Bohana Net Worth 2024 – Interesting Facts, Social Media, & What’s Next
Bohana, the innovative snack company that introduced popped water lily seeds to the American market, has made waves in the health food industry since its appearance on Shark Tank in 2020.
Founded by Nadine Habayeb and Priyal Bhartiya, this Boston-based startup has captured the attention of health-conscious consumers and investors alike.
While exact figures are hard to pin down, estimates of Bohana’s net worth have ranged from $2-4 million in recent years, reflecting the company’s growth and potential in the competitive snack market.
What is Bohana?
Bohana is not a person but a brand name for a unique snack product. The company produces popped water lily seeds, marketed as a healthy alternative to traditional popcorn.
These seeds, also known as makhana, have been a popular snack in India for centuries. Bohana’s founders saw an opportunity to introduce this nutritious and tasty treat to the American market.
The snack is naturally gluten-free and vegan (except for the white cheddar flavor) and contains more protein and fewer calories than popcorn. Bohana offers various flavors, including Himalayan Pink Salt, Wild White Cheddar, and Soulful Spice, appealing to different tastes while maintaining its health-focused brand identity.
| Category | Details |
|---|---|
| Company Name | Bohana |
| Product | Popped Water Lily Seeds |
| Founded | 2018 |
| Founders | Nadine Habayeb and Priyal Bhartiya |
| Headquarters | Boston, Massachusetts, USA |
| Estimated Net Worth (2024) | $12-20 million |
| Annual Revenue (2022) | $4 million |
| Notable Media Appearance | Shark Tank (Season 11, Episode 16) |
| Shark Tank Deal | $200,000 loan at 9% interest + 8% equity from Kevin O’Leary |
Who Is The Founder Of Bohana?
Bohana was co-founded by Nadine Habayeb and Priyal Bhartiya in 2018. Nadine, who pitched the product on Shark Tank, has a background in marketing and previously worked for Yves Saint Laurent. Priyal, who grew up eating water lily seeds in India, brought her knowledge of the traditional snack to the partnership. Together, they saw the potential to transform this ancient superfood into a modern, appealing snack for the American market.
The Shark Tank Pitch
Nadine Habayeb appeared on Season 11, Episode 16 of Shark Tank, which aired in March 2020. She sought $200,000 for a 10% stake in the company, valuing Bohana at $2 million.
The Sharks were intrigued by the unique product and its health benefits. They tasted the snacks and asked probing questions about the market potential and challenges of educating consumers about this unfamiliar food.
After some negotiation, Nadine accepted an offer from Kevin O’Leary, also known as “Mr. Wonderful.” He proposed a $200,000 loan at 9% interest over 36 months, plus 8% equity in the company. This deal allowed Bohana to maintain more equity than the competing offer from Barbara Corcoran, who had proposed $200,000 for 30% of the company.
Bohana Shark Tank Update
Following their Shark Tank appearance, Bohana experienced significant growth. The episode aired just as the COVID-19 pandemic began, presenting challenges and opportunities for the company. Despite production disruptions and supply chain issues, Bohana saw a reported 500% increase in sales in 2020.
The company expanded its product line, adding new flavors like Sweet Cinnamon Drizzle and Sea Salt Chocolatey Drizzle. They also updated their packaging to be resealable, enhancing the product’s appeal and convenience.
What Happened To Bohana After Shark Tank?
After Shark Tank, Bohana leveraged its newfound visibility to expand its reach. The company’s products were featured on QVC, reportedly selling out 4,000 units in under six minutes. They also saw significant growth in online sales through platforms like Amazon and Walmart.com.
However, the pandemic presented challenges, particularly in-store sales and product demos. Bohana had to adapt its marketing strategies to reach new customers without the ability to offer samples in stores.
Bohana Growth and Operations
As of 2022, Bohana reported annual revenue of around $4 million, showing impressive growth from its pre-Shark Tank days. The company expanded its retail presence with products in Wegman’s northeastern U.S. stores and numerous independent grocers.
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Investments and partnerships
While details of specific investments beyond the Shark Tank deal are not publicly available, Bohana’s growth suggests ongoing support from investors and strategic partnerships. For example, the company’s appearance on QVC likely resulted from connections made through their Shark Tank experience.
