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Shark Tank: Proper Good Accepts $400,000 From Mark Cuban

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Siblings, Christopher and Jennifer Jane, are on a mission to provide healthy and quick meals to consumers who are concerned about what foods they put into their bodies. Their premium self-stable meals do not need to be refrigerated and can be enjoyed either hot or cold. They also can be enjoyed in the high-quality pouch they come in, or they can be emptied into a serving bowl. With a variety of recipe options, Proper Good meals are as delicious and convenient as they are healthy.

The Sharks are very impressed by the taste and the margins of Proper Good meals. With sales exceeding $1,000,000 in the first six months of 2021, it is clear that the Jane siblings are onto something with their quick and healthy meal options. Because they had to shift gears to a direct-to-consumer model, including a subscription service, they need help from the Sharks to bring down their customer acquisition costs and significantly reduce and eliminate their monthly burn rate to become profitable. Christopher and Jennifer came to the Shark Tank hoping to secure $400,000 in exchange for 10% equity in Proper Good.

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    Although the Sharks really enjoy their product, many of them are hesitant to invest in Proper Good as they feel that they haven’t quite figured out their business model yet and they may not be able to get a return back on their investment. Mark Cuban feels that he knows how to turn the company around and expand their sales even further, but he needs Jennifer and Christopher to be open to making changes with their business. They explain that they are happy to make changes which is why they came to the Shark Tank seeking an investor and partner that could help them to pivot and grow. Proper Good has a mantra of “data over ego” and they are willing to make whatever changes Mark feels are appropriate. They agree to a $400,000 investment in exchange for 20% equity in Proper Good.

    Would you have invested in Proper Good if you were a Shark? Did Mark Cuban make a wise investment decision by investing in Proper Good? Sound off in the comments below to start the conversation!


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