Introduction
Snacklins, a vegan snacks brand founded in December 2015 by Samy Kobrosly, embarked on a remarkable journey after appearing on Shark Tank in Season 11, Episode 4. Offering a unique twist on traditional pork rinds, they provides meat-free, plant-based alternatives that gained attention for their taste and health-conscious attributes. Despite a bold ask of $250,000 for just 2.5% equity at a $10 million valuation, Kobrosly’s passion and product quality captured the interest of the Sharks. This article delves into what transpired with them after their appearance on the show, their financial growth, distribution expansion, and their current status as of April 2023.
The Founder
Samy Kobrosly, the brains behind their, drew inspiration from his background and friends’ jokes about pork rinds. Coming from a Muslim family, Kobrosly set out to create a meat-free alternative that resembled the popular snack. His journey involved experimenting with various recipes until he successfully crafted a vegan snack using yuca, mushrooms, and onions. Prior to launching Snacklins, Kobrosly had worked in various roles after completing his studies at American University, bringing his entrepreneurial vision to life in the snacks industry.
What is Snacklins?
Snacklins, headquartered in Washington, D.C., is a brand known for producing natural and healthy snacks. Their signature snacks are crafted from yuca, mushrooms, and onions, creating a vegan, gluten-free, soy-free, dairy-free, and nut-free alternative to traditional pork rinds. Each snack bag contains a modest 80-100 calories, making them an attractive option for health-conscious consumers. they offers a variety of flavors, including Barbecue, Nacho, Cinnamon Churro, Teriyaki, and more, all while maintaining a satisfying crunch.
These unique, guilt-free snacks can be found at various retail locations across the United States, including major chains such as Whole Foods, Morton Williams, Fairway Market, Walmart, and individual retail stores.
Shark Tank Pitch
Samy Kobrosly made a memorable entrance into the Shark Tank, seeking $250,000 for a mere 2.5% equity stake, valuing his company at $10 million. He introduced the Sharks to his innovative vegan snacks, which impressed them with their taste and nutritional value. Kobrosly ultimately secured a deal with Mark Cuban, who invested $250,000 for a 5% equity stake and an additional 5% in advisory shares convertible over three years. The bold valuation initially led other Sharks to bow out, but Cuban saw the potential in Snacklins and joined forces with Kobrosly.
Post-Shark Tank Success
After their appearance on Shark Tank, they experienced a notable uptick in sales and brand recognition. Consumers were drawn to the product’s low-calorie count, unique taste, and commitment to being a healthier alternative to traditional snacks. As a result, they expanded its distribution to various retail giants, including Stop & Shop, where its products became available in over 300 stores in the United States.
The company’s annual sales projections also skyrocketed, with Kobrosly aiming for $10 million by 2021. The brand’s continued growth can be attributed to its presence in prominent retail stores such as Whole Foods, 7-Eleven, Erewhon, and more, solidifying Snacklins as a recognized name in the snacking industry.
As of 2022,they, along with Pan’s Mushroom Jerky, secured placement in HEB stores in Texas, further expanding their reach and appeal to consumers seeking healthier snack options. By 2022, the company reported sales of nearly $4 million, showcasing its impressive trajectory.
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Current Status
As of April 2023, theyremains a thriving and rapidly growing brand in the snack industry. The company launched a funding campaign on the Wefunder platform, aiming to raise $100,000 to support its continued expansion and product development. With a total revenue of $15 million since its commercial launch, Snacklins has firmly established itself as a player in the market.
Their’ availability has expanded to over 2,500 retail locations, including notable chains such as Stop and Shop, HEB, Whole Foods, Sprouts, Wegman’s, and many more. This widespread distribution ensures that consumers across the United States have access to their healthier snack alternatives.
Samy Kobrosly’s dedication to his vision and his ability to secure a partnership with Mark Cuban have been instrumental in their success. The company’s journey from a unique concept to a multi-million-dollar business serves as a testament to the demand for innovative, health-conscious snacks in the market.
Snacklins Shark Tank Update
In Season 13, Episode 6 of Shark Tank, an update was provided on Snacklins’ performance since securing a deal with Mark Cuban. The brand’s products have now become available at over 2,500 retail stores, including major chains like Whole Foods, Sprouts, Wegman’s, and more. This update reaffirms Snacklins’ rapid growth and continued success in capturing a significant share of the snack market. Mark Cuban’s investment has undoubtedly played a pivotal role in the brand’s expansion and ability to reach a wider audience of health-conscious consumers.
Net Worth of Snacklins
As of the present day, Snacklins’ estimated net worth stands at an impressive $20 million. The company’s growth trajectory, successful partnerships, and widespread availability in major retail stores have contributed to its significant valuation. Additionally, Snacklins received a substantial investment of $2 million from Union Kitchen, with $1 million of that investment recorded in early 2023, further solidifying its financial strength and potential for continued expansion.
Is Snacklins Still in Business?
Yes, Snacklins is not only still in business but also thriving. It has emerged as one of the fastest-growing brands in the snack category in the Mid-Atlantic region and has garnered attention from media outlets such as Forbes and Inc Magazine. With a headquarters located in Washington, D.C., and a team of 11-50 employees, Snacklins continues to provide health-conscious consumers with its unique and flavorful vegan snacks. Its extensive distribution network, continued revenue growth, and positive reception in the market demonstrate its sustained presence and success.
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Conclusion
Snacklins’ journey from its Shark Tank appearance to its current status as a $20 million brand with widespread availability in major retail chains underscores the demand for innovative, health-conscious snack options. Samy Kobrosly’s vision and Mark Cuban’s investment have propelled Snacklins into a leading position in the snacking industry, setting a strong precedent for similar businesses.
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