Highlights
- Nadine Habayeb pitched Bohana, her popped water lily seed snacks, on Shark Tank.
- Nadine enters seeking $200,000 for 10% of the business.
- Faced questions about the snack’s nutritional value and market education.
Overview
| Category | Details |
|---|---|
| Name | Bohana |
| Founder | Nadine Habayeb, Priyal Bhartiya |
| Industry | Snack Foods |
| Product | Popped water lily seed snacks |
| Funding | Self-funded pre-Shark Tank |
| Investment Ask | $200,000 |
| Equity Offered | 10% |
| Valuation | $2,000,000 |
Nadine Habayeb wants the Sharks to taste Bohana, her popped water lily seed snacks, in Shark Tank episode 1117. She first tried this ancient Indian snack when her friend and company co-founder, Priyal Bhartiya, returned from an extended stay in her native India with the snack. Nadine loved them and they became her snack of choice.
Popped water lily seeds are a corn substitute that has been consumed in India for thousands of years. Bohana “puffs” have 67 percent less fat, 20 percent less calories and 50 percent more protein than any corn-based crunchy snack. Nadine fell in love with the seeds and the two women decided to start their business in January, 2017 to bring water lily seeds to the masses.
They source their seeds from a sustainable farm in Bihar, India where no water lilies are harmed in the “pick to puff process.” The snack itself is a “puff,” not unlike a Cocoa Puff in texture. Unlike the sugary cereal, Bohana offers healthy, savory flavors: Pink Himalayan Salt, Wild White Cheddar and Soulful Sriracha Spice. A six pack of 2 ounce bags costs $24.99 and they are available on Amazon. They’re also available in about 200 stores in the Northeast including Roche brothers markets, Big Y and Roots Markets.
The women obviously want to grow the brand nationally and they’d like a Shark’s help to do it.
Company Information
Video
Posts about Bohana on Shark Tank Blog
Popped Water Lily Seeds by Bohana
Bohana Shark Tank Recap
Nadine enters seeking $200,000 for 10% of the business. She proceeds to tell the story of how the company came to be and hands out samples. The Sharks like it.
Did Shark Tank Invest In Bohana?
The Sharks like its nutritional value, but Lori wishes it had more fiber. The other Sharks have concerns about educating the market place and Nadine assures them she sells out whenever she does a demo in a store.
Barbara steps up and makes an offer of $200,000 for 30%. Kevin says to take it and Barbara says she doesn’t want his help. Kevin decides he’s going to undercut Barbara and offers a $200,000 loan at 9% interest over three years in exchange for 8% equity. Nadine wants to keep as much equity as possible and does the deal with Kevin.
Bohana Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. This episode originally aired March 20, 2020 – the day most of the USA went into lock down due to the Covid – 19 pandemic. Since that date, there is no evidence the deal closed and the company does not appear on Kevin O’Leary’s website. On the company’s Facebook page, there is a picture of “Chef Wonderful” holding bags of the product. In 2020 they saw a 500% increase in sales.
In March, 2021, the women produced this update video:
As of August, 2022, they post annual revenue of $4 million. You can buy the products on their Amazon store, at Wegman’s in the northeastern US and several dozens of independent grocers.
More products from this episode! Check out other businesses that participated alongside Bohana.
