Grinds Coffee Shark Tank Summary
|Episode||Season 4 Episode 15|
|Business||Pouches of flavored coffee alternative to chewing tobacco|
|Entrepreneur||Matt Canepa and Pat Pezet|
|Asked For||$75,000 for 10%|
|Accepted Offer||$75,000 for 15%|
|Shark||Daymond John and Robert Herjavec|
|Business Status||In Business|
What is Grinds Coffee?
There’s a unique way of kicking the tobacco habit – chewing on Grinds Coffee Pouches. Grinds are small pouches packed with flavourful coffee containing B-vitamins and Taurine that provide an energy boost.
Grinds Coffee Pouches come in cans and have the same caffeine content of four to five cups of coffee.
Who Owns Grinds Coffee?
Grinds founders Matt Canepa and Patrick Pezet attended the California Polytechnic State University, where they achieved degrees in business and finance. The two entrepreneurs were also minor league baseball players, which played a part in their inspiration for Grinds Coffee Pouches. Canepa played baseball professionally for the Chicago Cubs.
Late into the night, both Canepa and Pezet were up trying to complete an economics project. To stave off the drowsiness of sleep, they put wads of coffee in their mouths in a way similar to consuming a chaw of chewing tobacco.
Canepa and Pezet began to feel energized and seemingly got their creative juices flowing too. It started to dawn on them that they could turn the coffee wads into a marketable product, especially as a healthy alternative for baseball players who chew tobacco.
Grinds Coffee Pouches as a successful business was the result of their late-night epiphany. The branded coffee pouches are available in a variety of flavors and can be purchased online. They are also a staple in 20 major league baseball clubhouses.
Canepa and Pezet appeared on Shark Tank seeking investment to help Grinds Coffee Pouches grow as a business. After some negotiation, they managed to land a deal with two of the Sharks.