What Are Chirps Chips?
Chirps Chips is a company that sells products that contain milled cricket powder. For example, its tortilla chips contain both soy and grain ingredients and powder. Chirps chips are a line of high-protein snacks made from cricket flour. The other ingredients include corn, beans, and chia seeds.
According to the manufacturer, chirps contain three times as much protein as conventional potato chips. The Chirps website reports that cricket powder is an optimal source of fiber, amino acids, protein, and prebiotics. This product is gluten-free as well.
|Company Name||Chirps Chips|
|Entrepreneur||Laura D’Asaro and Rose Wang|
|Product / Business||Cricket chips with high levels of protein.|
|Investment Asking For||$100,000 for 7% equity in Chirps chips|
|Final Deal||$100,000 for 15% equity in Chirps chips|
|Episode||Season 8 Episode 14|
|Business Status||In Business|
Who Is The Founder Of Chirps Chips?
Laura D’Asaro, Rose Wang, and Meryl Natow are the founders of Chirps chips. When Laura and Rose were at Harvard University, they shared a dorm room. Laura studied business, and Rose studied psychology. Afterward, Laura attended Stanford University and received a Master of Business Administration.
There is no mention of the presence of Meryl Natow, another Harvard alum who is a partner in Six Foods’ parent company. Wang and her friends began preparing crickets from local pet stores after she and her friends had eaten fried scorpions in China.
Six Foods was founded as a result of their study to provide insect-based snacks to the people of the United States and beyond. Some Americans are enthusiastic about it (or at least the concept), as seen by the successful Kickstarter campaign that raised over $70,000 in 2014.
Six Foods’ Chirps Chips and Chirps Cookies are made with milled cricket flour. Crickets contain significant amounts of magnesium and all nine essential amino acids.
Cricket protein is also far more environmentally sustainable: one pound can be produced with just one gallon of water, while the same amount of protein can be made with about 2000 gallons of beef.
The most challenging aspect of the firm’s operations is persuading Americans to test its products. However, even though billions of people worldwide regularly consume various insects, the habit has yet to hold in the United States.
Currently, Chirps are selling for $6.99 on Six Foods’ website. The company also considers product variations based on crickets, such as bug burgers.
Chirps Chips Before Shark Tank
Laura and Rose lived together when they were at Harvard University. The two students studied abroad in different places for semesters, but when they returned, they had one thing in common: they had eaten insects.
These two young women were interested in insect nutrition after discovering it. Their research revealed that it is prevalent in other cultures. It is also one of the most sustainable sources of protein.
Chirps is based on crickets and is marketed as a snack chip. They were successful in raising $200,000 through a series of pitch competitions. Chirps are available in various flavors, including barbecue, sea salt, cheddar, and Chocolate Chirps, including a cricket mix.
Two Harvard graduates founded chirps to “enthuse Americans about eating bugs.” Despite the sharks’ lack of excitement initially, Barbara Corcoran wasn’t too keen on how the fish smelled.
While the other sharks felt that one cricket per chip was insufficient, the others believed one cricket per chip was enough. However, after the two former roommates began talking about money, the sharks started to change their tune.
The company’s research predicted that sales would reach approximately $200,000 per month by the end of the year. Chirps were also expected to generate $1.5 million in revenue by the end of the current fiscal year.
How Was The Shark Tank Pitch Of Chirps Chips?
Laura and Rose appeared on Shark Tank requesting an investment of $100,000 in exchange for a 7% stake in Chirps Chips.
Final Deal: Mark Cuban agreed to invest $100,000 for 15% equity in Chirps Chips.
What Happened To Chirps Chips After Shark Tank?
Chirps have developed several additional products since their appearance on Shark Tank, such as cupcakes, cookies, and cricket protein powder. Most of their products have received a 5-star rating on their business Facebook page.
Chirps Chips has extended into several popular retailers, such as 7-11 convenience stores and museums. Rose and Laura have also redesigned the package.
Many must-have lists included their products and have been featured on news networks and websites due to their efforts. The agreement with Mark Cuban was the most pleasing thing that could have happened for this buggy business.
Chirps Chips Shark Tank Update
After signing a deal with Mark Cuban, Chirps Chips gained significant publicity because of his assistance. This exposure created an impression of excellent sales; along the way, they even tried some new experiments by introducing new items. This exposure left an imprint.
The protein shake is offered in three delicious and unique flavors, and all of the products include the same amount of beneficial proteins and essential elements in the same proportions. Vanilla and chocolate are the available flavors.
Chirps chips have expanded its product line since signing the agreement with Mark, adding cupcakes, cookie mixes, and cricket protein powder.
Chirps Chips is still in business as of 2022. They went so far as to write a children’s book! Chirps Chips’ annual revenue is around $1 million.
Are Chirps Chips Still In Business?
Chirps Chips are striving for even greater success in terms of sales by introducing new products, which may seem an easy task, but it appears that promoting public awareness will be a crucial part of the company’s success.
Chirps Chips received tremendous publicity due to its partnership with Mark Cuban, which was a fantastic arrangement. They saw a spike in sales due to this exposure and tried new ideas along the way, such as launching new items.
Also, let’s look at the new products that have been presented. The protein shake is available in three delicious flavors, including the same high-quality proteins and essential nutrients. Vanilla and chocolate are the flavors available.
Chirps Chips are well-known for their unique yet delectable flavor profile. You can already buy it on their site, e-commerce giant Amazon, and various retailers. They have expanded their operations to include 48 states in the United States.
Moreover, if we look at the valuation of Chirps Chips, we can observe that their value has increased from 0.6 million to $1.4 million as of 2022.
What Is the Net Worth Of Chirps Chips?
The valuation of Chirps Chips was $1.4 million when it appeared on Shark Tank. The net worth of Chirps Chips is $1 million as of 2022.