What is Ari Tolwin’s net worth?
Introduction
An entrepreneurial spirit from a young age, Ari Tolwin has become a popular name after his Shark Tank appearance.
How did Tolwin become the entrepreneur he is today, and where is he since his TV appearance?
The Origin Story
From a young age, Ari Tolwin aspired to become an entrepreneur.
As a young boy, he spent a lot of his time thinking up new, creative business ideas.
By age 12, Ari used his bar mitzvah money to purchase $400 worth of CDs to sell to his classmates at school.
From selling CDs to selling baseball cards, Ari got his first lessons about making money and securing buyers from his schooldays.
Ari stated that even when playing with his toys, he turned every game into a competition.
He also spent a lot of his time growing up reading about entrepreneurs, which influenced him to pursue his business ventures.
Ari chose to combine his love for history and education with his passion for entrepreneurship when pursuing higher education.
Tolwin attended the University of Pennsylvania, where he received an undergraduate degree in Political Science.
He then went on to Drake University, where he received his M.B.A.
After graduating, Ari began his working life at a global management consulting firm, McKinsey & Company. Though he never gave up his hopes of having his own business.
Happy Tree Maple Water
While Ari’s older brother Chaim invited him to visit New York to see how he made maple syrup from his maple trees, his first business venture was birthed.
Tolwin stated that his brother explained to him that water came out of the trees, and he decided to try it.
Realizing how good the water tasted, Ari and his brother decided to start the company Happy Maple Water in 2014.
Ari and his brother raised $1.6M to fund this business.
The maple water was sourced from maple trees during the spring and contained natural vitamins, electrolytes, and antioxidants.
After three years of operation, Ari didn’t receive the level of success he was hoping for and decided to move away from Happy Tree Maple Water.
He stated that although the maple water business was awesome, ultimately, the industry was too difficult.
Numilk
Ari’s clean, plant-based diet brought to his attention the lack of tasty plant-based kinds of milk.
This motivated him to create a plant-based milk that was not only healthy but also delicious and scalable to grocery stores.
Inspired by the peanut butter grinder at Whole Foods, Ari along with a friend, Joe Savino, brainstormed ideas until they finally settled on Numilk.
Ari’s vision was to create plant-based milk that could be made fresh on location at the grocery store.
He enlisted the aid of a German company to manufacture a miniature milk processing mill that can be hosted at grocery stores.
In 2018, after raising $12 million from investors, NuMilk was launched.
On the first day in store, NuMilk sold 130 bottles, and by the second day, it was up to 170 sales.
However, mechanical issues coupled with the pandemic caused the machine to be turned off.
The issues faced during recent events lead Ari to realize the need for customers to be able to access his product from home.
Thus, the idea for a home mini-mill was birthed, all he needed was the funding.
Shark Tank
When Ari Tolwin applied to Shark Tank, he was unsure of whether or not their application would have been selected.
But, in 2021, Numilk’s founders made it to an episode of Shark Tank.
Billionaire investor, Mark Cuban, decided to take a chance on their business by investing $2 million to develop the commercial side of the business.
He offered them $1 million in cash and the other $1 million for a 7% share of the company.
Ari has since partnered with several grocery stores, cafes, and coffee shops to make his product available to the public.
Kickstarter Campaign
Ari created a Kickstarter campaign on March 25, 2021, to fund the NuMilk Home plant-based milk machine.
He’s raised over $220 thousand with over 880 backers.
Was Numilk successful after Shark Tank?
Although the company had a high valuation, NuMilk has suffered many losses over the years.
In 2018, NuMilk suffered a loss of $2 million after generating $40,000 in sales.
The following year, in 2019, they lost another $3 million with only $320,000 in sales.
In 2020, although the sales increased to $400,000, the company still lost $2 million.
Mark Cuban’s investment has aided the company in bouncing back from its series of losses, however, it’s still believed that the company may still be in the red.
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Family and Personal Life
Ari Tolwin has established himself online as an entrepreneur and the founder of NuMilk and has barely shared any personal details on any of his social media accounts or otherwise.
There are no details on whether Ari is married or has any children at this time.
Ari Tolwin – Net Worth
Tolwin earned most of his wealth from co-founding Happy Tree Maple Water and Numilk.
Therefore, Ari Tolwin has an estimated net worth of $1 million.
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