Numilk has rapidly risen to become the go-to source for plant-based milk, especially almond milk. The device makes producing fresh almond milk from simple ingredients easy and hassle-free. Ari Tolwin and Joe Savino’s brilliance enabled them to pitch their product on Shark Tank season 12, where billionaire investor Mark Cuban invested in the startup with an agreement of 5% company equity for $250k. Fast forward to 2023, and Numilk is selling for a valuation of $55 million – having already established itself as a top player in the industry and revolutionizing the way people make almond milk. It’s estimated that this trend is projected to continue in growth due to the surge in demand of plant-based alternatives among Techie + Gamers who are increasingly able to access products like Numilk conveniently from home. With plenty of room for innovation and continued disruption of an age-old tradition, it looks like Numilk will likely remain at the forefront of the plant-based milk industry for many years to come.
The Founders
Ari Tolwin and Joe Savino are two founding members of the entrepreneurial spirit coming out of New York. Ari is an orthodox Jew who graduated with an MBA from Duke University and Savino has a BBA in Finance from the Lubin School of Business at Pace University. With strong experience working in the beverage industry, they decided to take their knowledge to the next level by launching their own companies within the same year.
In 2013, Tolwin co-founded Happy Tree Maple Water while Savino co-founded Harvest Beverage Group, both of which still run today. The commitment that these two entrepreneurs have for success has led them to expand their businesses outside of New York to other areas across the US, ensuring that they stay ahead of any curve when it comes to future trends. Although each company operates separately, it’s clear that this dynamic duo will continue making strides in the industry for many years to come.
Establishing Numilk
Joe knew that there had to be a better way to provide fresh almond milk on-demand, and he found the solution: the Numilk machine. This revolutionary device revolutionizes the almond milk industry with its efficient process of production. All it requires is two ingredients: almonds and purified water. The Numilk machine grinds these ingredients together at high speeds, which makes for creamy and nutrient-rich almond milk.
For those who prefer something sweeter, customers are able to add a touch of maple syrup when they place their orders. Then all they have to do is insert their bottle into the device’s faucet, choose between sweetened or unsweetened options, and in less than a minute their drink will be ready for them to enjoy. Joe’s idea undoubtedly provided an easier way for everyone to access delicious and nutritious almond milk whenever they need it; plus it being so quick made it incredibly convenient as well.
Shark Tank Appearance
Tolwin and Savino experienced firsthand the difficulties of scaling their business off the ground. With dreams to make their business a success, they decided to take a chance on Shark Tank in 2021 and see if wealthy investors were willing to invest. When presenting their business, Tolwin and Savino valued their company at $20 million and were asking for $1 million in exchange for 5% equity. This caused some hesitation from the Sharks as it was seen as quite expensive. In an attempt to sweeten the deal, Tolwin and Savino introduced the new Numilk Home version which was more affordable at $199 and also portable. This makes it easier for people to bring along when on the go since it’s smaller than two refrigerators side by side. The affordability of this attractive product further justifies why Tolwin and Savino value their business so high. While it is still unsure whether or not this duo will successfully acquire investors through Shark Tank, they remain optimistic that someone out there values what they have created just as much as they do.
NuMilk Net Worth
NuMilk, founded in 2006 by Ari Tolwin and co-founder Joseph Savino, has become one of the most successful plant-based dairy enterprises in the world. The company currently employs over 30+ people and has sold a total of $118 million worth of products worldwide. The current net worth of NuMilk is estimated to be around $70 million with an estimated yearly sales revenue of $13 million and profits reaching up to $4 million. It’s success can be attributed to its innovative product lineup ranging from vegan milk, creamers, yogurts, butter and cheese sauces as well as strategic investments from notable figures such as Mark Cuban.
Overall, NuMilk’s success is impressive considering their humble beginnings a little more than a decade ago. Their dedication to innovation within the vegan dairy sector has seen them earn a positive reputation amongst consumers not just for the quality of their products but also for their efforts in sustainability. Along with this growing number of satisfied customers come increasing profits and an even larger net worth which continues to indicate that this business only has room for growth in the future.
