Episode erupted a collision in 10 times Shark tank While Barbara Corcoran and Kevin struggled to invest in O'Leary Jica foods. Mexico Turnip-based food company, led by the Foreign Ministry and Melissa Wang, required $ 300,000 for 3% capital. Barbara approached 9% of Kevin, after offering $ 300,000 for 10% capital with the distribution of pro-rata.
Barbara stressed the experience of the food industry and called on Kevin to protect his position.
“I know what I do. This is sales and marketing. I know better than anyone. Of course, I can surrender as beautiful, in fact, because it is an extreme stater,” Barbara firmly stated .
This Shark tank Negotiations were concluded with a 6% capital and 3% of the share of $ 300,000 in investment with Barbara. Until 2024, this agreement helped the President of Jica Foods to expand 1600 retailers from the Western United States of Western United States.
Jica Foods Deal became a battlefield for Barbara and Kevin Shark tank
Foreign Ministry and Melissa Wang presented Jica's food from Jicama chips in the Snack category in 2015. Initial stage, the credit card debt reached $ 70,000 and brought significant financial tensions with the fall of the bank's balance to $ 300. In 2019, their strategic change company focuses on freshly cut gypsy products, presents the dressing, sticks and specialized sales.
This Shark tank The company's sizes showed an important growth after the passage of this product. The sale increased by $ 1 million in 2019 in 2019 in 2019. The $ 6 million project for 2022, the $ 5 million in sales for 2021. and retail prices from $ 4.99.
Barbara Corcoran has opened a negotiating with $ 300,000 for 10% capital by adding a program to distribute the pro-rata. Kevin O'Leary replied By offering the same investment funds when 9% of capital requires, the placement of Barbara's capital requirement. Foreign Ministry offered to lower the share of Barbara to 5%, but he stood strongly in the demand of original capital.
The discussion reminded the market value of Jica Foods, 25 times a profit of 25 times with Kevin. The guest Shark Gwyneth Paltrow recognized the potential of the product by referring to Jicama recipes in the published food book. Mark Cuba and Lori Greiner highly appreciated and did not offer.
The Foreign Ministry submitted a revised offer from 7% of equity for both sharks. Kevin and Barbara rejected this offer at the same time. Negotiations changed when the Foreign Ministry emphasizes the needs of marketing and sales experience. Kevin expressed his ability to expand retail communities. Barbara, in advance of this claim in advance of the food industry network and marketing experience Shark tank Investments.
Foreign Ministry has brought packaging and brand examination, and Melissa is a quality control experience from the drug sector. A starting accelerator program for healthy food institutions, a starting accelerator program, demonstrated the loyalty to market growth.
Melissa Barbara entered the opposite proposal. Shark tank The guest investor offered 6% capital 2% was combined with a share of consulting. Barbara has made these terms by requiring a 3% consultation share while keeping the base capital at 6%. This modification created a 9% overall property position for Barbara's $ 300,000 investment.
In the agreement, Barbara's marketing support and industrial relations were included. The bargain appreciated Jica's foods significantly less than $ 10 million worth of assessment. Both Kevin and Barbara He was engaged to the final decision, and Barbara proved to be decisive with the food industry.
The result of the deal
According to the shark tank blog, the closing status of the transaction was not approved from six months after the episode was released. Nevertheless, Jica Foods has expanded its retail tracks up to 1,600 locations. The company provided the shelf space in all meals, sprouts, vons, pavillions and Albertsons in the Western United States in the United States.
The same media output, financial dimensions increased by 2024 increased. The company's net worth reached $ 5.1 million by January 2024. In early 2024, during retail sales during the construction of more than 600 seats, the results of retail sales grew from 700 stores.
Shark tank Season 16 Broadcast on ABC network.
Edited by Rachith Rao