Quevos is a food and beverage startup company featured on season 12 of the Shark Tank reality TV show. Founded by Nick Hamburger and Zack Schreier, Quevos produces healthy, high-protein chips from egg whites.
The company, based in Chicago, Illinois, aims to offer a healthier alternative to traditional snack foods without compromising taste.
Each Quevos chip is rich in protein, containing 8g per serving, and is low in net carbs, offering just 4g per serving. The chips are also a good source of fiber, providing 3g per serving.
Quevos chips’ guilt-free composition is a key feature, making them a favorable snack option for health-conscious people or following specific dietary regimes. Quevos chips, including milk, coconuts, pea protein, avocado oil, chia seeds, and egg whites, are nutritionally balanced.
The brand offers a range of unique flavors such as Mesquite BBQ, Quevos Rancheros, Cheddar, Honey Mustard, Dill Pickle, and Sour Cream & Onion, ensuring a variety catering to a wide palette of tastes.
The chips have been well-received for their salty and crunchy texture, combined with a low-calorie count that makes them a standout in the snack food market.
Quevos gained significant exposure and investment after its Shark Tank appearance, securing a deal with Daniel Lubetzky, the founder of KIND Snacks.
The company has since seen a surge in sales and is now available in over 1500 stores nationwide, including Whole Foods, Wegman’s, The Vitamin Shoppe, and GNC, as well as online on Amazon and their website.
Quevos is a revolutionary snack brand with a novel approach to snack food. With its focus on providing a delicious, high-protein, low-carb snack full of flavor, it’s a smart choice for those seeking to balance taste with nutrition.
Quevos’ innovative and healthy snack alternatives are poised to disrupt the snack food market as it has since its Shark Tank debut.
|Entrepreneur||Nick Hamburger and Zach Schrier|
|Product||Egg-white snacks that are high in protein|
|Investment Asking For||$200,000 for 5% equity in Quevos|
|Final Deal||$200,000 for 10% equity in Quevos + $200,000 line of credit|
|Quevos Episode||Season 12, Episode 11|
|Quevos Business Status||In Business|
|Quevos Website||Visit Website|
What Is Quevos?
Quevos is an innovative snack company that was established with the primary aim of providing a diverse range of nutritious and tasty snack alternatives to the market. Zack Schreier and Nick Hamburger founded this innovative enterprise to revolutionize snack options by combining health, flavor, and convenience.
Quevos’ breakthrough offering consists of a delightful assortment of crunchy chips made from egg whites, a protein-rich ingredient that is an excellent alternative to traditional, less wholesome snack staples.
The cornerstone of Quevos’ appeal lies in its unique formulation that focuses on incorporating high-quality, natural ingredients such as avocado oil, chia seeds, and inulin, a prebiotic fiber derived from plants.
These components effectively contribute to the company’s objective of delivering a snack that is not only low in carbohydrates and high in fiber but also boasts a delectable taste.
The nutritious profile of these chips makes them suitable for a wide audience, including health-conscious individuals, fitness enthusiasts, and those adhering to varying dietary requirements.
Quevos continues to grow and expand its market presence while remaining dedicated to its founding principles. The company strives to provide consumers with healthy, flavorful, delicious snack options that perfectly balance a healthy and flavorful diet.
Who Is The Founder Of Quevos?
Quevos is founded by two young entrepreneurs, Nick Hamburger, and Zach Schrier. Both of them are impressively successful at the early age of 23, which has earned them recognition in the Forbes 30 Under 30 2022 list in the Food & Drink Industry.
Zach Schrier serves as the main driving force behind the company, while Nick Hamburger holds the position of CEO. The duo’s journey to starting Quevos is quite fascinating.
They saw a gap in the market for healthy snacks and were particularly interested in impacting the chips category, an industry segment that has garnered significant value globally.
