Shark Tank Pitch
Rapid Ramen Cooker Shark Tank Update
Published:
3m
Sacramento, CA
| Name | Rapid Ramen Cooker |
|---|---|
| Main Presenters | Chris Johnson |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 11/30/2022 |
| Main Location | Sacramento, CA Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Deal was made on the show with sharks Mark Cuban for $300k for 15% of company, $150k of which in form of a loan, but it fell through after the show. |
Rapid Ramen Cooker Shark Tank Pitch
Chris Johnson woke the sharks up with his false shy intro. Chris created the Rapid Ramen Cooker, a tray to make cooking ramen faster and easier. Chris has been a serial entrepreneur growing up building businesses such as dance parties and a modeling agency.
Chris did $164k in sales in the last three months and grew from being in zero stores to 2,500. Chris expects to do over $2 million in revenue this year. Chris wants to use the $300k to buy inventory.
The sharks are skeptical on Chris' projections and valuation. They suspect Chris likes flipping in and out of businesses quickly. Chris says he wouldn't sell his company if offered $3 million today.
You're a fool. I'm out.
Kevin and Robert threw some offers around that were beyond what Chris would take, and Mark jumped back in and made a deal with Chris. Chris even successfully negotiated Mark lower and was evidently thrilled with the deal.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $300k for 10% of company | |
| Sharks | Out | Mark Cuban | Out |
| Sharks | Out | Kevin O'Leary | $300k for 0% of company and $1.10 royalty per unit until repaid then drops to 50 cents |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Offered | Robert Herjavec | $300k for 40% of company |
| Sharks | Offered | Robert Herjavec, Kevin O'Leary | $300k for 25% of company and 75 cent royalty until paid back and falls to to 25 cents |
| Sharks | Offered | $300k for 20% of company | |
| Sharks | Out | Mark Cuban | $300k for 20% of company, $150k of which in form of a loan |
| Company | Deal Never Closed | Mark Cuban | $300k for 15% of company, $150k of which in form of a loan |
Mark Cuban
Deal Never Closed
Barbara Corcoran
Out
Kevin O'Leary
Offered
Lori Greiner
Out
Robert Herjavec
Offered
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Rapid Ramen Cooker After Shark Tank
Chris Johnson did an interview with Shark Tank Blog before airing and said he had stumbled upon what works best for making Ramen through personal experimentation and honed in on the perfect shape and water amount by tweaking 3d printed models with over 200 ramen noodle cooking tests until he found the perfect solution.
Link Preview
interview
https://www.sharktankblog.com/chris-johnson-rapid-ramen-pre-show-interview/?csspreview=true
When he launched in 2012, Chris said he was getting few sales and pessimistic emails about the product just when a news interview with him went semi-viral. In an interview with Shark Tank Blog after airing Chris said he had not yer finalized a deal with Mark Cuban but hoped to soon.
Link Preview
interview
https://www.sharktankblog.com/rapid-ramen-update/?csspreview=true
As of 2022, according to the about us page of Rapid Ramen Cooker's website, rapidbrandsinc.com , the Rapid Ramen Cooker is in over 50k stores and 1k college bookstores. The company goes by Rapid Brands and sells some random products, such as joke books that Chris' son made and dental tools for dogs.
Link Preview
rapidbrandsinc.com
https://rapidbrandsinc.com/
The Rapid Ramen Cooker has over 24k ratings on Amazon with a 4.5-star review, which is good. Chris spoke about Rapid Ramen Cooker in a 2016 YouTube video, and he said that after selling so much on air night, he decided not to move forward with Mark's deal.
Link Preview
Amazon
https://a.co/d/90BpVyO
Link Preview
YouTube
https://youtu.be/lKrGpc_4ZOI
Chris periodically posts on his Facebook about his life, most recently in 2021, about being thankful for his family. Chris spoke on a YouTube interview in 2020 and said his staffing business took a hit during the covid panic but grew the Rapid Ramen Cooker by building an influencer company by trusting in his niece. Chris speaks about all his lessons such as mentorship, execution, and mental well-being. He also talks about getting a $3.2 million order from Walmart and the blessings and issues that came along with it such as overordering inventory. Chris expresses so much joy speaking about entrepreneurship and brings up interesting points.
Link Preview
Facebook
https://www.facebook.com/chrisjohnsonbiz
Link Preview
YouTube
https://youtu.be/JVI2F9JjjcM
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