Nick Hamburger and Zack Schreier, Quevos made a splash on Shark Tank Season 12 Episode 11. Quevos, company that produces chips made from egg whites. Let’s dive into the Quevos Shark Tank update and see how this unique snack brand has fared since their television debut.
The Quevos Pitch And Deal On Shark Tank
Nick Hamburger and Zack Schreier entered the Shark Tank, seeking a $200,000 investment for a 5% stake in their company. With an impressive $3 million in sales in 2020, despite the challenges posed by the Covid-19 pandemic, the duo had already proven their mettle by successfully pivoting to an 80% online business model.
The Sharks were intrigued, and two of them, Kevin and Daniel, made competing offers. In the end, it was Daniel’s offer of $200,000 for 10% equity, along with a $200,000 line of credit, that won the young entrepreneurs over.
Is Quevos Still In Business?
Not only is Quevos still in business, but they have also gone from strength to strength since their Shark Tank appearance. With Daniel’s additional investment of $1.35 million and his help in securing another $3.6 million from other investors, Quevos has expanded its reach to over 1500 stores nationwide. In 2021, they achieved an impressive $2 million in sales, solidifying their position as a rising star in the snack industry.
What Was Quevos Net Worth?
While the exact net worth of Quevos has not been publicly disclosed, the company’s impressive sales figures and successful acquisition suggest a substantial valuation. With over $3 million in sales and a presence in more than 1,500 retail stores, Quevos has established itself as a formidable player in the snack industry.
The investment from Shark Tank’s Daniel Lubetzky and the acquisition by Joe Oblas further validate the potential and value of the Quevos brand. As the company continues to grow and expand, its net worth is likely to increase accordingly.
Overview Of Quevos
At the heart of Quevos’ success lies its innovative product: chips made from egg whites. Available in four mouthwatering flavors – Quevos Rancheros, Sour Cream and Onion, Dill Pickle, and Honey Mustard – these chips are not only delicious but also low in net carbs, making them the perfect snack for health-conscious consumers and those following a keto diet.
What sets Quevos apart is the dedication and perseverance of its founders. Nick and Zack’s unwavering commitment to their vision, coupled with their willingness to take risks and adapt to challenges, has been the driving force behind the brand’s success. From perfecting their recipe in a college dorm to pitching their product on national television, they have demonstrated the power of passion and hard work in turning a dream into reality.
Conclusion
The Quevos Shark Tank update is a testament to the incredible journey of two young entrepreneurs who dared to challenge the status quo in the snack industry. From humble beginnings in a college dorm to the shelves of major supermarkets, Nick Hamburger and Zack Schreier have proven that with determination, innovation, and a little help from the Sharks, anything is possible.
