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Kahawa 1893 founder Margaret Myamumbo strikes ‘Shark Tank’ deal with Emma Grede

Appearing on Season 14 of "Shark Tank," Margaret Myamumbo made a deal with Emma Grede: $350,000 for eight per cent of her coffee business.

Kahawa 1893 founder Margaret Myamumbo strikes ‘Shark Tank’ deal with Emma Grede
Margaret Myamumbo, founder of Kahawa 1893, a coffee company based in New York. She struck a deal with Skims founder Emma Grede for $350,000 for eight per cent of her business. KAHAWA 1893 PHOTO

Margaret Myamumbo appeared on the latest episode of “Shark Tank” on (Friday), Feb. 17 and made a deal with Skims co-founder Emma Grede. She received $350,000 for eight per cent of her coffee business, Kahawa 1893.

Kahawa 1893 sells single-serve cups and coffee blends ranging from medium-light to dark roasted. The brand has 16 SKUs, four of which are sold at Trader Joe's, Target, and Walmart, and has since expanded to other U.S. retailers in recent years. It also sells coffee online via its website.

Sharks Robert Herjavec showed a passionate interest in the coffee brand, offering $350,000 for eight per cent in addition to Grede’s competitive offer. Mark Cuban also floated an offer at Myamumbo.

Ultimately, the Kahawa 1893 founder chose Grede — a Black woman with experience raising 10-figure venture capital debt to grow her inclusive clothing brand.

Myamumbo started the company in 2017 and is the granddaughter of a coffee farmer from Kenya. Her grandfather was a driver for the colonial government and got his hands on some coffee beans to start his own farm.

While prosperous and sometimes profitable for men, coffee farming is not exactly welcoming to women seeking ownership and equity, nor does it pay them fairly.

“Women provide 90 per cent of labour but own one per cent of land,” she said in a pitch to the sharks.

To find balance, Myamumbo’s Kahawa 1893 works with Kenyan coffee farms and collects tips for female workers who harvest and grow coffee beans. She also matches the gratuity to boost their earnings so they can one day own their farms.

“By working directly with farmers, empowering women, and committing to transparency, Kahawa 1893 hopes to share the wealth. That’s a cup of coffee we can all feel good drinking,” she told Forbes.

Myamumbo has an MBA from Harvard and worked on Wall Street before starting the business.

Watch her appearance on "Shark Tank" below.