Tyla-Simone Crayton’s journey with Sienna Sauce shows a significant shift in valuation and business growth. Initially, she sought a $100,000 investment for 10% equity, which set the company’s valuation at $1 million.
However, after securing a deal with Kendra Scott for $100,000 in exchange for 20% equity, the valuation was adjusted to $500,000.
Following the airing of the show, Sienna Sauce experienced a notable increase in website traffic, sales, and social media exposure, leading to a current estimated net worth of approximately $740,000 in 2024.
This indicates a healthy growth trajectory, reflecting an annual growth rate of about 10% from its new valuation post-deal.
- Initial Valuation: $1 million (10% for $100,000)
- Valuation After Kendra Scott’s Deal: $500,000 (20% for $100,000)
- Current Estimated Net Worth (2024): $740,000
- Estimated Annual Growth Rate: Approximately 10%
This illustrates both the challenges and opportunities in startup valuations and the impact of strategic partnerships on growth.
Sienna Sauce: Shark Tank Update
Since appearing on Shark Tank, Sienna Sauce has experienced significant growth and success.
- Sales Surge: Sold $300,000 worth of sauce in a single day following the show.
- Total Revenue: Achieved over $1 million in sauce sales since airing.
- Retail Expansion: Now available in more than 500 stores nationwide.
The current estimated net worth of Sienna Sauce is approximately $740,000, reflecting its rapid expansion in the market.
During their appearance on Shark Tank, Tyla-Simone and Monique Crayton received positive feedback on Sienna Sauce from the majority of the Sharks. However, Barbara Corcoran, Lori Greiner, Kevin O’Leary, and Mark Cuban ultimately decided not to invest.
Kendra Scott, on the other hand, expressed significant interest in the business. After tasting the sauce, she proposed $100,000 for a 20% stake in Sienna Sauce. Tyla-Simone and Monique deliberated and ultimately accepted her offer, leaving the Shark Tank with smiles, having secured the investment they desired.
Sienna Sauce: Origin Story
The concept for Sienna Sauce originated from Tyla-Simone Crayton’s childhood. After her favorite restaurant closed, she missed their special wing sauce and decided to create her own recipe. With a desire to make a sauce versatile enough for various dishes—not just wings—she dedicated herself to perfecting it.
With the support of her mother, Monique, Tyla-Simone transformed her recipe into a business. They initially sold the sauce to friends and family, gradually attracting more customers. Despite facing challenges such as finding selling venues and figuring out bottling and packaging, they persevered.
When they appeared on Shark Tank, Tyla-Simone and Monique showcased the uniqueness of their sauce, emphasizing its versatility for use on a variety of foods, not just wings.
