Magic Cook Shark Tank Net Worth 2023
Sharon was a guest on Shark Tank seeking financial investment and support for her company, Magic Cook. She was looking for a total of $100,000 to assist with the growth and expansion of her business, and she was willing to offer a 20% stake in her company in exchange for the funding. This valuation indicated that her firm was valued at $500,000.
Daymond offered her a deal of $100,000 in exchange for a 33% stake in Magic Cook, which valued her firm at $303,030.30.
Since 2018, social media surrounding Magic Cook has not seen any updates; leading many to think that the enthusiasm for the product is cooling off. Even though there hasn’t been a lot of activity on the platform, existing followers remain loyal and committed to the brand.
What is Magic Cook? Who is the Founder of Magic Cook?
The Magic Cook is a cooking system that is self-contained and does not require any electricity, batteries, gas, or fire. The stainless steel container is equipped with heat packs that can quickly boil water to cook the food.
To use it, you simply fill the plastic jar with water and a heat packet, then place the stainless steel insert inside and secure it with the pressure-resistant lid.
The food in the stainless steel container cooks in conjunction with the boiling water. There are two sizes available: a rectangular lunch box and a cup.
Outdoor enthusiasts appreciate The Magic Cook because it allows them to prepare a hot meal or beverage quickly without having to build a fire or use a gas burner.
The lunchbox size can even cook frozen food in just 20-25 minutes. Each Magic Cook purchase comes with one heat pack, and replacements can be purchased in packs of ten.
The Magic Cook is now available on Amazon. The founder of the company, Sharon Yu, is an experienced entrepreneur who established her first firm in 1999 and has worked in the manufacturing sector, primarily in the production and sales of Chinese-made items.
Yu was inspired to create The Magic Cook by natural disasters, particularly Hurricane Sandy, which made her realize how important it is to always be prepared, especially when it comes to cooking during power outages.
As a passionate camper and hiker herself, Yu saw the need for a cooking system that could provide nutritious meals outdoors with minimal equipment and at a reasonable price. After two years of research, she came up with the perfect solution to fill that need.
Magic Cook Shark Tank Pitch
Sharon made an appearance on Season 6, Episode 10 of Shark Tank where she secured a deal worth $100,000 and a 20% stake in her firm, indicating a $500,000 valuation.
Although she appeared nervous, Sharon did an excellent job demonstrating her product, which includes a container that boils water for 20 minutes.
During the pitch, Mr. Wonderful questioned who would need such a product, while Mark saw the potential for workplace use. Sharon emphasized the safety of her product, which includes heat packs that are sold in packs of five for $9.99, costing around $2 to produce.
The cost of production for each box is $6.50, which includes one heat pack. The box kit is sold for $29.99, while the tumbler-sized bottles are sold for $19.99, which also includes one heat pack.
These products are available in sports goods stores. Sharon disclosed that she has sold 35,000 packets within the last 12 months, generating a total revenue of $150,000. However, Mark, Nick, and Lori decided not to invest due to various reasons.
After the break, Daymond expressed his interest in partnering with Sharon, offering $100,000 for a 33% stake. Sharon requested to speak with her lawyer, but Daymond suggested calling her family member instead.
Sharon ultimately accepted Daymond’s offer and expanded her product line, which now includes a triple-layer lunchbox, a cup, and a backpack with an umbrella.
Daymond even appeared on HSN to market the products, which sold out in less than five minutes. As of August 2021, Magic Cook continues to operate, generating yearly sales of $3 million.
In February 2023, Amazon’s stock of lunch boxes has been completely sold out and the product is no longer available to be purchased – however, refill heating packs still remain in stock and can still be obtained. Although the lunch boxes are no longer on sale, customers can take advantage of this offer to obtain more heating packs if needed.
Magic Cook’s Net Worth
Sharon appears on Shark Tank searching for $100,000 and a 20% stake in her firm. This indicates a $500,000 valuation. She accepted an offer from Daymond of $100,000 for a 33% stake thus valuing the Company at $303,030.30.
Magic Cook Competitors
There is no competitor identified for Magic Cook.
Magic Cook Shark Tank Updates
Magic Cook is a line of cooking containers that can be used as stand-alone cooking devices. The vessel boils water in a pressure-sealed bottom component using a heat pack, while food is cooked in an upper component placed on top of the lower component.
