Seedsheet Shark Tank Update 2022: What Happened to Seedsheet After $500,000 Shark Tank Investment?

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What Exactly Is Seed Sheet?

SeedSheet is a gardening package that comprises potting soil, a watering nozzle, a security stake, and two distinct sheets with six different species of seeds implanted in them. SeedSheet was created by Cameron Mackugler in 2014 and consists of a weed-blocking fabric with a variety of dissolvable pouches.

Each one includes a soil buffer as well as organic, non-GMO seeds. Unroll the SeedSheet on top of the soil, add water, and the pouches will dissolve, the seeds will sprout, and your windowsill will be turned into a personal farmer’s market, according to the instructions. Customers may either buy pre-portioned recipe packages like a cocktail, spicy sauce, herbs, salad, or tacos, or they can make their own SeedSheet from scratch.

Seedsheet Quick Facts:

Name Seedsheet
Company Net Worth: $5 million *Estimated
Pitch: A seeded sheet that rolls out into a garden
Entrepreneur: Cam MacKugler
Asked For: $500,000 for 10%
Deal: $500,000 for 20%
Shark: Lori
Monthly income: $416,000

 

SeedSheet comes in a range of pre-made gardening bundles according to the vegetables you want to grow. Seed pods are attached to a roll of weed control fabric in this box. Roll out the sheet onto a garden bed that has been prepared, wet it, and start growing veggies.

Who Is the Founder of Seed Sheet?

Cam MacKugler launched SeedSheet in 2014, although the idea for the product came to him in 2012 while house-sitting for a friend on an 80-acre farm. He liked the fresh veggies he got while he was there, but he didn’t think he was capable of starting his own garden.

When he got the idea for SeedSheet, he made the first prototype with his friend’s kid’s crayons. He was familiar with design concerns as an architect. Customers design their landscapes online using the patent-pending garden-builder program.

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Enter your zip code, and the computer will suggest what plants can thrive in your area. Once you’ve designed your garden, they’ll put it together and ship it to you.

MacKugler established the firm with a successful Kickstarter campaign in the summer of 2015. He contributed $30,664 and delivered 250 pre-assembled gardens. Pre-designed kits start at $15, making getting started both affordable and straightforward.

What Happened to Seed Sheet at The Shark Tank Pitch?

MacKugler believes a Shark recognizes the development potential of SeedSheet, his foolproof organic gardening system, as he pitches in episode 22 of Season 8. He’s looking for a Shark to help him break into big retail chains. MacKugler hits the market with a $500,000 offer for a ten percent ownership in his $5 million firms.

He delivers his pitch before introducing Dan Rollman of Record Setter, a website where “anyone can set a world record.” MacKugler invites Mark onto the stage to establish a world record for planting 7,000 seeds. Mark sets a new world record by rolling up the seed mat in 14.5 seconds!

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He gives the Sharks an overview of the various options and discusses some of his background with them. The cost of producing each item ranges from $1 to $3. The wholesale price is $7.50, while the retail price is $14.99. In just 20 months, he’s generated $156,000 in sales. He has 46 Home Depot sites where he offers his goods.

Daymond marvels at his ability to disrupt horticulture, but Mark questions the transition to retail. Despite his admiration, Daymond feels Cam hasn’t mastered the switch to retail and has thrown him out. The second Shark to leave is Robert, who claims that his child will never use it.

Lori likes the idea and thinks she’ll be able to sell it on QVC. In exchange for a 22 percent ownership in the firm, she offers $500,000. Kevin offers $500,000 in return for a 15% stake in the company. Lori and Mark propose a 50/50 partnership.

Lori says she’ll pull Mark out of the transaction, and Mackugler asks if they’ll team up for 20% shares. After then, Kevin lowers the price to $500,000 for 12.5 percent equity shares. After considerable haggling, Mackugler agrees to pay Lori $500,000 in return for 20% stock in the company, and the presentation concludes with a contract.

After Shark Tank, What Happened to Seed Sheet?

Lori’s transaction was sealed after Mackugler left the pitch with a deal, and Lori emerged from her garden to market the goods on QVC. In the first two years after it aired, it generated $1.5 million in sales.

The $14.99 item has been discontinued. Container gardens are now $24.99, family-sized gardens are $79.99, and 48 raised bed gardens are $99.99 (raised bed not included). They also provide three-container-themed container garden packages for $92.99. As of December 2021, the business is up and running, with annual revenues of $5 million.

Seed Sheet’s Net Worth:

During the pitch, the firm was valued at $5 million; following Lori Greiner’s investment, the company was valued at $2.5 million. The corporation has a net value of $5 million in 2022.

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