Go Oats, the innovative breakfast company behind the tasty and convenient oatmeal bites has been making waves since its appearance on the hit TV show “Shark Tank” in 2020. Founded by Nahum Jeannot, Go Oats has quickly grown into a beloved brand, capturing health-conscious consumers’ hearts (and taste buds) across the country. But what is the current net worth of this rising star in the food industry? Let’s dive in and explore the journey of Go Oats, from its humble beginnings to impressive growth and prospects.
Who is Go Oats?
Go Oats is a food startup that creates easy-to-eat oatmeal balls made with high-quality, wholesome ingredients. The founder Nahum Jeannot, the founder of the nourishing breakfasts company, inspired the company he grew up with, which his mother and grandmother prepared. Jeannot’s experience in the culinary world, including a stint as a head chef at a hotel, led him to develop the first version of the oatmeal bites as a grab-and-go breakfast option for busy customers.
Who Is The Founder Of Go Oats?
The founder of Go Oats is Nahum Jeannot, a passionate foodie and entrepreneur. Jeannot’s culinary journey began at a young age, working his way up from a busser to a head chef. During his time as a head chef at a Hyatt Regency hotel, Jeannot was tasked with creating a mess-free, portable breakfast option, which ultimately led to the creation of the first Go Oats product. Jeannot partnered with Alvin Chun to officially launch Go Oats, bringing their shared vision of providing a healthy, convenient breakfast option to life.
How Was The Shark Tank Pitch Go Oats?
Go Oats’ appearance on “Shark Tank” in 2020 was pivotal for the company. Founder Nahum Jeannot, appearing solo due to pandemic-related travel challenges for his business partner Chun, pitched the Sharks his request for a $150,000 investment in exchange for a 10% equity stake.
The Sharks were immediately impressed by the product, with Barbara Corcoran, a self-proclaimed oatmeal enthusiast, praising the satisfying texture and flavor of the oatmeal bites. However, the Sharks voiced concerns about the product’s low pricing, noting that scaling the business at those margins would be challenging.
| Entrepreneur | Nahum Jeannot |
|---|---|
| Business | Go Oats |
| Product | Oatmeal in a ball |
| Ask | $150,000 for 10% equity |
| Result | $150,000 for 15% equity (Barbara Corcoran) |
Go Oats Shark Tank Update:
Despite the Sharks’ initial reservations about the pricing, Barbara Corcoran made an offer to Jeannot—$150,000 for a 25% equity stake. After some negotiation, Jeannot accepted a deal with Corcoran, who received a 20% equity stake in exchange for the $150,000 investment. The “Shark Tank” appearance proved to be a game-changer for Go Oats, as the company experienced a significant sales surge, with its product stock selling out within 48 hours of the episode’s airing.
What Happened To Go Oats After Shark Tank?
The success of Go Oats’s Shark Tank appearance paved the way for the company’s rapid expansion. Shortly after the episode aired, Jeannot moved the company’s operations to a larger facility to accommodate the growing demand. Go Oats’ oatmeal bites. Initially only available in Whole Foods stores, they are now found in various major retail chains, including Albertson’s, Target, Sprouts Farmers Market, and more. The company has also launched a direct-to-consumer website, allowing customers to purchase their products online.
Go Oats Net Worth:
While Go Oats’ exact net worth is not publicly disclosed, the company’s impressive growth and continued success suggest a healthy financial standing. According to the information shared on “Shark Tank,” Go Oats had sales of $13,000 in 2017 and $57,000 in 2018-2019, indicating a solid trajectory. With the company’s increased distribution, product line extensions, and online sales, it’s reasonable to estimate Go Oats’ net worth to be several million dollars.
| Year | Sales |
|---|---|
| 2017 | $13,000 |
| 2018 | $57,000 |
| 2019 | Similar to the 2018 sales |
Go Oats Growth and Operations:
Since its “Shark Tank” appearance, Go Oats has undergone significant growth and expansion. The company has successfully navigated the challenges of scaling a food business, including moving to a larger production facility and expanding its distribution channels. Go Oats’ oatmeal bites are now available in numerous grocery chains across the United States, making the brand more accessible to health-conscious consumers.
Go Oats Marketing and Sales
Go Oats has implemented a well-rounded marketing strategy to drive brand awareness and sales. The company’s social media presence, with an active Instagram account, allows it to engage with its customer base and showcase the versatility and convenience of its products. The company’s partnerships with major retail chains have also increased its visibility and accessibility. Go Oats’ focus on product quality, flavor innovation, and customer satisfaction has contributed to its sales and positive reviews.
| Retailers | Availability |
|---|---|
| Whole Foods | Yes |
| Amazon | Sold out after airing |
| Go Oats website | Sold out after airing |
| Target | Yes |
| Albertsons | Yes |
| Dawson’s Market | Yes |
| Gelson’s | Yes |
| Sprouts Farmers Markets | Yes |
| Other retailers | Yes |
Go Oats Social Media Presence:
Go Oats maintains an active and engaging presence on social media, particularly on Instagram. The company’s Instagram account (@gooats) showcases the different flavors of its oatmeal bites, shares recipe ideas, and interacts with its followers. The visually appealing imagery and relatable content have helped build a strong brand following, with the account boasting over 10,000 followers.
Go Oats Interesting Facts:
- Founder Nahum Jeannot was inspired to create Go Oats based on the nourishing breakfasts he grew up with, prepared by his mother and grandmother.
- The company’s name, “Go Oats,” is a play on the idea of “go-to” oatmeal, reflecting the convenient and portable nature of the product.
- In addition to the classic flavors featured on “Shark Tank,” Go Oats has since introduced a new Strawberry flavor and a seasonal Pumpkin Spice option.
- The company’s chief operating officer, Alvin Chun, is also a co-founder of Go Oats, though he preferred to take a behind-the-scenes role during the “Shark Tank” appearance.
What’s Next For Go Oats?
As Go Oats continues to grow and expand, the company will likely explore new product innovations and market opportunities. While details about upcoming flavor releases or product line extensions are not publicly disclosed, the brand’s commitment to providing healthy, convenient breakfast options suggests that it will continue to innovate and adapt to the evolving preferences of its customer base.
Final Words:
Go Oats’ journey from a hotel chef’s creative solution to a thriving food startup is a testament to the power of an innovative idea and strategic execution. With the backing of Barbara Corcoran and the momentum gained from their successful “Shark Tank” appearance, Go Oats has solidified its position as a rising star in the breakfast food market. As the company continues to grow its reach and expand its product offerings, it will be exciting to see what the future holds for this dynamic and health-conscious brand.
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