Pipcorn or Pipsnacks is a unique and growing snack food company that has recently made a splash on the popular television series Shark Tank.
Pipcorn has become one of the most popular gourmet popcorn brands available on the market. The company offers traditional popcorn and mini-sized versions, known as “pipsqueaks.”
Pipcorn’s mission is to provide an alternative to unhealthy snacks by creating small-batch snacks that are healthy and delicious. Pipcorn’s products are non-GMO, gluten-free, vegan, and free from artificial ingredients.
In addition to its signature pipsqueaks, the company offers additional popcorn flavors such as Truffle Sea Salt, White Cheddar Cheese, Rosemary Parmesan Garlic, and Cinnamon Toast.
What Are Pipcorn/Pipsnacks?
Pipcorn/PipSnacks is a low-fat substitute for regular popcorn. Pipcorn is a line of organic mini popcorn made from small kernels.
Pipcorn was conceived during a residential move when a bag of tiny heirloom popcorn kernels became the preferred snack.
Pipcorn has since developed into a delectable product naturally packed with fiber, vitamins, and antioxidants that the conventional movie, microwave, and kettle-popped popcorn lack.
|Founder||Jeff Martin And Jennifer Martin|
|Business||Mini popcorn snacks made with heirloom kernels|
|Investment Seeking||$200,000 For 10% equity in Pipsnacks|
|Final Deal||$200,000 For 10% + Equal Draw in Pipsnacks|
|Episode||Season 6 Episode 9|
|Business Status||In Business|
Who Is The Founder Of Pipcorn/Pipsnacks?
Pipcorn/Pipsnacks and its signature product PipCorn was developed by Jeff Martin and Jen Martin of New York City and was pitched on Shark Tank in November 2014.
Pipcorn/Pipsnacks Before Shark Tank
Pipcorn/Pipsnacks is a company that develops and sells a novel and enjoyable method of eating popcorn.
Pipcorn was created by Jen Martin, her brother Jeff, and her sister-in-law Teresa Martin (Jeff’s wife).
Pipcorn/Pipsnacks is a company dedicated to bringing heirloom popcorn to the forefront. They were so impressed with the popcorn they ate during the move that they found the Indiana farmer who grew it and eventually found it.
The product’s developers, Jen and Jeff, are brothers and sisters living in Brooklyn, New York.
They now sell a variety of flavors of Pipcorn and other derivative items.
Pipcorn/Pipsnacks was founded in 2012 by Jen Martin, one of its co-founders. She founded the company to promote healthy living, incorporate healthy eating into her daily routine, and diversify her food options to incorporate natural items into her diet.
Jeff and Teresa, her brother and sister-in-law, are co-founders of Pipcorn and Pipcorn/Pipsnacks, and their skills as business analysts contributed to the company’s success.
How Was The Shark Tank Pitch Of Pipcorn/Pipsnacks?
Jeff and Jennifer appeared on Shark Tank requesting an investment of $200,000 in exchange for a 10% stake in Pipcorn/Pipsnacks.
Mark Cuban did not make any offer. Barbara Corcoran says that they are overreaching and believes they are winning.
She offers to buy them a 10% share of the deal for $200,000, with the condition that they draw a similar number.
Kevin O’Leary is saying it because there is nothing proprietary about the Seed. Would anyone who wants to work for him come and work for him?
Kevin says they will not get $200,000 for ten percent from anybody. Kevin is out.
Lori Greiner did not offer any investment.
Robert Herjavec offers the team $200,000 for a 20% stake in PipCorn, but they say that is too low for them, and they accept their offer less than the original offer.
Robert thinks it is ridiculous that they are overvaluing, but he thinks they are killing it, and he offers to match Barbara’s offer without the need for a draw.
Jeff and Jen decide to go with Barbara’s offer, and they have a deal.
Final Deal: Barbara Corcoran agreed to invest $200,000 for a 10% stake in PipCorn/PipSnacks plus a 10% draw every time Jeff and Jen withdraw cash until she recoups her investment.
Pipcorn/Pipsnacks Shark Tank Update
The popularity and sales of Pipcorn/Pipsnacks after their appearance on Shark Tank. The sales of Pipcorn/Pipsnacks reached $1.1 million within a month of the agreement with Barbara.
They received so many orders that they could not fulfill every order on time.
Jeffrey, Jen, and Barbara viewed it as a positive instead of a negative. They offered discounts to those who waited for the longest and free shipping on subsequent orders to those who waited for the longest.
Pipcorn/Pipsnacks switched to digital sales and is still highly successful as of 2023 and generates $5 million in annual sales.
Are Pipcorn/Pipsnacks Still In Business?
Pipcorn/Pipsnacks enjoyed a spike in sales after Barbra invested $200,000, which made the inventors sing pip-pip-hooray.
Pipcorn had revenues of $400,000 before it joined the Tank, but it has grown to an astounding $3 million in total sales since joining.
However, despite Mr. O’Leary’s concerns that the company could not exist without an exclusive arrangement with their unique corn farmer, they ultimately achieved a complete exclusivity agreement due to their special sales.
These phenomenal sales have also resulted in phenomenal publicity. Pipcorn/Pipsnacks has been featured on several major television shows following its appearance on Shark Tank, including Good Morning America and Dr. Oz.
Pipcorn/Pipsnacks, according to GMA, are “delicately seasoned” and a delectable delicacy. Pipcorn/Pipsnacks has also expanded in a variety of directions.
Pipcorn/Pipsnacks was available in 40 stores before appearing on Shark Tank, including 18 Whole Foods stores; currently, the product is available in more than 150 Whole Foods stores and numerous other grocery chains, including Wegmans Safeway and The Fresh Market.
Both entrepreneurs feel as if they’ve built a fully-fledged business. The company was formed with three employees when it joined the Tank but has grown to over 40 employees and is very proud to have created jobs in the community.
Jen and Jeff have gushed about Barbra’s ideal partner for Pipsnack.
She is known for her willingness to go above and beyond to help whenever needed, especially since her real estate headquarters are only a few miles from Pipsnack’s headquarters in Brooklyn, New York.
The Pipcorn/Pipsnacks family believes they will continue to thrive if they have a partner like Barbra.
What Is the Net Worth of Pipcorn/Pipsnacks?
The valuation of Pipcorn/Pipsnacks was $2 million when they appeared on Shark Tank. The net worth of Pipcorn/Pipsnacks is $10 million as of 2023.