Banana Loca: Here's What Happened After Shark Tank

The lifesize dancing banana mascot named "Loca" wasn't the only thing that made Banana Loca's appearance on Season 13, Episode 9 of "Shark Tank" memorable. Friends and colleagues Renee Heath and Bechara Jaoudeh received "Oohs and Ahhs" from a few Sharks, who were immediately impressed with their product and high-energy pitch.

Reminiscing over Jaoudeh's childhood memories from Lebanon of snacking on pita bread spread with Nutella and bananas, Heath and Jaoudeh wanted to recreate that taste as a low-carb option and came up with Banana Loca. The kitchen gadget straightens, cores, and fills bananas still in their peel. Initially self-funding the company, Heath and Jaoudeh invested $224,000 in developing Banana Loca before taking their prototype (pre-revenue) to an open casting call for "Shark Tank" in May 2019.

Motivated by the positive feedback from producers but needing sales before pitching to the Sharks, they turned to Kickstarter to raise money for their "ap-peeling" kitchen gadget. Offering various incentives and receiving valuable feedback from investors, Banana Loca secured 269 backers, which combined invested $13,958 to fund their first production run of 14,220 units — which filled one shipping container.

Made in China, each Banana Loca costs $6 to produce and retails for $26.99. With a goal of an August 1, 2019 delivery date, and challenged by COVID-19, Heath and Jaoudeh sold $135,000 worth of Banana Locas in the five months leading up to their moment in the shark tank with Mark Cuban, Kevin O'Leary, Lori Greiner, Daymond John, and Robert Herjavec. 

With a minor learning curve, each Shark used the Banana Loca and was immediately impressed. Herjavec called it "genius," and Cuban chimed in, saying the process was "oddly satisfying" and that banana and Nutella was his favorite snack. Seeking an investment of $250,000 earmarked for marketing and ramping up inventory, Heath and Jaoudeh offered 25% equity in Banana Loca.

Herjavec made the first deal offering $250,000 for a $3 royalty on each unit sold in perpetuity. He wanted his social media presence to make this a "Chef Wonderful" exclusive, but Greiner immediately called him out on his greed. She was less impressed than her co-hosts and was shocked by the retail price of each unit. 

John was the first Shark to pass on the deal referencing how his wife throws away all the one-trick-pony gadgets he brings home daily. Greiner quickly followed, saying the company is too new to invest in.

Piggybacking on Herjavec's offer, however, O'Leary proposed $250,000 for a $3 royalty on each unit until he makes $350,000, plus 10% equity in Banana Loca. Thinking he can pour more 'gasoline' on the investment, Cuban teamed up with O'Leary, and they offered $250,000 for 25% equity with a $3 royalty until they recoup their initial investment of $250,000. After a quick attempt at lowering the royalties to $2, Heath and Jaoudeh accepted the offer, and a deal was made.

It appears that Heath and Jaoudeh did what they set out to do and capitalized on the Shark's star power. Following their episode, which aired in December 2021, wholesale orders poured in worldwide. According to the Philadelphia Business Journal, the Pennsylvania-headquartered company saw 100 times more online orders than the other businesses featured in that episode (Max Pro, Liberate, and Tenikle), exceeding Heath and Jaoudeh's expectations. 

The friends took Cuban's advice during the show and kept the product online, not selling it to brick-and-mortar retailers. With the help of viral videos on TikTok, some being viewed over 17 million times, Banana Loca marketed its product globally. Simple demonstrations on how to use the product, as originally intended and not, sparked interest worldwide, beginning with a post from @ourfavoritefinds just a few weeks after the show aired on January 11, 2022. 

Some publicity stemmed from influencers focused on testing Amazon-sold gadgets; others are fans looking for new ways to use the Banana Loca. The hashtag #bananaloca has hundreds of accounts; some make fun of the product, calling it 'ridiculous,' yet they all garner thousands to millions of views and comments. If all publicity is good, Banana Loca is doing just fine. 

Banana Loca is still in business and can be purchased from online retailers like Amazon and the company's website for $28.99. Customers can also take advantage of the "Tank Special" and buy two Banana Locas for $55 with free shipping. Its family-oriented website offers step-by-step instructions for how to use and assemble the Banana Loca. Listening to frustrated users, the packaging now directs customers to the website via a banana graphic holding a stop sign with a QR code. 

To keep customers returning, it provides original recipes beyond the classic Nutella and banana combination to prevent the gadget from collecting dust. Recipes range from kid-centric names like The Peter Peter Pumpkin Eater and The Curious George, which include raspberry jam, plain Greek yogurt, and mint. However, all recipes have an optional ingredient, like cupcake vodka, for adults. Those who like a salty/sweet snack may want to try The Chunky Monkey, with or without the suggested two teaspoons of Baileys.

Banana Loca isn't just marketed to kids — or for bananas. There are "healthier" recipes using chia seeds and suggestions on using the gadget with proteins and vegetables, but also fun alternatives with donuts and cakes. 

The next chapter for the company appears to be further expanding on the ways potential customers can use the Banana Loca. On its website, Banana Loca suggests utilizing the device to fill cucumbers with cottage cheese and jalapeño poppers with cream cheese. Young and old carnivores may enjoy "inside-out" recipes filling hot dogs with ketchup or mustard and sausage links with marinara sauce for a modern take on Italian sausage and peppers. For sweeter snacks and desserts, cupcakes, layer cakes, and churros can be filled with chocolate sauce, caramel, whipped cream, frosting, and Nutella, naturally.

Speaking with the New Jersey Monthly in January 2022, Heath shared with her home state paper that she sees Banana Loca expanding into new markets over the next few years, "My hope is to one day have a food service version. So think about an ice cream parlor making sundaes or smoothie stores and pretzel shops. We can have different outlets that actually retail bananas with whatever filling is appropriate."

At the time of filming, Banana Loca was valued at $1 million by owners Heath and Jaoudeh and their investors, Mark Cuban and Kevin O'Leary. There is no evidence that the deal between the Sharks, Heath, and Jaodeh has been satisfied, as stipulated in their agreement and any information on total revenue or sales is unverified.