The Magic Cook is a portable cooker that can be operated without electricity, batteries, fire, or gas. It takes around 30 seconds for the heat packs in the stainless steel container to bring the water to a boil.
Sharon Yu pitched Magic Cook on Shark Tank in Season 6 Episode 10. She asked for $100,000 for 20% equity and received an offer of $100,000 for 33% equity from Daymond John. As of August 2021, the company was still in business with $3 million in annual revenue.
However, as of February 2023, the products are no longer available on Amazon, and the lunch boxes are sold out. Refill heating packs are still available. Social media hasn’t been updated since 2018, so it appears things are cooling off for Magic Cook.
In addition to the Magic Cook line, Sharon introduced some new products on her site, including the EZ Funshell backpack with an attached umbrella, flashlights, and a cooling fan for camping. Despite the lack of recent updates, Magic Cook is still executing its business operation as of 2022.
Magic Cook Shark Tank 2023
| PARAMETER | DESCRIPTION |
| Company Name | Magic Cook |
| Founder | Sharon Yu |
| Product | A self-contained cooking system that boils water without electricity, batteries, gas or fire |
| Available Sizes | Rectangular lunch box and a cup |
| Shark Tank Appearance | Season 6, Episode 10 |
| Shark Tank Deal | $100,000 for a 33% stake from Daymond John |
| Valuation | $303,030.30 |
| Current Sales | $3 million |
| Competitors | None Identified |
| Current Status | Still in business, but the lunch box product currently unavailable on Amazon |
| Notable Features | Portable, quick cooking and heat packs can be replaced |
Magic Cook FAQS
What Is Magic Cook Shark Tank?
Magic Cook is a line of cooking containers that was pitched on Shark Tank in episode 612 by Sharon Yu. The containers are made of plastic with a stainless steel insert.
Water and a heat packet are added to the plastic vessel, and then the stainless steel insert is nested inside before getting locked down by the pressure-resistant top.
Food placed in the stainless steel container cooks as the water boils. The product comes in a rectangular “lunch box” size and in a cup form.
Magic Cook uses a water-activated heat source instead of electricity, wood, or gas. The heat packs in the stainless steel container take around 30 seconds to bring the water to a boil. The product is portable and can be used for outdoor cooking, camping, fishing, emergency situations, and daily lunch cup.
The company generates about $3 million per year in annual revenue. In the Shark Tank episode, Sharon Yu asked for $100,000 for 20% equity, and Daymond John offered $100,000 for 33% equity, which Sharon accepted.
How Does Magic Cook Shark Tank Work?
The Magic Cook is a line of cooking containers that uses a water-activated heat source instead of electricity, wood, or gas. The product consists of a plastic vessel with a stainless steel insert.
Water and a heat packet are added to the plastic vessel, and then the stainless steel insert is nested inside before getting locked down by the pressure-resistant top. Food placed in the stainless steel container cooks as the water boils.
The Magic Cook comes in a rectangular “lunch box” size and in a cup form.
The Magic Cook is popular among outdoor enthusiasts because it is flameless and can be used in fire ban areas, as well as in rainy or windy conditions. The product can heat foods and beverages at temperatures up to 200 degrees Fahrenheit using a container the size of a tumbler.
Cook time ranges from about 10 minutes for coffee to 25 minutes for frozen food.
The Magic Cook can be used for outdoor activities such as hunting, fishing, and hiking, as well as for construction workers, overseas travelers, emergencies, survival situations, college dorms, and heating up baby meals and medicine.
The Magic Cook appeared on Shark Tank in episode 612, where Sharon Yu pitched the product. The valuation of Magic Cook was $500,000 when it appeared on Shark Tank, and its net worth is about $1 million as of 2022.
What Happened To Magic Cook After Shark Tank?
MagicCook is a collection of innovative food containers that can be used as stand-alone cooking devices. The vessel boils water in a pressure-sealed bottom component using a heat pack, while food is cooked in an upper component placed on top of the lower component.
The MagicCook is a portable cooker that can be operated without electricity, batteries, fire, or gas. Sharon Yu, the founder of MagicCook, appeared on Shark Tank in Season 6 Episode 10, presenting the business to all sharks in the hope of getting financing of $100,000 with a 20% stake in the company.
She managed to secure a deal with Daymond John for $100,000 for 33% equity.
