Snacklins Net Worth 2022 – What Happened After Shark Tank

Samy Kobrosly took his vegan “pork rinds”, Snacklins, to the Shark Tank, hoping a Shark would take a bite.

He asked for $250,000 for 2.5% of his business. With such fierce competition in the snack food market, Kobrosly faced pitching his product in the face of internationally successful corporate giants.

Mark Cuban bit, offering $250,000 for 5% and 5% advisory shares.

After the exposure on the show, the companies estimated net worth has grown to over $15 million

Snacklins Quick Facts

Name:

Snacklins

Net Worth (2022):

$15 Million (Estimated)

Pitch:

Flavorsome vegan “pork rind” snacks with decreased calorie count.

Entrepreneur:

Samy Kobrosly

Asked for:

$250,000 for 2.5%

Deal:

$250,000 for 5% and 5% advisory shares

Shark:

Mark Cuban

What Are Snacklins?

Take vegan ingredients such as yucca, mushrooms, onions and soy-ginger or barbecue sauce, fry in sunflower oil and…you have Snacklins!

Gluten-free, low calorie, non-GMO, vegan, dairy-free and paleo-friendly – these are the promotional taglines that make Snacklins trendy but healthy. Far less sugar, salt and fat than other popular, crispy snacks make Snacklins a sensible snacking treat.

Clever branding suggests that at only 90 calories per bag, you can “eat the whole bag”.

Who is Samy Kobrosly?­

FM DJ Samy Kobrosly is an entertainer, a radio host-turned-food entrepreneur and a crowd pleaser, which means it is no surprise that Snacklins is his baby. Before starting Snacklins, he hosted radio shows, and worked in bars and restaurants.

The idea for Snacklins was born as a joke, when Kobrosly and his chef-friend thought it would be hilarious to make vegan pork cracklin. But wait…that sounds like an awesome idea! Everyone loves pork cracklin, so why not make a healthy vegan version?

Months later, the pair perfected the tasty, healthy junk food alternative.

Kobrosly began production in a single home-fryer in his basement. This production moved to a friend’s bar. Finally, with help from the food business accelerator Union Kitchen, he was able to establish his own facility where he could increase production, but maintain strict control over the process.

What Happened During The Pitch?

One way to catch a Shark is to feed it. Which is exactly what Samy Kobrosly did when he entered the Shark Tank, handing out samples, to pitch for $250 000 in exchange for 2.5% of his business.

Kobrosly explained that he needed a strategic partner to help him protect the product from knock-offs and to expand his kitchen capacity. He told the Sharks he was 11 months away from profitability, but expected to close the year with $2 million in sales.

The Sharks were less happy with the valuation than they were for the snack. However, Kobrosly revealed that he only owned 30% of the company. He explained that he only owned 30% of Snacklins, with the first employees each getting 10%. Other money was raised by angel investors and family members.

The Sharks sure liked the taste of Snacklins and the fact that it was a healthy snack. Kobrosly chugged a whole packet at the end of his pitch, challenging the Sharks to do the same!

But Lori Greiner led the Sharks in declining to make an offer, as the deal felt too risky.

The Investment

Mark Cuban was very interested in the way the company was owned and in the product. He liked that Kobrosly did not outsource his manufacturing process and ran his own factory. He compared Snacklins and Kobrosly to Alyssa’s Cookies, another of his investments.

Cuban wanted to be fair to Kobrosly, as he was not a 100% shareholder himself.

Watch the negotiations that followed, where Kobrosly said he used to own 100% of nothing, but now was living the American Dream. Cuban eventually made an offer: $250 000 for 5% straight equity and 5% in advisory shares, which meant a long-term business incentive for Kobrosly.

There was a long tense pause as Kobrosly thought the deal through and finally accepted the deal.

Conclusion

After closing the deal with Cuban, the product grew in popularity, with many retail outlets offering Snacklins as well as it being available online.

Rebranding the product, introducing new tastes and multi-serving packages has further promoted sales and the popularity of Snacklins.

Union Kitchen has placed Snacklins first in the snack category through manufacturing.

Snacklins has been endorsed by celebrity cook Rachael Ray.

You can even play Snacman on the Snacklin website!