What is Slice of Sauce?
Slice of Sauce offers condiments in a slice format. It was launched by duo Emily and Cole Williams, the company has redefined the way people use sauces, making them portable, mess-free, and shelf-stable. In late 2021 after its appearance on Shark Tank, company closed due to maintaining its production and demand due to shortage of funds and ultimately it had to be closed. Here’s a closer look at the journey of Slice of Sauce, their financial milestones, and their unique impact on the industry.
Founders and Origin
To solve the everyday condiment issues Emily and Cole Williams co-founded Slice of Sauce. It was Inspired by a family recipe for BBQ sauce, the pair innovated a method to dehydrate condiments into slices, ensuring convenience without compromising flavor. Their entrepreneurial spirit had driven the company to stand out in the competitive condiment market.
Slice of Sauce on Shark Tank
In March 2021, Slice of Sauce made its appearance on Shark Tank Season 12. Alex Rodriguez liked their idea of dehydrate condiments, who offered a $200,000 investment as debt, convertible to a 20% equity stake once the company reached $1.8 million in sales. The appearance was exciting, bringing not only capital but also created massive brand recognition.
Shark Tank Deal Pitch Details
| Aspect | Details |
|---|---|
| Season | 12 |
| Air Date | March 19, 2021 |
| Ask | $200,000 for 10% equity |
| Deal | $200,000 as debt, convertible to 20% equity |
| Investor | Alex Rodriguez |
Current Net Worth and Financial Growth
Since its Shark Tank appearance, Slice of Sauce achieved remarkable growth, with an estimated net worth of $2 million as of 2021. The company experienced a significant boost in sales and expanded its product line to include various flavors but due to production and unstable demand and supply it couldn’t run in the long run and it had to be closed in late 2021.
Key Accomplishments
| Achievement | Details |
|---|---|
| Retail Partnerships | Established deals with multiple U.S. retailers |
| Innovation | Introduced new flavors and eco-friendly packaging |
| Market Presence | Expanded distribution across the U.S. |
| Customer Base | Gained loyal following among health-conscious users |
Why Slice of Sauce Stands Out
- Convenience: No mess, no refrigeration required, and perfect for on-the-go use.
- Sustainability: Reduced waste through shelf-stable packaging.
- Flavor Innovation: Diverse flavor options appeal to a wide audience.
Is Slice of Sauce still in business?
After a Shark Tank appearance in 2021, where it secured a tentative deal with Alex Rodriguez, the company faced manufacturing challenges, inventory shortages, and delays in fulfilling pre-orders. By late 2021, it had ceased operations, with its website and social media going inactive. The product struggled to scale production and maintain demand, ultimately leading to its closure.
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