person orders to have the ones they choose delivered to their homes.
Their subscription service offers three distinct packages, and they earn revenue from both subscriptions and coffee sales.
The business has been running for five months now.
Mr. Wonderful offers $75K in exchange for 25% of Misto Box because he believes it’s a crapshoot.
Robert lacks long-term vision; he is out.
Lori and Daymond are not coffee drinkers; they are non-coffee drinkers. Mark says he hasn’t quite reached that point.
Mr. Wonderful gives them a few seconds to convince Mark to invest with them before he leaves.
Mark would like to have more equity because he will be investing significant time in them. Samantha and Conor finally offer 30% of their business. They strike a deal!
Final Deal: Mark Cuban agrees to invest $75,000 for a 30% stake in Misto Box.
What Happened To Misto Box After Shark Tank?
Forbes.com ranks Misto Box as one of the top ten finest coffee subscription services.
Customers have the opportunity to work with a personal coffee specialist who would help them create the perfect coffee flavor.
It is possible to make your coffee mix if you are already familiar with coffee.
There are over 591 coffee kinds to choose from due to our collaboration with over 50 roasters.
The company generated revenues of $4.9 million, delivered 220,000 coffees, and satisfied 50,000 customers.
To date, Misto Box has given away 20,000 coffees as a gift.
Misto Box developed Ballotpedia to engage citizens in civic education. Ballotpedia provided users with updates on the 2020 elections.
Ballotpedia has unbiased information about the political process, including primaries, redistricting, and direct democracy.
Misto Box has worked with Ballotpedia to improve voter participation by educating individuals about the election process.
The special subscription includes information about the political process with each bag of coffee.
Misto Box Shark Tank Update
Misto Box’s website is still operational. The company closed its Phoenix office, hired a crew, and began working remotely after appearing on Shark Tank.
Connor is based in San Francisco, while Samantha resides in Greece and works there.
They have ceased fulfilling orders from Samantha’s little apartment, opting to outsource them to a Chicago-based company.
Misto Box recently marked four years in business and is still going strong.
An update on their blog states that they are currently working on improving the user experience on the website.
Is Misto Box Still In Business?
Misto Box merged with the Mark Cuban Companies to make it a part of the company.
Samantha and Mark worked with Mark to examine their costs, reduce them, increase sales, and allow consumers to create their coffee blends.
Episode 722 of season seven includes an update on Misto Box. The update describes how Mark challenged the company to adjust the coffee flavors to customer preferences while maintaining a reasonable price.
They have generated $2.5 million in sales in the three years since the purchase was completed.
They fully redesigned their subscription service, generating over $2.5 million in revenue. Their margins are increasing, and their customers are satisfied.
They’ve hired a fulfillment company to handle their orders by December 2021. They expect to generate $5 million in annual revenue.