Is The New Kenya Coffee Billionaire Single?.... Hook Me Up Please!

Business
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[SIZE=7]Kenyan coffee entrepreneur bags Sh44m from US ‘Shark Tank’ show[/SIZE]
Saturday, February 18, 2023
By Elvis Ondieki

A Kenyan entrepreneur who sells Kenyan coffee in the United States has gained fame and a Sh44 million investment in her business after impressing at an investment TV show.

[ATTACH=full]496469[/ATTACH]

Ms Margaret Nyamumbo, the founder and CEO of Kahawa 1893 –a firm that exports African coffee to America– has earned plaudits for the way she described her business and pitched for investment to famous business moguls in the reality TV show ‘Shark Tank’.

The episode aired on Saturday at 4 am Kenyan time on ABC Television.

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Ms Nyamumbo, who moved to the US to take an MBA at Havard Business School and later worked at Wall Street, founded the company in 2017.

She pitched to investors (who are called “sharks” in the show) who included Mark Cuban, Emma Grede, Robert Herjavec, Kevin O’Leary and Lori Greiner.

https://www.youtube.com/watch?v=fx_1Hw1YjlA:4

She told the “sharks” of the unique nature of her business: “Sharks, did you know that the best coffee in the world grows in Kenya? I would know. I grew up on my grandfather’s coffee farm in Kenya. We, Kenyans, are very proud of the coffee that grows on our soil. But there’s a catch: the farmers don’t always make enough for the delicious coffee that they produce. In fact, 90 percent of the labor in coffee comes from women but so many are not compensated because they don’t own the land.

That’s why I created a new way to compensate the coffee farmers. At Kahawa 1893, we source our coffee directly from women farmers in Africa. But that’s not all; we go one step further: our customers can tip the coffee farmers and we match the tips.”

She told the panel that she is all about sharing the wealth and “brewing a coffee revolution”.

[SIZE=6]Received praise for its taste[/SIZE]
The sample coffee that she presented to the “sharks” received praise for its taste.

Ms Nyamumbo further detailed to the panel her journey from Kenya to the US, detailing how she grew up on her grandfather’s farm in Kenya, how she won a scholarship to Harvard University, how the whole village had to fundraise to help her travel to the US, how she arrived there with just $200 and how she had gained a footing in the business. She currently lives in New York.

Noting that her business makes over $1 million in sales every year, Ms Nyamumbo wanted to sell a five percent stake in her business for $350,000 (Sh44 million).

Her idea captivated the sharks and, in the typical fashion of the show, they haggled with Ms Nyamumbo on the equity to acquire in the business and for how much.

After heated talks, it was Emma Grede who convinced Ms Nyamumbo to take the $350,000 she was seeking but for an eight percent stake in the business.

“Any brand that’s going to scale and do really well now has to be rooted in some kind of community,” Emma said.

According to Forbes, Emma’s net worth as of June 14, 2022, was $360 million (Sh45.3 billion).

Ms Nyamumbo’s presentation has drawn praise from various quarters. Kenyans on Twitter have commended her on her confidence and sales skills.

[email protected]

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Ati Women farmers? Crafty okuyu.

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Where is the full clip?
Sio analysis ya huyo ghaseer…

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Kamati ya roho chafu @Beast and @Micymas are not happy.

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I have a feeling that she is a very long con.
She said that the village had to do a harambee for her so that she could study for her degree.
Which village?
I have looked at all her social media platforms and they are all flooded by the Shark Tank episode…??
We need to know more about her.
Am not in LinkedIn but her account at shark tank needs to be verified …
@Swahilijoe …

All the best

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So what if it’s a con?
Sometimes you have to tell people what they want to hear to get what you want.

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Yes! And btw she already got Kshs 44m… :smiley:

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She is a skilled story teller and that’s how she markets Kahawa 1893. She uses the right trigger words a junguu wants to hear and that’s a prerequisite when selling coffee ; words like Equity, Fair Trade, Women Rights, Poverty, etc. Don’t know her history but one thing for sure is that she buys her coffee from traders in America and not from the village . A buddy was trying to get her company to buy coffee from him but it never materialized.

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Worth 45 billion na unatafuta 44 million? [ATTACH=full]496479[/ATTACH]

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The one Worth 45billion is the shark(emma) sio sista ya @mnyambuo (nyamumbo)

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Who are those women that she buys coffee from?

Wow. So she lied her way into getting 44m?
But she should realize the Sharks do a lot of due diligence before releasing any money. They have burnt theie fingers before and are extra vigilant.
Kevin O’leary for example lost a lot of money in the Crypto scam.

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She did not lie, she has a story and the product and financials, she even has a contract with Trader Joe’s. The only think she does is exaggerate her story about sourcing her coffee ; at the end of the day her coffee is from Kenya but not bought in Kenya rather that from multiple trader in the US; probably with some infusion of funds she will start sourcing from the women in Kenya including her Kisii homeland. She is savvy and her main reason for appearing on Shark Tank is to free publicity ; I would bet her sales will be up by 25% and the $ 350,000 will be good additional resources for expansion.

