Snacklins is a famous brand of vegan snacks made entirely from natural, plant-based components. The manufacturer of this food claims that it looks like pig rinds but is vegan. Samy Kobrosly launched this line of vegan and healthy snacks in December 2015. Kobrosly is from a Muslim family, so his pals often made jokes about how lousy pork rind and chicharrones tasted whenever they got together. Kobrosly decided to create a pig rind without using any actual pork.
He began trying out new recipes in the comfort of his kitchen. He made a vegan snack that tastes like pork rind by combining yuca, mushrooms, and onions, spending a lot of money. Founder Samy Kobrosly and his company went on Shark Tank Season 11 Episode 4 and pitched a valuation of $10 million to the investors in exchange for $250,000 for 2.5% equity. Kobrosly has requested a hefty price tag for his business.
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Net Worth of Snacklins?
It is estimated that Snacklins is currently worth $20 million. The company has flourished since its appearance on Shark Tank, and its products can now be found in many major U.S. retailers. According to the data provided by Curnchbase, Union Kitchen has put $2 million into this business, $1 million of which was put in on January 2, 2023.
What are Snacklins?
Snacklins is a healthy snack company headquartered in the nation’s capital. This company is known for producing a variety of flavorful treats using Yuca, Mushrooms, and Onions. There are no animal products in any of the snacks. In addition to this, a single snack pack has 80-100 calories.
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Snacks with a variety of flavours, including barbecue, nacho, cinnamon churro, teriyaki, and more, are produced by this company. All of these munchies are crunchy in addition to being nutritious. Whole Foods Market, Morton Williams, Fairway Market, Walmart, and other retail locations around the United States stock the item.
How Was The Shark Tank Pitch Of Snacklins?
After entering Kobrosly’s shark tank, he gave a presentation to the sharks, detailing the origins of the company and how it came to be. The sharks had a taste and enjoyed it so much that Kobrosly now owns 30% of the company.
A ten per cent stake in the company, he claims, has been transferred to an employee. They made $200,000 in sales in the previous year and are expected to make $2,000,000 this year. This is because noise may be purchased nationwide at various convenience stores and other retail outlets.
So far, they’ve managed to collect $1.5 million. Mark Cuban is the only one left after all the other “sharks” have left, and he wants a better deal. Mark declined Kobrosly’s offer of $250,000 in exchange for 5% ownership. Mark has offered $250,000 in exchange for 5% equity and 5% convertible advisory shares over three years—kobrosly accepted the deal.
What Happened To Snacklins After Shark Tank?
The episode of Shark Tank helped boost sales for this particular brand of snacks. The low-calorie content of this brand’s snacks came as a shock to many customers, as there are relatively few snack brands that come in at such low numbers. Many people enjoy junk food, but this brand offers a healthier option that still tastes great. The company’s initial forecast predicted annual sales of $10 million by 2021.
Products from this brand were sold in all of Stop & Shop’s more than 300 locations across the United States by 2020. Snacks from this brand will be sold at numerous grocery and convenience stores across the United States by 2022. Mark Cuban released a social media post in August 2022 announcing that Pan’s Mushroom Jerky and Snacklins were now sold at HEB Stores in Texas.
Sales for this firm reached over $4 million by the year 2022. In April of 2023, SNACKLINS began a funding campaign on the website Wefunder with an initial goal of $100,000. Since being public, the company has brought in $15 million in sales. There are currently over 2500 stores that sell this product. These stores include Stop & Shop, HEB, Whole Foods, Sprouts, Wegman’s, and many more.
Snacklins Shark Tank Update
Shark Tank was an excellent success for Snacklins. The company’s valuation is too high, a point reiterated by each shark. However, a later arrangement with Mark Cuban for 5% stock was struck. In episode 6 of season 13, the status of this corporation was updated.
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It has been reported that this company’s wares may now be purchased at over 2,500 outlets, including grocers like Whole Foods, Sprouts, Wegman’s, and many more. We’re keeping an eye on Samy Kobrosly and his firm for developments.
Is Snacklins Still In Business?
It’s one of the Middle Atlantic’s most rapidly expanding snack food companies. So far, this Shark Tank enterprise has done exceedingly well. Forbes, Inc. Magazine, The Business Journals, and many more have all written about the company.
There are currently between 11 and 50 people employed at this private corporation, which has its headquarters in Washington, District of Columbia, United States. The answer is yes; as of April 2023, Snacklins is still operational.
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