Quevos Shark Tank Update (Season 12)

Quevos is a food and beverage startup based in Chicago, Illinois, specializing in high-protein, low-carb chips made from egg whites. These delicious snacks are designed to cater to health-conscious consumers, providing a guilt-free option with 8g of protein, 4g of net carbs, and 3g of fiber per serving. Additionally, they are gluten-free, making them suitable for a variety of dietary preferences.

The chips are available in several flavors, including Mesquite BBQ, Quevos Rancheros, Cheddar, Honey Mustard, Dill Pickle, and Sour Cream & Onion. They can be found in over 1,000 retail stores across Illinois, where they are praised for being crunchier and healthier than traditional potato chips.

If you need any more details or specific information about Quevos, feel free to ask!

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Who Is The Founder Of Quevos?

The co-founders of Quevos are Nick Hamburger and Zach Schrier, both 23 years old. In 2022, they were recognized in the Forbes 30 Under 30 list for their entrepreneurial success.

Zach serves as the Chief Operating Officer, leading the company’s operations, while Nick holds the position of Chief Executive Officer.

Zach’s sister, Carly, also played a crucial role in developing the chip recipe, contributing to the creation of this innovative snack.

Did Quevos Get a Deal on Shark Tank?

Founders Nick Hamburger and Zach Schrier sought $200,000 in exchange for 5% equity in their company, Quevos, which produces high-protein, low-carb chips made from egg whites. The Sharks were impressed by the company’s sales and previous funding rounds.

Robert Herjavec opted out, stating he lacked expertise in the food industry.

Kevin O’Leary offered $200,000 for a 2.5% stake plus a royalty of 10 cents per bag until he recouped $400,000. He emphasized his marketing expertise and ability to drive direct-to-consumer sales.

Daniel Lubetzky initially offered $200,000 for a 10% stake, suggesting he was the right investor for the brand. After a counteroffer from Nick and Zach, he revised his offer to $200,000 plus an additional $200,000 line of credit for the same 10% stake.

In response, Nick countered with an offer of $300,000 for 10%. Daniel then adjusted his offer to $200,000 for 10% equity along with 2% in advisory shares.

Ultimately, the deal was finalized with Daniel offering $200,000 for 10% equity and an additional $200,000 line of credit, securing his investment in Quevos.

Finalize: Daniel Lubetzky invests $200k in Quevos for 10% equity + $200,000 line of credit.

Quevos Shark Tank Update

Following their appearance on Shark Tank, Quevos experienced remarkable sales, generating $500,000 in just two weeks. Thanks to their ongoing partnership with investor Daniel Lubetzky, he invested $1.35 million to help elevate the product to a global market. Additionally, the company successfully raised $3.6 million from various investors.

Initially, the founders projected $1.3 million in sales by the end of 2021, but they exceeded expectations with total sales of $2 million. As of now, Quevos chips are available in over 1,500 retail locations, including GNC, Vitamin Shoppe, Whole Foods, and Wegman’s.

By 2021, the company’s lifetime sales reached $3.2 million, significantly transforming their business due to the exposure from the Shark Tank episode. Many customers began purchasing Quevos chips through Amazon and other retail stores, and the product received overwhelmingly positive feedback.

Daniel was particularly impressed with the product, noting its smokiness and delicious flavor, which further motivated his investment in the company.

What Is Quevos Net Worth?

Quevos is currently valued at an estimated $2 million and is experiencing significant growth. Recently, this innovative chip company has expanded its availability, reaching both the United States and international markets.

Yes, Quevos is still in business as of April 2024.