Jica Foods Shark Tank Net Worth-What Happened To Jica Foods After The Shark Tank Pitch?

What Is Jica Foods? Who Is The Founder Of Jica Foods?

Jica Foods is a food company founded in 2015 by Melissa and Xin Wang. It specializes in all things jicama-based, including JicaWraps (low-carb jicama tortilla wraps), JicaSticks (plain and cilantro lime-flavored jicama sticks), and Jica de Gallo (mild, hot, and fruit-flavored salsa).

Jicama is a root vegetable native to Mexico and Central America that has been part of the region’s diet for centuries. It has a taste similar to an apple or potato. Compared to one flour tortilla which has 100 calories and 15 carbs, one jicama tortilla made with jicama flour has just 8 calories and 2 carbs.

Jica Foods products are available on their website, Amazon Prime, Sprouts, Whole Foods, Vons, Pavillions, Albertsons, and other retailers

What Happen To Jica Foods At The Shark Tank Pitch?

Jica Foods appeared on Season 14, Episode 10 of “Shark Tank” seeking $300,000 for a 3% ownership in the company. The Sharks were skeptical about the company’s profit figures and the deal fell through.

Kevin O’Leary expressed doubt that any of the Sharks would be interested in the entrepreneurs’ proposal. All of the Sharks except for “Mr. Wonderful” and Corcoran declined to participate.

Corcoran offered $300,000 in exchange for a 10% ownership in the company, as well as a pro-rata distribution. The entrepreneurs countered with a 5% ownership offer, which Corcoran promptly rejected.

O’Leary proposed the same deal at 9%. This sparked a competitive bidding war between the two Sharks and negotiations between them and the entrepreneurs.

Ultimately, Corcoran and Jica Foods came to an agreement of $300,000 for a 6% ownership stake, in addition to 3% in advisory shares and a pro-rata distribution.

What Happen To Jica Foods After The Shark Tank Pitch?

Jica Foods appeared on Shark Tank in Season 14, where they pitched their business and asked for $300,000 for a 3% equity. They got a deal with Barbara Corcoran, who invested $300,000 for 6% equity and 3% advisory shares.

Before appearing on Shark Tank, Jica Foods was available in 700 stores, including Whole Foods and Sprouts. As of 2023, their products are available in 177 Walmart stores, 234 Sprouts stores, and 78 Whole Foods stores.

According to the founder of Jica Foods, they projected $9 million in sales by 2023. Their annual revenue was estimated at $1 million before appearing on Shark Tank. In the year following their appearance on the show (2020), they reached $5 million in sales.

Jica Foods started out selling jicama chips but transitioned to Jica Wraps after struggling to compete with big chip brands that were already in the market.

Their climb in profits didn’t stop there as they continued to expand their product line. As of 2023, Jica Foods continues to expand its business and increase its sales every year.

Table: Jica Foods Summary

ASPECT	INFORMATION
Company Name	Jica Foods
Founder	Melissa and Xin Wang
Year Founded	2015
Product	Jicama-based products including JicaWraps, JicaSticks, and Jica de Gallo
Shark Tank Appearance	Season 14, Episode 10
Amount Requested on Shark Tank	$300,000
Equity Offered on Shark Tank	3%
Shark That Made a Deal	Barbara Corcoran
Amount of Investment	$300,000
Equity Offered to Barbara Corcoran	6%
Advisory Shares Offered to Barbara Corcoran	3%
Availability of Products	Online, Amazon Prime, Whole Foods, Sprouts, Vons, Pavilions, Albertsons
Sales Projections for 2023	$9 million
Annual Revenue Before Shark Tank	$1 million
Net Worth as of January 2023	$5 million
Availability of Products in 2023	177 Walmart stores, 234 Sprouts stores, and 78 Whole Foods stores
Is Jica Foods still in business?	Yes
Sales in 2020	$5 million
Sales in 2021	$6 million
Sales in 2022	$4 million
Profit in 2022	$400,000
Reason for Transitioning from Chips to Wraps	Competition with big chip brands
Shelf Life of Products	19 days
Source of Jicama	Mexico

Jica Foods Shark Tank Net Worth

As of January 2023, their net worth is estimated at $5 million with annual revenue of $1 million.

Jica Foods appeared on Shark Tank season 14 episode 10 where they asked for $300k for a 3% equity. They got a deal on the show, and their sales have been continuously increasing every year.

They received an investment from Barbara Corcoran who invested $300k for 6% equity in Kudos + 3% advisory share. 

Is Jica Foods Still In Business?

Yes, Jica Foods is still in business as of January 2023. The company was launched in 2019 and its sales reached $1 million in a year. Their sales increased to $4 million in 2020, $5 million in 2021, and $6 million in 2022.

Jica Foods’ profit in 2022 was $400,000, which is less than the previous year because they invested a lot of money in self-manufacturing. The company’s products are available online and can be bought through Amazon Prime. They are also sold at Whole Foods and Sprouts Farmers’ Market.

Jica Foods specializes in all things Jicama based. Their products include wraps, sticks, and Jica de Gallo (a salsa dip with Jicama as its main ingredient).

They also have a fruit option that is made with pineapples inspired by Mexico City-style pico that goes great with any taco recipe or can be used as a dip. The shelf life of their food is 19 days and it is sourced from Mexico.

Jica Foods got a deal on Shark Tank with Barbara Corcoran for $300,000 for 6% equity and 3% advisory shares. Since the appearance of Shark Tank, the company has continued to expand its product line while lowering customer acquisition costs and improving margins to maintain profitability.

