With the exception of preorders, the Peanut Butter Pump had no sales to speak of. The Sharks also weren’t entirely sold on the price, with Scherer pricing the product at $27, which the Sharks felt was too steep (via Shark Tank Global). Yet another red flag surfaced when Scherer confessed that the initial promised delivery date to customers had come and gone. Speaking for peanut butter-lovers everywhere, O’Leary felt that because the pump functioned exclusively for processed peanut butter products, Scherer was excluding those who refrigerate their natural peanut butter. Ultimately, the Sharks felt that the Peanut Butter Pump was an answer to a non-existent problem. Although Scherer left the show with no investment money, he remained confident that somebody, somewhere would take the bait.
To date, Scherer’s invention has raised $166,201 in funds through the product’s Indiegogo campaign. With the first update to backers posted more than five years ago, it’s been a long haul bringing the Peanut Butter Pump to fruition. While Scherer reports that progress has been made, it appears the device is still a ways away from the finish line.