If you’re a fan of Shark Tank, you were probably glued to your TV last night watching the Season 9 premiere. One of the most exciting deals of the night was when Quevos LLC secured a $ 2 million investment from Mark Cuban and Barbara Corcoran.
On the twelfth season of Shark Tank, a chip-making duo made their pitch: Nick and Zach presented Quevos – an egg white-based snack with plenty of protein and low carbs making it not only delicious but good for you too. In return for $ 200,000, the Sharks were offered 5% ownership in this innovative company. It’s no wonder that these entrepreneurs received such a positive response!
The reception to Quevos has been overwhelmingly positive since its Shark Tank debut. The chips are now available on Amazon and in stores across the country. Fans love their high protein content, low-calorie count, and delicious flavor. Nick and Zach credit much of their success to support from both new fans as well as loyal customers who have followed them from Day One.
With Cuban and Corcoran behind them, we can’t wait to see what comes next for this amazing company!
If you’re not familiar with Quevos, they are a company that makes high-protein quesadillas using egg whites as the main ingredient. We wanted to find out what happened to Quevos after the show, so we did some digging.
What Is Quevos?
Quevos is a food and beverage services startup based in Chicago, Illinois. This company makes high protein, low carb chips through Egg Whites, this delicious snack is very tasty to eat [1].
Apart from this, they taste salty and crunchy. People are fond of fitness and they want healthy food in daily life, these healthy chips play an important role in fulfilling their needs.
These chips come in many different flavors like Mesquite Bbq, Quevos Rancheros, Cheddar, Honey Mustard, Dill Pickle, Sour Cream & Onion.
Their products are available in most of the retail stores in Illinois and it is more than 1,000+ stores. Nick says that this chip is more crunchy and healthier than other chips like potato chips etc.
Who Is The Founder Of Quevos?
Nick Hamburger and Zack Schreier are the founders of Quevos. Zack is a diabetic and he had to keep his carbohydrates in check every time he had a bite of some snack, even as basic as chips, so that he could take an insulin shot whenever needed [2].
One day when he was cooking eggs, he decided to make chips out of the crunchy leftover part that is often thrown out. He met Nick and they spent two years coming up with Quevos. Due to their investment in this start-up, they dropped out of college. They ran the first production run and it ran out of stock instantly. In 2019, they started a Kickstarter campaign that raised $ 70,000.
Quevos Before Shark Tank
An alumnus of Williams College, Zack Scheier was pursuing his Bachelor of Arts degree in Philosophy and Economics when he got the idea to establish Quevos. The co-founder mentioned that living with Type 1 diabetes since childhood made it next to impossible for him to consume fried snacks, especially chips, without going through a lot of medication.
However, being a connoisseur of salty snacks, he hit upon the idea behind Quevos while eating the crispy sides of an omelet.
Excited about inventing a new form of snack, Zack involved his friend, Nick Hamburger, and sister Carly before trying to perfect the recipe. The trio worked tirelessly for a couple of years before managing to hit the nail on the head when it came to making a tasty yet healthy snack. Made entirely from egg whites, the chips also contain milk, coconuts, pea protein, avocado oil, and chia seeds.
Moreover, their focus on not just being low on carbs but also have a balance of fiber and natural ingredients got Quevos the popularity it deserves.
Naturally, the company is quite secretive about its manufacturing process and has only mentioned that it includes some sort of dehydration.
However, with each pack containing 3 grams of fiber, 4 grams of net carbs, and 8 grams of protein, Quevos managed to pack in nutrients very few snacks can boast of.
Quevos On Shark Tank: The Pitch
Zack and Nick came on the show in season 12, episode 11. Quevos‘ founder came on the show seeking an investment of $ 200,000 for 5% equity in exchange. After that, Nick and Zack gave a demonstration of their product and the motive behind it. They handed out samples to the sharks.
