Shark Tank Nowhere Bakery, a healthy bakery product founded by Maurizio and Saphira Rasti, entered Shark Tank USA in 2024 on Season 15. The founders were seeking $200,000 for 5% equity. However, they secured a deal with Barbara Corcoran, $200,000 for 12.5% equity. In this article, we will explore Nowhere Bakery’s net worth in 2024, its Shark Tank pitch summary and more.
Nowhere Bakery Net Worth
As of March 2024, Nowhere Bakery’s net worth is $1.6 million, and its annual revenue was $770K in 2022.
| Net worth | $1.6 million |
| Annual Sales Revenue | 770K (In 2022) |
| Profits | $32,000 (In 2022) |
| Lifetime sales | Not Available |
| Employees | 2-10 employees |
Nowhere Bakery Net Worth Timeline
| Net Worth 2024 | $1.6 million |
| Net Worth 2023 | $1.5 million |
| Net Worth 2022 | $1 million |
Shark Tank Nowhere Bakery Update from Season 15
Maurizio and Saphira Rasti who are coming from Costa Mesa, California, presented their bakery product, Nowhere Bakery on March 15 to Sharks. Nowhere Bakery specializes in cookies and brownies made with healthy ingredients. They impressed investors with their tasty treats. Their treats are free from dairy, eggs, gluten, soy, refined sugar, and sugar alcohols, and they’re paleo-friendly.
Barbara Corcoran said the cookies tasted like real ones. The couple asked for $200,000 for a 5% stake in Nowhere Bakery, valued at $4 million. In there, they described their journey to make a business.
At first, Saphira made their bakery products in her friend’s kitchen. Saphira would leave her home at 2 AM and start work at 3 AM. They used social media to promote their bakery items. Customers reviewed her products on their social media pages. Also, She worked up until 7 PM before the next shift. After work, she delivered their food item by hand.
In 2022, they made $770,000 in revenue, with a $32,000 profit. They expected to hit $1 million by the end of 2023. When selling directly to consumers, each treat costs them $1.92 to make. They sell them for about $6 each. But customers usually buy them in packs of 6, 12, or 14. On average, customers spend $80 per purchase.
At the 2023 Summer Fancy Food Show in New York City, the couple openly expressed their desire to grow beyond just the West Coast. They probably want assistance from a Shark to help them expand further. Kevin O’Leary suggested they use a co-packer for a bigger impact, but Barbara Corcoran warned against it for these types of products.
Kevin offered $200,000 for 20% ownership but wanted to work with a co-packer. Mark Cuban went out after noticing one cookie had 300 calories. Barbara proposed $100,000 cash and $100,000 credit for 15% ownership, citing her success with other food companies. Lori Greiner liked the products but agreed with Mark about the calories, and he decided not to invest.
Guest shark Jason Blum asked to join Kevin’s offer, and they both proposed $200,000 for 20%. There was a debate between Barbara, Jason, and Kevin. Barbara thought it was too early to leave the business, while Jason and Kevin believed it was time for a co-packer. However, guests Shark and Kevin couldn’t make the deal.
Maurizio offered $400,000 for 15% ownership, but Barbara declined. Then, Saphira countered Barbara’s initial offer at 12.5% ownership, valuing the company at $1.6 million Barbara accepted it, and the couple partnered with her.
| Company Name | Nowhere Bakery |
| Founders | Maurizio and Saphira Rasti |
| Business | Healthy bakery product |
| Episode | Season 15, Episode 18 |
| Asked Deal | $200,000 for 5% equity |
| Final Deal | $200,000 for 12.5% equity ($100,000 as cash, and $100,000 as a line of credit, for 12.5% equity) |
| Shark | Barbara Corcoran |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Costa Mesa, California, USA |
What Happened to Nowhere Bakery after Shark Tank?
As of March 2024, the Nowhere Bakery is still in business. The couple started their bakery with only $400 in March 2020, right before the Covid-19 pandemic hit. After the TV show, their company was valued at $1.6 million.
They’re currently selling in 75 stores and most of their sales are in California. Their cookie, brownie, and blondie mixes are sold online on Amazon for $15.99. On their website, you can buy the mixes and pre-made cookies for $36 for a pack of six or $68 for a 12-pack.
For a more budget-friendly option, customers can buy the chocolate chip cookie mix. Each mix makes 15 cookies and costs about $15. They also offer a sugar cookie mix. Local customers can conveniently pick up their orders at the Costa Mesa offices.
Maurizio and Saphira are getting more popular on social media. They got even more famous after being on Shark Tank. Now, with Barbara on their team, they can do even better. Also, Judge.me gave Nowhere Bakery a really good rating of 4.86 out of 5 stars. They got this rating from over 1,800 reviews.
Nowhere Bakery Founders
Maurizio and Saphira Rasti are the founders of Nowhere Bakery. The company started in 2020. They are a husband and wife duo.
Saphira learned about the Fashion Business at the Melbourne School of Fashion from 2008-2009. During that time, she focused on Marketing, Buying, and Textiles. Subsequently, she pursued a diploma in Nutritional Medicine from Shaw University, enhancing her skills further.
She also engaged in SYOB activities, which contributed to her diverse expertise. Consequently, her knowledge base expanded significantly, facilitating a holistic approach to her career development
Additionally, she studied Health Coaching at the Institute for Integrative Nutrition. Before co-founding Nowhere Bakery, she worked at The Photo Studio and served as CEO of NeuDayCo until 2020. She also spent over 10 years developing recipes at Peanut Head.
Maurizio went to The Ohio State University. There, he studied Business, Management, and Marketing. Before starting Nowhere Bakery with his wife, he worked as a Visionary for Incubate Pictures under a contract.
Nowhere Bakery Achievements and Awards
| Year | Achievements and Awards |
| 2022 | In 2022, the company won the Shelfie Award (For best-selling item) |
| 2024 | The company was featured on Shark Tank Season 15 and got the deal from Barbara Corcoran |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Nowhere Bakery was one of the ventures featured on the show. They made a deal with Barbara Corcoran, 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 18.
