Coco Taps Shark Tank Net Worth
Coco Vinny Net Worth
Coco Taps is a unique coconut tapping system that allows consumers to drink fresh coconut water from their coconut without spilling it. It is a product that has been developed by Vincent Paul Zaldivar, better known as Coco Vinny. The founder of the company plans to open a factory in Nevada by next year to produce his own organic coconuts.
Coconut Taps was launched in the United States in early 2017 and was featured on Shark Tank Season 9 in December 2018. Although it failed to secure funding during the show, Coco Taps has now been sold to The Wynn in Las Vegas and was also introduced at the first vendor event in August 2018.
The company’s net worth is currently estimated to be around 1.5 million dollars. Before launching Coco Taps, Vincent Paul Zaldivar was not a fan of drinking coconut water. However, he had heard about the benefits of it and tried packaged versions. He subsequently tried a coconut water product from an island country, but he was not impressed with its taste.
The Coco Taps presentation starts with the entrepreneur walking out on stage wearing a Hawaiian shirt. After a brief ukulele song, he introduces his product and the benefits of coconut water. Then, he explains the process of drilling holes in a coconut and using a spigot to reseal the water. This device is reusable, so it can be reused many times. At the end of the presentation, he shows off his Coco Tapper.
Coco Taps was founded by Vinny Zaldivar, who is also the CEO of the company. His primary goal for the Shark Tank is to convince the sharks to invest $150,000 in exchange for a 10% share of the company.
Coco Taps sells do-it-yourself tap kits for coconuts. They also sell a coconut beverage line and coconut openers. Most of the business is sold to resorts along the Las Vegas Strip. As of 2017, the business had nearly $250,000 in gross revenue sales. A projection indicates that the business could double that in the coming year.
Coco Taps founder and CEO, Vinny Zaldivar, was a guest on Shark Tank Season 9 in December 2018. In his pitch, he asked for a $150,000 investment in return for a 10% stake in his business.
He said that he wants to be able to double his sales this year. He also hopes to turn his business into a zero-waste company by 2020. Currently, 80% of his business is in pre-tapped coconuts, while 20% is in the coconut openers and kits. He also says that the cruise industry would be a good market for his company.
Coco Taps has a resealable cap that can be sealed to the coconut water for up to four weeks. It also comes with a spigot-like piece that can be used to reseal the capped coconut. Lastly, Coco Taps has a coco chill lounge in Las Vegas. With the help of Barbara Corcoran, the company is now able to expand into the franchise business.