Discover how Bleni Blends grew to a $3M net worth after Shark Tank, expanding its smoothie vending machines across the U.S. and Canada.
Bleni Blends, a smoothie vending machine business founded by brothers Peter and Stuart Shapiro, gained national attention after their appearance on Shark Tank in March 2023.
Before their pitch on the show, the company was valued at $4.1 million, with a business model centered around automated vending machines that serve fresh smoothies within 60 seconds. At the time, they had 41 machines in operation, primarily in high-traffic locations like gyms and hospitals.
The Shapiro brothers entered Shark Tank seeking $250,000 for 6% equity. However, after intense negotiations, they accepted a counter-offer from Lori Greiner and Daniel Lubetzky for $250,000 in exchange for 30% equity, significantly lowering the company’s valuation to $833,333.
The deal allowed Bleni Blends to tap into the expertise and networks of two experienced investors while scaling their operations.
Before Shark Tank, Bleni Blends had generated around $465,000 in revenue, with projections to surpass $1.5 million in the coming year. Despite initial concerns from the Sharks about competition and the capital required to manufacture the vending machines, the company’s innovative approach to healthy vending products stood out.
Their machines, which provide dairy-free and gluten-free smoothies made from fresh ingredients, filled a gap in the market.
After securing the deal, Bleni Blends experienced a significant boost in visibility and orders. By 2024, the company’s net worth had grown to approximately $3 million, thanks to increased demand for their machines and the strategic expansion of their operations.
The company now operates more than 50 machines across the U.S. and Canada, with plans to continue scaling. Their machines, which cost around $30,000 each, have become a popular choice for locations such as universities, hospitals, and corporate offices.
The Shapiro brothers’ journey from a $4.1 million pre-Shark Tank valuation to a $3 million net worth in 2024 showcases their persistence and adaptability in a competitive market. With continued innovation and expansion, Bleni Blends is set to remain a key player in the healthy vending machine industry
