SEASON 9 EPISODE 22
line of coffees, espressos, and creamers made of organic coffee, coconut oil and whey protein
Jake, Jordan and Jim DeCicco
$500,000 for 4.5%
Alex Rodriguez (After)
Every athlete needs a drink after a strenuous session. Jordan did not like the sugar-loaded beverages the basket players were being sold to as an athlete and decided to do something about it. After several failed efforts in his dorm, he summoned his two brothers, who saw it as a good idea and immediately picked it up.
Kitu Life’s Story
Jordan, who is the youngest of the three bothers thought of Super Coffee after realizing that the ready to drink beverages they were taking near Philadelphia University (where he used to play basketball) was loaded with sugar. After enlisting his two brothers, they started the business of making something better. In the first two years into the industry, the brothers had recorded $600,000 in sales.
The brothers aimed at coming up with a healthy alternative to the overly sugared energy drinks and bottled coffee. As a result, they decided to make their option from Colombian organic beans. Kitu Super Coffee comprises lactose-free proteins and healthy fats from coconut oil.
Jake, Jordan and Jim DeCicco came to pitch their idea on Shark Tank with the hope of getting $500,000 for 4.5% equity but were denied a deal. However, their vision did not sink. The trio amassed online clients and a pool of investors who supported Kitu Super Coffee with funds or the distribution channel.
Kitu Super Coffee After Shark Tank
Since the brothers’ episode on Shark Tank, their company has changed from Kitu Super Coffee to Kitu. The company has launched super coffee without sugar and Super Creamers. Super Creamers, a line of dairy-based creamers with whey protein and coconut oil, is available in vanilla, hazelnut and unsweetened flavors.
The company’s sales have tripled since 2016, making a peak of $26 million in 2019. The company is foreseeing approximately $70 million in revenue by the end of 2020 and $150 million in 2021. In February 2018, the company’s online sales doubled compared to the previous year, thanks to the Shark Tank effect. Though the DeCicco’s could not strike a deal with any shark on the televised show, it became the best-selling coffee in Wegmans, outselling Starbucks Frappuccino.
After the three brothers’ appearance on Shark Tank, Arnold Schwarzenegger’s son Patrick Schwarzenegger joined its investor base in 2018. Aaron Rodger-backed Rx3 Ventures, too joined the company in December 2019. The latest investor who joined the impressive list of Kitu Super Coffee investors was former NBA all-star Baron Davis. Davis, who invested in the coffee business this year in March, stated that he decided to invest with the DeCicco’s because he saw the trio as a success story worth his investment.
Kitu Super Coffee is available in close to 20,000 retail shops across the US including Whole Foods Market, Wawa retailers, Wegmans and Walmart Inc. The rapidly growing coffee company raised $25 million in a round of fundraising. Led by Skyview Capital, these funds drive ended July 2020, and Super Coffee is currently valued at more than $200 million. ZX Ventures who also participated in the fundraising and AB InBev helps in the coffee’s countrywide distribution.
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