Mark Cuban from Shark Tank Invested $250K in a Vegan Pork Rind Company
Grace Mahas — October 24, 2019 — Business
Mark Cuban, a venture capitalist from popular television show Shark Tank, recently invested $250,000 USD in Snacklins -- a DC-based vegan pork rind company. Cuban successfully negotiated a 5-percent stake plus 5 percent in advisory sales with Snacklins.
Snakclins aims to bring in over 4$ million in sales this year from the sale of its low-calorie chips that are made using yuca (egan prok rinds) and mushrooms. "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.”
We can expect to see more investments in vegan companies as the demand for plant-based foods grows.
Snakclins aims to bring in over 4$ million in sales this year from the sale of its low-calorie chips that are made using yuca (egan prok rinds) and mushrooms. "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.”
We can expect to see more investments in vegan companies as the demand for plant-based foods grows.
Trend Themes
1. Plant-based Snacks - Opportunity to invest in innovative startups that create plant-based snacks and chips with unique ingredients, like Snacklins' yuca and mushroom-based vegan pork rinds.
2. Vegan Diet - Veganism as a rising trend creates opportunities for companies to cater to the growing demand for plant-based food products like Snacklins.
3. Alternative Protein - Investing in alternative protein startups, like Snacklins, that offer low-calorie and sustainable snacks made with innovative ingredients such as yuca and mushroom.
Industry Implications
1. Plant-based Food - Companies in the plant-based food industry have the potential to disrupt traditional snack food market by offering new alternatives to classic snacks such as pork rinds.
2. Alternative Protein - Alternative protein industry can offer innovative snacking options that cater to consumers looking for low-carb, high protein, and low calorie diets.
3. Food Investment - With the growing trend towards veganism, there is a growing market for innovative and disruptive food startups that seek investors willing to help them grow and scale.
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