Vegan snacks can be expensive, hard to find, and contain ingredients that are difficult to pronounce. Samy Kobrosly found a way to combat all of this, and do it on his own terms. But the logistics of a snack deal may put the sharks off during this
Shark Tank Snacklins Update
- Entrepreneur: Samy Kobrosly
- Business: Vegan pork rinds
- Ask: $250,000 for 2.5% equity
- Result: $250,000 for 5% equity and 5% advisory shares
- Shark: Mark Cuban
Some entrepreneurs come to
As a Muslim, Kobrosly wanted to recreate pork rinds at first—a tasty, meaty junk food that he’d heard about from his friends. So he set out to engineer an option he could eat, and one that vegans and health-conscious snackers would appreciate as well.
Snacklins are made with three ingredients—yuca, mushroom, and onions. They’re 80 calories a bag, a fact that instantly attracted the sharks. Eventually, the numbers got them more interested in the brand.
Samy makes Snacklins in his own factory because he’s perfected his production method. He was already in some stores and had $200,000 in sales. This seemed to be a sound investment for the sharks.
However, Barbara Corcoran was immediately out. The risks associated with making a food product and the astronomical costs to keep the product in stores were too much for her. Lori Greiner didn’t agree with the high valuation and thought that Snacklins could be too risky.
Rohan Oza, the guest shark, didn’t think that Samy should be doing his own manufacturing. He said it’s not viable to not outsource it.
However, Mark Cuban was on board. He agreed that Samy doing his own manufacturing was the right way to go. On the other hand, he didn’t think the small equity amount Samy offered would be worth his time. After some debate, he offered the $250,000 that Samy asked for, but for 5% equity and 5% in advisory shares, which he accepted.
In our Snacklins update, we’ll look at how the company is doing with Mark Cuban’s investment.
Today, Snacklins is still popular on its direct-to-consumer website. The website is clearly professional, and it’s obvious that Snacklins has made a huge leap towards marketing. They’ve rebranded parts of their product as well, replacing flavors that could contain allergens with allergy-free ingredients.
In our Snacklins update, we were able to find that Snacklins are now sold all over the East Coast, in stores like Whole Foods, Walmart, and Stop & Shop. In other words, Samy’s estimation of the company (with a worth of $15 million) wasn’t far from the mark.
Before you go, make sure to check out the other company updates from Season 11 Episode 4.
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