Where Is Nui From Shark Tank Today?
Few can deny the satisfying experience of biting into a rich, chocolate-based treat. However, entrepreneurs Kristoffer Quiaoit and Victor Macias refused to say goodbye to non-keto-friendly baked goods when they themselves took up the ketogenic diet.
“The startup crowdfunded nearly $80,000 with the help of over 1,300 supporters. However, Nui needed even more funding than that, which is why the business owners headed to”
Although these bright, young entrepreneurs were able to score a deal with guest-investor Alex Rodriguez on Season 10 Episode 6 of "Shark Tank" in 2018, their innovative cookie brand is no longer for sale online or in stores. As it turns out, their once-in-a-lifetime deal made on TV didn't pan out, Business Insider reports. Plus, due to quality-control issues, Quiaoit and Macias were no longer able to afford the Nui business come 2020. How exactly did everything fall apart?
Why the cookie crumbled
However, Nui needed even more funding than that, which is why the business owners headed to "Shark Tank" to pitch their low-sugar treats to the famous ABC investors. Kevin O'Leary and Barbara Corcoran offered Nui deals with minor contingencies relating to royalty fees, but Alex Rodriguez stepped in and agreed to give the business owners a solid deal of $300,000 for 25% equity in the Nui business.
Unfortunately, the deal with Rodriguez was never actually finalized. So, the Nui founders were left to figure out how to create a quality product and still make enough money to pay themselves back. Even though the immediate future had looked bright for Nui, a quality-related mishap ultimately led to a considerable loss of money, and the two founders were unable to keep their heads financially above water.
The end of Nui cookies
After Nui's appearance on "Shark Tank," Victor Macias told Food Navigator USA that the brand had numerous stores looking to add its cookies to their shelves. However, as of 2023, the business's social media presence has ceased; the Nui company stopped posting on both Instagram and Facebook in February 2020.
Victor Macias expanded on why the Nui business didn't last on his own personal website in January 2022. He stated the Nui business broke down over quality concerns when the company was forced to recall a large number of cookies. This incident caused him and his business partner to run out of money as they tried to keep the keto-friendly company up and running.
In the end, Macias filed for bankruptcy, and his business partner, Kristoffer Quiaoit, publicly announced the filing in a LinkedIn post that same year. Still, Macias continues to share his knowledge of entrepreneurship and has even created a six-week course to help new business owners get their companies and ideas off the ground, into the real world. Although you can no longer purchase Nui cookies, they were at least a viable alternative to traditionally baked treats for a handful of years.