Chef in Black Shark Tank Net Worth 2023
Dorene and her daughter, Brooke, showcased their business idea, The Chef in Black, on Shark Tank season 1 episode 11 with the goal of receiving $50,000 for a 10% stake. This equates to a valuation of $500,000.
After negotiating with the shark Barbara Corcoran offered them $50,000 for 35%, therefore valuing their business at only $142,857. Ultimately they accepted an offer from Barbara and sealed the deal.
The net worth of Chef in Black is unknown as of 2023 as Chef in Black went out of business in 2022.
The company’s valuation was $500,000 when it appeared on Shark Tank, and one of the sharks, Barbara Corcoran, struck a deal with Humason ($50,000 for 35% equity) the estimated valuation/net worth of Chef in Black was $160,000.
What was Chef in Black?
Chef in Black is a company that produces bottles of California Asian Fusion salad dressings and spice sachets using natural ingredients. All of their dressings are gluten-free and can be used as stir-fry seasoning or marinade.
The Chef in Black dressing mix can be found in over 1200 retailers. The company was founded by Dorene Humason, who had worked in the food industry for 25 years but never received adequate compensation.
After a long and tiring shift, Humason decided to put her skills and expertise to use in creating her own product. She wanted to make a salad dressing that was natural, gluten-free, and of high quality.
After experimenting with different spice combinations, Humason finally found the right blend and named it Jaden, after the Chinese gemstone jade. She left her job to focus on her dressing and her company, Chef in Black, and is now proud to offer her product to the world.
What happened to Chef in Black at the Shark Tank Pitch?
Dorene and her daughter, Brooke, appeared on the eleventh episode of season 1 of Shark Tank, seeking a $50,000 investment for a 10% share in their company, The Chef in Black. This valued the company at $500,000.
During the presentation, Dorene discussed the business while Brooke served each of the Sharks a salad with their Jaden Chinese Dressing. Dorene was well-prepared and handled all the Sharks’ questions with ease.
She shared a story about a packaging mistake where she accidentally used an image of a Japanese prostitute instead of a Chinese woman on her product packaging. She had to remove all the products from the shelves, which cost her a significant amount of money.
In the first year of sales, the company earned around $78,000 by supplying only 450 retailers. Although the Sharks enjoyed the Chef in Black dressing, they were unsure about investing in the business.
Kevin H. believed that Dorene’s marketing pitch was confusing and withdrew from the deal. Robert was also out because he considered the food industry to be too risky.
Daymond expressed his support for Dorene and believed she had potential in the industry but was uncomfortable with the current business model, so he declined to invest. Mr. Wonderful liked the dressing but was not interested in investing in the business.
Barbara liked the dressing and saw potential in the company. She made an offer of $50,000 for 40% of the company, with the condition that Dorene abandons her plan to market bottled dressing immediately and instead focuses on getting the mix into stores across the country. Dorene countered with an offer of $50,000 for 35%, and they ultimately reached an agreement.
What happened to Chef in Black after the Shark Tank Pitch?
Dorene had plans to continue with producing bottled dressings, and as a result, the agreement with Barbara never came to fruition. After their meeting, they departed amicably and Dorene resumed her work.
To maintain a consistent brand image, she changed the name of the product from Jaden Chinese Salad Dressing to The Chef in Black California Asian Fusion Dressing. The new packaging no longer featured any images or references to prostitutes.
The Chef in Black’s bottled dressings and dry mix packets are now available in more than 2000 retail locations across the country, and the company recently finalized a deal to have their products sold at Walmart stores.
However, the Chef in Black website is no longer active, and the products are no longer sold on Amazon. The company ceased operations in September 2016.
Chef in Black Net worth
Dorene and her daughter, Brooke, appeared on Shark Tank season 1 episode 11 in search of $50,000 for a 10% stake in The Chef in Black. This equates to a $500,000 valuation.
She accepted an offer from Barbara of $50,000 for 35% thus bringing valuation to be $142,857.
Chef in Black Competitors
There is no competitor identified for Chef in Black.
Chef in Black FAQS
What was Chef in Black?
Chef in Black is a California-based firm that manufactures a variety of Asian Fusion salad dressings in both bottles and seasoning sachets.
All dressings are gluten free and made using natural ingredients. The spices and dressing can also be used as a marinade or for stir frying.
Who was the founder of Chef in Black?
Dorene Humason, is the founder of Chef in Black.
How was she seeking in the Shark Tank?
The firm is seeking $500,000 for a 10% stake in the company.
Did he get the deal from the Sharks?
Yes, she accepted an offer from Barbara of $50,000 for 35% stake in the business.
Did they closed the deal?
No, they did not closed the deal.
What is the Chef in Black net worth now?
As of September 2016, this firm is no longer in operation.
Is Chef in Black still in business?
As of September 2016, this firm is no longer in operation.
When was Chef in Black aired on Shark Tank?
Chef in Black appeared on Shark Tank season 1 episode 11 on January 8th, 2010.
What happened to Chef in Black Shark Tank?
Chef in Black’s website has been discontinued, and the dressing is no longer available on Amazon or Walmart. It appears as though the Sharks knew more about the food business than Humason suspected.
Where was Chef in Black located?
Chef in Black is located in Folsom, California.
Does Chef in Black have a website?
Chef in Black no longer has a website and the product is no longer available on Amazon or Walmart.
Is there an official Facebook page for Chef in Black?
Yes, it is available but not updated.
Were Chef in Black natural?
Yes, all Chef in Black dressings were natural, gluten-free and made with natural ingredients.
What is net worth of Dorene Humason?
Dorene Humason’s net worth is unavailable.
Was Chef in Black successful business?
Even though Chef in Black were available in over 2000 locations nationally, and the company was shut down in September 2016.
