Chirps Chips Net Worth 2023:How Did The Company’s Growth Soars After Appearing on the Shark Tank?
Chirps Chips, the famous snack food company, has become a household name in recent years. It’s no wonder, then, that people are curious to learn more about this successful company, especially when it comes to its net worth. This article will discuss Chirps Chips and their current net worth. We’ll explore the factors contributing to the company’s success and examine its future.
What Are Chirps Chips?
Chirps Chips is a company that sells cricket powder-containing snacks. For example, its tortilla chips comprise soy, grain, and powdered grain ingredients. Made from cricket flour, Chirps chips are a line of high-protein snacks. The remaining components include corn, beans, and chia seeds.
The maker claims that chirps contain three times as much protein as traditional potato chips. According to the Chirps website, cricket powder is an excellent source of fiber, amino acids, protein, and probiotics. This product is also gluten-free.
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|Company Name||Chirps Chips|
|Entrepreneur||Laura D’Asaro and Rose Wang|
|Product / Business||Cricket chips with high levels of protein.|
|Investment Asking For||$100,000 for 7% equity in Chirps chips|
|Final Deal||$100,000 for 15% equity in Chirps chips|
|Episode||Season 8 Episode 14|
|Business Status||In Business|
Who Is The Founder Of Chirps Chips?
Chirps chips were founded by Laura D’Asaro, Rose Wang, and Meryl Natow. After she and her pals ate fried scorpions in China, she shopped at stores. As a result of their research, Six Foods was formed to sell insect-based snacks to consumers in the United States and beyond. As seen by a successful Kickstarter campaign that earned over $70,000 in 2014, some Americans are passionate about it (or at least the concept).
Chirps Chips and Chirps Cookies by Six Foods are created using cricket flour. Significant levels of magnesium and all nine necessary amino acids are found in crickets. One pound of cricket protein may be generated with only one gallon of water, whereas the same quantity of beef protein requires almost two thousand gallons of water.
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The most challenging component of the business is convincing Americans to test its products. Even though billions of people worldwide ingest insects regularly, this practice has yet to catch on in the United States.
Currently, Chirps are available for $6.99 on the website of Six Foods. The company also contemplates cricket-based food variations, such as insect burgers.
What Is Chirps Chips Net Worth?
Here is an update on Chirp Chips’s net worth so far.
|Chirp Chips’s Net worth before appearing on Shark Tank||1.42 Million USD (business valuation)|
|Chirp Chips’s Net worth [year between appearing and now]2020||1 Million USD|
|Chirp Chips’s Current Net worth (2022)||4 Million USD|
Laura D’Asaro and Rose Wang, the inventors of Chirp Chips, have a combined net worth of $3.4 million as of 2022.
Chirps Chips Before Shark Tank
Laura and Rose lived together when they were at Harvard University. The While attending Harvard University, Laura and Rose lived together. When the two students returned from semesters abroad in different countries, they had one thing in common: they had eaten insects.
After discovering it, these two young women became interested in insect nutrition. According to their research, it is ubiquitous in different cultures. Additionally, it is one of the most sustainable protein sources. Chirps is touted as a snack chip based on insects. Through a series of pitch challenges, they successfully raised $200,000. Chirps come in various tastes, including barbeque, sea salt, cheddar, Chocolate Chirps, and a cricket mix.
According to the company’s analysis, monthly sales will reach around $200,000 by the end of the year. In addition, it was anticipated that Chirps would produce $1.5 million in revenue by the conclusion of the current fiscal year.
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What Happened To Chirps Chips After Shark Tank?
Laura and Rose appeared on Shark Tank and asked for a $100,000 investment in exchange for a 7% interest in Chirps Chips. Since their appearance on Shark Tank, Chirps has produced several additional items, including cupcakes, biscuits, and cricket protein powder. Most of their products have received 5-star ratings on their Facebook company page.
Chirps Chips has expanded into various popular merchants, including 7-11s and museums. Additionally, Rose and Laura have redesigned the box. Due to their efforts, their products have been featured on numerous must-have lists, news networks, and websites. The partnership with Mark Cuban was the best thing that could have occurred to this struggling company.
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Update on Chirps Chips on Shark Tank
Due to Mark Cuban’s support, Chirps Chips received substantial notoriety after signing a contract with him. This exposure gave the image of solid sales; along the way, they even introduced new products and conducted research. This experience left a mark.
The protein shake is available in three delectable and distinct flavors, and all of the products include the exact quantities of healthy proteins and essential nutrients. Vanilla and chocolate are the flavors available. Since signing the contract with Mark, Chirps chips have expanded its product line to include cupcakes, cookie mixes, and cricket protein powder.