We all have heard about different kinds of sauce, such as tomato sauce, chilly sauce, barbeque sauce, and many more.
However, have you heard of applesauce? We will tell you about one if you haven’t heard about such things.
Keisha Smith is the founder and inventor of Sanaia Applesauce, who provided the world with the delicacy of unimagined applesauce.
Sanaia Applesauce is a tasty sauce made of apples for adults. The founder states that all the sauce sold in stores targets kids. However, Sanaia Applesauce is designed for adults.
What is Sanaia Applesauce?
Sanaia Applesauce is a line of applesauce created for adults as most of the applesauce available in the market is targeted toward kids.
Every jar of Sanaia Applesauce contains nutritious and delicious one or two wedges of baked green apples.
Each jar of Sanaia Applesauce also contains one or two wedges of baked green apple. She seeks a $150,000 investment in exchange for 15% equity in her food firm during Season 10 of Shark Tank. (Four Sanaia 7.75-ounce jars cost $19.99.)
|Founder||Keisha Smith Jeremie|
|Product/Startup||An organic green apple-based Gourmet Applesauce Inspired by the Hawaiian Islands|
|Investment Seeking||$150,000 For a 15% stake in Sanaia Applesauce|
|Final Deal||$150,000 For a 25% stake in Sanaia Applesauce|
|Shark Who Invested||Mark Cuban|
|Episode Aired||Season Episode|
|Business Status||Out of Business|
Who is the Founder of Sanaia Applesauce?
Keisha Smith-Jeremie is the founder of Sanaia Applesauce. Keisha worked as a head of human resources at News Corp and Managing Director of Global Co-head of Talent Management at Morgan Stanley before founding Sanaia Applesauce.
Sanaia Applesauce Before Shark Tank
Keisha spent her entire childhood on the Bahamas island, learning about different spices and fruits.
When she was away from home for college, she tried to make her first applesauce while sick at the University of Virginia.
She mixed different fruits and blended them, which were alive in her memories from childhood.
Keisha never intended to start business applesauce. It all started as a hobby for her when she wanted to have some good food. However, her hobby soon turned into a passion which later gave her a great business.
The first batch of applesauce she made was made by blending simple fruit such as apple and guava.
Keisha soon started the mass manufacturing of Sanaia Applesauce with a personal investment of $500,000.
People were so much interested in applesauce created by Keisha as the taste made people feel like paradise.
Keisha was financially dependent on her parents and siblings after leaving her job as human resources executive and investing all her money into Sanaia Applesauce.
Hence, Keisha decided to approach Shark Tank to obtain the required financial support to increase the production and distribution of Sanaia Applesauce.
How Was The Shark Tank Pitch of Sanaia Applesauce?
Sanaia Applesauce was 9 months old when the founder Keisha Smith Jereme reached out to Shark Tank for financial support for her business. Keisha appeared on the Shark Tank episode 2nd and season 10.
Keisha appeared on Shark Tank seeking an investment of $150,000 for a 15% stake in Sanaia Applesauce. She starts her presentation by telling her story to the sharks.
Keisha informed the sharks that the product had only been tested through a six-month-long direct-to-consumer route. During that period, she made approximately $40,000 in sales.
Keisha opined that most of the sales came from folks who wished to adopt a plant-based, veg-based, nutritious diet.
Her cost for each jar of Sanaia applesauce is only $4, whereas she can sell a set for almost four times that much.
Kevin O’Leary expressed concern that it sounded a bit pricey, but Keisha believes that the organic applesauce recipe merits the price.
The sharks wanted to know how much money she had raised for her brand of organic applesauce.
Keisha swiftly answered and informed the sharks that she used $250,000 of her funds to launch her firm.
Mark Cuban had issues with the jar packaging as opposed to the paper cup packaging, saying it would be less expensive to eliminate the jar and increase her product margins.
Unfortunately, before Keisha could react, Lori Greiner withdrew from negotiations because she did not believe the investment suited her.
Robert Herjavec also withdrew because he disapproved of the presentation, particularly about the product’s performance at trade exhibitions.
Keisha was informed by Barbara Corcoran that she could make an offer but that it would likely be insulting.
She decided to speak it into life and told her she would give her $150,000 for 75% of the company’s shares.
Keisha declined swiftly, and Barbara left the negotiations immediately after that.
Kevin shared a few of his worries before withdrawing from the investment because he deemed it too dangerous.
Mark Cuban was Keisha’s final chance to reach a deal, and despite his reservations, he remained interested.
Keisha indicated that she would accept his offer of $150,000 for a stake of 25%.
Barbara made the first offer of $150,000 for a 75% stake in Sanaia Applesauce which Keisha rejected immediately.
Mark was second to offer $150,000 for a 25% stake in Sanaia Applesauce which Keisha accepted immediately.
Keisha left the Shark Tank stage with an investment from Mark Cuban for Sanaia Applesauce.
Final Deal: Mark Cuban agreed to invest $150,000 for a 25% equity in Sanaia Applesauce.
Did Sanaia Applesauce Get a Deal On Shark Tank?
Yes, Sanaia Applesauce got an offer of $150,000 for a 25% stake in the business from Mark Cuban.
What Happened To Sanaia Applesauce After Shark Tank?
Though Mark Cuban agreed to invest $150,000 for a 25% stake in Sanaia Applesauce, the deal was never finalized. Keisha raised $75,000 from her sources to invest in her business.
Keisha left her full-time job as a human resource executive and focused full-time on Sanaia Applesauce.
She designed a package of Sanaia Applesauce like yogurt cups and sold the pack of 4 of 7.75 oz. for $19.99.
However, the COVID pandemic turned out to be harsh for Sanaia Applesauce. Sanaia Applesauce was forced to close its production in 2020 due to the COVID19 pandemic.
However, the existing stock of Sanaia Applesauce is still on sale on their website. You can also try Sanaia Applesauce by ordering them on https://tastesanaia.com and even from Walmart offline and online stores.
Sanaia Applesauce update
Keisa left her job as a human resource executive after appearing on the Shark Tank show. Keisha took another job at Tory Burch and didn’t give much focus to Sanaia Applesauce.
Sanaia Applesauce stopped its production in 2020 due to the COVID-19 pandemic. However, Keisha told in an interview in February 2021 to CNBC that she is planning to resume the production of Sanaia Applesauce.
You can find Sanaia Applesauce at Walmart online and offline stores and enjoy their delicious taste.
Is Sanaia applesauce still in business?
Sanaia Applesauce’s deal with Mark Cuban was never closed. Unfortunately, Sanaia Applesauce went out of business due to the COVID-19 pandemic.
Keisha was forced to shut down the manufacturing and production of Sanaia Applesauce in 2020.
However, the Sanaia Applesauce website is still in business as of 2022, and you can order their applesauce from their website.
Where can you buy Sanaia applesauce?
You can buy Sanaia Applesauce from their official website and Walmart’s online and offline stores.
What Is the Net Worth of Sanaia Applesauce?
The valuation of Sanaia Applesauce was $1 million when it appeared on Shark Tank. The net worth of Sanaia Applesauce is unknown as of 2022 since the company came back in 2022 after the COVID pandemic.