Challenges and competitors
Bohana faces the ongoing challenge of educating consumers about water lily seeds and differentiating itself in the crowded healthy snack market. Competitors include both traditional popcorn brands and other innovative, health-focused snack companies. The higher price point of Bohana’s products than conventional popcorn also presents a potential barrier to widespread adoption.
Technological innovations
While Bohana’s core product is based on ancient food, the company has likely invested in modern production and packaging technologies to scale up operations and maintain product quality. However, specific details about their manufacturing processes are not publicly available.
Bohana Net Worth and Financial Performance
Estimating Bohana’s net worth is challenging without access to their private financial records. However, based on their reported annual revenue of $4 million in 2022 and typical valuation multiples for food startups, it’s reasonable to estimate the company’s value in the $12-20 million range. This represents significant growth from their $2 million valuation on Shark Tank.
| ear | Estimated Net Worth | Annual Revenue | Valuation at Shark Tank |
|---|---|---|---|
| 2024 | $12-20 million | $4 million (2022) | $2 million |
Bohana’s Strategy of Marketing and Sales
Bohana has employed a multi-channel marketing strategy, leveraging online and offline channels. Their Shark Tank appearance provided invaluable exposure, which they’ve built upon through:
- E-commerce sales through their website, Amazon, and other online retailers
- Retail partnerships with specialty and health food stores
- TV shopping channels like QVC
- Social media marketing and influencer partnerships
- Participation in food trade shows and events
The company has positioned itself as a premium, health-conscious snack option, targeting consumers willing to pay more for nutritious alternatives to traditional snacks.
Looking for a back to school snack this is allergen friendly, nutritious and also tasty? Look no further! Our popped water lily seeds are free of the Top 8 Allergens and packed with antioxidants & amino acids.
Kids love them and moms do too!#FreeSpiritSnacking pic.twitter.com/yvBZevbiuT
— Bohana (@Bohanalife) August 14, 2021
Bohana Social Media Presence
Bohana has built a significant social media following, particularly on Instagram, with over 14,000 followers. Their content focuses on showcasing their products, sharing recipes and serving suggestions, and promoting the health benefits of water lily seeds. However, as of mid-2023, their social media accounts have been relatively inactive, with no posts since summer 2022.
Bohana Interesting Facts
- Water lily seeds have been consumed in India for thousands of years and are considered an Ayurvedic superfood.
- Bohana sources its seeds from sustainable farms in Bihar, India, supporting local farmers.
- The company claims its products have 67% less fat, 20% fewer calories, and 50% more protein than traditional popcorn.
- Bohana was among the first companies to introduce water lily seeds to the U.S. market.
- “Bohana” comes from the Indian word for puffing or popping, “phool.”
What’s Next For Bohana?
As of early 2024, Bohana’s future direction is uncertain. The company’s website currently states that it is “temporarily out of stock,” and reports suggest it may have closed due to insufficient funding. However, this information has not been officially confirmed.
If Bohana continues operations, potential next steps could include:
- Expanding their product line with new flavors or complimentary snacks
- Increasing retail distribution to reach a wider audience
- Exploring international markets, particularly in health-conscious regions
- Developing new marketing campaigns to educate consumers about water lily seeds
- Seeking additional investment to fuel growth and innovation
Final Words
Bohana’s journey from a startup introducing an unfamiliar snack to the U.S. market to a multimillion-dollar company showcases the potential for innovative, health-focused products in the food industry. Their appearance on Shark Tank provided a significant boost, helping to introduce water lily seeds to a broader audience.
While the company has faced challenges, including the impact of the COVID-19 pandemic and the need to educate consumers about its product, Bohana has demonstrated resilience and adaptability. Their growth in sales and expansion into new retail channels suggests a product with a solid appeal to health-conscious consumers.
However, the recent lack of updates and reports of potential closure highlights startups’ ongoing challenges in the competitive food industry. As we look to the future, Bohana’s story serves as both an inspiration and a cautionary tale for entrepreneurs in the health food space.
Whether the company can overcome its current challenges and continue its growth trajectory remains to be seen. Still, its impact on the snack industry and introducing water lily seeds to the American market is undeniable.