What Is The Current Valuation Of Magic Cook Shark Tank?
Magic Cook is a collection of innovative food containers that can be used as stand-alone cooking devices. The vessel boils water in a pressure-sealed bottom component using a heat pack, while food is cooked in an upper component placed on top of the lower component.
The Magic Cook is a portable cooker that can be operated without electricity, batteries, fire, or gas.
Magic Cook appeared on Shark Tank seeking financial investment and support for her company. The valuation of Magic Cook was $500,000 when it appeared on Shark Tank, and Daymond offered her a deal of $100,000 in exchange for a 33% stake in Magic Cook, which valued her firm at $303,030.30.
As of 2022, Magic Cook’s founder Sharon Yu has a net worth of $667,000 USD.
In August 2021, the company was making roughly $3 million a year in revenue. However, there is no information available on the current valuation of Magic Cook Shark Tank.
Is Magic Cook Shark Tank Is In Business?
Yes, Magic Cook from Shark Tank is still in business as of April 2023. The company was making roughly $3 million a year in revenue as of August 2021. The company sells a line of cooking containers that use heat packets to cook food without the need for electricity, gas, or fire.
The product is popular among outdoor enthusiasts who want a hot meal or beverage in a few minutes without lighting a fire or gas stove. The Magic Cook comes in a rectangular “lunch box” size and in a cup form.
The lunchbox-sized one can bring food from frozen solid to cooked in 20-25 minutes. Each version of The Magic Cook comes with one heat pack, and refill heating packs come in packs of 10.
As of February 2023, the products are no longer available on Amazon, and the lunch boxes are sold out. However, refill heating packs are still available. Social media hasn’t been updated since 2018, so it appears things are cooling off for Magic Cook.
Despite this, the company is still executing its business operation today.
How Much Was Magic Cook Seeking In The Shark Tank?
Sharon Yu, the founder of Magic Cook, entered the Shark Tank seeking an investment of $100,000 in exchange for a 20% stake in her company. She ultimately accepted Daymond John’s deal, which was not disclosed in the search results.
At the time of the Shark Tank episode airdate in the fall of 2014, Magic Cook had brought in $150,000 in revenue in its first year and was available in a variety of retail stores.
Daymond John agreed to invest $100,000 for 33% equity in Magic Cook. As of February 2023, Magic Cook is still in business with $3 million in annual revenue.
Did Magic Cook Get The Deal From The Sharks?
Yes, Magic Cook did get a deal from the Sharks on Shark Tank. Sharon Yu, the founder of Magic Cook, appeared on Season 6 Episode 10 of Shark Tank and asked for $100,000 for a 20% stake in the company.
Daymond John made an offer of $100,000 for 33% equity, which Sharon accepted. The valuation of Magic Cook increased from $500,000 prior to its appearance on Shark Tank to $1 million as of 2022.
After the show, Daymond John appeared on HSN to promote Magic Cook in 2016, and the products sold out in less than five minutes. Magic Cook continues to be in business, with annual revenue above $3 million as of 2022. However, the listing of Magic Cook on Amazon appears to be defunct.
Is Magic Cook Still In Business?
Yes, Magic Cook is still in business as of April 2023. The company was founded by Sharon Yu, who appeared on Shark Tank in 2015 to pitch her line of cooking containers.
Magic Cook is a plastic vessel with a stainless steel insert that uses a heat packet and water to cook food without fire, electricity, or gas. The company has expanded its product line to include a triple-layer lunchbox, a cooling fan, and flashlights for camping.
As of August 2021, Magic Cook had an annual revenue of $3 million. However, in February 2023, the products were no longer available on Amazon, and the lunch boxes were sold out. Refillable heating packs are still available.
Magic Cook is licensing the patent or design since the company has only three Magic Cook Cups listed on Amazon. Customers can purchase the Magic Cook Cup only on the Magic Cook website and Amazon.
Despite the loss of ground in the outdoor market, Magic Cook continues to be in business, with annual revenue above $3 million as of 2022. Consumers can purchase the company’s products on the company’s website, on Amazon, and in retail locations in the United States.
What Is The Current Status Of Magic Cook After Shark Tank?
Magic Cook is still in business as of 2022, with an annual revenue of $3 million. However, the products are no longer available on Amazon as of February 2023, and the lunch boxes are sold out. Refillable heating packs are still available.
