Malone & Co.
According to Becky App and Abby Jordan, the founders of eCreamery in Omaha, Neb., "you can not have a frown on your face when you're eating ice cream" which is part of the reason why they started the company. It allows customers to design their own ice cream flavors, name their flavors and send the customized ice cream as a gift. They asked the sharks for $250,000 for 33 percent equity. The sharks raved about the ice cream but ultimately did not offer a deal for various reasons.
What has the company been up to since appearing on "Shark Tank" and what was left on the cutting room floor? CNBC catches up with the women behind eCreamery.
Malone & Co.
From left: E-Creamery founders Abby Jordan and Becky App
How did you prepare yourselves for pitching the sharks on "Shark Tank"?
We took the preparation very seriously. We worked on our pitch for several months and held three mock Q&A sessions with a group of friends and business associates that have experience in VC and investment banking. They were as tough as the sharks.
There was a big moment, when Mark Cuban said, "First there's the innovators, then there's the imitators, then there's the idiots." … What were you thinking during that pause?
Abby and I have both admitted every muscle in our bodies was clenched during that pause which seemed to last an eternity. It was absolutely a feeling of relief to receive the praise of being an "innovator" by Mark Cuban's standards. Even now two years later, we appreciate that Cuban could so quickly thin-slice the potential of our product. We still like to toss the title "Innovator" around the office as a reminder of that moment.
What has been the impact to your business since being on "Shark Tank?"
Our appearance on "Shark Tank" was the tipping point for us. We had asked for $250,000 capital for 33 percent equity. After the first airing, we had over $250,000 revenue over the next three months—and we didn't have to lose any equity.
In the last two years we have expanded to an East Coast distribution center, diversified our product offerings and had double-digit growth online and in the brick-and-mortar parlor. Warren Buffett and Sir Paul McCartney even stopped in the parlor last month to try the vanilla bean! It has honestly been a dream come true.
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Were there any moments that didn't make it into the show?
Barbara was very complimentary and told us we didn't need them; we needed a loan. She went on in specific detail of steps we should take to prepare our business for "the boom" that would hit us when the episode aired. She even followed up with us after the taping with an email of advice on how to best capitalize on the exposure. We were floored at her genuine selfless interest in helping us. Honestly, we were impressed with the sincere integrity of all the sharks.
What was the biggest surprise about being on "Shark Tank?"
Another surprise was the worldwide fan following of "Shark Tank." We received and still receive emails from around the world from "Shark Tank" viewers that just want to say "great job ladies!" to offer investments or want to open franchisees as far off as Dubai. Words of encouragement come/came from all corners of the world—talk about motivating! Like, we said on the show, who doesn't like ice cream?
Can't get enough "Shark Tank?" Now you can see the sharks in action every weeknight on CNBC. Monday - Friday at 8p ET.
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