Cupbop Shark Tank Update

Cupbop Shark Tank Pitch

Jung Song and Dok Kwon appeared on Shark Tank Season 13, Episode 21, which aired on May 2, 2022, with Global Korean barbeque chain restaurant.

Cupbop is listed in the Food Beverage category. In plain terms, the business is described as Global Korean barbeque chain restaurant.

Cupbop asked the Sharks for $1,000,000 for 3%, implying a valuation of about $33.3 million.

On the show, Cupbop made a listed deal with Mark Cuban for $1,000,000 for 5%.

If treated as straight equity, the listed deal works out to about $20 million implied valuation, down from the original $33.3 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Cupbop After Shark Tank

Cupbop accepted Mark Cuban's $1 million for 5% offer. Unlike many Season 13 deals, outside tracking lists the post-show deal as closed and Mark as still involved. (Cupbop Shark Tank Update

Cupbop was already a mature restaurant business before Shark Tank, with strong system-wide sales and a mix of stores and food trucks. Later recap coverage describes the company as active with more than $40 million in sales. (Shark Tank Recap Cupbop update

The company continues to operate a U.S. store footprint and international presence, including a large Indonesia operation, while its current site still routes customers to menus, catering, and locations. (Shark Tank Recap Cupbop update

Sources

Sources used for this page: Shark Tank API pitches