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Grinds Details
Shark Tank Episode Details
The Shark Tank Pitch
Grinds appeared on Shark Tank Season 4 as an innovative health-focused alternative to chewing tobacco, created by baseball buddies Pat Pezet and Matt Canepa. The product consisted of flavored coffee pouches designed to be chewed like tobacco but containing only coffee grounds, providing caffeine energy without the health risks associated with tobacco products.
The idea originated from the entrepreneurs' college habit of chewing coffee grounds for energy and their observation of widespread chewing tobacco use in baseball. Each pouch contained the equivalent of one-quarter cup of coffee in terms of caffeine content, offering a familiar delivery method for tobacco users seeking a healthier alternative.
The business had grown from $3,500 in sales in 2010 to $135,000 in 2011, with projections of $300,000 for 2012, demonstrating consistent growth and market validation. The product gained significant credibility when Bruce Bochy, then manager of the World Series-winning San Francisco Giants, contacted the founders to say their product had essentially saved his life by providing an alternative to tobacco.
Where Are They Now?
Grinds secured a deal on Shark Tank with Daymond John and Robert Herjavec for $75,000 in exchange for 15% equity, with the Sharks recognizing the product's potential in the tobacco alternative market.
However, the deal ultimately did not close after the show, which is common for Shark Tank investments. Despite this, the company continued to grow independently, building on the exposure and validation from the show.
The business demonstrated remarkable resilience and growth potential, making significant investments in infrastructure and expansion. In 2019, Pat and Matt invested $6.7 million to relocate their production, fulfillment, and distribution center to Westfield, Indiana, indicating substantial business growth and commitment to scaling operations.
The company successfully established itself in the tobacco alternative market and continued expanding its product line and distribution channels. As of 2023, Grinds remains in business with an estimated annual revenue of $5 million, available for purchase through their website and Amazon, proving that the business model for providing a healthier alternative to chewing tobacco has found sustainable market demand.
Revenue
$5 million
