Crystal City-based “super coffee” company Sunniva was featured on ABC’s Shark Tank last night, but its three Arlington co-founders walked away without a deal.
Two of the show’s venture capitalist “sharks” were interested in a deal, but both real estate mogul Barbara Corcoran and millionaire marketing expert Rohan Oza said that they didn’t like the beverage’s aftertaste. The proposed deal was $500,000 for a 4.5% stake in the company – which meant that the three-person team was valuing their two-year-old coffee company at approximately $11 million.
The cost to create the product is $1.05 per bottle, which the company sells to distributors for $1.85 per bottle. Its shelf price is $3.29, which is less than the $4.99-$7.99 range that premium coffee beverages with ingredients like coconut oil sell for, according to the brothers.
The founders, Jake, Jimmy, and Jordan DeCicco, are brothers. Jordan dropped out of college and Jimmy left his job in order to develop what they call “super coffee.”
“At the end of the day, I’m doing this with my two little brothers. It’s love, it’s trust, it’s hustle, it’s competition. And no coach, no shark, no boss can tell us otherwise,” said Jimmy DeCicco at the end of their Shark Tank feature.
Their brew is a blend of organic Colombian coffee, 10 grams of lactose-free proteins, and coconut oil. The coffee comes in several flavors, including maple hazelnut and vanilla bean.
Photos via ABC’s Shark Tank