“Much more wonderful”- when Barbara and Kevin set off for jigning for jic foods in Shark Tank

The conflict broke out during the episode 10 of Shark Season 14. When Barbara Corcoran and Kevin O’Leary fought for investing in Jic Foods. The Mexican Food Company based in the Reparation, led by Xin and Melissa Wang, requested $ 300,000 for 3% capital. After Barbara offered $ 300,000 for 10% capital with pro-Rata distribution, Kevin opposed 9%.

Barbara emphasized her expertise in the food industry industry, which made Kevin defend her position.

“I know what I’m doing well. I’m doing sales and marketing. So I got rich in the first place. I know that better than anyone else. I can surely provide the same marketing as Mr. Wonder than he really is because he is an excessive position,” firm said Barbara.

AND Shark Negotiations are concluded with Barbara by providing 6% capital plus 3% of advisory share of investment in the amount of $ 300,000. Until 2024, this job helped expand the presence of Jje Foods to 1,600 retail locations across the Western United States.

A deal on the Jic Foods has become a battlefield for Barbara and Kevin on Shark

Xin and Melissa Wang presented the jic foods on the market in 2015, starting with jam chips in the snack category. The initial phase brought a significant financial strain and the debt on the credit card reached $ 70,000 and their bank balance reduced to $ 300. Their strategic change in 2019 moved the company towards freshly cut jam products, introducing wrap, sticks and specialized salsa.

AND Shark Company metrics showed significant growth after this product transition. The sale increased from $ 1 million in 2019 to $ 4 million in 2020. Momentum continued with $ 5 million for sales for 2021, which led to a $ 6 million screen for 2022. Their market strategy included prices with production costs at $ 1.85 per unit, wholesale prices at $ 2.99, and retail prices of $ 4.99.

Barbara Corcoran opened negotiations with $ 300,000 for 10% capital, adding a request for a pro-war distribution. Kevin O’Leary replied Offering identical investment funds with 9% capital, positioning under Barbar’s capital demand. Xin Wang suggested a decrease in Barbar’s stake to 5%, but it stood firmly on its original capital request.

The debate emphasized the market value of the jic food, and Kevin mentioned many times about profit. Gosta shark Gwyneth Paltrow recognized the potential of the product, referring to the recipes of jic in its published cookbook. Mark Cuban and Lori Greiner appreciated the product and decided not to represent bids.

Xin presented both sharks with a revised 7% capital offer. Kevin and Barbara rejected this proposal at the same time. Negotiations moved when Xin emphasized their need for marketing and sales professionalism. Kevin stated his ability to expand retail relationships. Barbara has aligned with this claim by highlighting her food industry network and marketing experience from the previous Shark investments.

Xin brought an expertise on packaging and marking, while Melissa contributed to the experience of quality control from the pharmaceutical sector. Their participation in Accelfoods, a program to launch accelerated companies for healthy food companies, has shown their dedication to market growth.

Melissa has entered into negotiations with a structured counter offer Barbara. Shark The guest investor suggested 6% capital in combination with 2% advisory share. Barbara adapted these conditions by seeking 3% of advisory shares, retaining the share capital at 6%. This change has created a total ownership position of 9% for Barbara investment in the amount of $ 300,000.

The agreement included Barbar’s marketing support and industrial connections. The contract was appreciated by the Jjic Foods much less than their initial request for estimating worth $ 10 million. Both Kevin and Barbara He remained hired to the final decision, and the record of Barbara the food industry proved to be decisive.

Deal’s aftermath

According to the Shark Tank blog, the status of closing the agreement remained unbearable as many as six months after the episode broadcast. Nevertheless, Jica Foods has expanded its retail mark on 1,600 locations. The company has provided the space of shelves in Whole Foods, Spouts, Vons, Pavillions and Albertsons across the Western United States.

The same media reported that financial metrics showed continuous growth by 2024. The company’s net value reached $ 5.1 million by January 2024. Their product line has spread outside the basic options for the involvement of different flavors and formats. The spatial presence increased with 700 stores during the recording at over 1,600 locations in early 2024, which marked a significant expansion of the market.

Shark Season 16 broadcasts on the ABC network.