Doatnut Founder Appears On Shark Tank Season 16 Episode 3
Highlights
- California based baker cum entrepreneur Kimy Aguirre appears on Shark Tank Season 16 with Doatnut.
- The company offers healthy ‘doatnuts’ made up of the most natural ingredients.
- Investors love the taste but are apprehensive about its growth.
Overview
| Category | Details |
| Name | Doatnut |
| Founder | Kimy Agguire |
| Industry | Food and Beverages |
| Product | Unique sweet delicacies |
| Funding | Self-funded |
| Investment Ask | $100K |
| Equity Offered | 10% |
| Valuation | $1 million |
Brought to the investors in Shark Tank Season 16, Doatnut is a healthy version of a guilty pleasure. Entrepreneur Kimy Aguirre hails from Oceanside, California, and is an intuitive baker and ‘extraordinaire’ behind Doatnut. She starts the pitch by highlighting how Americans struggle with salt, fat, and sugar addiction.
But eating a sugar-free, gluten-free, and dairy-free diet can often feel like getting the taste of ‘cardboard.’ Against this backdrop, Kimy presents Doatnut as an ideal solution. While it appears as if it is loaded with sugar, Doatnut contains no dairy, no gluten, and less than one gram of sugar found naturally in sweet potatoes.
Composed of just 90 calories, its ingredients are limited unlike the other similar offerings in the market. Kimy claims that the ‘magic’ behind the products is in organic groats, which are oats in its original purest form.
Once the farmers harvest the oats, they are tested for gluten, packed, and shipped to her ‘little pink store,’ where she mills it into fresh oat flour. Kimy earns laughs from the Shark investors when she says it is a ‘farm-to-finger experience.’
Will the Sharks grab a bite in the deal?
Doatnut: What Happened On Shark Tank Season 16
Kimy appears in the third episode with the Doatnut Shark Tank pitch, seeking $100K for 10% equity. She presents samples of the most popular flavors of the brand. Churro is a cinnamon-based Doatnut. The Sharks love its taste and smell. Kimy uses Monk fruit as a sweetener, which makes the product a bit moist.
The 2022 launched Doatnuts uses five main ingredients, including groats, sweet potatoes, egg whites, Monk fruit, and baking powder. The cost of making is 70-80 cents and it is then sold in retail for $3.50. Mark Cuban feels the price is ‘too cheap.’
Kevin O’Leary thinks it could be sold for $4.99. He is also apprehensive about Doatnut’s scaling. Daymond John says he should at least wait to hear her numbers. Kimy reveals that sales made from 2021 to date are $350K. In 2024 alone, the sales are $50K.
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Did Doatnut Get A Deal?
Kevin likes the product and can become a customer but chooses not to invest as ‘it’s a great product without a business plan.’ While the two are still talking, Mark steps up and has a secret discussion with Lori Greiner. Daymond feels the business is not his area of expertise, so he does not make an offer.
Guest Shark Kendra Scott wants to know if Kimy wants to open more ‘pink stores’ in the future. She agrees, saying that is indeed a part of her dream. Kendra admires her passion but chooses not to invest as she cannot help her expand her business in the way she may want it to.
Mark wants to know if the entrepreneur has any debt. Kimy reveals she has $70K in debt. Lori interrupts, saying this is ‘my cup of tea.’ She then states that she, along with Mark, will offer $150K for 30% equity. Kimy counters it with a 20% equity, 10% for each of the two investors.
Mark says he would help her pay her debt with a revised offer of $200K for 30% equity, 15% each for the Sharks. Kimy happily agrees to the deal.
See what else is new! View other businesses featured in this episode.
