CAKES body Net Worth 2024 Update & Their Shark Tank Pitch!

CAKES body, a bra alternative nipple cover founded by Taylor Capuano and Casey Sarai, aired on the 15th season of Shark Tank USA in 2023. The founders were seeking $300,000 for 5% equity for their business. However, they secured a deal with Emma Grede, $300,000 for 10% equity. In this article, we will explore CAKES body Net Worth in 2024, its Shark Tank pitch summary, and more.

CAKES body Net Worth

As of 2024, CAKES body’s net worth is estimated at $5.2 million, and its annual revenue was $5 million in 2023. 

CAKES body Net Worth Timeline

Shark Tank CAKES body Update from Season 15 

Taylor Capuano and her twin sister, Casey Sarai, started CAKES body to offer a new solution for women who struggle with coverage issues because of insufficient padding. They designed an alternative to traditional bras that solve this problem.

Many swimsuits and sports bras come with foam pads, but these often don’t last after multiple washes. While regular bras may provide better coverage, not every woman feels comfortable wearing them, and some outfits don’t work well with a bra. CAKES body addresses these challenges with its unique product, offering women a lasting solution that provides superior coverage and comfort. 

It is a set of smooth, breathable nipple covers. These covers stick to the skin using the body’s natural warmth without needing any adhesives. Also, it comes in three sizes and is made from reusable, washable silicone, which naturally clings to the skin.

In the Shark Tank, they introduced CAKES body and asked for $300,000 for 5% equity, valuing the company at $6 million. During their pitch, the sisters handed out samples of their product. There, they even managed to let them stick one of the CAKES onto Mr. Wonderful’s bald head.

Lori Greiner asked the sisters about their backgrounds in creating this one, and they explained that because of their bra problem, they created this one. Guest shark Emma Grede asked how the sisters planned to stand out in a crowded market with many similar products. Casey explained that when they first researched, no brand was dominating the boob accessory space. They aimed to create a seamless solution for women who wanted better coverage without showing through clothes. 

She further added that CAKES body nipple covers are wider and lighter than other options, and their adhesive doesn’t weaken from sweat.

Mark Cuban asked the sisters to explain how their sales justified their $6 million valuation. Casey shared that they started CAKES body with just $10,000 in savings. Also, they spent nothing on marketing and had no outside investors in their first year, yet they still made $1 million in sales. They also said that in the last five months, they made $1.5 million and expect to reach $5 million by the end of the year.

Casey added that they had a 35% net profit margin, earning $300,000 in profit last year and $500,000 this year. The panel admired this growth, so Mark asked about their main revenue source. Taylor explained that 90% of last year’s sales came from organic reach on TikTok. Also, the sisters said that they planned to reduce their reliance on TikTok and diversify their revenue streams. 

Moreover, the sisters were shifting towards paid ads, which were highly effective, bringing in five times the amount spent. Robert Herjavec then asked about the production cost of each nipple cover. Taylor shared that each unit costs $8 to make and sells for $30 online, giving them a 75% gross margin.

Guest shark Emma Grede admired the sisters but asked why they needed a shark. There, Taylor explained that they need guidance to grow from a single product into a lasting brand. Casey added further that they also wanted to help address the real problems women face.

Mark Cuban liked the sisters but said the product wasn’t in his area, so he gave up on the deal. Robert Herjavec said he learned about women’s needs and the products they wanted, but this one didn’t fit him, so he chose not to invest.

However, Emma praised Casey and Taylor, saying they were more than just marketers. She acknowledged that the business was still new but advised them to find better ways to reach clients. She believed the product could succeed in wholesale and retail markets. Emma offered $300,000 for 12.5% equity in the company.

Next, Kevin offered the founders $300,000 for a 5% equity share in the company and a royalty of $1 per set that expires after $1 million is paid. However, Casey and Taylor preferred to deal with Emma, and they offered $300,000 for 8% equity, but Emma declined it. Then Emma made her final offer of 10% equity. Finally, the sisters accepted her offer, valuing the company at $3 million, which brought a satisfactory end to the negotiation.

Summary of the Sharks’ Deal List!

What Happened to CAKES body after Shark Tank?

As of September 2024, the CAKES body is still in business. Since their appearance on Shark Tank, CAKES body, based in Los Angeles, has seen impressive growth. Though they were already featured in well-known publications like Glamour, Vogue, and Vanity Fair, the Shark Tank show significantly boosted their visibility. Also, several factors have helped them build a loyal community around their brand.

CAKES body donates $1 to women’s health charities, the Breast Cancer Coalition and The Previvor, for each product sold, with over $300,000 donated to date. Their “Hype Girl Program” offers members perks like early access to new products, invitations to special events, and a commission-based earning system. Their focus on comfort, versatility, and social responsibility helps them foster a genuine connection with their customers, positioning CAKES body for lasting success and positive impact.

To prepare for a surge in demand, the founders are increasing their inventory. They offered a 10% discount on their website, CakesBody.com, which people can also access through Taylor Capuano’s TikTok account. With more than 178K Instagram followers, the brand has continued to attract attention online. 

CAKES body Founders

Taylor Capuano and Casey Sarai launched the CAKES body in 2022. Identical twins Taylor and Casey pursued different academic paths but shared a strong interest in account management and marketing. Their mutual passion led them to a common goal of starting a business. Before starting their own business, the sisters have worked in different fields. 

Taylor graduated from St. Lawrence University with an economics degree. She started her career as an assistant account executive and later moved into senior marketing roles at the apparel brand Life is Good. Also, in 2012, she founded the Young Professional Association.

Casey graduated from Quinnipiac University and has nearly ten years of corporate marketing experience. Further, she has worked in various roles at Pernod Ricard company.

The sisters’ journey to appearing on Shark Tank was one of persistence. After being rejected in their first application in July 2022, they applied again in September and were accepted for season 15 in early 2023. They spent six months preparing for their pitch, and even their dad helped them achieve the Shark Tank deal. Taylor Capuano and Casey Sarai’s net worth is $2.7 million as of 2024.

CAKES body Achievements and Awards

Conclusion

Shark Tank is a TV show showcasing different business ideas, helping them succeed. CAKES body was one of the ventures featured on the show. They made a deal with Taylor Capuano and Casey Sarai, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.

Before you leave, check out the other company updates in Season 15, Episode 09. 

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