On Monday night's 'Shark Tank,' Cupbop asked for $1 million for a 3 percent stake. The sharks thought Cupbop’s offer was as bold as the food — but the company still walked away with a sweet deal with Mark Cuban.
Jung Song and Dok Kwon pitch their Utah company, Cupbop, on ABC's reality show "Shark Tank." The episode is scheduled to air Monday, May 2, 2022.Jung Song’s pitch was straightforward: “We are super energetic. And a little bit crazy!”, appealed to the panel of investors on ABC’s “Shark Tank” Monday night.
Kwon, who in his earlier life was a hedge fund investor, told the panel he was Song’s first customer, back when Cupbop had one food truck that parked at Gallivan Center once a week.“I’m Korean, and just fell in love with the product,” Kwon said. “I moved to New York, did my seven or eight years there, and I just wanted something different.”“He said, if you don’t hire me right now, you’re gonna regret it,” Song laughed.
O’Leary — who, according to Greitner, is a tough judge of food vendors — said, “we’ve had a lot of food concepts on ‘Shark Tank.’ I have to give it you: This is one of the best I’ve ever tried.” Greitner was impressed that Cupbop’s biggest growth came during the pandemic, when restaurants were going out of business left and right. Kwon explained that delivery and take-out carried them through.
“It’s really the growth rate,” Kwon said. “It took us seven years to get to $10 million. We have 10 more stores coming before the end of the year.”
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