JicaFoods Shark Tank Update | JicaFoods Net Worth

JicaFoods is a company that appeared on episode 10 of season 14 of Shark Tank. They created a healthy alternative to traditional taco tortillas called JicaWraps. These taco wraps are made from jicama, a root vegetable that is high in vitamins, minerals, and fiber.

JicaWraps have a fraction of the calories and carbs compared to traditional tortillas, making them a nutritious choice for those who want to enjoy tacos without worrying about their waistline.

The founders of JicaFoods, Xin Wang and Melissa Colella-Wang, came up with the idea for JicaWraps while trying to live healthier lives. They experimented with different vegetables and discovered jicama during a vacation in Mexico.

Impressed by its nutritional benefits, they decided to create a snack using jicama. Initially, they started with jicama snack chips called JicaChips but faced tough competition and financial challenges.

Xin and Melissa realized the potential of jicama as a healthy taco wrap alternative and launched JicaWraps. These wraps are made from thin slices of fried jicama, providing a crisp and refreshing texture while being super low in calories and carbs.

Compared to a traditional tortilla that contains 100 calories and 15 carbs, a JicaWrap has only 8 calories and 1 carb.

JicaFoods’ success on Shark Tank and its growing sales demonstrate the appeal of JicaWraps. They have experienced significant growth, reaching $4 million in sales in 2020 and projecting $6 million in sales for 2022.

The JicaWraps brand is available in over 700 stores across the country, including Whole Foods and Sprouts. JicaWraps combines the nutritional benefits of lettuce wraps with the functionality of traditional tortillas.

They offer a healthier option for taco lovers who want to enjoy their favorite food without compromising on taste or their dietary goals. With their low-calorie, low-carb, and high-fiber content, JicaWraps cater to the increasing demand for grain-free and wellness-oriented products.

JicaFoods’ JicaWraps are a nutritious and delicious alternative to traditional taco tortillas. Made from jicama, these low-calorie, low-carb taco wraps provide a crisp and refreshing texture while offering the nutritional benefits of a lettuce wrap. With their growing sales and presence in various retailers, JicaFoods has carved a niche in the market as a go-to choice for those seeking healthier options when it comes to enjoying tacos.

Company NameJica Foods
FounderMelissa Colella-Wang and Xin Wang
ProductDelicious dishes made with jicama
Investment Seeking$300,000 for a 3% equity
Final Deal Accepted$300,000 for 6% equity + 3% advisory shares
Shark NameBarbara Corcoran
EpisodeSeason 14, Episode 10
Business StatusIn Business
WebsiteVisit Website
Net Worth$5 million

What Is JicaFoods?

JicaFoods is a company that specializes in providing healthy and nutritious food options. They prioritize using high-quality ingredients and innovative cooking techniques to create meals that are both delicious and nourishing.

JicaFoods aims to offer convenience without compromising on taste or nutritional value.

Their menu consists of a wide range of options, including vegetarian and vegan dishes, gluten-free alternatives, and meals for specific dietary needs. They source their ingredients from local and sustainable suppliers whenever possible, ensuring freshness and supporting the community.

JicaFoods Shark Tank Update | JicaFoods Net Worth

JicaFoods also promotes food education and awareness by offering cooking classes, workshops, and online resources. They believe that understanding the importance of nutrition and how to prepare wholesome meals is essential for maintaining a healthy lifestyle.

With a focus on customer satisfaction, JicaFoods strives to provide exceptional service and a pleasant dining experience. They value feedback and continuously adapt their offerings based on customer preferences and dietary trends.

JicaFoods is dedicated to promoting healthy eating habits, providing nutritious food options, and empowering individuals to make informed choices about their diet.

Who Is The Founder Of JicaFoods?

JicaFoods was founded in 2015 by Melissa Colella-Wang and Xin Wang, a husband and wife team. Melissa and Xin were motivated to create JicaFoods after realizing that snacking had become a challenge for them.

They began experimenting with making their vegetable-based snacks and discovered jícama while on vacation in Mexico.

