OatMeals Shark Tank Update – What Happened To OatMeals?
Samantha Stephens embarked on a remarkable journey when she founded OatMeals in 2012. With her culinary abilities, OatMeals quickly became a hit due to its 30 different signature bowls and over 81 toppings, cookies, and muffins.
However, what is the Oatmeals Shark Tank update? Sam appeared on Shark Tank S10E7 with a clear vision and a passion for OatMeals like no other. She sought a $500,000 investment in exchange for a 20% stake. And finally, she took the deal of $500,000 for 33.3% equity with Lori Greiner. By 2018, OatMeals’ net worth was $2.5 million until physically closed in 2021 due to Covid-19.
So, what happened to OatMeals and where is it right now? Here is the OatMeals shark tank update as of 2023. Keep reading.
OatMeals Shark Tank Profile
Here is OatMeals’ Profile at a glance.
| Company Name | OatMeals |
| Founder | Samantha Stephens |
| Founded | June 27th, 2012 |
| Service | An Oatmeals Cafe |
| Shark Tank Episode | Season 10, Episode 7 |
| Air Date | 3rd December 2018 |
| Asked for | $500,000 for 20% equity |
| Final Deal | $500,000 for 33.3% equity |
| Shark | Lori Greiner |
| Business Status | Out of business |
| Cost | $4.25 for each bowl offered |
| Website | OatMeals |
| Headquarters | Manhattan, New York |
| Net worth | $2.5 million as of 2018 |
| Deal after shark tank | Not closed |
| Competitive Performance | Ranked 1st among its competitors |
| Watch On | Amazon Prime Video, Hulu, FubuTV |
What Happened to The OatMeals in Shark Tank Episode?
Samantha sought a $500,000 investment in exchange for a 20% stake in her business during the OatMeals shark tank episode. Sam conveyed the essence of OatMeals by handing out delectable samples of her OatMeal, providing the sharks with a variety of both sweet and savory options.
Sam Stephens introduced the different sizes of OatMeals bowls served at OatMeals – the “baby bear,” “mama bear,” and “papa bear” — each weighing 8, 12, and 16 ounces, respectively.
Lori Greiner was astounded by the taste. She described the meal as one of the most delicious things she had ever tasted on the show.
Regardless, Kevin O’Leary expressed concern about the company’s profits and questioned the perception of OatMeals as merely a breakfast item. As a result, he decided to back out of the deal. Daymond John also expressed his reservations, estimating a longer return on investment and deciding to pass.
Lori Greiner, on the other hand, saw potential in OatMeals and proposed a shift in the business model toward retail sales of the most popular flavors. Her offer included the $500,000 investment in exchange for 33.3% ownership. She also offered to connect OatMeals with Starbucks.
Barbara Corcoran, as well, saw promise in Sam Stephens’ vision, but she had a slightly different approach. She suggested pursuing a food cart model rather than a physical restaurant. Corcoran was willing to provide $500,000 in exchange for 50% ownership of the cart business.
Sam Stephens had to make a difficult decision. Ultimately, she took a leap of faith and embraced Lori Greiner’s vision, citing inspiration from Greiner’s successful journey with Bantam Bagels.
What Happened To OatMeals After Shark Tank?
Now, about the OatMeals shark tank update, the deal between Lori and Samantha did not close. Samantha’s OatMeals business in New York remained open until two years ago. The pandemic compelled difficult decisions, and OatMeals’ physical doors closed on January 24, 2021.
Despite this setback, Sam Stephens was determined not to let her dream die. OatMeals today has found new life in the virtual realm, shifting its operations online. The company now sells its beloved granola through an online store, allowing customers to enjoy the flavors they’ve grown to love.
Sam Stephens also continued to work with Quaker Oats. Her continued involvement with Quaker Oats saw her contributing recipes to their website, sharing her expertise and passion for OateMals with a wider audience. As of 2023, Sam is working on an OatMeals cookbook and a recipe blog.
OatMeals Net Worth
OatMeals’ net worth was $2.5 million when it appeared on Shark Tank. This valuation reflected the potential and growth prospects that the company displayed.
However, as previously stated, unforeseen circumstances and lockdown measures resulted in the closure of the physical restaurant. As a result, OatMeals’ net worth is unknown as of 2022.
OatMeals Sales Data
As a privately held company, OatMeals kept its yearly sales data private when it was in operation. Even now, as an online-based company, no sales data is available.
The privacy of their financial information is standard practice for privately held companies. This safeguards sensitive data and maintains a level of discretion in the business world.
Is OatMeals Profitable Now?
OatMeals suffered a significant setback due to the COVID-19 pandemic, and physical stores have not reopened since 2021. The only way OatMeals makes money is by selling its signature granola online.
All indications point to the company having low profit margins. Even in better times, the company struggled to turn a profit.
Conclusion
From its humble beginnings as a college dream to its appearance on “Shark Tank,” OatMeals has captured the hearts of many with its innovative and delightful OatMeals creations. Even though Samantha’s Shark Tank deal fell through, OatMeals was able to stay in business until 2021.
The pandemic-induced hardships forced the closure of its physical locations. OatMeals, on the other hand, persevered by shifting to online operations and providing its signature granola to loyal customers. Samantha stated on Facebook that OatMeals might get another chance in the future.
