Simply Good Jars Shark Tank Update

Simply Good Jars Shark Tank Update

Simply Good Jars is a healthy, sustainable jar for keeping meals, and it was produced by chef Jared Cannon. The company commenced six years ago. They sell salads made in advance, which were designed to remain fresh without any preservatives. 

Update on Simply Good Jars after Shark Tank shows that it appeared on Season 12 Episode 16. There, the company got a deal with Lori Greiner and Mark Cuban for $500,000 for 10% equity. But it looks like the deal Jared made with Mark and Lori was never closed. Despite this, the visibility the show gave them led to a massive increase in sales for them. 

Progressively, this article aims to show Simply Good Jars Shark Tank updates and information on Simply Good Jars today as regards profitability. 

Simply Good Jars Shark Tank Profile

Simply Good Jars Shark Tank Profile

Was Simply Good Jars on Shark Tank? Yes, they were on Shark Tank season 12, episode 16, in March 2021.  The inventor Jarred Cannon pitched his sustainable salad jar that promotes fresher and healthier eating for everyone.  He hoped to get investment from any of the sharks. Below is a brief overview of the Simply Good Jars update on the Shark Tank.

Name of the company Simply Good Jars
FoundedNovember 2017
FounderJared Cannon
ProductA sustainable jar for keeping pre-made food (especially salad) fresh. 
Asked for$500,000 for a 7% equity
Final deal$500,000 for a 10%/equity
SharksLori Greiner and Mark Cuban
Episode (Shark Tank America)S12 E16
Air date5th March 2021
Status of the BusinessCurrently in business and operational
Website https://simplygoodjars.com/
HeadquartersPhiladelphia, USA
Annual sales$3.6 million
Buy productSimplygoodjars.com for online purchase. For offline purchases, visit 7-Eleven stores, Costco, or Walgreens. 
Watch onAmazon Prime
Net worth$6 million
Annual revenue $4.529 million

Simply Good Jars Shark Tank Update

Simply Good Jars is an eco-friendly jar used to provide healthy, fresh, and convenient food options sustainably. It was featured on Shark Tank season 12, episode 16, on March 5, 2021. Simply Good Jars Is owned by Jared Cannon, and he pitched his product on the Shark Tank show expecting to get investment from the Sharks. He proposed $500,000 for 7% equity. 

At that time, he had only 51% ownership because of the numerous losses made in the business (about $900,000 yearly). In other words, this will result in less control of the company once he gets a deal. 

Simply Good Jars Shark Tank Update

However, Lori Greiner and Kevin O’Leary believed in Jared’s vision and jointly proposed a $500,000 loan for 9.5% interest with 7% equity. Jared still sought help from other investors, but Mark Cuban didn’t see the need for more funding. 

Rather, he proposed to join hands with Lori to offer Jared $500,000 for 10% equity. Lori agreed to partner with Cuban and then cut Kevin off from the deal; Jared accepted this last offer. 

What Happened To Simply Good Jars After Its Appearance on Shark Tank?

What happened to Simply Good Jars after Shark Tank? After Simply Good Jars’ appearance on Shark Tank, the company secured a deal with Lori Greiner and Mark Cuban for $500,000 for 10% equity. 

Regardless, it happens that the final deal Jared made with Mark and Lori was never closed. But amid the unfinalized deal, simply good jars got massive visibility from the Shark Tank appearance. It attracted potential investors and new customers as well.

The company experienced a 1200% increase in its sales as of 2021 after appearing in Shark Tank and received more than 750,000 inquiries. This happened after the Simply Good Jars Shark Tank episode was aired. They’ve had a massive expansion in their distribution and can be found in several stores like 7-Eleven stores, Walgreens, Costco, and hospitals. 

Simply Good Jars Net Worth

In 2021 Mark Cuban and Lori Greiner invested in Simply Good Jars when its net worth was $5 million during their Shark Tank presentation. Their appearance in Shark Tank gave them good visibility, which skyrocketed their sales and net worth achieving $4 million in sales by 2021 year-end. Estimated data suggests its 2023 net worth is around $6 million. 

Simply Good Jars Net Worth

Simply Good Jars Sales Data

Below is the yearly sales data for Simply Good Jars. 

YearSales Revenue
2022$3.6 – $3.7 million
2023$4.529 million

The specific yearly sales data for Simply Good Jars is not readily available. However, the annual revenue of the company is valued to be around $3.6 million to $4.529 million from 2022-2023.

Is Simply Good Jars Still Profitable?

From the 1200% sales increase achieved in the year 2021, they have shown that the company is very profitable. In addition, they’ve secured deals with different stores, like Wawa, Costco, etc., for supplies. Also, the company has raised about $2.49 million in funding from 3 investors. 

Is Simply Good Jars Still Profitable

How Did The Founder Of the Simply Good Jars Come Up With The Idea For The Product?

Jared Cannon, the producer of Simply Good Jars, manufactured this product with the intention of improving communities and lives through food. His goal was to provide healthier, fresher, and more available food options. This patented Smart Jar Technology™ keeps food naturally and fresh for a longer period. 

As we delve deeper into the world of convenient and healthy meal options, let’s explore the updates on the Toilet Timer in our Toilet Timer Shark Tank update. Discover how this fun and practical product is making bathroom time more entertaining. Additionally, for those interested in innovative sock design and social impact, don’t miss our Bombas Shark Tank update, where we share insights into the latest developments in this creative venture.

Conclusion

Simply Good Jars appeared on Shark Tank Season 12 Episode 16 and sealed a deal with Lori Greiner and Mark Cuban for $500,000 for 10% equity. Its appearance on Shark Tank gave it massive visibility, and this had its sales increased by 1,200%. Also, the company has secured deals with various dealers such as Walgreens, Wawa, 7-Eleven stores, Costco, and hospitals. 

Simply Good Jars aim was to invent a new idea for packaging pre-made salad to still create delicious and fresh meals in the long run. Also, to promote sustainability and reduce waste in oceans and landfills by creating recyclable and reusable jars. Progressively, the company continues to grow and provide fresher, healthier, and more accessible food options while reducing waste.

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