Cupbop Shark Tank Update

The Latest: Cupbop Shark Tank Update 2023 

In May 2022, when Cupbop appeared at Shark Tank, they were already in business for more than eight years with 27 physical outlets. The Cupbop owner and hedge fund investor, Junghun Song and Dok Kwon, teamed up and came to Shark Tank Se. 13 Ep. 21 seeking investment for business expansion. 

This duo asked for $1 million in exchange for 3% of the equity share. Their given company valuation was $33.3 million, with a predicted running year sales of $18.7 million. Every Shark was interested, and finally, Cuban closed the deal for $1 million and 5% of the share. However, his investment is still not showing on his investment profile. 

This investment promise was a real motivation for the business. Here, we explore Cupbop Shark Tank Update 2023, how the business is doing now, and its future potential. So, let’s check them out! 

Cupbop Shark Tank Business Profile 

The following is an at-a-glance view of Cupbop’s whole business profile in terms of before appearing on Shark Tank. It also shows Cupbop update after Shark Tank. 

Company Name Cupbop 
Founder Junghun Song 
Founded 2015 
Product Korean BBQ items 
Other Products Combo Bop 
Rock Bop 
B Bop 
Kko Kko Bop 
The Current Price of Cupbop items $11.70-$13.14 
Shark Mark Cuban 
Cupbop Shark Tank Episode (Shark Tank USA)  S.E. 13 EP. 21 
Air Date May 02, 2022  
Asked For $1 Million For 3% Equity 
Final Deal $1 Million For 5% Equity 
Net Worth in 2021 (before Shark Tank)  $ 95 million  
Net Worth in 2023 (Cupbop after Shark Tank)  $200 million  
Business Status In Business 
Website Visit Website 
Get the ProductBuy Now 
Watch On Amazon Prime 
Headquarter 593 E 12300 S Ste B Draper, UT 
Social Media Pages Instagram 

How Was CupBop on Shark Tank? 

Cupbop did very well in the show. They successfully grabbed the attention of all the Sharks. All five Sharks were excited about the opportunity. First, Kevin O’Leary said he’d give Cupbop $1 million as a loan with a 10% interest rate over three years. He wanted 3% of the company in return.

How Was CupBop on Shark Tank

Then, Barbara Corcoran offered $1 million for a 30% share of the company. 

Next, Robert Herjavec made a bigger offer, a $5 million for a 28% ownership stake in Cupbop.

Additionally, Lori Greiner teamed up with Corcoran, presenting a combined proposal: they offered $1 million at an 8% interest rate. In return, Lori for a 5% ownership share in Cupbop. Lastly, Mark Cuban got the deal: $1 million for 5% equity. 

What Happened to Cupbop After Shark Tank 

Initially, in front of the Sharks, Song and Kwon expressed that they had a target to become one of the top quick-serving Asian restaurants like “Panda Express.” But if you ask what happened to Cupbop after Shark Tank?: they achieved more than that.  

Cupbop continued to stick to its initial expansion plan. In December 2022, they revealed their intention to acquire some additional franchising efforts. Kwon was dedicated to his commitment. He was keen to leverage the impressive progress of Cupbop’s nationwide expansion.  

What Happened to Cupbop After Shark Tank

With such a clear objective and vision, the duo put all their efforts into bringing authentic Korean cuisine to a greater number of U.S. cities. As a result, Cupbop had established a presence with 42 stores across several states. Some must-mention states are Utah, Idaho, Arizona, Colorado, Nevada, etc.  

Not only nationwide expansion, Cupbop also went for international expansion. They established physical outlets at 130 locations in Indonesia with intentions to broaden their reach within the South-Asian region.  

They’re also thinking about expanding to places like Vietnam, Korea, and Japan. This shows that lots of people really like CupBop’s Korean food.  

However, many people ask, “Was Cupbop on Shark Tank?” and there is a reason. We must inform you that all these expansions are done by Cupbop’s owners only without the intervention of the Shark’s Cuban.  

Unfortunately, the status of the deal with Mark Cuban remains uncertain. Still, there is no indication of Cupbop’s inclusion in Cuban’s investment portfolio at this time. 

Cupbop Net Worth 

Since they were on Shark Tank, CupBop has made a lot more money. They started with $18 million in sales, and now it’s over $34 million. In 2023, they’re worth around $200 million.  

CupBop is doing really well, with 49 stores and 22 food trucks all over the United States. In a recent update on Shark Tank, they said they make $37 million in a year. 

Cupbop Net Worth

Cupbop Sales Data 

The following is the graphical representation of Cupbop sales data. It consists of the years’ sales figures. 

Year Sales Data 
2019 $32 million 
2020 $50 million 
2021 $95 million 
2022 $160 million 
2023 $200 million 

Is Cupbop Profitable Now? 

The above-listed sales data clearly show that Cupbop today is making money. The consistent increase in Cupbop’s net worth from 2019 to 2023 indicates that the business has been steadily and increasingly profitable over this period.  

This growth suggests that Cupbop is highly successful in generating a significant amount of revenue, expanding its operations, and increasing its customer base. Also, the fact is that the company’s net worth has doubled between 2022 and 2023. It suggests that its profitability index is on an upward track. 

Is Cupbop Profitable Now

However, it’s important to note that net worth is not the same as profit. Net worth is the total value of a company, including its assets and liabilities. From a financial analyst’s point of view, the assets and liabilities are influenced by various factors.  

So, it is not possible to get the exact figure regarding its profit. However, Cupbop’s expansion rate, increased sales, and plan for future expansion indicate that the company is now making a profit. 

Final Words 

We hope that now you have a clear idea of Cupbop Shark Tank Update 2023. Cupbop was a successful business even before appearing in Shark Tank. But, their appearance on this great reality show gave them more public exposure. We see this event as a marketing strategy for the company.  

Their appearance on Shark Tank dragged an enormous amount of public and media attention, which was a huge opportunity for the company. Now, it is clear that with perfect business strategies, the company will grow more and will become an International Korean Food Chain in the near future. 

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