Snacklins Net Worth 2024 – Interesting Facts, Social Media, & What’s Next
Snacklins, the innovative vegan snack company, has been making waves in the food industry since its inception. Founded by Samy Kobrosly, Snacklins has grown from a simple idea to a thriving business with an impressive net worth. In this blog post, we’ll delve into the company’s journey, its appearance on Shark Tank, and the factors contributing to its success and current net worth.
Who is Snacklins?
Snacklins is a company that produces vegan, gluten-free, and non-GMO snacks made from yuca, mushrooms, and onions. These healthy alternatives to traditional pork rinds come in various flavors, such as barbecue, teriyaki, and nacho cheese. The company’s mission is to provide consumers with a guilt-free snacking experience without compromising on taste.
Who Is the Founder of Snacklins?
Samy Kobrosly, a Muslim entrepreneur, founded Snacklins in 2015. Kobrosly, a pork-free individual, wanted to create a snack that mimicked the texture and taste of pork rinds while being vegan-friendly. His background in radio hosting and his passion for food led him to develop the unique recipe for Snacklins.
| Founder | Samy Kobrosly |
|---|---|
| Product | Vegan pork rind snacks made from mushrooms, onions, and yucca |
| Inspiration | Kobrosly’s desire to create a vegan alternative to pork rinds |
| Valuation | $250,000 for 2.5% equity |
| Sales Figures | $200,000 in sales prior year, on track to hit $2 million |
| Retail Presence | Available in 36 stores, expanding to 850 nationwide |
| Manufacturing | Snacklins produced in Kobrosly’s factory |
| Shark Response | Mark Cuban offers $250,000 for 5% equity and 5% advisory shares |
| Equity Ownership | Kobrosly owns 30% of Snacklins, rest is distributed among employees and investors |
What was the outcome of Snacklins’ Shark Tank pitch?
Kobrosly appeared on Season 11 of Shark Tank, seeking a $250,000 investment for a 2.5% stake in his company. He impressed the Sharks with his product’s taste and health benefits, as well as the company’s growth potential. Snacklins had made $200,000 in sales the previous year and was on track to hit $2 million in the current year, according to Kobrosly.
Snacklins Shark Tank Update:
After a series of negotiations, Mark Cuban offered Kobrosly a deal worth $250,000 for a 5% stake in the company, plus an additional 5% in advisory shares. Kobrosly accepted the offer, securing a partnership with the billionaire investor. The other Sharks, including Barbara Corcoran, Rohan Oza, Kevin O’Leary, and Lori Greiner, chose not to invest due to concerns about the food industry’s risks and the company’s valuation.
| Shark | Result |
|---|---|
| Mark Cuban | Accepted deal of $250,000 for 5% equity and 5% advisory shares |
| Rohan Oza | No Offer |
| Barbara Corcoran | No Offer |
| Kevin O’Leary | No Offer |
| Lori Greiner | No Offer |
What Happened to Snacklins After Shark Tank?
Following their appearance on Shark Tank, Snacklins experienced significant growth. The company’s online sales skyrocketed from $5,000 to $100,000 per week within the first week after the episode aired. Over the next two years, Snacklins surpassed $5.3 million in total sales. The increased demand allowed Kobrosly to grow his team from 10 to 30 employees and increase the product’s retail presence to over 2,500 stores nationwide.
Snacklins Net Worth:
Estimates place Snacklins’ annual revenue at $13 million as of 2023, and its net worth at approximately $20 million. Strategic partnerships, the company’s unique product offering, and the exposure from its Shark Tank appearance all contribute to its success.
Snacklins Growth and Operations:
Snacklins has experienced consistent year-over-year growth since its founding. The company operates its manufacturing facility, which allows for quality control and cost management. In 2023, Snacklins plans to further expand its retail presence, aiming to double its store count from the previous year.
Snacklins Marketing and Sales:
Snacklins has implemented a multi-channel marketing approach, leveraging both traditional retail and e-commerce platforms. The company’s products are available in major retail chains such as Whole Foods, Walmart, and 7-Eleven, as well as on Amazon and the official Snacklins website. Positive customer reviews and word-of-mouth marketing have contributed to the brand’s growth.
Snacklins Social Media Presence:
While Snacklins has not been active on Facebook and Twitter since 2022, the company maintains an active presence on Instagram. Social media has played a crucial role in promoting the brand, engaging with customers, and showcasing new product offerings.
Snacklins Interesting Facts:
- Snacklins was born from a joke Kobrosly made about creating a pork-free pork rind snack.
- The company’s Chesapeake Bay flavor pays homage to its Maryland roots.
- In March 2023, Snacklins announced a WeFunder campaign, allowing regular consumers to invest in the company.
- Mark Cuban has been a supportive investor, actively promoting Snacklins on his social media channels.
What’s next for Snacklins?
Snacklins continues to innovate and expand its product line, with plans to introduce new flavors and potentially venture into other snack categories. The company’s ongoing WeFunder campaign, which has already raised over $19,000 of its $100,000 goal, will play a crucial role in funding future growth initiatives.
Final Words:
Snacklins’ success story is a testament to the power of innovation, perseverance, and the pursuit of the American dream. From a lighthearted joke to a multi-million dollar company, Samy Kobrosly has created a brand that resonates with health-conscious consumers and snack enthusiasts alike. With Mark Cuban’s support and a growing base of loyal customers, Snacklins is well-positioned for continued success in the years to come.
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