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They promptly discovered the healing properties of olive oil and were inspired to concoct their own natural products.
From 2009-2012, the company saw $30,000 in gross sales with an overall $625,000 valuation.
What happened to Nardo’s Natural on Shark Tank?
The Mastronardos asked for a $75,000 investment in exchange for 12% equity in their family business.
Duringnegotiations, billionaire Mark Cuban was the first Shark out due to the lack of demand for their products.
However, he felt it was too early to invest he was out.
She also wasn’t a fan of the brand name, which was a spin-off of their family surname.
Despite these criticisms, overall she was impressed by their drive.
The angel investor made a counteroffer: $75,000 in exchange for 50% of the company.
In addition to the large equity, there was another catch they must change the brand name.
The brothers eventually agreed to her terms and accepted the offer.
They also pursued deals with retailers Whole Foods, Walgreens, and CVS.
As of 2023, The Spa by Nardo’s Natural is permanently closed.
