An entrepreneur rarely pops in with as much enthusiasm as Nadine Habayeb did on “Shark Tank.” Appearing in “Shark Tank” Season 11, Episode 17, Habayeb took on bagged and microwave popcorn with her snack company Bohana, which she co-founded with her friend Priyal Bhartia.
Bohana sold roasted water lily seeds as a healthy snacking alternative. Since its debut on “Shark Tank,” Bohana has seen a rollercoaster of success, struggles, and a recent acquisition. Let’s dive into the details of Bohana’s net worth and its journey so far.
Who is Bohana?
Bohana is a snack company founded in 2017 by Nadine Habayeb and Priyal Bhartia. The company’s mission is to introduce a healthy and delicious alternative to traditional popcorn by selling roasted water lily seeds, known as makhana, in India.
Makhana has been consumed in India for centuries, but Habayeb and Bhartia saw an opportunity to bring this superfood to the United States. Bohana’s products are non-GMO, gluten-free, and low in calories, making them a popular choice for health-conscious consumers.
| Category | Details |
|---|---|
| Company Name | Bohana |
| Founded | 2017 |
| Founders | Nadine Habayeb and Priyal Bhartia |
| Product | Roasted water lily seeds (makhana) |
| Mission | To provide a healthy, non-GMO, gluten-free, low-calorie alternative to traditional popcorn |
| Target Market | Health-conscious consumers |
| Initial Valuation | $2 million |
| Acquisition | Acquired by Vimal Kansara in late 2022 |
Who Is The Founder Of Bohana?
Nadine Habayeb and Priyal Bhartia co-founded Bohana. Habayeb is a marketing consultant who became interested in the water lily seeds after Bhartia, her friend, introduced her to the snack. Bhartia, who has experience in the supply chain and agriculture industry in India, recognized the potential of makhana and the lack of awareness about this superfood in the United States. Together, they launched Bohana in 2017 to bring this unique and healthy snack to the American market.
How Was The Shark Tank Pitch Bohana?
Bohana’s appearance on “Shark Tank” in 2020 was pivotal for the company. Nadine Habayeb, representing the company alone as Priyal Bhartia was pregnant then, pitched Bohana to the Sharks, asking for $200,000 in exchange for a 10% stake. The Sharks were immediately impressed by the unique product, the nutritional value, and the brand’s potential.
After some back and forth, Habayeb faced two competing offers from the Sharks. Barbara Corcoran offered $200,000 but wanted a 30% stake in the company. Meanwhile, Kevin O’Leary offered the $200,000 loan with a 9% interest rate to be repaid over three years in exchange for an 8% equity stake. Ultimately, Habayeb accepted O’Leary’s offer, valuing the importance of retaining more equity in the company.
Bohana Shark Tank Update:
Bohana’s “Shark Tank” episode aired in March 2020, just as the COVID-19 pandemic began taking hold in the United States. Like many businesses, Bohana faced significant challenges during this time, as the pandemic disrupted production, supply chains, and in-store sales. The company’s usual strategy of in-store demos and sampling was no longer possible, which proved to be a significant obstacle in educating consumers about the benefits of water lily seeds.
Despite these challenges, Bohana managed to weather the storm and even experienced significant growth. After the “Shark Tank” episode aired, the company reported a 500% increase in sales. Bohana’s products were featured on QVC, selling out of 4,000 units in under six minutes. The company also expanded its product lineup, adding new flavors such as Sweet Cinnamon Drizzle and Sea Salt Chocolatey Drizzle.
What Happened To Bohana After Shark Tank?
Following their successful appearance on “Shark Tank,” Bohana continued to grow and expand its presence. The company’s products are available on its website, Amazon, and in various health food stores, primarily in the Northeast region of the United States.
However, in recent years, Bohana has gone relatively silent. As of 2023, the company’s website indicates that its products are currently out of stock, and its social media channels have been dormant since 2021. This has led to speculation about the company’s future.
In a 2022 LinkedIn post, co-founder Nadine Habayeb announced that Vimal Kansara, the owner of Texas-based distributor Boon Distribution, had acquired Bohana. Habayeb and her co-founder, Priyal Bhartia, have since moved on to other ventures, with Habayeb working as a marketing consultant and Bhartia holding executive roles at companies in India.
Bohana Net Worth:
Bohana’s net worth is not publicly disclosed, as the company is no longer publicly traded. However, we can make some educated estimates based on the available information:
- In 2020, Bohana was valued at $2 million, as evidenced by the $200,000 investment for a 10% stake Nadine Habayeb sought on “Shark Tank.”
- After the “Shark Tank” episode aired, the company reported a 500% increase in sales, indicating significant growth.
- However, the recent acquisition and the company’s current out-of-stock status suggest that Bohana’s net worth may have declined from its peak.