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Btw, the village harambee was for flight tickets of her parents during her graduation – not for her education. That part could be true.

She got a scholarship into Harvard.
If you know anything about applying for scholarships, you have to create sob stories to increase your chances.

Notice that she also picked the black woman so she can use “black women owned business” phrase to grow her business. In the U.S., if the liberals and black community embrace your business, you can make a lot of money.

I can also bet she will pocket at least 50% of the tips. Or more of that.

She’s a very smart woman.

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[SIZE=7]Mark Cuban says ‘Shark Tank’ CEO’s coffee business is a ‘brilliant idea’:
‘You’re worth more than $7 million’[/SIZE]

Published Tue, Feb 21 20237:15 PM EST

https://image.cnbcfm.com/api/v1/image/106988980-1639492645109-104381943-1544215955523img_3329-1.jpg?v=1639492697&w=60&h=60&ffmt=webp
Megan Sauer@MEGGSAUER

To Mark Cuban, coffee could be worth millions — if it’s served with a compelling backstory.

Take Kahawa 1893, a San Francisco-based coffee company that Cuban called a “brilliant idea” on a recent episode of ABC’s “Shark Tank.”

The company sources coffee directly from African women who often aren’t fairly compensated for their labor, founder and CEO Margaret Nyamumbo said on the show.

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Kahawa 1893 founder and CEO Margaret Nyamumbo pitches her coffee company on ABC’s “Shark Tank.”
ABC/Christopher Willard

Customers can tip those women by scanning a QR code on the bags of beans, and the company matches all tips. In total, Kahawa 1893 and its patrons have given at least $20,000 to women farmers since launching in 2017, Nyamumbo said.

Cuban believed in that mission so much he went out on a limb for Nyamumbo against Kevin O’Leary.

Nyamumbo came in asking for $350,000 in exchange for 5% of Kahawa 1893. When O’Leary said her $7 million valuation was out of line — due to only bringing in $2 million last year in revenue — Cuban interrupted and said, “You’re worth more.”

Ultimately, every Shark except O’Leary made Nyamumbo an offer, all impressed by her background: Nyamumbo, who grew up as a third-generation coffee farmer in Kenya, said she saw firsthand how the men who owned the land were compensated more than the women doing the actual farming.

The experience was alarming, given how reliant the African coffee market is on women. “90% of the labor in coffee comes from women, but so many are not compensated” because they only own 1% of the land, Nyamumbo said.

As a teenager, Nyamumbo got a scholarship to attend Smith College in Northampton, Massachusetts, and her village fundraised to buy her ticket abroad. She later got an MBA from Harvard University in 2016 while working on Wall Street for Citigroup.

But home still weighed on her mind. The following year, she launched Kahawa 1893 — named after the Swahili word for coffee, and the year coffee was commercialized in Kenya.

Success came quickly. By the time of the “Shark Tank” episode’s filming, Kahawa 1893 was on track to hit $4 million in 2022 sales, and was in stores like Trader Joe’s and Sprouts, Nyamumbo said.

After O’Leary backed out of negotiations, guest Shark Emma Grede — who admitted she didn’t even drink coffee — jumped in, offering $350,000 for 12.5% of Kahawa 1893.

https://image.cnbcfm.com/api/v1/image/107197753-1677012206075-164553_9404.jpg?v=1677024901&w=929&h=523&vtcrop=y
Emma Grede and Margaret Nyamumbo make a deal: $350,000 for 8% of Kahawa 1893.
ABC/Christopher Willard

Then, Robert Herjavec proposed a joint investment with Grede, who would lead the deal for the woman-led company: $700,000 for 25% of the company.
Nyamumbo said she was excited about the idea of having two Sharks as investors, but didn’t want to give up a quarter of her company. She asked if the pair would consider a more creative deal: $300,000 in cash and $400,000 in debt for 16% in equity.
Cuban and Lori Greiner both said they’d accept similar offers. But Herjavec, saying he didn’t want to get overly complicated, ditched the joint proposal and offered a more simple $350,000 for 8%.

Grede matched his offer, noting her experience as a Black woman fundraising for brands like Good American and Skims. Companies led by Black women typically get less than 1% of venture capital funding, according to a CNBC analysis of Crunchbase data earlier this month.
With that, Nyamumbo thanked Herjavec and accepted Grede’s offer.

“This is just a dream come true for me, getting another Black woman supporting me and mentoring me,” Nyamumbo said.
“All the other women farmers that we work with — they’re going to be so excited.”

Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank.”

Get CNBC’s free [I][B]Warren Buffett Guide to Investing[/B][/I], which distills the billionaire’s No. 1 best piece of advice for regular investors, do’s and don’ts, and three key investing principles into a clear and simple guidebook.

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Nilijaribu kusema uyo mluhya yuko na body tamu nikapigwa ma sweep mbaya:D