Entrepreneurs Nick Hamburger and Zack Schreier have created waves in the food industry with their unique product, Quevos. What sets Quevos apart? It’s a snack chip made from egg whites, offering a high-protein, low-carb alternative to traditional crisps.
But Quevos didn’t just pop into existence. It all started with a pitch on the popular TV show “Shark Tank,” where the founders sought investment to take their business to new heights.
The Quevos Shark Tank Pitch and Deal
Nick and Zack walked into the “Shark Tank” in Season 12, hoping to secure a deal that would fuel their dreams. They pitched their innovative product, asking for $200,000 in exchange for a 5% stake in Quevos. After a tough negotiation, they struck a deal with Daniel Lubetzky, the founder of Kind LLC. Lubetzky agreed to invest $200,000, but for a 10% equity stake. He also offered a $200,000 line of credit to support the company’s growth.
The deal was a significant milestone for Quevos. With the investment, they had the financial backing to scale their operations, improve their products, and reach out to a broader market. And with Lubetzky on board, they gained a mentor with a wealth of experience in the food industry.
Post-Shark Tank Growth
The “Shark Tank” deal was just the beginning of an exciting journey for Quevos. In the two weeks following their TV appearance, they generated an impressive $500,000 in sales. Within eight months, their lifetime sales soared to reach $3.2 million.
But the founders didn’t stop there. They expanded their manufacturing facility from 10,000 square feet to a whopping 32,000 square feet. They also introduced more efficient equipment to increase production. Today, Quevos products are available in over 1,500 stores, including well-known chains like Whole Foods, Wegmans, and The Vitamin Shoppe.
Quevos also underwent a rebranding process and reformulated their product based on customer feedback. They improved the texture and crunch of the chips and introduced new flavors, including honey mustard and an upcoming original flavor.
Is Quevos Still in Business?
Yes, Quevos is very much still in business and continues to thrive. The company was acquired by Joe Oblas, the former CEO of Stryve Foods, in January 2023. Oblas had come across Quevos at the Sweet & Snacks Expo and was immediately impressed by their product.
Despite the change in ownership, Quevos remains a successful brand. It continues to be known for its high-protein, low-carb egg white chips. The company has expanded its retail presence and is continuously innovating with new flavors and improved products. Quevos’ story is a testament to the power of a good idea, a well-executed pitch, and the willingness to listen to customer feedback and adapt accordingly.
The Current Updates
Let’s take a look at some of the latest updates about Quevos after their appearance on the “Shark Tank”. The business has seen significant growth, and here’s how:
Post the “Shark Tank” deal, Quevos saw a dramatic increase in sales. In just two weeks after the show, they recorded $500,000 in sales. And, in just eight months, their lifetime sales skyrocketed to $3.2 million.
Not just that, they expanded their manufacturing facility massively from 10,000 square feet to 32,000 square feet. They also improved their production process by introducing more efficient equipment. Today, Quevos products can be found in over 1,500 stores, including popular chains like Whole Foods, Wegmans, and The Vitamin Shoppe.
But the story doesn’t end there. Daniel Lubetzky, who initially invested in Quevos, pumped in an additional $1.35 million into the company. Other outside investors also contributed a hefty sum of $3.6 million.
Quevos also responded to customer feedback by rebranding and introducing new packaging. They reformulated their product to improve the texture and crunch of the chips. Plus, they added new flavors to their lineup, including honey mustard and an upcoming original flavor.
Quevos’s Net Worth
While the exact net worth of Quevos is not publicly disclosed, one can estimate it based on the growth trajectory and sales figures. With a lifetime sales figure of $3.2 million within eight months post “Shark Tank” and the subsequent financial backing from prominent investors, it’s safe to say that Quevos is worth several million dollars.
The acquisition of Quevos by Joe Oblas, the former CEO of Stryve Foods, in January 2023, further strengthens the financial standing of the company.
Impact of Quevos Appearance on Shark Tank
The appearance of Quevos on “Shark Tank” had a significant impact on the company. The exposure led to a dramatic increase in sales, and it helped them secure a deal with a seasoned investor like Daniel Lubetzky. The backing from Lubetzky not only provided them with the necessary funds but also brought in industry experience and mentorship.
Quevos leveraged the “Shark Tank” platform to introduce their unique product to a broad audience. Since the show, they have managed to expand their retail presence massively, with their products now being available in over 1,500 stores. They have also been successful in improving their products based on customer feedback, leading to better customer satisfaction and loyalty.
The “Shark Tank” appearance also attracted other investors, leading to an additional investment of $1.35 million from Lubetzky and $3.6 million from other investors. These funds have undoubtedly fueled Quevos’s growth and expansion efforts.
Quevos Business Overview
Quevos is a growing snack company, known for its innovative approach to healthy snacking. Founded by young entrepreneurs Nick Hamburger and Zack Schreier, the company has made a name for itself with its unique product – egg white chips.
The chips are a high-protein, low-carb alternative to traditional crisps, making them a hit among health-conscious consumers. After a successful pitch on “Shark Tank”, Quevos has experienced significant growth, both in terms of sales and business expansion.
Following their appearance on the show, Quevos saw a dramatic increase in sales. In just two weeks, they generated $500,000, and within eight months, their lifetime sales soared to $3.2 million. This rapid growth is a testament to the quality of their product and the effectiveness of their business strategy.
But it’s not just about sales figures. The team at Quevos has been diligently working behind the scenes to improve their operation. They expanded their manufacturing facility from 10,000 square feet to 32,000 square feet and introduced more efficient equipment to boost production. This has enabled them to meet the increasing demand for their products and paved the way for their presence in over 1,500 stores, including popular chains like Whole Foods, Wegmans, and The Vitamin Shoppe.
In addition to these achievements, Quevos has been successful in securing additional investments. Daniel Lubetzky, their initial investor from “Shark Tank”, invested an extra $1.35 million, while outside investors contributed another $3.6 million. These funds have played a crucial role in facilitating Quevos’s growth and expansion efforts.
Quevos has also been proactive in responding to customer feedback. They carried out a rebranding process, introduced new packaging, and reformulated their product to enhance the texture and crunch of the chips. They also added new flavors to their lineup, showing their commitment to continuous innovation and customer satisfaction.
Conclusion
Quevos’s journey from a “Shark Tank” pitch to a thriving business is a shining example of entrepreneurial success. The founders’ vision, combined with their determination and smart business strategies, has resulted in a product that not only fills a market gap but also resonates with consumers.
Their commitment to continuous innovation, customer feedback, and strategic expansion has allowed Quevos to grow at a rapid pace. With a robust business model, an innovative product, and a strong growth trajectory, Quevos is clearly a brand to watch in the snack food industry.
Despite a change in ownership, with the company being acquired by Joe Oblas, the former CEO of Stryve Foods, in January 2023, Quevos continues to prosper. The brand remains popular, its product line continues to expand, and its presence in retail stores is growing. This doesn’t just speak to the strength of the product, but also the sound business strategy and the relentless efforts of the team behind Quevos.
As Quevos continues its journey, one thing is clear: this snack food start-up is just getting started. With a successful “Shark Tank” deal under their belt, significant sales figures, and continuous innovation, Quevos is poised for even greater success in the future.
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