Additional Coverage:
- ‘Shark Tank’ judge Mark Cuban loses patience and asks contestants to leave after not getting a deal (marketrealist.com)
A “Shark Tank” hopeful’s pitch for Pinole Blue, a company specializing in a roasted corn mixture called pinole, ended in a polite but firm dismissal by Mark Cuban. Entrepreneurs Kate Kung-McIntyre, Eddie Sandoval, and Kyle Offutt entered the tank seeking an investment to boost their business.
Sandoval, inspired by his Hispanic heritage, founded the company based on the traditional Mexican ingredient. Pinole, derived from blue corn, boasts a rich nutritional profile and is traditionally stone-ground using volcanic rock.
While the product itself intrigued the Sharks, the company’s financials presented a significant hurdle. Despite projecting $730,000 in sales for the year, Pinole Blue’s previous year’s performance showed a stark contrast, with only $5,000 in sales against $260,000 in gross profit. This discrepancy, coupled with the challenge of expanding pinole’s appeal beyond the Hispanic market, deterred the Sharks from making an offer.
Unwilling to accept defeat, Kung-McIntyre attempted to sway the Sharks by highlighting her partners’ scrappy nature and limited resources. However, the Sharks, having all faced similar challenges in their own entrepreneurial journeys, remained unconvinced. Finally, Mark Cuban, while acknowledging their efforts, gently but firmly requested the entrepreneurs to leave the tank, ending their bid for an investment.