Nick and Zack shared that they are about to touch $ 3 million in sales by the 2020 end, despite Covid-19 they are doing good in sales which reflects two things: either they are very smart entrepreneurs or they have very good and loyal products or brands.
During the pandemic period, they shifted 80% of their business online and to other media. They needed investment to start their production and enjoy prosperity. Robert Herjavec shared that he liked the product but wasn’t impressed much with the taste, so he went out. Kevin O’Leary appreciated their innovation and had the idea of selling on D2C.
Kevin gave an offer of $ 200,000 for 10 cents per bag until the investment amount is recovered. Daniel Lubetzky also gave an offer of $ 200,000 for a 10% equity [3].
Lori Greiner said Daniel would be great for Quevos and went out. Mark Cuban said he didn’t want to go with a single product and so he went out. Nick and Zack gave a counteroffer to Daniel of $ 250k for 10 % equity in exchange.
Daniel changed his offer to $ 200,000 for 10% equity plus $ 200,000 on a line of credit. Quevos again countered it with $ 300,000 for a 10% equity in exchange. Daniel Lubetzky modified his offer for the last time to $ 300k for 10% equity along with 2% advisory shares. Nick and Zack take a moment for discussion and grab Daniel’s deal of $ 200k for 10% +$ 200 on the line of credit offer.
Finally, counters came to settle down with a signed check.
After the show, the deal made between Daniel and Quevos was finally closed and was listed on Daniel’s business list too. The deal was closed before the show aired. Daniel seemed to be very passionate about Quevos and was in a rush to make it an international brand by using its potential. Daniel’s investment was used for rebranding and relabeling the product, initially.
Quevos Now
In the two weeks following filming, Quevos generated $ 500,000 in sales. Lubetzsky added $ 1.35 million and outside investors chipped in an additional $ 3.6 million.
As of 2021, Quevos had over $ 2 million in sales. The sales since appearing on Shark Tank are $ 3.2 million.
Quevos can be found in 1500 stores nationwide, with products also available in Canada. Quevos can be purchased at Whole Foods, Wegman’s, The Vitamin Shoppe, and GNC. The products can also be purchased online at Quevo’s website or through Amazon.
Quevos debuted its chips at Whole Foods and sales at the retailer have tripled since Quevos made its TV debut. Quevos’ website shows that the chips are now available in six flavors, with honey mustard being the newest addition. The other flavors include mesquite bbq, quevos rancheros, cheddar, dill pickle, and sour cream & onion.
Customers seem to love the chips, with the website reporting a rating of 4.8/5 stars. The site has over 600 reviews, with 98% of reviewers saying they would recommend the product.
The Net Worth Of Quevos
Quevos is still in business as of 2022.
Daniel is a constant backpacker for Nick and Zack. Quevos made various additions during the years grabbing stores from 400 to 1000 and then, 1000 to 1500 offline stores.
In 2019, they had sales of $ 260,000 and by 2020, they had reached $ 1.1 million.
FAQ:
- Are Quevos chips healthy?
Quevos chips are healthy in moderation, as they are made from mostly whole grains and contain a number of nutrients that can promote good health. However, because they are also high in calories and contain added sugars and salt, it is important to keep your portion sizes moderate when eating Quevos chips.
Overall, if you enjoy eating them occasionally and pair them with other nutritious foods, then Quevos chips can be a part of a balanced diet.
- Who invested in Quevos?
Quevos was initially funded by a group of angel investors, who were later joined by several venture capital firms. After appearing on the TV show Shark Tank, the company received additional investment from several of the sharks and became one of the most heavily-funded food startups in recent years. Today, Quevos continues to grow and is poised for even greater success in the future.
Despite its initial success, Quevos still faces many challenges as it grows and expands into new markets. Some key challenges include developing a strategy for reaching new customers effectively, dealing with competitors that are also entering this rapidly-growing space, and ensuring that its products remain healthy and affordable as it scales up production.
- What is the healthiest chip in the world?
