Did Quevos get a deal on Shark Tank Season 12? Yes, Quevos successfully secured a deal on Shark Tank Season 12. They received an investment of $200,000 for 10% equity in the company, along with an additional $200,000 line of credit. The investment came from guest Shark, Daniel Lubetzky.
Summary
- Quevos is a brand of high-protein snack chips made primarily from egg whites.
- They appeared on Shark Tank Season 12 seeking $200,000 for 5% equity.
- The Sharks were impressed with the product’s taste and health benefits.
- Guest Shark, Daniel Lubetzky, offered $200,000 for 10% equity plus a $200,000 line of credit.
- The founders of Quevos accepted the offer.
- The investment has helped Quevos expand its production and distribution.
Quevos Shark Tank Update | Shark Tank Season 12
Quevos, a brand of crispy, high-protein chips made from egg whites, stepped into the Shark Tank during Season 12 with a bold vision: to revolutionize the snack aisle with a healthier, guilt-free alternative.
Co-founders Nick Hamburger and Zack Schreier presented their innovative snack to the Sharks, hoping to secure an investment that would propel Quevos to new heights.
The Quevos Pitch on Shark Tank Season 12
| Entrepreneurs | Nick Hamburger and Zack Schreier |
|---|---|
| Business | Quevos |
| Ask | $200,000 for 5% equity |
| Deal | $200,000 for 10% equity + $200,000 line of credit |
| Sharks | Mark Cuban, Kevin O’Leary, Lori Greiner, Robert Herjavec, Daniel Lubetzky (Guest Shark) |
| Season | Season 12 |
| Original Air Date | March 19, 2021 |
| Website | Quevos |
| Key Points of Pitch |
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| Why Sharks Accepted |
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1. The Founders’ Story and Inspiration
Nick and Zack, childhood friends and fitness enthusiasts, shared a common frustration: the lack of satisfying, protein-rich snacks that aligned with their health goals.
Determined to create a solution, they experimented with various ingredients, eventually discovering the potential of egg whites as a base for their chips.
Their personal journey and passion for healthier snacking resonated strongly with the Sharks.
2. Product Demonstration and Taste Test
The Sharks eagerly sampled Quevos, and the positive response was immediate. The chips’ light, crispy texture, and savory flavors impressed even the most discerning palates.
The Sharks were particularly intrigued by the nutritional profile of Quevos, which boasted a significant amount of protein and minimal carbohydrates.
3. The Sharks’ Initial Reactions
The Sharks acknowledged the growing demand for healthier snack options and recognized Quevos’ potential to capture a significant share of the market.
However, concerns were raised about the company’s valuation and the competitive landscape. Some Sharks also questioned the scalability of the egg white-based production process.
Despite these reservations, the overall reception to Quevos was positive, setting the stage for a compelling negotiation.
The Shark Tank Deal
1. Daniel Lubetzky’s Investment Offer
The negotiation took an interesting turn when guest Shark, Daniel Lubetzky, the founder of KIND Snacks, stepped in.
Recognizing Quevos’ potential and aligning with their mission to provide healthier snack options, Lubetzky presented a compelling offer: $200,000 for 10% equity, along with an additional $200,000 line of credit to fuel the company’s growth.
2. Negotiation and Counteroffers
The founders, while appreciative of Lubetzky’s offer, expressed their desire to retain more equity in their company. They countered with a proposal of $200,000 for 7.5% equity.
Lubetzky, understanding the founders’ passion and drive, remained firm on his initial 10% equity offer, emphasizing the value of his expertise and the line of credit in helping Quevos scale rapidly.
3. Final Deal Acceptance
After careful consideration, the Quevos founders decided to accept Lubetzky’s offer. They recognized the immense benefits of partnering with a seasoned entrepreneur who shared their vision and had a proven track record of building successful brands.
The deal was sealed, marking a pivotal moment in Quevos’ journey toward becoming a household name in the snack industry.
Quevos’ Growth Post-Shark Tank
1. Expansion of Production and Distribution
The Shark Tank investment served as a catalyst for Quevos’ growth. The influx of capital enabled the company to significantly expand its production capabilities, allowing them to meet the surging demand for their chips.
