When entrepreneurs appear on “Shark Tank,” they pitch their businesses with the hopes of walking away with a deal.
By Ngozi Nwanji
Back in 2021, Tyla-Simone Crayton appeared on the show and closed an investment. However, the 19-year-old claims she has yet to receive it.
At the age of 14, Crayton launched Sienna Sauce, a New York-inspired sauce company. After pitching to the Sharks, jewelry designer Kendra Scott said she would invest $100,000 for a 20% stake of the company. In February, nearly two years later, Crayton revealed that the investment still hasn’t been finalized.
“We didn’t receive the $100,000 because we’re still in due diligence,” Crayton told Inside Edition. “We’d love to have her. We’d still be interested but it just hasn’t come into fruition.”
Taking matters into her own hands, Crayton and Sienna Sauce are raising capital and have gathered over $102,234 (as of this writing.)
Following the young CEO’s disclosure of the deal’s status, Scott and her team came forward with a statement.
“Sienna Sauce and Kendra Scott are doing their due diligence on the deal made on ‘Shark Tank,’ and have not yet come to an agreement as it relates to financial investment,” a representative for Scott stated.
“Shark Tank” didn’t respond to Inside Edition’s request for a comment.
Despite not receiving Scott’s investment yet, business has been flourishing for Sienna Sauce. According to the outlet, the company sold $300,000 worth of products in 24 hours after Crayton’s appearance on “Shark Tank.” What’s more, in over three years Sienna Sauce raked in $1 million in revenue and is in over 500 retailers.
While running her business, Crayton is currently a sophomore at the University of California at Berkeley and plans to apply to its business school.
However, her journey to success was not a straight line. At one point, she and her mother, Monique Crayton, faced a time where they were homeless after being kicked out of their home. Through perseverance, Monique has been right beside her daughter in the Sienna Sauce venture.
“I am grateful and humbled and I’m inspired by my daughter everyday,” Monique Crayton said. “It’s just fulfilling to watch her grow this brand and do it now while being a full-time student as well. That’s even more impressive for me as her mom.”
The two are now working to get Sienna Sauce in restaurants and school cafeterias.