The idea for Quevos was sparked by Zach, who has been living with Type 1 Diabetes since he was just 11 years old. Zach found it challenging to find snacks that were low in carbs and high in protein, which is what he needed to manage his condition.
Zach noticed they left a crispy residue when he cooked egg whites in a pan. This inspired him to explore creating a high-protein, low-carb chip from egg whites. Zach teamed up with Nick, and together, they developed Quevos, a brand of chips made from egg whites.
Before their appearance on Shark Tank, Quevos had already begun making a name for itself. The company was launched in 2018 and successfully raised $72,000 through a Kickstarter campaign.
Initially, the duo started selling their egg white chips in retail stores, and in 2020, they achieved $260,000 in sales. Their sales rate increased in 2021, with a total generation of $660,000.
Nick revealed they had raised $1.6 million in funding for the startup in 2021. He also mentioned that the company invested $20,000 monthly in online marketing, bringing in $90,000 in sales.
Quevos’ founders’ success did not stop there. They appeared on Shark Tank, seeking a $200,000 investment in exchange for a 5% equity stake in their company. The deal eventually made on the show was $200,000 for a 10% equity stake, plus a $200,000 line of credit, courtesy of Daniel Lubetzky.
How Was The Shark Tank Pitch Of Quevos?
Nick Hamburger and Zack Schreier, the founders of Quevos, appeared on Season 12, Episode 11 of the reality TV show Shark Tank. They came to the show with a clear goal: to secure an investment of $200,000 in exchange for a 5% stake in their company, valuing Quevos at $4000,000.
Quevos is a brand that makes healthy chips from egg whites. The unique selling point of Quevos chips is their high-protein and low-carb content, making them a more nutritious and satisfying alternative to conventional potato chips.
The business was already making significant strides before its appearance on Shark Tank, with a sales revenue of $260,000 in 2019 and $660,000 in the year they pitched, with a few months still to go.
During their pitch, Nick and Zack showcased their innovation and demonstrated their business acumen by successfully reducing manufacturing costs to achieve a $2.40 profit margin per bag.
This financial performance and the potential of their product sparked the interest of the sharks, particularly Daniel Lubetzky, the founder of KIND Bar.
Lubetzky, a guest shark on the show, saw the potential in Quevos and was intrigued by their unique offering in the snack industry.
Recognizing their growth potential and the demand for healthier snack alternatives, Lubetzky decided to invest. However, he proposed a counteroffer to the one initially presented by the Quevos team.
Instead of accepting their ask of $200,000 for 5% equity, Lubetzky offered $200,000 for a 10% stake in the company, effectively valuing the company at $2 million. In addition, he also offered a $200,000 line of credit to support the business’s growth and expansion.
The Quevos team accepted Lubetzky’s offer, marking a successful pitch and securing an investment that would help fuel their growth.
Since the Shark Tank appearance, Quevos has grown substantially, expanding from being available in 400 retail stores to over 1,500. Their sales also significantly jumped, from $1.3 million to $3.2 million within just eight months after the show.
In a subsequent update on Season 13, Lubetzky announced that he would invest an additional $1.35 million in the company, further affirming his faith in Quevos. This continued partnership bodes well for Quevos’ future, indicating even more growth and success in the pipeline.
What Happened To Quevos After Shark Tank?
Quevos experienced significant growth after its successful pitch on Shark Tank. The exposure from the show, combined with the investment and guidance from shark Daniel Lubetzky, propelled the company to new heights.
One of the most notable successes was expanding the company’s retail presence. Before appearing on Shark Tank, Quevos products were available in 400 retail stores.
After their appearance on the show, they expanded their distribution network to more than 1,500 stores. This means Quevos chips can now be found in popular stores such as GNC, Vitamin Shoppe, and Whole Foods, making them more accessible to consumers.
In terms of sales, Quevos also saw a significant increase. They had made $1.3 million in sales during their Shark Tank pitch. However, eight months after its Shark Tank appearance, sales soared to $3.2 million.
