Everyone has been indoctrinated to believe that breakfast is the most crucial meal of the day. But when the mornings are so hectic, who even has time for breakfast? In today’s world, breakfast is typically consumed in a hurried manner, or it is just skipped altogether.
Go Oats is an innovative new twist on oatmeal that provides a wholesome and satisfying breakfast in the form of oatmeal balls that are simple to consume. Go Oats really is “oatmeal in a ball,” living up to the company’s name; you don’t even need a bowl or a spoon to eat it!
Continue reading to learn which Shark invested in Go Oats and how the company is performing now as a result of receiving funding from that particular Shark.
How Much is Go Oats Net Worth?
Earnings and Revenue of Goats in September of 2023 reached $800,000 and are continuing to rise. During the period of COVID-19, his sales were falling by a significant amount; however, now that he has developed a new strategic plan, he is working to increase the number of sales of the product.
There are currently more than 20 Hainan’s and more than 60 Whole Foods stores located in 7 different states in the United States that stock it.
What is Go Oats?
GoOats oatmeal bites are a quick and easy way to eat healthy cereal. It comes in either a box that can go in the oven with 3 balls or a box with 9 balls. Breakfast of three balls is full and only has 107 calories. There are four different types of these healthy oatmeal balls: cinnamon, maple brown sugar, blueberry, and cran-walnut.
The outside of the oat balls is crunchy, and the inside is smooth. They are only made with natural tastes and have no artificial additives to keep them fresh. People say that they are good sources of calcium, protein, fiber, and vitamins. To get them ready to eat, all you have to do is heat them up quickly in the oven, air fryer, or microwave.
On the first day of fall, you can enjoy sweater weather and pumpkin spice oatmeal-in-a-ball:
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Who is the Founder of Go Oats?
American citizen Nahum Jeannot, originally from Alexandria, Virginia, founded Go Oats. In addition to the Founder of the Go Oats business, there is also a chef.
He graduated from The Restaurant School at Walnut Hill College with a BA in Culinary Arts and Related Services/Hospitality Management.
He worked at Goodwinhouse Baileys Crossroads for three years after finishing school. The Hyatt Regency Tysons Corner Center once employed him as its banquet chef. He’s quit his job to launch this company.
Go Oats Before Shark Tank
Even before Shark Tank debuted, Go Oats was making sales. You can get it either online or in a physical store. This product has been well received by consumers and can be found in major supermarkets.
More than a hundred shops around the country stock their wares. Dawsons Market, Gelson’s, Meijer, Vons, Whole Foods Market, etc. carry this label’s items.
How Was the Shark Tank Pitch of Go Oats?
When Go Oats’ founder, Nahum Jeannot, appeared on Shark Tank, he had a specific goal in mind: to raise $150,000 in exchange for a 10% equity stake in his firm, valuing it at $1.5 million. Given the increasing value of the oats business, Jeannot delivered a persuasive proposal that focused on the distinct advantages of Go Oats, its current market presence, and its potential for future expansion.
Here you can watch a short pre-cap of Go Oats appearance in Shark Tank:
Go Oats, which is essentially oats delivered in a unique, easy-to-consume format, won over the panel of “Sharks” with its flavor and ease of use. However, they also voiced concern over the $1 per unit price tag of the product. The future scalability of the firm was a major factor in this worry about profitability.
In spite of these concerns, Barbara Corcoran, a Shark who has made several profitable investments in the food market, recognized an opportunity in Go Oats and agreed to invest in the company. Instead of investing $10,000, she proposed $150,000 in exchange for a 25% stock position.
Jeannot and Corcoran came to a swift agreement, with the former investing $150,000 in exchange for 20% of Go Oats and the latter providing advisory services. As a result, Go Oats was able to raise the capital it needed, but at a steeper equity cost. Jeannot thought that with Corcoran’s funding, Go Oats would be able to grow its presence in big retailers and obtain a larger consumer base thanks to Corcoran’s relationships in the sector.
Did Go Oats Get a Deal on Shark Tank?
There was a transaction made for Go Oats on Shark Tank. The show’s 12th season featured an appearance by Nahum Jeannot, the company’s creator, who was looking to raise $150,000 in exchange for a 10% equity position. The Sharks liked the product, and they especially liked the microwave and oven-safe packaging. Jeannot’s business skills, however, were a source of concern.
Barbara Corcoran struck a deal with Jeannot over the reluctance of the other Sharks. She granted him the $150,000 he needed, but in exchange, she demanded 25% ownership of the business. They eventually agreed to give Corcoran a 20% ownership after some back-and-forth. On Shark Tank, Go Oats was able to get Barbara Corcoran to invest in their company.
Go Oats After Shark Tank
In October 2020, when GoOats was on the show “Shark Tank,” the company’s fame went through the roof. Because of the high demand, Amazon ran out of all kinds and had to put up waitlists for people who wanted to order more.
After the Shark Tank show aired, Jeannot reached out to customers through GoOats’ Instagram and Facebook pages. He told customers what goods were sold out and reassured them that the company would always do its best to get their orders to them quickly.
GoOats is working hard to get through its backlog of orders while also increasing production to keep up with rising demand.
How is the Go Oats Founder Doing Today?
Nahum Jeannot was a chef before COVID-19, but he was laid off. However, he won the lottery with Go Oats and is now a multi-millionaire. Jeannot presently receives a salary of $100,000 from the company. Furthermore, he annually profits more than $500,000 at his own expense.
Jeannot surprised himself by buying a fresh new Mercedes AMG, which cost more than $290,000. Through a mortgage from Citi Bank, he also acquired a home in the Big Apple.
Discover the financial paths that other celebrities who have starred on Shark Tank have taken by reading our highlighted articles on net worth, which are as follows:
- P-nuff Crunch Net Worth: The Healthy Snack That Impressed Mark Cuban!
- SoaPen Net Worth: From Shark Tank to Millions in Sales(2023)
Is the Go Oats Shark Tank Still in Business?
Yes, Go Oats is still in business after appearing on Shark Tank. In addition to the maple brown sugar, blueberry, and apple cinnamon flavors seen on the show, the company has added strawberry to its list of flavors. Go Oats goods are still sold at Whole Foods and can now also be found at Albertson’s, Dawson’s Market, Gelson’s, Sprouts Farmers Market, and Heinen’s, among other stores. In 2022, the net worth of the company is $800,000 and is still going up.
During COVID-19, sales of Go Oats were going down, but they have since gone back up. The founder of the company, Nahum Jeannot, won SCORE DC’s 2020 Perfect Product Pitch and was coached by the group for two years. He says that this helped him grow his business and be successful. There are more than 100 stores in the US that sell the goods, including Costco.
Even though Barbara Corcoran made a deal with Go Oats on Shark Tank, the deal never went through. The Sharks liked the company’s samples, especially the package that could be heated in the microwave or oven. Jeannot asked the Sharks to spend $150,000 for 10% of the company’s equity. Barbara Corcoran decided to invest in the business and take 20% of the company’s equity.
Frequently Asked Question
What Happened to Go Oats After “Shark Tank”?
Go Oats has grown by 25% every month since it was on Shark Tank, and it now makes $390,000 in sales every month.
How Much Money Does Go Oats Make Each Year?
Go Oats makes $4 million in sales every year.
Who Owns the Go Oats?
Nahum Jeannot started Go Oats, and he owns 70% of the company.
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