Cupbop Korean Barbecue Update | Shark Tank Season 13

The quick-service market is sorely lacking more Asian options, which is exactly why Jung Song and Dok Kwon decided to start Cupbop. This Korean barbecue restaurant has over 27 physical stores and uses its food trucks as a marketing tool. Their sales will blow the sharks away, but which one will get to take a bite during the Shark Tank Season 13 pitch? Keep reading our Cupbop update to find out.

If you’re short on time, here’s a quick overview of what happened to Cupbop after Shark Tank!

Jung Song and Dok Kwon appeared on Shark Tank Season 13 and left with a deal from Mark Cuban for $1 million for 5% equity. In terms of a Cupbop update, the company is still in business and has over $40 million in sales. Further, they currently have locations in seven U.S. states and more than 100 locations in Indonesia.

Shark: Result:
Mark Cuban Accepted deal of $1 million for 5% equity
Lori Greiner $1 million as a loan at an 8% interest rate, and 5% equity
Kevin O’Leary $1 million at a loan at a 10% interest rate with 3% equity as collateral
Barbara Corcoran $1 million at 30% equity
Robert Herjavec $5 million for 28%

Shark Tank Cupbop Update

Cupbop Update Shark Tank

  • Entrepreneurs: Jung Song and Dok Kwon
  • Business: Quick-service Korean barbecue in a cup
  • Ask: $1 million for 3% equity
  • Result: $1 million for 5% equity
  • Shark: Mark Cuban

Entrepreneurs Jung Song and Dok Kwon, came from Korea to find success—and their amazing company is definitely successful. Cupbop is an innovative fast-casual Korean barbecue restaurant business featuring dishes that are full of unique flavors and easy to grab and go.

At the time this episode was filmed, Cupbop was already eight years old. Unprecedented growth led to $18.7 million in system-wide sales in the previous year.

Currently, their system spans marketing food trucks and over 27 physical locations across the southwest United States and the duo has big plans for future growth.

Following an enthusiastic pitch, the sharks sample the food and absolutely love it. Kevin O’Leary even says it is the best food product he’d ever had on Shark Tank.

As a result, he is the first to make an offer: $1 million at a loan at a 10% interest rate with 3% equity as collateral.

Following quickly on the heels of Kevin’s offer, Barbara Corcoran jumps in with an offer of her own at $1 million at 30% equity.

In response to the first two sharks, Robert Herjavec offers $5 million for 28%, going above and beyond what they ask for but at a much lower valuation.

Next up, Lori Greiner also wants to take the journey and offers $1 million as a loan at an 8% interest rate, and 5% equity.

Thinking quickly, Barbara notes she could give a $1 million loan for 5%, and consequently, she and Lori decide to go in together on Lori’s offer.

Finally, Mark Cuban has a chance to chime in — he loves the product and the business. Not surprisingly, he joins the bidding war with $1 million for 7% equity and offers scaling expertise, as a healthy alternative, which Barbara and Lori dispute.

Regardless, Jung and Dok have a lot of offers on the table. They decide to counter Mark at $1 million for 4.5%, but Mark’s lowest is 5.5%.

In response, they counter again at 5% and Mark agrees. Despite having all the sharks biting for a piece of the company, Cupbop secures a deal with Mark Cuban.

So, how did the Shark Tank deal work out for the company? Let’s find out in our Cupbop update.

Since appearing on Shark Tank, Cupbop has only continued to grow. Research for our Cupbop update revealed that they’ve added nine brick-and-mortar locations to their roster since the show was filmed, with more on the way.

In addition to their stateside storefronts, trucks, and franchises in Utah, Idaho, Arizona, Colorado, Nevada, Oklahoma, and Texas, they also have over 100 locations in Indonesia.

According to Food Republic, Cupbop now has more than $40 million in sales. Additionally, they’ve teamed up with a tech firm to help manage their rapid growth and big plans for future development.

As of 2023, the company celebrated ten years in business. With Mark’s help and big goals for the future, we’re sure the next Cupbop update will reveal even more good news!

Before you go, make sure to check out our other company updates from Season 13 Episode 21:

Curious about the other products featured in Season 13? Find them all on our Season 13 products page.

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Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!