Entrepreneurs Josh Belinsky and Manny Lubin took their healthy drink company, Slate, to the Sharks on ABC’s Shark Tank to see if they could get an investment in their business.
Slate is a healthy drink company; they make chocolate milk that is geared toward millennials. The entrepreneurs claim that their lactose-free chocolate milk is rich in protein, vitamins and electrolytes while also offering a great taste.
Belinsky and Lubin pitched their business to Sharks Mark Cuban, Barbara Corcoran, Kevin O’Leary, Lori Greiner and guest shark Rohan Oza. This is Oza’s last appearance in Season 11 of the show.
Here’s what you should know about Slate Milk:
1. Both Founders are Lactose Intolerant
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Meet the Milks: Our rich, Dark Chocolate Milk – a truly revolutionary step for chocolate milk – was designed to match that ever-so-satisfying bite of a 72% cacao chocolate bar, while still offering 75% less sugar than other chocolate milk, 17g of protein, and hydrating electrolytes.
Both Belinsky and Lubin are lactose intolerant, so they needed a milk that was lactose free and better than the YooHoo that they remembered drinking as kids.
The two founders graduated from Northeastern University together, and they thought up the idea of reinventing chocolate milk so they could drink and enjoy it. Since no one else was doing it at the time, they decided to do it themselves.
The entrepreneurs looked around for competitors or other companies making lactose-free chocolate milk, but all they could find were sugary drinks that were not healthy, leading to the founding of Slate.
2. They Offer Three Different Flavors
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Meet the Milks: Our Classic Chocolate Milk, which is our take on our favorite old school chocolate milk, tastes just like your favorite milk chocolate treats – but contains 75% less sugar than other chocolate milk, 17g of protein, and electrolytes that will keep your body hydrated.
At the time of writing, Slate Milk comes in three separate flavors, which are all shipped in aluminum cans.
The current flavors are classic chocolate milk, dark chocolate milk, and espresso chocolate milk. Each flavor can be purchased online in a 12 pack, and they are sold for $35.99.
If someone would like to try out all of the flavors rather than just one, they can purchase the variety 12-pack, which includes four cans of each flavor of milk and is also sold for $35.99. There is also a subscription option available that cuts the price down to $29.99 per 12-pack.
3. The Milk is Sourced from Family-Owned Dairy Farms
Slate Milk is sourced from 30 family-owned dairy farms around the United States.
According to the website, “We source our milk from 30 family-owned dairy farms, here in the United States. These farmers care about their animals. Because of this, they are fully compliant under the AWA (Animal Welfare Act) and make sure the cows are well fed!”
After they get the milk, it is skimmed, filtered and then blended, canned and heated at their production facility.
4. Their Milk is a Low-Sugar Option
Prior to the canning process, Slate Milk goes through a natural process called ultrafiltration that filters out the natural lactose sugars in milk.
Each of the cans advertises 17 grams of protein and 120 calories per serving of milk, as well as 75 percent less sugar than is present in regular chocolate milk.
All three flavors have 9 grams of sugar per serving, and they all include at least 8 grams of added sugar. According to the Slate Milk website, regular chocolate milk has 37 grams of sugar per serving.
5. They Were Funded by a Kickstarter Campaign
Like many other Shark Tank products, Slate Milk was funded by a Kickstarter campaign. The campaign promised chocolate milk that had “Less sugar, more protein, lactose free, delivered to your doorstep.”
The project had a modest goal of $10,000, and they exceeded that, raising a total of $51,833 based on 1,179 backers. The company started in 2017, though the founders took until May 2018 to start the business and begin working on the company full-time.
They had a finished product by December 2018 and launched the Kickstarter campaign in February 2019 with the goal of fulfilling pre-orders starting in the summer of 2019. They had planned to release new flavors in the fall, though those are not available at the time of writing.
Tune in to Shark Tank on May 13, 2020, at 10 p.m./9 p.m. central on ABC to see if the Sharks are interested in this chocolate milk company.