After starting his own Korean and Mexican fusion-inspired BBQ business, Jae Kim wanted to try his luck on
Shark Tank Chi’lantro Update
- Entrepreneur: Jae Kim
- Business: Korean and Mexican fusion inspired BBQ
- Ask: $600,000 for 15% equity
- Result: $600,000 for 20% equity
- Shark: Barbara Corcoran
Jae Kim opened his pitch by detailing where it all started. After his first business, a failed coffee shop, he started Chi’lantro BBQ out of a food truck in 2010. By the time that Jae had made his appearance on
Hearing Jae’s story impressed the sharks and they referred to it as living the American dream. However, not all of them were interested in investing. Guest shark Chris Sacca was a fan of the food but didn’t feel like the investment was right for him. Kevin O’Leary was in the same boat, but he felt that new restaurants were prone to failure and went out as well. Mark Cuban also went out but only because, according to him, he wasn’t a “restaurant guy.” The same goes for Lori Greiner, who felt that the business model just didn’t make it a good investment.
Only Barbara Corcoran extended an offer. She initially offered $600,000 for 30% equity, to which Jae countered with 20%. She accepted his counter and a partnership was born. Fast forward to a couple of years later and we’re ready to see how the Korean BBQ restaurant is doing in our Chi’lantro update.
So, what has Kim been up to since striking a deal with
Seeing as the social media pages of the business are still well-maintained, we have reason to believe that Barbara’s investment has been quite successful!
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!