Jícama, a round tuberous root vegetable native to Central and South America, caught their attention. With its thin, brown skin and white, crunchy flesh that has a slightly sweet and starchy flavor, jícama is a versatile and nutritious ingredient.

It is a good source of fiber and contains various vitamins and minerals like vitamin C, potassium, and iron.

Jícama is commonly used in traditional dishes in Central and South America and has gained popularity worldwide as a low-calorie, low-fat alternative to starchy vegetables like potatoes. Its slightly sweet flavor also makes it suitable as a natural sweetener in recipes.

Before appearing on Shark Tank, JicaFoods developed two main products: JicaWraps and JicaSticks. JicaWraps are thinly sliced sheets of jícama baked with a light coating of olive oil.

They serve as an excellent alternative to flour tortilla wraps and are keto, paleo, gluten-free, non-GMO, and only 15 calories with 3 grams of carbs per serving. JicaWraps are perfect for tacos, lettuce wraps, or any dish where tortillas are commonly used.

JicaSticks are french fry-shaped cuts of fresh jícama. They can be enjoyed as snacks right out of the package, dipped in hummus or guacamole, or even fried.

JicaSticks contain 45 calories per serving and provide 6 grams of prebiotic fiber with zero added sugar. They are available in Plain, Chili Lime, and Cilantro flavors.

Before their appearance on Shark Tank, JicaFoods experienced substantial growth. The company’s products were available in Whole Foods and Sprouts Farmers’ Market, with sales exceeding $1 million in 2019, over $4 million in 2020, and reaching $5 million in 2021. Each unit costs approximately $1.85 to produce and retail at around $3.

JicaFoods has experienced consistent sales growth since its inception and continues to expand its market presence through partnerships with major retailers and strategic initiatives.

How Was The Shark Tank Pitch Of JicaFoods?

The founders of JicaFoods, Xin Wang and Melissa Colella-Wang, appeared on Shark Tank Season 14 to pitch their company. They were seeking an investment of $300,000 for 3% equity in their juice-based foods.

During the presentation, Xin explained that after initially launching JicaFoods with a salty snack potato chip, they had a hard time competing with established chip brands.

JicaFoods Shark Tank Update | JicaFoods Net Worth

As a result, they transitioned to focusing on nutritious and low-calorie taco wraps called Jica Wraps.

The entrepreneurs shared their impressive revenue growth, stating that in 2019, they generated over $1 million in sales, which increased to over $4 million in 2020 and reached $5 million in 2021.

Barbara Corcoran was the only Shark interested in making an offer. She offered $300,000 for 10% equity. Kevin O’Leary also expressed interest and offered $300,000 for 9%.

However, Mark Cuban and Lori Greiner decided not to make offers.

After some negotiation, Xin and Melissa accepted Barbara’s deal of $300,000 for 6% equity and 3% advisory shares. This partnership with Barbara is expected to provide more marketing momentum and open doors for JicaFoods in the future.

Below is a table summarizing the Shark’s names, their investment offers, the counteroffer by the founders, and the final deal accepted by the founders:

Shark’s NameInvestment OfferedCounter Offer by FoundersFinal Deal Accepted by Founders
Barbara Corcoran$300,000 for 10%$300,000 for 6% + 3%Yes
Kevin O’Leary$300,000 for 9%Not mentionedNo
Mark CubanNo offerNot mentionedNo
Lori GreinerNo offerNot mentionedNo

JicaFoods successfully secured a deal with Barbara Corcoran on Shark Tank Season 14. They received an investment of $300,000 for 6% equity and 3% advisory shares. This partnership is expected to enhance JicaFoods’ future growth and expansion plans.

Did JicaFoods Get a Deal on Shark Tank?

Yes, Jica Foods did get a deal on Shark Tank. Melissa Colella-Wang and Xin Wang, the co-founders of Jica Foods, appeared on Shark Tank in Season 14 Episode 10. They pitched their jicama-based snack business to the sharks, asking for $300,000 for a 3% equity.

Barbara Corcoran made an offer of $300,000 for a 6% equity plus 3% advisory shares. After some negotiation, the founders accepted Barbara’s offer. This successful deal on Shark Tank has helped Jica Foods to grow and expand its sales.