Jica Foods Shark Tank Updates

JicaFoods is a food and beverage services business that was launched in California in 2015 by Melissa Colella-Wang and Xin Wang. The company started by selling Jicama Chips in the Farmer’s Market after the founders had eaten Jicama Foods in Mexico and liked its taste.

However, they had a hard time competing with big chip brands that were already in the market, so they decided to transition to Jica Wraps for tacos.

JicaFoods appeared on Shark Tank Season 14 and asked for $300,000 for 3% equity. They managed to secure a deal with Barbara Corcoran for $300,000 for 6% equity and 3% advisory shares.

JicaFoods has been doing well since appearing on Shark Tank, with over $1 million in annual revenue. Their products are available in 177 Walmart stores, 234 Sprouts stores, and 78 Whole Foods stores. The company’s annual revenue is estimated to be $5 million in sales during the 2021 calendar year.

JicaFoods has expanded its range of products to include Jicama sticks and salsas, which are found in the fresh produce section of grocery stores. The company has also been featured in a variety of retailers, including Vons, Pavillions, and Albertsons.

JicaFoods continues to expand, projecting $9 million in sales by 2023. The company has been active on social media, with consistent posts and over 8,000 followers. However, their Facebook and Twitter accounts haven’t been active since January 2022.

Overall, JicaFoods has been successful since appearing on Shark Tank and has expanded its product range and retail presence.

What Is Jica Foods?

Jicama is a root vegetable that is low in calories, sugars, and carbohydrates and is filled with vitamin C and potassium.

Jica Foods was founded in 2015 by Melissa and Xin Wang, who discovered jicama while on a trip to Mexico. The company appeared on Season 14, Episode 10 of Shark Tank, where they sought $300,000 for a 3% ownership in t

Jica Foods is a food company that specializes in jicama-based products he company. The Sharks tried Jica Foods’ products, which include wraps, sticks, and salsa dip with flavors ranging from pineapple to mild and hot.

Jica Foods’ products are baked and contain a light coat of olive oil. The company’s flagship product is JicaWraps, which are low-carb tortilla wraps made from jicama flour. Compared to a flour tortilla, which has 100 calories and 15 carbs, one jicama tortilla made with jicama flour has just 8 calories and 2 carbs.

Jica Foods’ products are available in their online store and can be bought through Amazon Prime. The company also plans to launch a product request form for vendors who want to sell their products in their stores.

Jicama has been consumed for centuries in Mexico and Central America. It is described to taste similar to apples and potatoes. Jicama is a nutrient-packed vegetable that is filled with vitamin C and potassium and is low in calories, sugars, and carbohydrates. Jica Foods is the world’s first Jicama-based company.

How Does Jica Foods Shark Tank Work?

Jica Foods is a company that specializes in jicama-based foods. Jicama is a low-calorie, nutrient-dense root vegetable that has been consumed for centuries in Mexico and Central America.

The founders of Jica Foods, Xin Wang and Melissa Colella-Wang, discovered jicama while on a trip to Mexico in 2015. Prior to appearing on Shark Tank, Jica Foods was already being sold in 700 stores, including Whole Foods and Sprouts.

On Season 14, Episode 10 of Shark Tank, Jica Foods sought $300,000 for a 3% ownership in the company. The Sharks tried the products, and Guest Shark Gwyneth Paltrow said she understood the appeal of jicama, as it’s part of the growing health food craze.

The Sharks ultimately made a deal with Jica Foods, offering $300,000 for 6% equity and 3% advisory shares. Barbara Corcoran was the Shark who made the deal with Jica Foods.

Jica Foods sells regular and cilantro-lime-flavored jicama sticks, wraps, and salsas, with flavors ranging from pineapple to mild and hot. The company is doing well with over $1 million in annual revenue and $5 million in sales during the 2021 calendar year.

How Has Jica Foods Since Appearing On Shark Tank?

Jica Foods is a food company that was founded by Melissa Colella-Wang and Xin Wang in 2015 after they discovered jicama, a vegetable native to Mexico, while on a trip there.

Initially, the company produced jicama chips, but they later pivoted to fresh-cut jicama in 2019, which resulted in sales of $1 million.

The company’s sales continued to increase year after year, culminating in $6 million in 2022, the year before its appearance on Shark Tank.

Jica Foods appeared on Season 14, Episode 10 of Shark Tank, where they asked for $300,000 for 3% equity in the company.

The sharks were impressed with the company’s products and its presence in stores such as Whole Foods and Sprouts Farmers’ Market. Barbara Corcoran made a deal with Jica Foods, offering $300,000 for 6% equity and 3% advisory shares.

Since appearing on Shark Tank, Jica Foods has continued to expand. Their products are now available in 177 Walmart stores estimated to be $5 million.

Jica Foods currently has three food items: wraps, sticks, and Jica de Gallo, which is a salsa dip with jicama as its main ingredient. The company’s products can be purchased through their online store or Amazon Prime.

What Is The Current Valuation Of Jica Foods After Shark Tank?

Jica Foods is currently valued at $5 million after appearing on Shark Tank and getting a deal with Barbara Corcoran. The company’s founders, Xin and Melissa Colella-Wang, started the business in California in 2015 after a trip to Mexico where they ate Jicama Foods and liked its taste.

They started selling Jicama Chips in the Farmer’s Market and their products are now available in 177 Walmart stores, 234 Sprouts stores, and 78 Whole Foods stores. The company has 7 full-time employees and an estimated annual revenue of $1 million.

Jica Foods appeared on Shark Tank and asked for $300k for a 3% equity. The sharks were impressed with their pitch and the company got a deal on the show. Since appearing on Shark Tank, Jica Foods’ sales have been continuously increasing in million every year.

The company already has 8,000 followers on Instagram, and its products mostly have positive reviews online.