Cupbop Shark Tank Update

If you’re on the hunt for delicious and unique Korean-style dishes, look no further than Cupbop. This innovative fast-casual dining concept brings the flavors of Korea to your table in a fun and engaging way.

With a menu that boasts a variety of options, Cupbop is not just about food; it’s about creating an experience that celebrates Korean culture and cuisine.

What is Cupbop?

Cupbop is a Korean barbecue in a cup, offering a convenient and tasty alternative to traditional dining.

Founded by passionate entrepreneurs, Cupbop has quickly gained popularity, especially among those seeking quick, flavorful meals on the go. Their motto? “Pick your protein & spicy level, mix the bowl (shake, shake!), and enjoy!”

The Menu

At Cupbop, the menu is designed to cater to every palate. Customers can choose from a variety of proteins, including:

• Beef
• Pork
• Chicken
• Hot Spicy Pork
• Vegetarian options

Along with the protein choice, you can select your desired spicy level, ranging from mild to fiery. Each bowl is a delightful mix of flavors, textures, and colors.

Signature Dishes

One of the standout dishes at Cupbop is the Chapchae, made with sweet potato noodles. This dish is typically accompanied by a mix of beef and hot spicy pork, topped with fresh vegetables and a spicy sauce that adds an extra kick. The blend of flavors is sure to excite your taste buds.

Customer Experience

Cupbop prides itself on creating a vibrant atmosphere that goes beyond food. The staff is known for their energetic service, often engaging customers with high-fives and even dance moves. This lively environment reflects the essence of Korean culture, where food is often enjoyed in a cheerful, communal setting.

Growth and Popularity

Since its inception, Cupbop has experienced tremendous growth. The company was featured on Shark Tank, which significantly boosted its visibility and popularity.

During their pitch, they highlighted impressive sales figures, reporting system-wide sales of $18.7 million over the past year.

This success can be attributed to their ability to adapt to market needs, especially during challenging times like the COVID-19 pandemic, when they shifted focus to takeout and delivery services.

Innovative Business Model

Cupbop operates primarily through brick-and-mortar stores but started as a food truck. The trucks now serve as marketing tools rather than primary sales channels.

With 27 locations currently in operation and plans for expansion, Cupbop is on track to become a household name in American fast-casual dining.

The Cupbop Culture

At Cupbop, food is just part of the experience. The founders emphasize the importance of creating a fun atmosphere where guests feel welcome.

They aim to be the first national Korean brand in the U.S., showcasing the vibrancy of Korean cuisine. Their commitment to entertaining customers while delivering delicious meals sets them apart from other dining establishments.

Community Engagement

Cupbop also engages with its community through catering services for events, offering both individual bowls and buffet-style setups. This flexible catering option makes it easy for people to enjoy Cupbop’s unique flavors at their gatherings.

Cupbop’s Moment on Shark Tank: A Game-Changing Experience

Cupbop’s appearance on Shark Tank marked a pivotal moment in its journey, showcasing not only its delicious offerings but also the entrepreneurial spirit behind the brand.

The founders, Junghun Song and Dok Kwon brought their energy and passion to the stage, captivating both the Sharks and the audience with their story.

The Pitch

As the duo introduced themselves, they described Cupbop as Korean barbecue in a cup, a concept that perfectly caters to the fast-casual dining trend.

Their presentation was lively and engaging, highlighting the unique selling points of their business. They emphasized their mission to bring Korean cuisine into the mainstream food scene in America, particularly as K-drama and K-pop continue to rise in popularity.

Impressive Sales Figures

During their pitch, Cupbop revealed impressive sales numbers that caught the attention of the Sharks.

With trailing twelve-month system-wide sales of $18.7 million, the founders demonstrated that they had a viable and growing business model.

This financial success was particularly remarkable considering that they had started from a food truck and expanded to 27 brick-and-mortar locations.

The Sharks’ Reaction

The Sharks were quick to recognize the potential of Cupbop. They praised the product’s taste and the innovative approach to serving Korean food in a convenient format.

The feedback from the Sharks was overwhelmingly positive, with one Shark even stating it was one of the best food concepts they had ever tried on the show.

Negotiation Dynamics

The negotiation process was intense, with several Sharks expressing interest in investing. Junghun Song and Dok Kwon sought $1 million for 3% equity, valuing their company at approximately $33 million.

The Sharks debated the valuation, with some suggesting it was too high given the current state of the business.

Mark Cuban, one of the Sharks, offered a loan of $1 million with a 10% interest rate in exchange for 3% equity. Another Shark proposed a 5% equity deal, highlighting their experience in scaling businesses.

The negotiations showcased the Sharks’ business acumen as they evaluated the growth potential of Cupbop while also considering their investment strategies.

The Outcome

Ultimately, Junghun Song and Dok Kwon accepted an offer from Mark Cuban and Barbara Corcoran for a loan of $1 million for 5% equity.

This deal not only provided them with essential capital but also gave them access to valuable resources and mentorship from two seasoned entrepreneurs.

The partnership with the Sharks was seen as a significant milestone for Cupbop. It validated their concept and opened doors for growth and expansion.

The exposure from Shark Tank helped elevate Cupbop’s brand recognition, attracting new customers eager to try their unique offerings.

Impact on the Brand

Following their appearance on Shark Tank, Cupbop experienced a surge in interest and sales. The episode showcased not only their delicious food but also their engaging customer experience—a combination that resonates with today’s consumers.

This moment solidified Cupbop’s position as a rising star in the fast-casual dining scene, making Korean cuisine accessible and enjoyable for everyone.