The company was founded by Sharon Yu, who appeared on Shark Tank in Season 6, Episode 10, seeking a $100,000 investment for a 20% stake in her company. Daymond John agreed to invest $100,000 for 33% equity in Magic Cook.
The valuation of Magic Cook was $500,000 when it appeared on Shark Tank. The social media community surrounding Magic Cook has not seen any updates since 2018, leading many to think that the enthusiasm for the product is cooling off.
Has Magic Cook Expanded Its Product Line Since Appearing On Shark Tank?
There is no clear evidence that Magic Cook has expanded its product line since appearing on Shark Tank. The company’s main product is still the Magic Cook, a portable cooking container that uses heat packs to boil water and cook food without fire, electricity, or gas.
Sharon Yu, the founder of Magic Cook, appeared on Shark Tank in 2014 and secured a deal with Daymond John for $100,000 for 33% equity in the company. In 2016, John appeared on HSN to promote Magic Cook and pitched the products, which sold out in less than five minutes.
However, there have been no recent updates on the company’s social media since 2018, leading some to believe that enthusiasm for the product is cooling off. Despite this, Magic Cook is still in business, and consumers can purchase the company’s products.
What New Products Has Magic Cook Released Since Appearing On Shark Tank?
There are conflicting reports regarding whether Magic Cook has released new products since appearing on Shark Tank.
Daymond John helped Sharon Yu expand her product line to include a triple-layer lunchbox, a cup, and a backpack with an umbrella. However, another source states that the company still offers its original product, the Magic Cook, which is a line of cooking containers.
While the company has updated its website with several new products, it appears that these are variations of the original Magic Cook product. It is unclear whether these new products were released after the company’s appearance on Shark Tank.
Where Can I Purchase Magic Cook Products Now?
Magic Cook products can be purchased from various online stores, including Ubuy Ghana, Shark Tank Shopper, and the Magic Cook official website. The company’s products were previously available on Amazon, but as of February 2023, they are no longer available on the platform.
However, the company still sells refill heating packs on its website. It is unclear if the company plans to restock the cup that was previously available on Amazon. While there are no identified competitors for Magic Cook, Amazon currently sells products with similar quality and functions.
How does Magic Cook work?
The Magic Cook Lunch Box has two nesting compartments. The area between the outer and inner plastic containers is filled with hot water and steam, which is used to heat their noodles, veggies, soup, and eggs, among other things.
The Magic Cook Bottle Cup may be used to rehydrate their favorite tea or coffee.
What is magic Cook made of?
The Magic Cook is a tumbler-sized food and beverage container that heats meals to a temperature of 200 degrees Fahrenheit.
The heat is created chemically when a Magic Heat Pack is submerged in a little amount of water at the bottom of the container.
The Magic Cook is constructed of heat-resistant food-grade plastic and stainless steel.
How long does Magic Cook stay warm?
Once the Magic Cook reaches its maximum temperature, it will remain warm for up to 30 minutes to an hour.
What type of food can they warm up?
The Magic Cook is capable of cooking pasta, soup, hot dogs, and dried meals, among other things.
How long does it take to cook food?
Depending on the type of food they cook, Magic Cook will cook or reheat it within 5-20 minutes and keep it warm for up to 30 minutes to an hour.
Do they have to use water to activate the heat pack?
Any form of liquid may be used to activate the magic cook heat packs. For example, water and melting snow.
How long can they store the heat packs?
Their heat packs have a 5-year shelf life.
Is the heat packs toxic?
No. Magic Cook heat packs are non-toxic and odorless.
Will Magic Cook heat packs work with any other containers?
No, Magic Cook hot packs are intended to be used exclusively with their Magic Cook Lunch Box and Cup.
Will the container shatter as a result of the high heat?
No, Magic Cook Containers are constructed of double-walled, high-temperature-resistant food-grade materials.
The stainless steel cooker is constructed entirely of food-grade materials that withstand extreme heat.
Where can they buy more heat packs?
Additional heat packs are available at www.magiccook.com.
Can they use Magic Cook indoors?
No, Magic Cook Products are intended for outdoor usage.
Can they drink the water that they used to activate the heat pack?
No, despite the fact that the heat packs are non-toxic, people should avoid consuming the contents of activated heat packs.
What is the net worth of Sharon Yu?
Unknown.
