Minus Cal post-Shark Tank update: is the 'fat-blocking product' still in business?
Minus Cal ended its social media presence in 2019 and became unavailable on Amazon. The no-deal outcome on Shark Tank and Mark Cuban's negative comments seem to have affected the business. So, what happened to Minus Cal post-Shark Tank? Minus Cal officially went out of business in 2020.
Source: UGC
TABLE OF CONTENTS
Key takeaways
- Crom Carmichael and Barrett Jacques founded Minus Cal in 2017.
- Minus Cal was an innovative fat-blocking protein bar and supplement that allegedly helped in weight loss.
- The two businessmen pitched their business on Shank Tank season 11, episode 1, to get $500,000 for 20% equity.
- No investor made an offer, and some discouraged people from using the product.
- Minus Cal is no longer in business, and Crom and Barrett have ventured into other things.
Is Minus Cal from Shark Tank still in business?
Minus Cal is no longer in business. The business' social media presence ceased to exist in 2019, and the online store officially closed in 2020. Although the product was also selling on Amazon at $29.95 for a box of eight bars, they are no longer available. After Shark Tank, the bars received negative reviews, with some people claiming it was a scam.
What happened during the pitch on Shark Tank?
Source: UGC
Crom Carmichael and Barrett Jacques introduced a business known as Minus Cal on the reality TV series Shark Tank. The business produced a line of protein bars and supplements made with a special ingredient known as Choleve.
According to the businessmen, research shows Choleve aids in lowering cholesterol and weight loss. Crom explained that Choleve is extracted from fresh tea leaves, and they used molecular technology to increase its potential 20 times.
One of the sharks, Mark Cuban, an American billionaire businessman, jumped in, questioning the results driven by it. Crom explained that it reduces cholesterol from 17 to 20%, and 100 calories are flushed out of the body. Mark was sceptical about the 100-calorie loss with just two pills. The businessmen were then asked if the product was safe, and they answered yes.
Source: UGC
Mark Cuban had a lot to say about the branding and stated it to be air. There was a back-and-forth between the investors and the businessmen as the episode went on. Unfortunately, this left no opportunity to talk business.
Barrett and Crom did not share any details about their cost or the retail price but stated they had been in business for a short time. Guest shark Daniel Lubetzky, an American entrepreneur, says he prefers eating natural foods in their initial state, and he is the first shark out.
Kevin O’Leary, also known as Mr. Wonderful, is a Canadian businessman and television personality who is the next out because of the lack of sales and high valuation. Lori Greiner, an American TV personality and entrepreneur, bolted out because she was uncomfortable with the weight loss claims that the Minus Cal promised.
Robert Herjavec, a businessman, investor, and TV personality, commented that the product didn’t taste good and did not make a deal, claiming he didn't know what he’d be investing. Mark Cuban opted out and went further and warned people not to buy the product. He said:
To everybody who's watching, don't buy it.
Ultimately, all the sharks were out, and there was no offer made to Minus Cal.
What was the Shark Tank effect on Minus Cal?
Source: UGC
Failing to get an investor at Shark Tank proved to be detrimental to Minus Cal. Mark Cuban's comments made matters worse, leading to some fans giving negative reviews of the product.
The company struggled after Shark Tank as it didn’t have the money to spend on advertising. Its Instagram page was out in 2019 and the following year the business closed its online shop. Minus Cal products also ceased to exist on Amazon.
What does Minus Cal mean?
Minus Cal refers to a company that pitched protein bars and supplements. The bars and supplements contained Choleve, a green tea extracts, which they claimed helped users lose weight by reducing fat absorption.
How much is Minus Cal worth on Shark Tank?
Source: UGC
According to BTCC Academy, Minus Cal's net worth on Shark Tank was alleged to be $2.5 million according to the founders. However, the business went bankrupt and closed down after failing to get funding from the reality TV show investors.
FAQs
- What does Minus Cal do? Minus Cal is a product that was marketed as a snack bar and diet tablet to block fat absorption. They would then prevent cutting down calories, leading to weight loss.
- Did Minus Call get a deal from Shank Tank? No, the business did not get investors from Shark Tank.
- Is Minus Cal still in business? No, the company went bankrupt and closed down in 2020.
- Why did Minus Cal go out of business? The business failed to make sales due to the effects of the negative comments it received after appearing on the reality show.
- Who are the founders of Minus Cal? Crom Carmichael and Barrett Jacques were the founders of the business. Carmichael was an angel investor, while Jacques was a songwriter and recording artist before Minus Cal.
- What episode of Shark Tank did Minus Cal appear? Minus Cal appeared on Shank Tank Season 11, Episode 1.
- How much is Minus Cal worth? The business is not worth anything, as it does not exist. However, according to BTCC Academy, the founders estimated the business to be worth $2.5 million on Shark Tank.
Minus Cal is no longer in business. Its social media pages went quiet in 2019, and the online business officially closed in 2020. The founders of Minus Cal appeared on Shark Tank and walked away without a deal.
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Source: Legit.ng