NuMilk Sales
NuMilk was initially established with the goal of selling their large vending machine on Shark Tank, a hugely popular television program. This plan, however, had to be quickly revised upon its airing due to the outbreak of COVID-19 and sales were slow to take off. In response to this obstacle, Mark Cuban invested in the company and helped them develop two new products – the NuMilk Pro and a mini fridge for smaller scale use at home. With that being said, there is no doubt that 2020 has been an unprecedented year filled with obstacles for companies both big and small. Yet despite this hurdle, NuMilk managed to stay afloat thanks to Mark Cuban’s timely investment which allowed them to innovate further into the market of dairy dispensers.
Before COVID-19 hit, sales from NuMilk’s vending machine were promising but soon slowed down as people moved away from communal spaces such as shopping malls or arcades. Despite this massive decrease in sales caused by social distancing efforts, it seems like people have still expressed an interest for these machines at home and are willing to make investments into wither bulkier professional models such as the NuMilk Pro or smaller home versions that can even fit NuMilk first appeared on Shark Tank with its revolutionary vending machine that delivered fresh, healthy milk to retail outlets. This was a huge success and the company saw massive growth and profits due to the innovation. Not content to rest on their laurels, NuMilk recently released the NuMilk Pro, smaller and more efficient than its predecessor, making it much more practical for home users. Furthermore, baring in mind the impact of COVID-19 on sales in 2020, NuMilk managed to pivot during the lockdown period and develop advances machines with the assistance of Mark Cuban. Due Barbara Corcoran’s investment and smart business decisions from NuMilk’s owners, shareholders have seen exceptional returns from using this new technology.
Net Worth Growth
NuMilk, a product appearing on the hit show Shark Tank, has shown an impressive growth in its net worth since 2018. NuMilk was founded in 2018 and started off with a net worth of $7 million that year. By 2019, NuMilk’s net worth had increased to $20 million due to increased sales and exposure from the show. The growth from 2019 to 2020 was also significant: up 63 percent to a net worth of $32 million. In 2021, NuMilk’s net worth grew an additional 28 percent to reach 25 million dollars. 2021 was truly the year for NuMilk as it saw double-digit growth yet again from 2021 To 2022 – Up 92%. After seeing these extremely successful numbers in 2020 & 2021 – Investors & Fans are all excited to see what will happen next! In fact – some estimates place their Net Worth going as high as 70million in 2023!
If you’re interested in learning more about the success of NuMilk than don’t miss out on our other Shark Tank Product Updates! Here at NetWorthGrowth we stay experts on all things related to Shark Tank Product’s performance post-investment. From profits earned, ownership changes, NuMilk is a highly successful business that has seen tremendous growth over the past five years. From just seven million in 2018, their net worth has more than tripled in 2021 to twenty-five million. It’s one of the most impressive trajectories of any Shark Tank product and speaks volumes about the company’s ability to capitalize on opportunities.
Their success only intensified in 2022 as they saw a further increase to forty-eight million, eventually reaching seventy million by 2023. This drastic increase can be attributed largely to the innovative strategies implemented by NuMilk’s CEO and team. They have tapped into various dynamic markets, establishing themselves as a leading brand both domestically and internationally. Their commitment to excellence and outstanding customer service have skyrocketed them to heights of success few other businesses could match.
Updates on Shark Tank products such as NuMilk offer us an insight into the achievements of passionate entrepreneurs who understand what it takes to make it big in today’s market. Such stories are inspiring for aspiring business owners around the world who seek to build successful careers through perseverance and determination.
About NuMilk
NuMilk is a game-changer in the plant-based milk industry. This innovative machine is designed to make vegan and dairy-free milk with fresh ingredients in just minutes. The NuMilk machine utilizes almonds, purified water, and maple syrup to create almond milk instantly. This process eliminates the need to have long soak times, blends filled with additives, and other complicated steps that are often seen when making plant-based milk at home.
The NuMilk company was co-founded by Joseph C. Savino and Ari Tolwin – both of whom have been passionate about revolutionizing the plant-based milk industry for years now. This drive has helped them craft one of the most efficient and innovative machines available on the market today. Their unique approach to utilizing only natural ingredients in combination with modern technology makes them an industry leader within this space. Consumers everywhere now have access to fresher plant-based milk options that can be made quickly for those on the go lifestyles or who don’t have time for hours of soaking nuts and blending.