This is a question that many people want to know, and Quevos CEO and Co-Founder Jordan Schmidt have the answer.
Quevos is a company that specializes in making health-conscious snacks for adults like chips made from lentils, chickpeas, black beans, and other legume seeds. The company also makes healthy nuts snacks like sunflower seed puffs in various flavors along with cheese-flavored popcorn. They are revolutionizing how we eat unhealthy food by changing the way they are made so that it makes them healthier when eating them [5].
Jordan got his start in business at the young age of 19 while he was still attending college. He was always looking for ways to do things better or differently than everyone else, and this mindset led him to start his own business.
- Who invested in Kerala banana chips in Shark Tank?
Quevos was recently featured on Shark Tank, where they were able to land an investment deal with business mogul Lori Greiner. Lori has helped many different businesses grow and succeed over the years, and she is known for her ability to spot potential in new companies. She saw great potential in Quevos due to its unique product offerings and healthy ingredients, so she decided to invest in the company.
Since appearing on Shark Tank, Quevos has continued to grow and expand. They have been featured in major magazines like People magazine and Bustle, as well as numerous health blogs. Their products can be found at major grocery stores across the country, including Whole Foods Market, Amazon Fresh, Kroger, Walmart, Wegmans, and more. With a growing customer base of fans and loyal customers, Quevos is set to become one of the biggest names in healthy snacks in no time at all.
- What are the ingredients in Quevos chips?
Quevos chips are made with a blend of gluten-free flour, including chickpea flour, cassava flour, and tapioca starch. They also contain a variety of spices and seasonings to give them their unique flavors.
- Which country eats the most potato chips?
One of the most popular snack foods in America is potato chips. They are so common and such a big part of American culture that it’s hard to imagine that potato chips were once considered a delicacy.
George was upset at this cheap remark and decided to get revenge by slicing the potatoes as thin as possible, frying them until they burned, and then finally salting them heavily.
- Why are chips always half full?
One of the most enduring features of potato chips is their distinctive packaging. The classic package for a bag of potato chips is always half full, and this wasn’t an accident.
Potato chip manufacturers instinctively knew that the best way to display the product was to leave some air at the top of each bag. This allowed customers to see all of the beautiful, golden brown chips in the bottom half of the bag before buying any [6].
This strategy proved effective, and potato chip manufacturers continue to cut their bags in half today as a nod toward their roots in American history.
- What chips have no sugar?
If you’re looking for a salty, savory snack that doesn’t have any sugar and is also made from all-natural ingredients, look no further than Quevos chips. Unlike most potato chips, which rely heavily on sugar and other additives to enhance their flavor, Quevos are made with only simple, wholesome ingredients like egg whites, oil, and salt.
Plus, Quevos are non-GMO certified and gluten-free, so they make the perfect snack for anyone who wants to avoid refined sugars or has dietary restrictions. Try a bag of Quevos today and see why these unique chips are one of the fastest-growing snacks in America!
- What has Barbara Corcoran invested in?
Barbara Corcoran is one of the most successful investors on Shark Tank, and she has invested in many exciting companies over the years.
Some of her most notable investments include [7]:
- Alarmy, a company that makes smart alarm clocks;
- CUJO is a revolutionary new device that protects your home network from cyber threats;
- KiteDesk, an innovative software platform designed to help salespeople become more productive;
Useful Video: Sharks in Disguise | Quevos Chips on Shark Tank
References:
- https://www.mashed.com/986777/what-happened-to-quevos-after-shark-tank
- https://sharktanktalks.com/quevos-shark-tank-update
- https://sharktankrecap.com/quevos-chips-update-shark-tank-season-12
- https://thecinemaholic.com/quevos-shark-tank-update-where-is-quevos-now
- https://www.sharktankblog.com/business/quevos
- https://bizzbucket.co/quevos-shark-tank-update
- https://heavy.com/entertainment/quevos-shark-tank