Jelinek pitched Kids Luv to the Sharks on Season 11 of Shark Tank. She was seeking $200,000 for 8% of her company.
Today, Kids Luv has a net worth of $10,000. The company was founded by Ashi Jelinek, a mom who was looking for a healthier beverage option for her kids.
The Sharks were impressed with Kids Luv, but they were also concerned about the company’s lack of sales and distribution.
Kids Luv Net Worth
- Net Worth: $10,000
- Annual Revenue: Zero
- Life Time Sales: $3 Million
- Losses: $800,000
- Cash in Bank: $150
- Verdict: Bankrupt
Shark Tank Update
Kids Luv lost an estimated $1 million in 2020, the first year of the COVID-19 pandemic. The company’s sales plummeted as parents became more cautious about what they were feeding their children during the pandemic.
In addition to the decline in sales, Kids Luv was also hit by rising costs for ingredients and packaging.
The company was also forced to spend more on marketing and advertising to stay competitive. Soon, it started losing shelf space at Walmart and Target.
Ashi Jelinek, the founder of Kids Luv, tried to get more investment, but to no avail. After failing to pay suppliers, production was halted in 2022, and Kids Luv filed for bankruptcy.
A million-dollar investment raised from friends and family has been written off as a total loss.
Pitch
During the Shark Tank pitch, Ashi Jelinek admits to putting $200,000 of her own money into the project.
In addition to her personal investment, she obtained $1 million from friends and family via a convertible note. Despite this financial support, Kids Luv has only made $55,000 in sales till then.
As a result, after accounting for these investments, Ashi now has only $50,000 in her bank account.
She explains that a large portion of her funds was spent on licensing, trademark protection, and regulatory costs.
Robert Herjavec and Lori Greiner emerge as Ashi’s last hope for securing a deal. However, Robert exits the negotiation due to concerns about how the money was spent.