Expedition Subsahara is a company that specializes in African traditional home décor and craft baskets. They primarily focus on Senegal, African culture. The handcrafted products showcase the beautiful art of Africa.
Expedition Subsahara is founded by Sofi Seck. She established this business to promote Senegal art and culture. She presented her brand in episode 4 of Shark Tank season 14. Her demand was $500,000 for 10% equity. Let’s find out if her products could impress the sharks or not.
Shark Tank Expedition Subsahara Update
- Entrepreneurs: Sofi Seck
- Business: Decorative Baskets
- Ask: $500,000 for 10% equity
- Result: No deal
- Sharks: None
Sofi Seck came to Shark Tank season 14 with the hope of raising funds for her business. She told the sharks that the making cost of an average-size basket is around $18 and they are sold at $50.
She also revealed that the majority of the company’s sales are generated through the official website. At that time the company had generated $900,000 in sales.
The previous year, the gross sales of the company were $1.6 million and she generated a profit of $75,000. However, she confessed that the business generates very little profit and is mostly broke.
After hearing Sofi’s pitch, Kevin O’Leary backed out from the deal as he was not willing to pay the large amount of money required by the business. Lori Greiner was the next shark to drop out.
Mark Cuban couldn’t see a way to get his investment back and therefore he decided to drop out. The same was with Robert Herjavec. The last shark remaining was Daymond John and he backed out too.
Unfortunately, Sofi had to leave the show without any offers. However, that didn’t demotivate her to stop her business. Rather it made her business popular and she gained a good profit out of it.
As per sources, she reinvested to grow and expand her business. However, the cost of marketing and advertising is slightly high.
Sofi’s business went from $500 to $3.6 million. Although the journey was not easy, her hard work made it possible. She said that her business grew exponentially during the Black Lives Matter movement.
After Shark Tank, the company launched a few other décor items such as a yana vase, a raja storage basket, and Juneteenth wishing basket. In August 2023, the annual revenue of the company was $1.5 million.
Appearing on Shark Tank proved to be beneficial for Expedition Subsahara. While Sofi couldn’t secure a deal from the sharks, she got enough publicity for her business from the show. This boosted her sales and profit margin. At present, the business is doing well and moving on the right path.
Expedition Subsahara is all about handcrafted products. They make a variety of baskets and home décor items. All the products are unique and colorful, showcasing the art of Africa. They use natural materials like grass, fiber, and recycled plastic for making the products. The good thing is that the products can be washed with water if they get dirty.