It took Stephen Longo a year to develop the recipe for his Orka Bar, a healthy frozen treat he makes at the Asbury Park Food Collective.
But it only took him a few TV minutes to land a deal on “Shark Tank.”
Longo, 36, of Belmar appeared on the ABC show on Oct. 22, when he pitched his business to investors Lorie Greiner, Kevin O’Leary, Daymond John, Kendra Scott and guest “Shark”: Reddit founder Alexis Ohanian. By appearing on the show, he hoped to land a deal that would allow him to expand production of the chocolate-dipped bar, which he sells online and in local gyms and vitamin shops.
Longo asked for a $100,000 investment in exchange for 15% equity in his company.
Stephen Longo, who makes his Orka Bar protein treat in Asbury Park, appeared on the Oct. 22 episode of ABC’s “Shark Tank.”
The Sharks liked the flavor of the bars, which are made with egg whites, whey protein, light cream and come in flavors like cookies and cream, vanilla bean, raspberry, chocolate mousse and mint. John said it was “the best thing I’ve tasted in this category.”
O’Leary, John, Scott and Ohanian ultimately declined to make an offer, citing the fact that Orka Bar is a young company or the business wasn’t in their wheelhouse.
Greiner, though, offered the money Longo was hoping for in exchange for a 33.3% stake in the company. After some negotiating, they agreed on 25%.
Choosing to appear on the show, whch shot earlier this year, was about what the investment could do for his business, Longo told the Asbury Park Press following the episode. “But a big part of this was gaining a mentor and a partner who had experience in this industry,” he said, “and had a tacit knowledge of the domain and bringing a product like this to market, and (about) what I could learn from them.”
Longo, a competitive beach volleyball player and certified nutrition coach, told the Sharks he created the bar because “every time I came off the beach from my training and my workouts, I was constantly looking for something refreshing and restorative, and I was tired of protein bars, I was tired of protein shakes.
His work in nutrition also played a part. Clients often asked about what they weren’t “allowed” to eat, “and that was never my approach,” he said.
Longo first introduced the bars to the public at Jersey Strong in Wall.
“The gyms [are] what I think is really so special about this product,” he said, “[because] it is not only the ability to bring something new and innovative to the traditional frozen category in the grocery store, but also into the hands of the consumer at their local gym.”
Since landing the deal, Longo — who runs the business with help from one other person — has experienced a large influx in orders.
“It’s overwhelming, but it’s also reassuring,” he said. “This many people were like, ‘Oh my god, I want this in my life.’ “
Sarah Griesemer joined the USA TODAY NETWORK in 2003 and has been writing all things food since 2014. Send restaurant tips to sgriesemer@gannettnj.com, and for more Jersey Shore food news, subscribe to our weekly Jersey Shore Eats newsletter.
This article originally appeared on Asbury Park Press: Belmar man lands Shark Tank deal with his healthy dessert
