Washington, DC-based vegan snack company Snacklins raised $250,000 in capital funding during a recent episode of investment reality series Shark Tank. The offer was made by venture capitalist Mark Cuban, who successfully negotiated a 5-percent stake plus 5 percent in advisory sales with Snacklins founder Samy Kobrosly. Snacklins—which sold $200,000 in product in 2018 and aimed to finish this year with $2 million in sales—makes low-calorie chips made from mushrooms and yuca, which are a vegan version of pork rinds. Kobrosly initially asked the Sharks for a $250,000 investment in return for a 2.5-percent stake in the business (a $10-million valuation), which shocked the Sharks. However, he told the investors he only owns 30 percent of the company, and he gave a 10-percent stake to each original employee, and angel investors and family members also hold a stake. “We’ve grown 10-fold in the past year, selling in about 850 stores nationwide. We started off in about 36 stores a year and a half ago,” Kobrosly told the Sharks. “From mom-and-pops, to national chains such as Whole Foods, Walmart, and 7-Eleven.” But Kobrosly really wanted Cuban on his team, so he accepted the new deal which included a higher stake in the company than he initially offered. “I think a strategic partner like you is what I set this up for,” Kobrosly told Cuban on the episode. “I used to own 100 percent of nothing. I am living the American dream. I am a Muslim, first generation American, who is now pitching a vegan pork rind on Shark Tank.”

Photo credit: ABC

Love the plant-based lifestyle as much as we do?
Get the BEST vegan recipes, travel, celebrity interviews, product picks, and so much more inside every issue of VegNews Magazine. Find out why VegNews is the world’s #1 plant-based magazine by subscribing today!