Chirps Shark Tank Update

Chirps Shark Tank Pitch

Laura D’Asaro and Rose Wang appeared on Shark Tank Season 8, Episode 14, which aired on January 26, 2017, with high-protein chips made from ground crickets.

Chirps is listed in the Food Beverage category. In plain terms, the business is described as high-protein chips made from ground crickets.

Chirps asked the Sharks for $100,000 for 7%, implying a valuation of about $1.4 million.

On the show, Chirps made a listed deal with Mark Cuban for $100,000 for 15%.

If treated as straight equity, the listed deal works out to about $666,666.667 implied valuation, down from the original $1.4 million implied valuation.

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

Chirps After Shark Tank

Chirps accepted an on-air Shark Tank deal for $100,000 for 15%. The company is still operating after its Shark Tank appearance. (Chirps Shark Tank Update

Chirps reported annual revenue of $1 million. (Chirps Shark Tank Update

Products from Chirps are available in over a thousand stores nationwide including all Vatamin Shoppe stores. (Chirps Shark Tank Update

Since doing the deal with Mark, Chirps added new products: cupcake and cookie mixes, whole roasted crickets and cricket protein powder. (Chirps Shark Tank Update

The company closed their deal and expanded distribution. (Chirps Shark Tank Update

The official website for Chirps is listed as eatchirps.com. (Chirps website

Sources

Sources used for this page: Shark Tank API pitches