They also expanded their distribution network, securing partnerships with major retailers across the United States, making Quevos readily available to a wider audience.
2. New Product Launches and Flavor Innovations
Building on their initial success, Quevos continued to innovate and expand their product line. They introduced new flavors and varieties, catering to diverse taste preferences and dietary needs.
This commitment to innovation kept their offerings fresh and exciting, attracting new customers and keeping existing ones engaged.
3. Increased Brand Awareness and Sales
The Shark Tank appearance provided Quevos with invaluable exposure, introducing their brand to millions of viewers.
This newfound brand awareness, coupled with the product’s inherent appeal and expanded availability, led to a significant increase in sales.
Quevos quickly became a popular choice for health-conscious snackers seeking a delicious and protein-packed alternative to traditional chips.
The Impact of the Shark Tank Investment
1. How the Investment Helped Quevos Scale
The Shark Tank investment was a game-changer for Quevos. The capital infusion provided the much-needed resources to ramp up production, expand distribution, and invest in marketing efforts.
This financial boost enabled Quevos to scale their operations rapidly, transforming them from a promising startup into a thriving snack brand.
2. The Role of Daniel Lubetzky’s Mentorship
Beyond the financial investment, Daniel Lubetzky’s mentorship proved invaluable to Quevos’ founders. Lubetzky’s experience in building KIND Snacks into a global brand offered valuable insights and guidance.
His strategic advice helped Quevos navigate the complexities of the snack industry, avoid common pitfalls, and make informed decisions that fueled their growth.
3. Lessons Learned from the Shark Tank Experience
The Shark Tank experience was a crash course in entrepreneurship for the Quevos founders.
It taught them the importance of a clear and compelling pitch, the value of market validation, and the necessity of being prepared for tough questions and negotiations.
The lessons learned from the Sharks helped them refine their business strategy, sharpen their focus, and build a resilient brand.
Quevos’ Future Plans
1. Vision for the Brand’s Growth
Quevos has ambitious plans for the future. Their vision extends far beyond just being a successful snack brand.
They aim to become a leader in the healthy food movement, inspiring people to make better snacking choices and promoting a balanced lifestyle.
They envision a world where everyone has access to delicious, nutritious, and guilt-free snacks.
2. Upcoming Product Launches and Market Expansion
Quevos is constantly pushing the boundaries of innovation. They have a pipeline of exciting new products and flavor variations in development, ready to tantalize taste buds and cater to diverse dietary needs.
Additionally, they plan to expand their market presence, both domestically and internationally, making Quevos a globally recognized brand.
3. Commitment to Health and Sustainability
At the core of Quevos’ mission is a commitment to health and sustainability. They are dedicated to using high-quality, wholesome ingredients and minimizing their environmental impact.
They strive to be a responsible corporate citizen, supporting local communities and promoting sustainable practices throughout their supply chain.
FAQs
What are Quevos made of?
Quevos are primarily made from egg whites, which provide a rich source of protein. They also contain other wholesome ingredients like avocado oil, chia seeds, and various seasonings for flavor.
Where can I buy Quevos?
Quevos are available in a growing number of retail locations across the United States. You can find them in major grocery stores, convenience stores, and online retailers. Check their website for a store locator or to order directly.
Are Quevos keto-friendly?
Yes, Quevos are keto-friendly! They are low in carbohydrates and high in protein, making them a suitable snack for those following a ketogenic diet.
What flavors do Quevos come in?
Quevos offer a range of delicious flavors, including Sour Cream & Onion, Cheddar & Sour Cream, Dill Pickle, and Sweet BBQ. They also have limited-edition flavors and seasonal offerings, so keep an eye out for new additions!
The Bottom Line
Quevos is a testament to the power of innovation and the entrepreneurial spirit. From humble beginnings, they’ve grown into a beloved snack brand, thanks to their dedication to creating a healthier, protein-packed alternative to traditional chips. Their Shark Tank success story serves as an inspiration to aspiring entrepreneurs everywhere, proving that with passion, perseverance, and a great product, anything is possible.
