Freestyle Snacks Shark Tank Update — Shark Tank Season 17
When Nikki Seaman stepped onto Shark Tank with her reimagined olive snack, Freestyle Snacks, she turned a centuries-old pantry staple into a bold, on-the-go revolution that wowed both Sharks and snack lovers alike.
Nikki Seaman entered the “Shark Tank Episode 5 Season 17” with an amazing product that has been stuck in jars for long enough: olives. Surprisingly, Allison Ellsworth, founder of Poppi, joined as a full-time Shark in this episode.
Nikki pitched her brand, Freestyle Snacks, which transforms the packaging and flavors of pre-packaged olives. As she stepped into a highly competitive market, let’s take a closer look at her Shark Tank pitch.
However, the question that loomed was, will the Sharks raise the flyers for this, or will they prefer to pass?
About Freestyle Snacks
| Category | Details |
|---|---|
| Business Name | Freestyle Snacks |
| Founder | Nikki Seaman |
| Industry | Food & Beverages |
| Product | Packaged Olives |
| Investment Asked | $300,000 for 5% equity |
| Deal Status | Deal secured Allison Ellsworth |
| Deal Outcome | $300,000 for 11% equity |
| Valuation | $6 million |
Nikki Seaman is from Atlanta, Georgia, and her story began when she was working in the Consumer Packaged Goods (CPG) market, where she learned everything about snacking and packaging. Hence, during the pandemic, she couldn’t get a taste of her beloved olive bars, and that is when she noticed a sad reality.
Jarred olives floating in the messy brine and bland taste like disappointing ‘eyeballs.’ Thus, she set out on her entrepreneurial journey to make Freestyle Snacks olives, packed in a pouch with different flavored marinades.
Also, these were bold and restaurant-quality olives, which can be tossed into your salad or martini, or you can have them straight from the pouch. Moreover, she claimed on the Tank that they marinate olives in the freshest liquids.
Let’s see how the Sharks reacted to a super-tasty way of keeping the olives fresh.
Freestyle Snacks Shark Tank Pitch
Nikki Seaman stormed the Tank, asking for $300,000 in exchange for 5% equity, valuing the company at $6 million. Robert Herjavec was keen to know about her sales, along with Kevin O’Leary.
Thus, she took the plunge, starting with the non-refrigerated shelf life of her product, which was 12 months for the smaller pouch and 18 months for the bigger one.
In the year 2022, when the Freestyle Snacks olives hit the market, she made $200,000. In 2023, her revenue quadrupled, making $1 million in sales, and that was a ‘Wow’ moment on the Tank. Furthermore, she made $2.2 million, and in 2025, they are on track to make $4 to $5 million.
Additionally, she is expecting an EBITDA of $55,000 this year, as the last years were not profitable. Nikki also shared that she has raised $750,000 from investors.
The Sharks were quite surprised to know that she is still working as a solo founder with one full-time employee and other part-time folks. Hence, she explained that she needs this investment to grow and build her team.
Moreover, when the Sharks wanted to know about her sales, she responded that 70% of her sales were wholesale to the retailers. While the other 30% was through Amazon. So, she has partnered with more than 4500 stores nationwide, and her biggest wholesale partner was Whole Foods.
Daymond John was keen to know about the production cost and the selling cost. Thus, Freestyle Snacks’ smaller packs cost around 32 cents to make; they further wholesale them for $1.10, and they retail for $1.99. While the larger-size packs cost around $1.35 to make, they wholesale them for $3.15, and then their retail price is around $4.99 to $5.99.
Though Nikki’s brand and positioning were super impressive, let’s see how many flyers she got from the Sharks.
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What Makes Freestyle Snacks Unique?
There are various reasons why Freestyle Snacks is unique. Let’s see some of those.
- Freestyle Snacks is about better ingredients and snacking habits. They are non-GMO, vegan, and gluten-free and contain no preservatives.
- Each pack is filled with bold, restaurant-quality olives marinated in globally inspired flavors like Lemon Garlic, Kalamata Olives, and Hot & Spicy.
- The brand also connects with the “on-the-go” packaging culture. Further, catering to professionals, travelers, and health-conscious customers.
Did Freestyle Snacks Get a Deal on Shark Tank?
Nikki Seaman was confident about her branding and packaging, which really differentiates her company. Also, she claimed on the Tank that she thinks her company can grow to be a $50 million to $100 million brand on its own. However, there was a head-to-head argument between Kevin and Allison Ellsworth.
Allison was very confident in Nikki’s brand, idea, and execution, as the product was gluten-free with no juice. But Mr. Wonderful knew that she didn’t have the first-mover advantage; instead, she was only first to the packaging.
Robert Herjavec decided to pass on the offer, as he couldn’t stand olives. Kevin did admit that Freestyle Snacks had a clever business plan for a brutally competitive market. Though he, too, refused to make an offer.
Lori Greiner bowed out of the deal, saying that she would demand a higher percentage; however, at the moment, it is not an investment she wants to make. Also, Daymond John decided to stay out.
Allison Ellsworth offered Nikki Seaman $300,000 in exchange for 15% equity in her brand. The founder countered for 8%, but later they both settled for 11% equity. Thus, Nikki Seaman secured the deal with the new Shark Allison.
Freestyle Snacks Shark Tank Update
After Freestyle Snacks secured a deal on the Tank, they launched an exclusive Shark Tank Bundle discount of 10%.
You can purchase the bundle of original green, hot & spicy, herb medley olives, and lemon garlic olives for $28. Moreover, after the episode aired, the visibility and customer traction have increased.
Where Can You Buy It?
You can purchase Freestyle Snacks olives at any nearby Whole Foods store, and you can also check the stores using the store locator on their official website. You can also check their Instagram page for more information.
Quick Summary
- Nikki Seaman entered the Tank with her product, Freestyle Snacks olives, packed in a pouch with bold and restaurant-quality flavors.
- She came in seeking $300,000 in exchange for 5% equity from the Sharks. Her pitch, product, and packaging definitely left a mark on the Sharks, though not all the Sharks gave flyers.
- Thus, she secured a deal with Allison Ellsworth, founder of Poppi, and the new full-time Shark. They settled for $300K in exchange for 11% equity.