This indicates a rapid growth rate and a strong market acceptance of their product. Beyond sales and distribution, Quevos also benefited from additional financial support from their investor, Daniel Lubetzky.
After the initial Shark Tank deal, which saw Lubetzky invest $200,000 for a 10% stake and provide a $200,000 line of credit, Lubetzky announced during a Season 13 episode that he would be investing an additional $1.35 million in the company.
This additional investment speaks to the strong performance of Quevos and Lubetzky’s confidence in the brand’s potential. It will likely provide further resources for Quevos to continue its growth trajectory, expand its product line, or enter new markets.
Quevos has shown impressive growth and success since its appearance on Shark Tank. With continued support from their investor and a growing market for healthy snack alternatives, Quevos appears well-positioned for continued success.
Quevos Shark Tank Update
After appearing on Shark Tank, Quevos, a healthy chip business specializing in egg white-based chips, experienced significant developments and growth. Entrepreneurs Nick Hamburger and Zack Schreier, both 22 years old, secured a $400,000 investment on the show from Daniel Lubetzky, the creator of Kind Bars.
Lubetzky purchased a 10% stake in Quevos for $200,000 in cash and a $200,000 credit line. He also agreed to guide the young entrepreneurs. This investment allowed Quevos to expand its team and enhance retail distribution.
Following their appearance on Shark Tank, Quevos experienced a significant boost in sales, generating $500,000 within two weeks. With additional investments and growing popularity, Quevos reached over $2 million in sales by 2021 and expanded its presence to 1,500 stores nationwide, including major retailers like Whole Foods, GNC, and Vitamin Shoppe.
In 2022, Quevos received an additional $1.35 million investment from Daniel Lubetzky, doubling their sales to $2 million. The company’s founders, Hamburger and Schreier, dropped out of the University of Chicago to focus on Quevos full-time. They planned to raise a Series A round and were launching an “original” flavor, expecting it to become their top seller.
In terms of ownership, Quevos was later acquired by Joe Oblas, the former CEO of Stryve Foods. The acquisition details were not disclosed, but it was seen as an opportunity to grow the brand further.
Quevos maintained a strong position in the healthy snack industry, with a reported net worth of $2 million and positive customer reviews, receiving a rating of 4.8/5 stars on its website.
Quevos experienced significant success after appearing on Shark Tank. They received investments, expanded their retail presence, and achieved notable sales growth.
The acquisition by Joe Oblas presents a new opportunity for the brand’s continued development and growth in the healthy snack industry.
Is Quevos Still In Business?
Yes, Quevos is still in business as of 2023. The company has been growing steadily since appearing on Shark Tank in 2021, and they now have over $2 million in annual sales.
Quevos products are available in over 1,500 stores nationwide and are also expanding into Canada. In January 2023, Quevos was acquired by the former CEO of Stryve Foods, Joe Oblas. Terms of the sale were not disclosed.
Here are some of the company’s recent accomplishments:
- In 2021, Quevos made a whopping $2 million in sales.
- The company’s products are now available in over 1,500 stores nationwide, including Whole Foods, Wegman’s, The Vitamin Shoppe, and GNC.
- Quevos has also expanded into Canada.
- In January 2023, Quevos was acquired by the former CEO of Stryve Foods, Joe Oblas.
Quevos is a successful company that is continuing to grow. They have a unique product that is in high demand, and they are expanding their distribution network. I expect the company will continue to grow in the future.
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What Is the Net Worth Of Quevos?
Quevos’ valuation was $2 million after securing a deal from Daniel Lubtzky on Shark Tank. The estimated net worth of Quevos is more than $2 million. The company has raised over $3.6 million in seed funding, and its revenue has grown significantly in recent years.
In 2021, Quevos generated over $2 million in sales, and its products are now sold in over 1,500 stores nationwide. The company also expands into Canada and plans to launch new products soon.