Fila Manila Shark Tank Update (Season 15)

Fila Manila is a Filipino American business founded by a Jake Deleon Filipino family in 2020. Filipino American cuisine is one of the most popular foods in the United States. Deleon was born in the Philippines and grew up in New Jersey but he never forgot Filipino Delicious flavors.

He started Fila Manila to promote his Filipino family and culture. According to a Stanford University report, 1% of people in the United States are Filipino Americans. To get his business recognized in the food industry, he appeared on Shark Tank Season 15 Episode 16 and asked the sharks for $250k for 5% equity at a $5 Million Valuation.

What Is Fila Manila?

Fila Manila food business that sells Filipino sausages and spreads. All products are gluten-free, dairy-free, & vegan and no artificial colors are used. All the products are Adobo Sauce, Coconut Spread, Banana Ketchup, Peanut Sauce, and many more.

You can find these products at selected Whole Foods, Meijer, Fresh Thyme Market, Stop & Shop, and Target retail stores. The price of all products ranges from approximately $9.50 – $15.

Company NameFila Manila
FounderJake Deleon
Founded2020
ProductFilipino sausages and spreads
Asked For$250k for 5% equity
Final Deal$250k for a 20% equity with an option to return 5% if the sales benchmark is met
SharkDaniel Lubetzky Shark Tank Profile Daniel Lubetzky
Episode (Shark Tank USA)S15 E16
Air DateMarch 1, 2024
Business StatusIn Business
WebsiteVisit Website
HeadquartersWashington, District of Columbia, USA
Lifetime Worth (Sales)$606k *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of Fila Manila?

Image via ABC Shark Tank

Jake Deleon is the founder and CEO of “Fila Manila” company. He has great experience in the marketing field and has also studied at Harvard Business School Executive Education.

He has worked for 10 years in many popular companies including Procter & Gamble, Blizzard Entertainment, and Starbucks. After leaving his job in 2015, he started Origin Almond, a cold-pressed juices business, however, this business closed in 2020.

Apart from all this, he became a member of the Founders Community Founders Heritage in 2023.

How Was The Shark Tank Pitch Of Fila Manila?

After entering Shark Tank, Jake, a Filipino first-generation American immigrant, told his business story and asked the Sharks for $250k for 5% equity.

It was launched in November 2020 and sales were $6,000, 2021 sales were $50,000, 2022 sales were $400,000 and in 2023 the sales so far are $150,000 and are projected to be $850,000. Making cost of one pouch is $1.60, Wholesale is $3.33 and Retail is $5.99.

Last year, 90% of sales were retail and 10% online, mostly from Amazon. He has raised $900,000 at a $8 million valuation. Lori Greiner, Mark Cuban, and Daymond John refused to invest in this business. Kevin O’Leary said this business is not worth $5 million so he is out.

Daniel Lubetzky offered $250k for 20% equity at a $1.2 Million Valuation. Jake countered with Daniels making all the Sharks a royalty offer of $250k for a 5% equity + a royalty of 5-8% of sales until $250k is paid.

Kevin O’Leary offered $250k for a 10% equity + a royalty of 5-8% of sales until $500k is paid. Daniel Lubetzky made another offer of $250k for a 20% equity with an option to return 5% if the sales benchmark is met. Jake accepted Daniel’s offer.

Sharks Offers list!

SharksOffers
Daniel Lubetzky Shark Tank Profile Daniel Lubetzky$250k for 20% equity (#1)
$250k for a 20% equity with an option to return 5% if the sales benchmark is met (#2)
Kevin O'Leary Shark Tank Profile Kevin O’Leary$250k for a 10% equity + a royalty of 5-8% of sales until $500k is paid (#1)
Mark Cuban Shark Tank Profile Mark CubanNo Offer
Daymond John Daymond JohnNo Offer
Lori Greiner Profile for Shark Tank Lori GreinerNo Offer
Founder’s (Countered)$250k for a 5% equity + a royalty of 5-8% of sales until $250k is paid (All Sharks)
Final Deals$250k for a 20% equity with an option to return 5% if the sales benchmark is met

What Happened To Fila Manila After Shark Tank?

Fila Manila gets a deal on Shark Tank. Daniel Lubetzky invested $250k in this company for 20% equity with an option to return 5% if the sales benchmark is met. After this episode aired, Jake received a very positive response from people.

Fila Manila Shark Tank Update

After the “Deleon” entered the Shark Tank, the sharks explained the scope and market size of their business. He talked about many benefits related to business to attract investors. To take this business to the next level, an experienced business partner is required.

What Is Fila Manila’s Net Worth?

Fila Manila’s net worth is estimated at $0.8 million. There are many Filipino Americans in the United States and their population is also increasing. They eat a lot of Filipino food daily. This is a market size of $3 billion.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2024 *estimated
2023$150k *estimated
2022$400k *estimated
2021$50k *estimated
2020$6k *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2023$250kDaniel Lubetzky

Is Fila Manila Still In Business?

Jake Deleon has left his job and is now completely focusing on this business so that he can promote culture through his foods.

The headquarters of this food and beverage company is in Washington, District of Columbia, United States. According to the LinkedIn profile, the company currently has 2-10 employees.

Yes, Fila Manila is still in business as of March 2024.

frequently asked questions

Who is the Founder of Fila Manila?

Fila Manila was founded by Jake Deleon.

Did Fila Manila get a deal on Shark Tank?

Yes, Fila Manila got a deal on Shark Tank.