While the exact net worth is unknown, it’s clear that Bohana has experienced a rollercoaster of success and challenges since its inception, and its current value remains uncertain under the new ownership.
| Category | Details |
|---|---|
| Pre-Acquisition Valuation | Estimated around $2 million based on Shark Tank investment and growth trajectory |
| Post-Acquisition Status | Recent acquisition suggests a possible decline in net worth due to operational and supply challenges. |
| Operations | Focused on lean supply chain and quality control |
Bohana Growth and Operations:
Bohana’s growth trajectory has been a mix of successes and setbacks. The company experienced a significant boost in sales and exposure after its appearance on “Shark Tank,” with a reported 500% increase in revenue. This growth was fueled by the company’s ability to expand its distribution channels, including online platforms like Amazon and Walmart.com and traditional retail stores, primarily in the Northeast region.
Regarding operations, Bohana focused on maintaining a lean and efficient supply chain to ensure the quality and consistency of its water lily seed products. The company’s co-founders, Nadine Habayeb and Priyal Bhartia, leveraged their marketing, supply chain management, and product development expertise to drive the business forward.
However, the COVID-19 pandemic posed significant challenges for Bohana, as lockdowns and safety measures disrupted the company’s reliance on in-store demos and sampling. Despite these obstacles, Bohana managed to adapt and continue growing, demonstrating the brand’s resilience.
Bohana Marketing and Sales:
Bohana’s marketing and sales approach centered on educating consumers about the benefits and unique properties of water lily seeds. The company’s branding emphasized the snack’s healthier profile compared to traditional popcorn and its Ayurvedic roots and sustainability.
Bohana employed a multi-channel strategy to drive sales, leveraging both online and brick-and-mortar channels. The company’s products were available on its Amazon website and in select health food stores, primarily in the Northeast. Additionally, Bohana engaged in in-store demos and sampling events to introduce the product to new customers and generate excitement.
The company’s appearance on “Shark Tank” was a significant marketing coup, as it not only provided valuable exposure but also helped validate the product and brand in consumers’ eyes. The positive reception from the Sharks and the subsequent sales growth demonstrated the effectiveness of Bohana’s marketing and sales approach.
Bohana Social Media Presence:
Bohana’s social media presence has been a mixed bag. In the early years after its “Shark Tank” debut, the company maintained an active presence on platforms like Instagram and Facebook, sharing content about the brand, its products, and the health benefits of water lily seeds.
The company’s social media channels showcased its vibrant, colorful aesthetic and engaged with its growing customer base. Bohana leveraged social media to share product updates, announce new flavors, and promote its online and retail availability.
However, Bohana’s social media presence has waned significantly in recent years. The company’s last Instagram post was in the summer of 2021, and its Facebook page has been dormant since then. This lack of social media activity and engagement has led to speculation about the company’s current plans.
| Category | Details |
|---|---|
| Social Media Activity | Active in early years post-Shark Tank Last posts in the summer of 2021 Inactive since 2021 |
| Platforms Used | Instagram, Facebook |
| Engagement | Initially vibrant and engaging with customers, later declined |
Bohana Interesting Facts:
- Bohana was one of the first companies to bring water lily seeds, or makhana, to the United States market.
- The founders, Nadine Habayeb and Priyal Bhartia, were inspired to start the company after Bhartia’s husband experienced an undisclosed illness that restricted his diet. This illness led them to rediscover the health benefits of water lily seeds.
- Popped water lily seeds have been consumed in India for centuries but have largely failed to gain widespread popularity in other parts of the world until Bohana’s introduction.
- Bohana’s products are non-GMO, gluten-free, and low in calories, making them an appealing snack choice for health-conscious consumers.
- The company’s appearance on “Shark Tank” in 2020 was a pivotal moment, leading to a 500% increase in sales and significant growth despite the challenges posed by the COVID-19 pandemic.
- In late 2022, Bohana was acquired by Vimal Kansara, the owner of Texas-based distributor Boon Distribution, marking a new chapter for the brand.
What’s Next For Bohana?
With Vimal Kansara and Boon Distribution recently acquiring Bohana, the brand’s future remains uncertain. The company’s website currently indicates that its products are out of stock, suggesting that the new owners are working to address supply chain and operational challenges.
It’s unclear if Bohana will maintain its existing product line or introduce new flavors and innovations under the new ownership. The company’s social media channels have been dormant for nearly two years, leaving customers and fans wondering about the brand’s plans for the future.
Given the positive reception Bohana received on “Shark Tank” and its initial success in the market, the brand still has the potential to thrive. However, the transition to new ownership poses both opportunities and risks for the company’s long-term growth and direction.
Final Words:
Bohana’s journey has been a rollercoaster of success, struggles, and changes. From its humble beginnings as a passion project to its high-profile appearance on “Shark Tank,” the company has showcased the potential of water lily seeds as a healthy and unique snacking alternative.
While Bohana’s current status and net worth remain uncertain due to the recent acquisition, the brand’s innovative spirit and the continued demand for healthier snacking options suggest that there may still be a bright future ahead. As Bohana navigates this new chapter, it will be interesting to see how the company evolves and whether it can recapture the enthusiasm and growth it experienced in its earlier years.
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