Popcorn is one of the most popular snacks in America. So when brother and sister team, Jeff and Jennifer Martin, discovered a healthier variety of popcorn tastes great too, they just knew they had something special. With their popcorn standing out from other brands, will the sharks make them an offer? Find out in our Pipsnacks update!
Shark Tank Pipsnacks Update
- Entrepreneurs: Jeff Martin and Jennifer Martin
- Business: Healthy popcorn
- Ask: $200,000 for 10% equity
- Result: $200,000 for 10% equity
- Sharks: Barbara Corcoran
Jennifer and Jeff brought their Pipsnacks popcorn into the tank, sharing how healthy it is compared to the other products on the market. This is because it’s Vegan, Gluten Free, Organic and Non GMO. They passed out samples and the sharks were really impressed with their gourmet snack.
You can’t find Pipcorn’s unique taste in the average popcorn snack, which could be why Oprah picked us as her Favorite Things three times in a row! Thanks to heirlooms, Pipcorn has more nutrition than commercially grown popcorn, including fiber, antioxidants, and vitamins.
The sharks wanted to learn about the financial end of the business. Jennifer and Jeff told the sharks that they had only been in about 40 stores, including Whole Foods, during the previous year and generated about $200,000 in revenue. To produce a single bag of popcorn costs about $1.80 and is sold for $4,99. They shared that Oprah had even discovered their product and added it to her famous list of favorite things.
Despite the product impressing Oprah, Kevin O’Leary struggled to see their value, so he was the first shark to drop out. Robert Herjavec told the siblings that he was interested, but only if he would receive 20% equity in exchange for his $200,000 investment. Barbara Corcoran quickly offered $200,000 for 10% equity.
After thinking about it for a few seconds, Robert quickly changed his offer to match Barbara’s. The two sibling entrepreneurs ultimately decided to accept Barbara’s offer of $200,000 for 10% equity. So what became of this company after the show? Keep reading our Pipsnacks update to find out!
It’s been mostly smooth sailing since appearing on
Are you interested in finding out more about the other companies featured on Season 6 Episode 9? Follow the links below for our other company updates from this episode.
Before you go, be sure to stop by our Season 6 Products Page for even more on companies and products!