• 6 months ago
On the food-focused season 11 premiere of 'Entrepreneur Elevator Pitch,' contestants serve up new business opportunities to our board of investors. Will they dig in?

Here the pitch from Emanuel Storch and Mike Pease of Blackbird Foods, an artisanal producer of plant-based pizza, seitan and wings, and see if our investor like what they hear.
Transcript
00:00Welcome to the elevator.
00:04Hi, I'm Emmanuel.
00:05And I'm Mike.
00:06Tired of being disappointed in the plant-based products that you find at the grocery store?
00:10Well, we're Blackbird Foods, and we've developed plant-based versions of your favorite comfort foods, pizza and wings.
00:17We've done $12 million in lifetime sales since our launch in 2020, and $5 million in just the last 12 months alone.
00:23Help us fix the broken food chain and join our growing business by investing $700,000 at a $14 million valuation.
00:32Thank you.
00:33Thank you.
00:34Guys, that was a great pitch.
00:36That was a great pitch, and at least on the surface, seems like a great company.
00:40You're just talking about a market that a lot of people are really trying to get into.
00:44Yeah, big demand for tempeh chicken wings, is what I understand.
00:48Is that what it's going to be?
00:49I think that's what it sounds like.
00:50Because he said chicken, but he didn't say tempeh chicken.
00:52Well, yeah, is there actual chicken?
00:54That's the point, is there's a little bit of uncertainty here, but I guess the numbers were clear at least.
00:59The numbers were very impressive.
01:01My jaw dropped when they said how much revenue, $12 million.
01:05You got a lot of questions.
01:07Yeah, I do too, actually.
01:11My concerns are not necessarily whether I like to eat it or not.
01:15I like the taste of making money, and that works across the board.
01:19Me too.
01:20My challenge here is that I'm almost entirely a very, very early stage, both operator and very early stage investor.
01:29Yeah.
01:30And your challenges are scaling.
01:32And I'll be the first to say, I don't know anything about that.
01:36Which means I don't have the skills to evaluate the likelihood of this being good or bad.
01:41I can't evaluate whether it's a reasonable valuation.
01:45For that reason, I have to pass.
01:47All right, understood.
01:49Thank you.
01:50Thank you guys so much.
01:51Thank you.
01:52Thank you for your time. Nice to meet all of you.
01:53Good luck.
01:54Good luck.
01:55Thank you.
01:56All right.

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