After launching his own barbecue company influenced by a combination of Korean and Mexican cuisine, Jae Kim wanted to test his luck on the show “Shark Tank” to see if anyone would be ready to invest $600,000 in his barbecue company in exchange for 15% ownership.
To his good fortune, Barbara Corcoran decided to take the risk and invest $600,000 of her funds in exchange for a 20 percent equity stake in Chi’Lantro BBQ.
Since it’s been a few years since the episode originally aired, a Chi’Lantro update is long overdue, and we’ve got just the thing for you to tide you over.
What Is ChiLantro?
ChiLantro is a food truck and restaurant specializing in Korean BBQ and Mexican cuisine infused with other cultures.
On the Chilantro menu, you’ll find Korean fries, chicken wings fried in Korean style, tacos, and rice bowls seasoned with Asian flavors.
Chi’Lantro BBQ food trucks became a hit with customers after being established by Jae Kim of Austin, Texas, in 2010. With his dishes, he uses Mexican cilantro and Korean kimchi.
Kimchi Fries is his best-selling item. They’re caramelized kimchi fries, topped with cheese, onions, cilantro, and sriracha in addition to a magic sauce, and served with a side of magic sauce.
ChiLantro has been around for seven years and has several physical stores in Austin.
|Company Name||ChiLantro BBQ|
|Product / Business||Korean-Mexican fusion foods Food Truck and Restaurant|
|Investment Asking For||$600,000 for 15% equity in Chilantro|
|Final Deal||$600,000 for 20% equity in Chilantro|
|Episode||Season 8 Episode 8|
|Business Status||In Business|
Who Is The Founder Of ChiLantro?
Jae Kim is the founder of ChiLantro BBQ. An idea for something new and distinct sparked at the beginning of the trip.
Chi’lantro was founded by Jae Kim, who wanted to bring Korean BBQ to Texas’s tasteless and desolate plains, namely Austin, and thus the name.
He utilized all of his savings and credit cards, but the plan ultimately paid off since they were able to succeed.
Chi’Lantro began as a food truck, and today the company has expanded to include catering as a separate branch with three outlets: the classic menu, events, and the food truck. The food truck is still in operation.
Jae Kim intends to open another restaurant with the same fusion concept that she had previously to keep consumers on their toes.
ChiLantro Before Shark Tank
Jae Kim began his presentation by showing a video of himself auditioning. He stated that he was born and reared in South Korea.
When he was 11 years old, his mother decided to move him and his sister to the United States to start a new life.
He stated that Korean cuisine is his love, but after he graduated from college, he did not have the financial means to open a restaurant of his own.
Instead, Jae chose to establish his own food truck business. Chi’Lantro was successful enough to expand into three restaurants and a fleet of fruit trucks.
He believed Chi’lantro served Korean barbeque in a highly approachable style by the majority of the population.
He stated that he owed his entire existence to his mother. She sparked his desire to start his own business.
He’d tried out for Shark Tank around four years earlier but had been unsuccessful. After that, he applied a second time but was denied admission at that time as well.
Now, he was in charge of a fleet of food trucks and restaurants. He stated that this was a once-in-a-lifetime opportunity, and he did not want to miss out on it.
How Was The Shark Tank Pitch Of ChiLantro?
Jae appeared on Shark Tank seeking an investment of $600,000 in exchange for a 15 percent stake in Chilantro.
Barbara offered $600,000 in exchange for a 30 percent stake in Chilantro. Jae Kim counters with a 20% stake for $500,000, and Barbara accepts.
Final Deal: Barbara Corcoran agreed to invest $600,000 for 20% equity in Chi’Lantro.
What Happened To ChiLantro After Shark Tank?
As a result of the agreement between Barbara and Chilantro, the food truck’s expansion was indefinite. The Korean BBQ brand became well known throughout the country.
The CEO is thrilled to be in his present position, including eight restaurants and a fleet of food trucks. His loyal mentor Barbara has been an invaluable resource for him. He believes he is at the pinnacle of his abilities.
Chris Sacca has publicly expressed regret for failing to invest in Chi’lantro because the cuisine made him “fat and joyful.”
The business is self-sufficient through the selling of its products. The truck has appeared on numerous episodes hosted by Food and Wine and Food Network.
The Korean food truck arrived at the University of Texas in May 2017 and donated all of its earnings to the victims of a stabbing that had taken place earlier that month.
A new Chi’lantro location was announced in November 2017, bringing the total to six.
Sales were unknown before the shark tank pitch, but they increased to around $13-15 million after the pitch, an enormous difference.
The sales were conducted through restaurants, food trucks, and neighboring convenience stores.
Chilantro’s value increased from $3 million to $15 million in just three years. Between 2016 and 2021, revenue increased from $4.7 million to $15 million.
The original kimchi fries are the truck’s best seller. The kimchi fries are more than just fries.
You’ll find everything from handmade fries to kimchi caramelized with sesame seeds and Korean BBQ pork. You’ll find everything from handmade fries to Korean BBQ pork.
You can also order a Korean bowl, kimchi fries, and Korean fried chicken wings.
Food truck items are available at the events and classic menu items that should not be missed.
ChiLantro Shark Tank Update
Since she made a deal with the cast of Shark Tank, what has Kim been up to in the meantime? It seems that big things are happening.
As indicated by the latest estimates since Kim’s appearance on “Shark Tank,” Chi’lantro has reportedly made more than $9 million in sales.
Chi’lantro has just launched its 8th location, which took place recently in Austin, Texas. This is despite the ongoing epidemic.
We believe that Barbara’s investment has been quite successful because the company’s social media pages are still being kept up to date on time.
Chi’Lantro is a blend of Korean and Mexican cuisines, and the name is a play on the words “kimchi” and “cilantro.”
Chi’Lantro meats are marinated for 48 hours before grilling according to traditional family recipes.
Is ChiLantro Still In Business?
The Chi’Lantro BBQ empire envisioned by its founder is well on its way to being established, with projected revenue of over $5.5 million.
The company has expanded to include a fleet of great food trucks and eight brick-and-mortar outlets in the Austin area.
Although Jae didn’t get the Barbara Corcoran deal because he wasn’t interested, he credits the show with giving him a better appreciation for the restaurant business.
Chi’Lantro has temporarily closed some locations, but many others are open and ready to serve people in the Austin area.
You will need a debit or credit card to try out their services since cash is no longer accepted. You can also use Apple Pay or Samsung Pay for payment.
Jae disclosed his plans to franchise Chi’Lantro BBQ in an interview with QSR Magazine.
Chi’Lantro’s expansion is securing it a place among the hottest fast-food chains thanks to its expanding fan base of foodies and influencers.
What Is the Net Worth of Chi’Lantro?
The valuation of Chi’Lantro was $4 Million when it appeared on Shark Tank.
However, the net worth of Chi’Lantro is about $10 million as of 2022.