Little Saints, a line of non-alcoholic beverages founded by Megan Klein, aired on the 16th season of Shark Tank USA in 2024. The founder was seeking $500,000 for 5% equity, valuing the company at $10 million. Unfortunately, she couldn’t secure a deal with any of the Sharks. In this article, we will explore Little Saints Net Worth in 2024, details of the Shark Tank pitch, and more.
Little Saints Net Worth 2024 & Financial Overview
After the show aired, the company experienced significant sales, with an estimated growth rate of 10% per year. Based on the company’s growth rate and the founder’s company valuation before the Shark Tank show, Little Saints’s net worth is estimated at $14.64 million in 2024.
| Annual Sales Revenue | $4 million |
| Profits | Not Available |
| Lifetime sales | Not Available |
Shark Tank Little Saints Pitch
Seeing that more people are choosing to drink less alcohol, Megan Klein, the founder of Little Saints, felt inspired to create non-alcoholic cocktails. She then recognized a demand for drinks that could provide the same enjoyable experience as a cocktail without the unwanted effects of alcohol.
The creator of Little Saints introduced their product as a healthy, alcohol-free cocktail alternative. She explained that each drink contains adaptogenic plants, stress-relieving mushrooms, and natural ingredients. She also highlighted that her drinks were gaining popularity both online and in local markets. On Shark Tank, Megan was seeking support to boost direct-to-consumer sales and reach more health-conscious customers.
Moreover, in the Shark Tank, she requested $500,000 for 5% equity in her business. Further, in her pitch, Megan showcased the strong growth of her business.
Each bottle costs $7 to produce with shipping and fulfillment, and the total cost is $23. It sells at $49.99 per bottle, and the product brings in a 54% profit margin. Also, over the last year, the company grew by 600%, reaching $5 million in sales since October 2023. Moreover, Megan invested $1 million of her savings and has secured an additional $2.2 million in funding.
Currently, Little Saints has a $650,000 line of credit with $500,000 drawn, $200,000 in cash, and $600,000 in outstanding receivables. In 2022, the company made $500,000 in sales but faced a $1.1 million loss. By 2024, sales rose to $4 million, while losses fell to $160,000. Also, the company’s lifetime customer value (LTV) is $120, while it costs $25 to acquire each customer (CAC).
Guest shark Rashaun Williams praised Megan as a good founder and offered $500,000 for 10% equity. But, as a response, Megan countered by holding to her original offer of $500,000 for 5% equity and a $2 million line of credit. However, Rashaun declined her request at that moment.
Lori Greiner then expressed admiration for Megan, but she thought the product was not suitable for her and decided not to invest. Daymond John then raised concerns about the high valuation, and he also declined the deal. At the same time, Mark Cuban also simply wasn’t interested in the product.
However, Kevin O’Leary and Rashaun, then teaming up, offered $500,000 for 15% equity for the product. But Megan declined, aiming to protect her company’s valuation. In the end, she left the Shark Tank without securing a deal.
| Company Name | Little Saints |
| Founder | Megan Klein |
| Business | Non-alcoholic cocktails and spirits fueled by functional mushrooms |
| Episode | Season 16, Episode 01 |
| Asked Deal | $500,000 for 5% equity |
| Final Deal | No Deal |
| Sharks | No Sharks |
Summary of the Sharks’ Deal
| Shark | Offer | Counteroffer |
| Kevin O’Leary & Rashaun L.Williams | $500,000 for 15% equity | No |
| Rashaun L.Williams | $500,000 for 10% equity | $500,000 for 5% equity and a $2 million line of credit |
| Lori Grinear | No | N/A |
| Daymond John | No | N/A |
| Mark Cuban | No | N/A |
What Happened to Little Saints after Shark Tank?
As of October 2024, the Little Saints is still in business. After the episode aired, Megan shared exciting news on her Instagram. There, she announced that they successfully raised funds at a valuation of $20 million, which is twice the amount offered on the show.
Little Saints recently partnered with Sprouts Farmers Market, getting their products into 400 stores across the country. Adding their new product, the company introduced a new flavor called Spiced Old Fashioned. Also, the company continues to grow, with nearly 800 stores now offering their wellness-focused, non-alcoholic mocktails. Further, Little Saints plans to enter the West Coast market by mid-2025.
Little Saints offers both one-time purchases and subscription plans for customers who want regular deliveries, with prices starting at around $30 for a pack of four drinks. The company is also working on canned versions of its mocktails and is collaborating with wellness brands. These efforts focus on sustainability to match eco-friendly trends. The aim is to enhance the brand’s appeal to health-conscious consumers.
Little Saints Founder
Megan Klein is the founder of Little Saints, which was started in 2021. She graduated from DSHA, grew up in Milwaukee, and began her career as a lawyer in New York, where she focused on food policy. Later, she moved to Chicago to be closer to family and to work on her interest in urban and local farming at FarmedHere company.
There, Megan helped connect consumers with local farmers by creating convenient, value-added products. After FarmedHere shut down, she co-founded Here in March 2017. This company turned produce from farmers in Wisconsin, Illinois, Indiana, and Michigan into salad dressings, cold-pressed juices, and bean dips.
Megan Klein then came up with her innovative cocktail idea during the pandemic. She often reached for alcoholic drinks but didn’t like the hangovers that followed. Wanting a healthier option, she searched for non-alcoholic alternatives but could find only a few that tasted good. Frustrated with the sugary options available, she then decided to use mushrooms as a unique ingredient and create her brand.
Megan sold her first drinks from a mint green vending trailer named “Baby Mint.” This helped her connect with others who wanted to cut back on alcohol. However, after launching her business, she faced challenges with brand awareness in the early years.
In 2023, she moved to Miami with the help of her CMO, Katie Green. This move significantly improved their online presence and helped Little Saints grow significantly. Megan Klein’s net worth is unknown as of 2024.
Little Saints Achievements and Awards
| Year | Achievements and Awards |
| 2023 | The brand was recognized as a finalist for “Best New Beverage” at the 2023 World Beverage Innovation Awards |
| 2024 | The company was featured on Shark Tank Season 16 |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Little Saints was one of the ventures featured on the show. Despite the loss of the deal, the company showed 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 16, Episode 01.
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