Details You'll Want To Know About Shark Tank's Fishwife

Tinned fish has become the new rage in the culinary world. Ever since the love for canned fish meat went viral on TikTok and the rise of a number of luxury tin goods, consumers have begun to embrace the savory flavors of packaged anchovies, tuna, and even barnacles. With so many now embracing the art of canned seafood, it was only a matter of time before a noteworthy tinned fish manufacturer appeared on "Shark Tank." On January 12, 2023, the company Fishwife presented its products to the Sharks.

Created in 2020 by Becca Millstein and Caroline Goldfarb, Fishwife sells a variety of ethically sourced tinned fish both online and in various retail locations. In fact, Fishwife even has a map on its website that allows you to input your ZIP code and find the nearest provider that sells Fishwife products. As of now, Fishwife sells premium versions of canned anchovies, salmon, tuna, and trout as well as a wide variety of merchandise and bundles.

According to Millstein and Goldfarb, the two reclaimed an old, misogynist term for the name of their company. Much like other degrading terms that started out as simple descriptors for women, the term fishwife initially referred to the wives and daughters of fishermen who would sell their products on the market. It eventually entered the dictionary as a negative term against women, which Millstein and Goldfarb have proudly taken back.

The billion-dollar industry behind canned tuna and other tinned seafood products has steadily grown in size over the past few years, and Fishwife is certainly no small part of it. During her appearance on Shark Tank, Millstein revealed that Fishwife earned $750k in 2021, $2.6 million in 2022, and was on track to make $5.8 million by the end of 2023. Reviews of Fishwife products are nothing short of raving, highlighting the company's focus on quality and sustainability, although a few users on social media have criticized the company for its high prices.

Fishwife is bound to get an uptick in revenue from the publicity that comes with appearing on the show. Millstein and Goldfarb are certainly aware of these benefits, as the company began selling a "Shark Tank" bundle after advertising the airing of the episode on the brand's TikTok page.

@eatfishwife

YOUR FAV TINNED SEAFOOD CO. IS HEADED TO THE TANK 🤩🦈!!!!!! tune in to Shark Tank tomorrow night (Friday Jan. 12th) at 8/7c on ABC 📺!!!! YEEHAW 🤘🏼!!! #fishwife #sharktank #sharktankproducts #abc #sharktankusa #greenscreen

♬ Cashapp Duncanyounot – Duncan Joseph

Spain and Portugal take their tinned fish seriously. For decades, home cooks in these countries have used high-quality canned seafood as bread toppings or part of a charcuterie board, eventually dubbing these umami-rich products "conservas." While initially aiming for a career in the music industry, Becca Millstein first experienced these delicacies as a college student studying abroad in Spain. This experience became one of the initial factors inspiring her entry into the tinned fish industry during a 2020 hike with Caroline Goldfarb.

Millstein's connections with Spain and Portugal's conservas cuisine extend further. To this day, Fishwife sources many products from seafood canneries in these European countries, as well as from local manufacturers across the United States. Goldfarb has since moved on from the company to focus on her career as a TV writer for shows like HBO's "The Sex Lives of College Girls," though she continues to promote Fishwife on her Instagram page.

The Sharks quickly fell in love with the Fishwife brand. After presenting her products, Becca Millstein offered the judges sample dishes, including onigiri and smoked rainbow trout dip on pita chips made with Fishwife tinned fish. Guest Shark Candace Nelson praised its flavor, while Kevin O'Leary couldn't stop eating it straight from the can.

In the episode, Millstein sought $350k for a 4% stake in her company to fund a national retail partnership with Whole Foods, set to start selling Fishwife products in April 2024. O'Leary proposed a $350k loan with 11% interest over three years, plus 5% equity. Daymond John countered with $350k for a royalty of 15 cents per unit sold in perpetuity. Nelson and Lori Greiner offered $350k for a 10% stake and a partnership with Boarderie, a previous Shark Tank company that Lori struck a deal with. Mark Cuban didn't make an offer.

After negotiating with Nelson and Greiner, Millstein countered, asking if they would offer $350k for a 6% stake and 2% in advisory shares. They agreed, concluding with a celebratory hug, and Millstein left overjoyed at successfully landing her counteroffer.