Also read, Kudos Shark Tank Update | Kudos Net Worth

What Happened To JicaFoods After Shark Tank?

After appearing on Shark Tank, JicaFoods experienced significant exposure and investment. The founders, Xin Wang and Melissa Colella-Wang pitched their health-focused vision to the Sharks and ultimately struck a deal with Barbara Corcoran.

The deal offered $300,000 for 6% equity and 3% advisory shares, resulting in a final valuation of $3,333,333.

Since then, JicaFoods has continued to grow and expand its product range. The company’s signature offerings, JicaWraps and JicaSticks, are derived from the versatile jicama root.

JicaFoods Shark Tank Update | JicaFoods Net Worth

These products cater to various dietary preferences, such as keto, paleo, vegan, and gluten-free diets. JicaWraps are positioned as low-calorie alternatives for tacos, while JicaSticks are crunchy, guilt-free snacks.

JicaFoods has emphasized the health benefits of its products, which align with current health food trends. The wraps are made solely from jicama, providing important minerals, vitamins (including vitamin C), antioxidants, and high fiber content. They support a healthy lifestyle by aiding in weight management and overall well-being.

The company’s success after Shark Tank is evident in its net worth, which currently stands at $5 million. JicaFoods has also achieved an annual turnover of approximately $1 million, demonstrating its profitability and growth in the market.

JicaFoods’ appearance on Shark Tank brought significant exposure and investment to the company. With a focus on health-focused snacking options and a range of nutritious products made from jicama, JicaFoods has continued to thrive and expand its business in the snack food industry.

Also read, VoChill Shark Tank Update | VoChill Net Worth

JicaFoods Shark Tank Update

After appearing on Shark Tank, JicaFoods experienced a significant boost in their business. The exposure on national television led to a surge in sales and increased brand recognition.

The founders, Xin and Melissa Colella-Wang were able to secure a deal with Barbara Corcoran, which provided them with the necessary funding and expertise to grow their company further.

As a result of their appearance on Shark Tank, JicaFoods gained numerous distribution deals and expanded their presence to over 1,600 stores in the Southwest of America.

They are also continuing to sell directly to consumers. Their products can be found in selected locations at popular retailers such as Walmart, Whole Foods, Wegmans, and Sprouts.

The company’s online presence has also grown significantly. They have a website, JicaFoods.com, where they showcase recipes and provide information about their store locations.

Additionally, JicaFoods has amassed 8,000 followers on Instagram and has received mostly positive reviews for their healthy snacks.

With the success they achieved after appearing on Shark Tank, JicaFoods is currently valued at $5 million. However, it’s important to note that this valuation may change due to the “Shark Tank effect,” which often leads to further growth and increased investor interest.

The exposure and funding from Shark Tank propelled JicaFoods’ business forward, allowing them to expand their reach, increase sales, and establish themselves as a prominent player in the healthy snack industry.

Also read, Long Table Shark Tank Net Worth

Is JicaFoods Still In Business?

Yes, JicaFoods is still in business as of January 2023. Founded in 2015 by Melissa Colella-Wang and Xin Wang, JicaFoods offers a variety of snacks made from the nutrient-dense Jicama vegetable.

Known for its low-calorie, high-fiber, and high water content, Jicama Foods is popular among native Mexicans and health-conscious individuals. The company has expanded its presence and products, with availability in 177 Walmart stores, 234 Sprouts stores, and 78 Whole Foods stores.

JicaFoods Shark Tank Update | JicaFoods Net Worth

JicaFoods’ annual revenue is estimated at $1 million, and its sales have been steadily increasing, reaching $6 million by 2024. With their manufacturing facility now in place, the company aims to boost profitability further.

JicaFoods is in business and remains committed to providing healthy and delicious Jicama-based delights to its customers.

What Is the Net Worth Of JicaFoods?

According to our research, JicaFoods’ net worth is estimated at $5 million. The valuation of JicaFoods was $3.33 million after securing an investment from Barbara Corcoran on Shark Tank season 14.

5/5 - (2 votes)
2 Shares: