Shark Tank Sip Herbals, a herbal tea company founded by Orleatha Smith and Kelly Raulerson, telecasted Shark Tank USA in 2024 on Season 15. The founders were seeking $100K for 10% equity. Unfortunately, they couldn’t secure a deal with any of the Sharks. In this article, we will explore Sip Herbals Net Worth in 2024, its Shark Tank pitch summary and more.
Sip Herbals Net Worth
As of January 2024, Sip Herbals’s estimated net worth is $1 million, and its annual revenue is $250K.
| Net worth | $1 million *estimated |
| Annual Sales Revenue | $250K |
| Profits | Not Available |
| Lifetime sales | Not Available |
| Employees | 2-10 employees |
Sip Herbals Net Worth Timeline
| Net Worth 2024 | $1 million |
| Net Worth 2023 | $800K |
| Net Worth 2022 | $500K |
Shark Tank Sip Herbals Update from Season 15
Orleatha Smith and Kelly Raulerson started Sip Herbals in 2020. Orleatha was on the Season 15 finale of Shark Tank, but Kelly didn’t participate. So, Orleatha had to launch the pitch alone on Shark Tank. Orleatha started her pitch by describing her product. She was seeking $100,000 for 10% equity of the company, valuing it at $1 million.
She explained the product and its ingredients. Sip Herbals makes herbal tea for people who want to cut down on coffee. There, she also mentioned that many people feel their morning isn’t complete without coffee.
Orleatha finished her pitch by asking the sharks if they wanted to help people enjoy their daily routine with Sip Herbals. She then offered them three flavours to try.
Kevin O’Leary asked about the market size. Orleatha said that 20% of Americans can’t tolerate coffee. He then asked if you believed your product could capture that 20% market share. There, Orleatha explained that some people would never give up coffee. At the moment, guest Shark Candace Nelson agreed with Orleatha and said that she was one of those people.
Candace, a coffee lover, was impressed by the pitch but curious about how Sip Herbals could taste like coffee without caffeine. Orleatha explained that her product contains chicory dandies and caffeine-free coffee alternatives.
Kevin asked if she made any profit from it, and Orleatha confidently replied yes. Also, She said it costs about $3 to make a Sip Herbals bag, but they sell it for $19 to $24. Mark applauded her for this.
Candace inquired about Orleatha’s vision for the brand. Orleatha explained that the brand aims to help people reclaim a healthy and enjoyable morning routine. She also wanted people to start their day with a drink that’s good for them instead of one that might make them feel bad. But despite her passionate pitch, the sharks weren’t interested.
Lori Greiner liked the idea as a customer but wanted to refrain from investing, so she decided to exit the deal. Daymond John liked the idea but didn’t think it was the right fit for him, so he also opted out. Mark Cuban also didn’t see it as an investment opportunity, so he decided not to invest. Guest Shark Candace didn’t feel the business matched her interests, so she also exited the deal.
Kevin mentioned that investing $100,000 for either 10% or 20% equity wouldn’t likely lead to quick profits. He wished Orleatha good luck but decided not to invest. Finaly, Orleatha didn’t secure a deal and had to leave the show without a deal.
| Company Name | Sip Herbals |
| Founders | Orleatha Smith and Kelly Raulerson |
| Business | Coffee alternative |
| Episode | Season 15, Episode 22 |
| Asked Deal | $100K for a 10% equity |
| Final Deal | No Deal |
| Sharks | No Sharks |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Gresham, Oregon, United States |
What happened to Sip Herbals after Shark Tank?
As of May 2024, Sip Herbals is still in business. After appearing on Shark Tank, Sip Herbals sales significantly increased. Additionally, Sip Herbals received a Comcast Rise Grant, part of a program that has provided over $100 million in funding to Sip Herbals and over 13,000 other businesses. However, they faced challenges like production issues, which caused them to struggle financially.
Despite this, they’re still working hard to grow their business and educate people about coffee alternatives. They offer various flavours like peppermint mocha, cinnamon roll, salted maple blonde signature roast, royal mocha, French vanilla, and dirty chai. It’s also keto-friendly, suitable for the AIP diet, contains prebiotics, and is environmentally friendly.
Their main product, Faux Joe, helps to avoid the jitters and anxiety that coffee can cause. Faux Joe is a herbal coffee substitute made from chicory root, carob, and dandelion root. It tastes like coffee but doesn’t cause the usual adverse side effects. It’s perfect for people who want a calm morning drink without regular coffee.
Sip Herbals Faux Coffee ranges from $10 to $30. For example, a 1-ounce packet with six servings costs $10, while a larger 6-ounce packet with 30 servings costs $24.99. Currently, a promotion offers a 10% discount on all purchases.
Customers can purchase all Sip Herbals products directly from the brand’s official website or through Amazon. The herbal teas from Sip Herbals have received positive feedback and reviews on their website.
Also, after appearing on Shark Tank Season 15, they got over 5,000 followers on Instagram. Their tea products have been featured in various media outlets, including Essence, Fox, NBC News, and MarketWatch, strengthening their presence in the market.
Sip Herbals Founders
Orleatha Smith and Kelly Raulerson founded Sip Herbals in 2020. Their idea for Sip Herbals came from realizing that their daily coffee consumption harmed their health. They were concerned about coffee’s adverse effects like anxiety, jitteriness, high caffeine, and environmental issues.
After ten years of studying and promoting the benefits of real food for well-being, they aimed to create an inclusive, environmentally friendly alternative to coffee that benefits both health and the planet.
Sip Herbals co-founder Orleatha Smith is a skilled herbalist. She has a master’s degree in education and a teaching credential in biology. She’s passionate about inclusive wellness practices based on science.
After quitting morning coffee for autoimmune issues, she felt anxious, had chills, and had stomach problems daily. She began scrutinizing every coffee ingredient for alternatives. Through her efforts, she was able to create a tea with a similar roasted flavour and aroma but without caffeine, using ingredients people often avoid.
Kelly co-founded Sip Herbals and is the content director for A Girl Worth Saving a popular recipe blog. She also helped establish and manage InclusivePay, a payment processing company. Kelly’s expertise includes sales, negotiation, customer relations, marketing, product development, operations, customer service, and finance. Also, She enjoys learning and facing new challenges.
Sip Herbals Achievements and Awards
| Year | Achievements and Awards |
| 2024 | The company was featured on Shark Tank Season 15 |
Conclusion
Shark Tank is a TV show that showcases different business ideas and helps them succeed. Sip Herbals was one of the ventures featured on the show. Despite losing a deal, the company showed that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates inSeason 15, Episode 22.
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