Wally Amos Appeared on Shark Tank but the Sharks Passed on a Deal — Watch the Late Cookie Creator's Pitch

The late Wally Amos never gave up on his dream.

The founder of cookie giant Famous Amos died Aug. 13 at the age of 88 from complications of dementia, PEOPLE has confirmed. But the baked good mogul continued to throw and sell new treats right up until the last few years of his life.

In 2016, Amos appeared on Aquarium for sharks introduce the hosts to his new cookie company inspired by his time in Hawaii. Called Cookie Kahuna, the company’s merchandise used Hawaiian flavors like macadamia nuts, while also offering classics like chocolate chip.

In the episode, Amos could be seen wearing his signature hat and a stack of beaded necklaces as he asked the sharks for $50,000 in exchange for 20% ownership in the cookie brand.

Wally Amos, founder of Famous Amos Cookies, has died at 88

“I’ve been selling cookies for 40 years,” Amos said in the episode. “And for a long time I actually thought I was selling cookies. But it dawned on me that I wasn’t selling cookies, I was selling happiness.”

Armed with a cardboard cut-out of himself and a kazoo — which he used to carry around often — Amos gave the sharks, including Mark Cuban, Barbara Corcoran and Lori Greiner, a taste of his new brand of cookies and recalled how his time as owner of Famous Amos had gotten diluted over time and he lost the rights to his name and image.

“What went wrong was — I’m a damn good promoter, but I’m not a business guy and my focus wasn’t on how much money I was going to make, I just wanted to have a good time,” the late entrepreneur recalled.

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Despite his earnest attempt, the sharks ended up not biting the bait. After looking at Amos’ shipping and packaging costs, Robert Herjavec criticized the company for not having a high enough profit margin.

“It’s good to love the product. It’s really important to love the job,” said Herjavec at the time. “[But] Your cost is too high, you have limited distribution. Sorry, I’m out.”

Playing himself on the kazoo, Amos left the studio with no investment from the sharks — and his cardboard cutout under his arm.

Wally Amos at his store in Kailua, Hawaii.

AP Photo/Lucy Pemoni

“I just know that this was just another step in my journey,” he finished, ending his time Aquarium for sharks.

The brand was eventually closed in 2018.

After leaving Famous Amos, Amos founded several other brands, including Uncle Noname (referring to the loss of his name and image) and Uncle Wally’s Muffin Co., which is still in business today.

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Shawn and Sarah Amos, two of his children, said The New York Times that he died at his home in Honolulu on Tuesday, August 13. His family and Famous Amos’ current owner, the Ferrero Group, confirmed Wally’s death to PEOPLE as well.

“Ferrero and the Famous Amos team are saddened by the loss of Wally Amos and our thoughts are with his family. His cookies brought joy to millions and inspired generations of entrepreneurs. We will continue to work to honor his legacy,” Ferrero said in a statement.

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Wally is survived by his two children, Gregory and Michael, and his wife, Carol Williams.

“Our dad inspired a generation of entrepreneurs,” said Wally’s children CBS News. “With his panama hat, kazoo and boundless optimism, the famous Amos was a great American success story and a source of black pride. He is also a part of our family story for which we will forever be grateful and proud.”

Categories: Trends
Source: HIS Education

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