Palmini Net Worth – How Much is Alfonso Tejada Worth?

Palmini is a pasta substitute. It’s made from a vegetable called palm heart. The product has about three to four grams of carbs per serving, which is much lower than the carbohydrates in traditional pasta. In addition, it is gluten free and contains less sugar than regular noodles. As a result, it’s popular among those who follow a ketogenic diet. Those following a Paleo diet also enjoy Palmini.

The inventor of the product is Alfonso Tejada. Before Shark Tank, he sold just a few cans of the product a day. He was convinced that his patented palm-heart pasta would become the next big health food craze. And he was confident that the Sharks would give it a shot. But he wasn’t sure how much revenue he would make from his efforts.

After his appearance on Shark Tank, Palmini quickly sold out its inventory. The company received calls from retail giants such as Walmart, Wegmans, and Albertsons. Eventually, Palmini became available at select stores in Whole Foods and Kroger. Within a couple of months, the product was sold out at Amazon.

When Palmini first appeared on Shark Tank, the company had only been in business for a year. However, it was quickly growing. By the end of the year, sales had increased to a total of $4 million. Ultimately, the company’s valuation was likely to be at least $1 million.

The Palmini company is a subsidiary of OA Foods. OA Foods sells imported quinoa from Bolivia. The company’s founder, Alfonso Tejada, originally created the product to fill the void in the low-carb market. Eventually, he introduced products like rice and mash. These are now available on the OA Foods website.

Although Alfonso initially wanted to raise $300,000 for 10% equity, Mark Cuban and Lori Greiner offered $300,000 for 25% ownership. Ultimately, Tejada countered with a $300,000 offer for 18% equity.

At that point, the Sharks weren’t too impressed with the taste. They said they didn’t think it could replace traditional pasta. Nonetheless, they were impressed by Tejada’s passion for the product. During the shark tank episode, he presented three dishes for each of the sharks. Despite the mixed reviews, the company’s sales skyrocketed. This increased the company’s revenue from $10,000 to $100,000 in just two years.

While Alfonso Tejada’s initial batch of palm-heart pasta was only a few cans a day, he believed his product would be a success. So he went searching for a strategic partner. Luckily, he found a relative who owns a factory in Bolivia. Together, they developed a specialized equipment for processing the product.

In early 2017, Alfonso expanded his business and began selling Palmini. With the new product, he was able to add it to his growing line of quinoa, chia, and rice. His net worth is estimated at 3.7 million USD as of 2022.

On the Shark Tank episode, the product was presented with an adorable mascot. This mascot kicks calories in the face and punches a carb cutout in the stomach. Since then, the brand has risen in popularity. Today, it’s one of the most popular pasta brands on Amazon.