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When the SoCal based married couple, Saphira and Maurizio Rasti, first walked onto the ABC series “Shark Tank” in their matching bright pink hats and jumpsuits to pitch their allergen-friendly dessert company, Nowhere Bakery, the excitement could be felt through the screen. Saphira, with her smiling demeanor and endearing Aussie accent, and Maurizio, with his comedic air and upbeat attitude, began by explaining the major pressing issue of their relationship: Maurizio’s insatiable sweet tooth and Saphira’s sensitive stomach. As Saphira politely put, Maurizio’s “stomach is bullet proof, he could eat a razor-blade and be totally fine.” Hers? Not so much.
Due to Saphira’s stomach sensitivities and food intolerances, she found herself stuck between store-bought dessert options that Maurizio could only describe as tasting like “wet sandals.” So, when it came to satisfying her sweet tooth — and Maurizio’s tastebuds — Saphira’s only choice was to start whipping up her own allergen-friendly baked goods from scratch inside of her tiny, Hong Kong apartment. A pre-made alternative was “nowhere” to be found — hence, the beginning of Nowhere Bakery. What started as an online dessert blog eventually led to three failed business ventures and a round of “MasterChef” auditions before appearing on “Shark Tank,” looking for $200k for a 5% stake in their company.
What happened to Nowhere Bakery on Shark Tank?
Free from dairy, eggs, gluten, soy, fine sugar, sugar alcohols, and paleo friendly, Nowhere Bakery’s desserts offer the best of both worlds. Decadent in both taste and texture, and made with clean, allergen-friendly ingredients, Saphira and Maurizio didn’t hesitate to present the sharks with a long lineup of their sweet treats — including a chocolate chip cookie, a candy bar cookie, an almond butter brownie, a blondie, a tag cookie, and an ABC sandwich cookie.
Upon the first bites, none of the sharks — which, on this episode included Kevin O’Leary, Mark Cuban, Lori Greiner, Robert Herjavec, Barbara Corcoran, and Jason Blum — had any complaints or critiques. In fact, after his first taste, O’Leary blurted out, “I congratulate you, we’ve had so many plant-based cookie deals and they all taste like s***.” Corcoran agreed mid-bite, chiming in with “This tastes like a real cookie,” while holding the chocolate chip cookie in hand.
They weren’t just there to talk cookies, however. Since none of the other sharks had any objections pertaining to the taste and quality of Nowhere Bakery’s desserts, O’Leary quickly turn the conversation towards the business side of the bakery. After digging into the numbers — which were impressive, especially considering the Rastis started the company with just $400, two weeks before the COVID-19 pandemic — the offers started rolling in. But, they did come with some contingencies.
Nowhere Bakery after Shark Tank
After going across the panel of investors, Saphira and Maurizio were presented with two offers. One was from Corcoran at their asking price, but for 10% more equity — totaling to $200k, divided evenly between cash and credit, for 15%. The other offer came from Cuban at their asking price, but for 15% more equity — totaling out to $200k for 20% equity, and with the added requirement of bringing in a co-packer to prepare the desserts for them. In the end, Saphira and Maurizio weren’t ready to step out of the kitchen. After talking her down to a 12.5% stake for the same asking price, Nowhere Bakery left “Shark Tank” with a $200k investment deal with Corcoran. But, what happened after they left?
When Saphira and Maurizio walked with their deal, their company was valued at $1.6 million — not too shabby for a cookie business that started with just $400. But, since the episode aired, they’ve seen an increase in sales and expanded to 75 stores across the U.S., including popular health-food stores like Sunlife Organics, grocery stores like Sprouts Farmers Market, and trendy cafes like Alfred Coffee and FoxTrot Market. The couple was able to expand the company’s growth through a holiday cooke box collaboration with Gwyneth Paltrow, which may or may not have had something to do with its chocolate chip cookie winning the Shelfie Award in 2022 for the best baked good.
Is Nowhere Bakery still in business?
Following Harvard Business Review’s average yearly growth rate of 10% for companies, Nowhere Bakery’s current net worth can be valued around $1.94 million — and it’s safe to say the business is still running. That much is also made clear by the regularity of its posts on Instagram and TikTok, where the brand shares videos and images of its desserts being made, highlighting the allergen-friendly ingredients they’re made from. You’ll also find daily vlogs posted by Saphira, along with fun family content featuring Maurizio and their toddler doing challenges featuring the brand’s sweets.
Other posts showcase the brand’s partnerships and collaborations. Back in March, Nowhere Bakery posted a video showcasing its lemon poppyseed blondies, which were made in collaboration with Carissa Stanton Dutina, a New York Times best-selling cookbook author and creator of the online health food blog, Brocc Your Body. More recently, Nowhere Bakery also teamed up with Tori Dietz and Tayla Burke, the co-hosts of the Did We Just Become Milfs podcast, to make a special Mothers Day cookie box that can be purchased directly via the Nowhere Bakery website.
Apart from shopping in store and directly through the website, Nowhere Bakery sells its vegan sugar and vegan chocolate chip cookie mixes via Amazon — so you can enjoy their recipes fresh out of the oven from the comfort of home. Otherwise, packs of their treats sell in packs of six and 12 for $40 or $70, not including shipping.
What’s next for Nowhere Bakery?
As far as what’s next for Nowhere Bakery, business seems to be going as usual for now. As Saphira continues to utilize the network she gained during her time as a food blogger, as well as the wider net of brand awareness generated by the company’s appearance on the show, social media and brand collaborations seem to be the primary mode of growth. Her and Maurizio are based in SoCal, after all — but, even in the midst of influencer marketing, they seem to be doing so while holding true to their vegan baking business’s values.
The Ristas declined a deal from O’Leary because they wanted to continue to be a 100%, family run business. However, they also wanted to “take Nowhere Bakery everywhere” — to quote their “Shark Tank” pitch directly. With a growing toddler on their hands, as well as a thriving business, the two seem to have made the right decision for their family and their business. Apart from seasonal collaborations with celebrities, food writers, and influencers, Saphira also posts regular family and mom content on her personal Instagram page.
From the outside looking in, one can only assume the Ristas are focusing on their family life, and letting that lead the business in an organic way — just like their ingredients. Make sure to follow Nowhere Bakery online to get updates on any upcoming products, and keep an eye out for their desserts in stores near you.
