Modern Picnic’s Shark Tank Experience
“Modern Picnic founder Ali Kaminetsky may have left the Tank without the $400,000 investment she sought, but she says the advice she received on the show was invaluable.”
Modern Picnic founder and CEO Ali Kaminetsky. Photo: Courtesy ABC via Modern Picnic
Check out this business savvy article about our amazing client, Modern Picinic: "This Founder Went on 'Shark Tank' Looking for a Deal. She Came Away With Something Better.”
Ali talks about preparing for the show and the takeaways that boosted business without the coveted “yes”.
A "no" isn't always a bad thing in business--especially if you know how to make the most of it.
That's what Ali Kaminetsky, founder and CEO of the New York City-based cooler brand Modern Picnic, learned when she appeared on Shark Tank on an episode that ran on February 2. Presenting to Sharks Kevin O'Leary, Mark Cuban, Robert Herjavec, Lori Greiner, and Emma Grede, Kaminetsky asked for an investment of $400,000 for a 6.5 percent equity stake. Although she left the tank without a deal, she received something just as valuable: Sound business advice that she says has helped her brand get closer to profitability.
Launched in 2018, Modern Picnic has sold more than 40,000 units to date, amounting to $6 million in lifetime sales, Kaminetsky told the Sharks. The company had previously raised $1.8 million from investors and projected $2 million in revenue in 2023 with a 60 percent margin.
While Kaminetsky walked away from the show without a deal, she says that the experience has transformed her business for the better. She shares how she prepared for the experience and applied the Shark's lessons after she left.
Read the full article here!
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