Despite failing to nab a deal, Oat Haus Granola Butter’s Net Worth reached $4 million as of 2023.
How did they do it? We’ll update you on what happened after the granola butter brand’s episode aired on Shark Tank.
Quick Facts (Oat Haus at a Glance)
- Shark Tank Episode: Season 13, Episode 3
- Aired: October 8, 2021
- Founders: Ali Bonar, Eric Katz, and Ari Schraer
- Investor: none
- Final Deal: No deal
- Status: Operational
About Oat Haus
Oat Haus is the world’s first granola spread. It’s oat-based and contains flaxseed, olive oil, maple syrup, and other spices.
The nut-free butter has a taste and aroma similar to peanut butter. Yet, people with nut allergies can safely consume it. What’s more, it’s vegan and gluten-free.
You can use Oat Haus spreads on toast and smoothies as well!
How Did Oat Haus Start?
Oat Haus is a product born out of Ali Bonar’s eating disorder. She studied nutrition at UC Berkeley. However, her knowledge would develop into anorexia, which is an unhealthy obsession with diets.
To cope, she started therapy and opened an Instagram account to document her journey of healing. This was where she gained her following as AvoKween.
The first thing Ali wanted to do was start eating peanut butter again. Yet, after a decade of dieting, she couldn’t handle anything other than salads and granola. Other nut-free spreads didn’t sit right with her too.
She was in the kitchen one day when she had the idea to make a granola spread. The product was so good that she started selling it as a side business.
Originally, she and her boyfriend, Eric Katz, named the product Kween & Co after Ali’s Instagram account. They brought in Ari Schraer, a chef and childhood friend, to make improvements to the recipe.
However, the business partners would soon realize that not everyone knew about Ali’s Instagram. That was when they decided to rebrand as Oat Haus.
Oat Haus Before Shark Tank
Oat Hause launched in March 2018. In their first year, they sold $156,000 worth of products. The following year they did $435,000.
When Ali, Eric, and Ari went on Shark Tank, in 2021 they had already $2.7 million in lifetime sales.
What Went Wrong During Oat Haus’s Pitch?
As you can tell, none of the sharks made a deal with the company. Mark Cuban believed that the product didn’t have a stand-out factor.
Barbara Corcoran and Lori Greiner liked the granola spread but didn’t think they could do anything for the product. Meanwhile, Kevin O’Leary didn’t like the taste and consistency, so he backed out.
David Lubetzky, guest shark and founder of KIND Snacks, had a lot more to say. During the pitch, Eric and Ali emphasized that they based their evaluation on people who sold their companies at high prices.
David said that he didn’t want to do business with founders who were already thinking about how much their company would sell in the future.
What Happened to Oat Haus After Shark Tank?
In an interview with the Philadelphia Business Journal, Ari revealed that they received a flood of orders after the Shark Tank episode aired. Oat Haus’ sales surged by 300% and they made $2.5 million in sales in 2021.
They got Jameela Jamil, an actress from The Good Place series, as an investor in the company as well.
Today, Oat Haus continues to grow. The company churned out new flavors like red velvet, cookie dough, birthday cake, and cinnamon roll. You can find its products in Whole Foods, Sprouts, Thrive Market, and many more.
Oat Haus Granola Butter’s net worth is on the rise because its products are truly loved by many. It revolutionized the world with a spread that’s the first of its kind. We can’t wait to see what they do next!