Cupbop’s pitch on Shark Tank was more than just an opportunity for funding; it was a chance to share their passion for Korean food with a broader audience. The combination of a strong product, impressive sales figures, and dynamic presentation made it a memorable episode.

As Cupbop continues to grow and expand, it remains committed to delivering an exceptional dining experience that brings people together through the love of Korean cuisine.

Final Deal: Cupbob secured an investment of $1 million for 5% equity in the company from Mark Cuban on Shark Tank.

What Happened To Cupbop After Shark Tank?

Following their successful pitch on Shark Tank, Cupbop, the Korean BBQ-in-a-cup enterprise, has seen continued growth and development. The founders, Dok Kwon, a former investment banker, and Jung Song, a former break dancer, joined forces to expand the fast-food concept that began as a food truck business in New York.

After their Shark Tank appearance, Cupbop was reported to have opened nine brick-and-mortar stores, adding to their previous count of 27 locations. This expansion indicates that the business has maintained a positive trajectory since the show.

Additionally, their presence has increased internationally, with numerous stores in six U.S. states – Utah, Idaho, Arizona, Colorado, Nevada, and Oklahoma, and over 100 locations in Indonesia.

Despite the ambitious goal of overtaking Panda Express, a significant player with more than 2,300 locations, Cupbop has kept expanding and attracting new customers. The concept of Korean BBQ served in a cup, with options for customization of protein and spice levels, has attracted a loyal customer base.

Interestingly, the company’s marketing strategy has involved dance, carrying forward co-founder Jung Song’s background as a break dancer. This unique approach, coupled with their authentic Korean BBQ, has created an appealing brand identity.

As for the Shark Tank deal with Mark Cuban, it’s reported that there might not be substantial evidence of it being officially closed. Yet, the potential collaboration, coupled with Cuban’s expertise, could help elevate Cupbop to a national platform, thereby increasing the company’s visibility.

According to Cupbop’s Facebook page, new locations open every few months. For instance, their newest location was opened in Lehi, Utah, offering exciting incentives such as a chance to win “free Cupbop for a year,” Cupbop swag, and Korean corn dogs. 

Since its appearance on Shark Tank, Cupbop has continued to thrive and expand, working towards becoming a leading player in the quick-service restaurant market.

Cupbop Shark Tank Update

After appearing on “Shark Tank,” Cupbop, a Korean barbecue company, experienced significant growth and success. Here’s what happened to Cupbop after their appearance on the show:

Cupbop, founded by Jung Song and Dok Kwon, started as a food truck in 2013. Since then, it has expanded its operations and operates 36 locations across six U.S. states and over 100 locations in Indonesia. The company’s business model focuses on selling $8 to $10 bowls of Korean barbecue.

On the episode of “Shark Tank,” Cupbop secured a $1 million investment deal with Mark Cuban. The Sharks on the show were eager to invest, with several offers made by Kevin O’Leary, Barbara Corcoran, Robert Herjavec, Lori Greiner, and Mark Cuban. Ultimately, Mark Cuban offered $1 million for 5% equity, citing his ability to provide marketing and national presence for the brand.

Following the “Shark Tank” appearance, Cupbop continued its expansion plans. The company opened new locations, including one in Lehi, Utah, which held a grand opening event with special promotions.

Cupbop remains dedicated to becoming a prominent Asian quick-service restaurant and expanding its presence in the United States and internationally. Cupbop’s revenue has been impressive, with reports of generating $18.7 million in 12 months and $25 million in sales overall.

Cupbop has seen a boost in sales during the pandemic, and its focus on takeout and delivery has contributed to a 9% increase in same-store sales. With a valuation of approximately $10 million, Cupbop remains in business and continues to experience rapid expansion.

Cupbop has a strong presence on social media and local events, attracting domestic and international interest. Customers can order online or visit their food trucks.

Cupbop has achieved significant growth and success since its appearance on “Shark Tank.” The company has expanded its number of locations, increased its revenue, and remains focused on its domestic and international expansion plans.

Is Cupbop Still In Business?

According to our research, Cupbop is still in business as of 2023. Cupbop, a Korean barbecue concept, has experienced significant growth and continues to expand its operations.

They currently have multiple locations in the United States and international franchisees in Indonesia. Cupbop offers delicious Korean barbecue-style street food in bowls with various protein and vegetable options.

Since appearing on “Shark Tank,” Cupbop has opened new stores and increased its store count. They currently have 36 permanent stores across multiple U.S. states. The company has expanded its presence in the U.S. and internationally, with over 100 locations in Indonesia.

Cupbop’s growth and success are evident in its revenue and valuation. They have generated significant sales, with reports of $18.7 million in 12 months and a net worth of approximately $10 million.

Cupbop’s energetic marketing approach and focus on high-quality products have contributed to its continued growth and success in the fast-casual restaurant industry.

Customers can enjoy Cupbop’s offerings through various services, including delivery, pickup, and catering. The company also offers a gift card feature and continues to open new stores domestically and internationally, aiming for further expansion.

Cupbop is still in business and has achieved significant growth and success since its appearance on “Shark Tank.” They continue to operate multiple locations in the United States and international franchisees in Indonesia, offering delicious Korean barbecue-style street food.

Cupbop’s expansion plans remain on track, and the company’s revenue and valuation reflect its continued growth and success in the fast-casual restaurant industry.

According to our research, the net worth of Cupbob is estimated to be $67 million. The valuation of Cupbob was $33 million when it appeared on Shark Tank.