A clash erupted during episode 10 of shark Season 14 when Barbara Kurkuran and Kevin Olyre fought to invest in Jika Fods. The Mexican food company, which is taken from the turnip, led by Shin and Melissa Wang, requested $ 300,000 for 3 % of the shares. After Barbara offered $ 300,000 compared to 10 % of the shares with the Pro-Rata distribution, Kevin responded by 9 %.
Barbara highlighted her experience in the food industry, which prompted Kevin to defend his position.
“I know what I do well. I do sales and marketing. This is how I became rich in the first place. I know it better than anyone else. I can definitely offer the same marketing as the wonderful master, who is believed to be more wonderful before he is actually because he is overpowering above.” Barbara stated firmly.
the shark The negotiation with Barbara insurance concluded 6 % of shares in addition to 3 % consulting shares for their investment of $ 300,000. By 2024, this deal helped expand the presence of Jica Foods to 1,600 retail sites throughout the western United States.
Jica Foods has become a battlefield for Berbra and Kevin shark
XIN and Melissa Wang Jica Foods came to the market in 2015, starting from jicama chips in the snack category. The initial stage brought a great financial stress, as credit card debt reached $ 70,000 and its bank balance fell to $ 300. Transfer strategic change in 2019 the company towards fresh jicama products, inputs of rolls, sticks, and specialized staff.
the shark The company’s standards showed great growth after the product transmission. Sales rose from one million dollars in 2019 to $ 4 million in 2020. The momentum lasted with $ 5 million in sales for 2021, which led to a $ 6 million offer for 2022. Their market strategy included prices with production costs at $ 1.85 For each unit, wholesale prices at $ 2.99 and retail prices at $ 4.99.
Barbara Korkuran has opened negotiations for $ 300,000 for 10 % of the shares, adding a pro -distribution requirement for fees. Kevin Olieri responded By offering 9 % accumulated investment funds, put the demand for stocks in Barbara. Shen Wang suggested reducing Barbara’s share to 5 %, but she stood firm on the requirements of original property rights.
The discussion highlighted the market value of Jica Foods, as Kevin mentioned 25-Times on profits. GWYNETH Paltrow has realized the capabilities of the product, with reference to JICAMA recipes in the published cooking book. Mark Kobe and Lori Grener expressed the product and chose not to make offers.
Sheen made a regenated width of 7 % of the shares for both sharks. Kevin and Parbra rejected this proposal at the same time. The negotiation turned when Shen confirmed his need for marketing and sales experience. Kevin stated his ability to expand retail contacts. Barbara match this claim by highlighting the food industry network and its marketing experience from the previous shark Investments.
Shane brought the experience of packaging and brand, while Melissa contributed to the quality control experience of the pharmaceutical sector. Their participation in Accelfoods showed an accelerated start -up program for health food companies, their commitment to market growth.
Melissa climbed to negotiations with an organized anti -Barbara. shark The guest investor suggested 6 % of shares along with 2 % consulting stocks. Barbara modified these conditions by requesting 3 % of the consulting shares while maintaining basic shares by 6 %. This amendment created a total of 9 % ownership of the $ 300,000 Barbara investment.
The agreement included support for the marketing of Barbara and industry communications. Jica Foods is much lower than the initial evaluation request of $ 10 million. both of them Kevin and Parbra It remains involved until the final decision, as the record of the food industry in the decisive Barbara was proven.
To consider the deal
According to the Shark Tank blog, the closing of the deal remained unconfirmed even six months after broadcasting the episode. Nevertheless, Jica Foods has expanded the retail fingerprint to 1,600 sites. The company got the shelf space in Whole Foods, SPROUTS, Vons, Pavilions and Albertsons across the western United States.
The same media reported that financial scales showed continuous growth during the year 2024. The net value of the company was $ 5.1 million by January 2024. Its product line has been expanded beyond JICAMA’s basic options to include various flavors and coordination. Retailing has grown from 700 stores during filming to more than 1,600 locations in early 2024, which represents a significant expansion in the market.
shark Season 16 It is broadcast on the ABC network.
Edited by Rashthath Rao
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