Fila Manila Shark Tank Episode Update & Net Worth

Fila Manila Shark Tank Episode Update & Net Worth

Jake Deleon, the founder of Fila Manila, appeared on Shark Tank Season 15, Episode 17 seeking $250,000 for 5% equity, valuing the company at $5 million. Fila Manila offers a unique taste of Filipino-American flavors, including Banana Ketchup, Adobo Sauce, Kare-Kare peanut sauce, and Ube and Coconut Jam.

During his pitch, Jake presented the sharks with a full meal of Fila Manila products. He explained that sales grew from $6,000 in 2020 to $50,000 in 2021, reaching $400,000 in 2022 and an estimated $800,000 for 2023.

Despite the impressive growth, the sharks had concerns about Jake’s profitability and his ability to attract non-Filipino customers. Ultimately, Daniel Lubetzky offered $250,000 for 20% equity with an option to return 5% if sales benchmarks are met, which Jake accepted.

After the episode aired, Fila Manila experienced a significant boost in sales and visibility, generating more revenue within 48 hours than it did in online sales in 2023. The company has since expanded to over 2,000 stores across 25 states, doubling its retail presence in the last 18 months.

Fila Manila has also made sustainability a priority, transitioning from glass jars to eco-friendly pouches. Their Banana Ketchup has even earned Upcycled Certification for using over 50% upcycled banana puree.

As of April 2024, Fila Manila is still in business and growing rapidly. The company is estimated to be doubling its annual revenue in 2024, with a growth rate of 30-40% at major retailers. However, Jake Deleon’s personal net worth is not publicly disclosed.

Fila Manila’s products are now available on various platforms, including Amazon, Umami Cart, Weee, and the company’s website.

With a potential market of over 4.4 million Filipino Americans, Fila Manila is well-positioned to continue its success in the Filipino-American food market.

What is Fila Manila? How Does It Work?

Fila Manila is a food brand that brings traditional Filipino flavors to American grocery stores. The company offers a variety of Filipino sauces and condiments, including Banana Ketchup, Adobo Sauce, Kare-Kare Peanut Sauce, and Ube Coconut Jam.

These products aim to make Filipino cuisine more accessible and convenient for home cooks, allowing them to prepare authentic Filipino dishes quickly and easily.

The sauces are designed to be versatile and can be used with various proteins and vegetables, making them a practical choice for those who want to explore Filipino flavors or recreate nostalgic dishes from their heritage.

Fila Manila products are currently available in select grocery stores and online, with plans for further expansion.

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Fila Manila, a Filipino food company founded by Jake Deleon, made a splash during Season 15 of Shark Tank. Jake pitched his business, which specializes in authentic Filipino sauces and condiments, to the sharks, seeking investment to help expand his product’s reach into mainstream grocery markets.

The pitch impressed Daniel Lubetzky, who offered $250,000 for 20% equity with an option for Jake to buy back 5% equity upon meeting certain sales benchmarks. Following the show, Fila Manila experienced a significant boost in sales and is actively working on expanding its retail presence across the United States.

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Fila Manila Shark Tank Full Episode + What Happened at Shark Tank Pitch?

In the Fila Manila Shark Tank episode, Jake Deleon asked the sharks for $250,000 in exchange for 5% equity, valuing his company at $5 million. Jake introduced the sharks to his range of Filipino sauces, emphasizing their uniqueness and the growing demand for authentic ethnic foods in the American market.

 The sharks were particularly impressed with the Banana Ketchup, a traditional Filipino condiment made from bananas instead of tomatoes, offering a unique twist on a familiar product.

Jake explained that Fila Manila had generated $400,000 in sales in 2022 and was on track to reach $800,000 by the end of 2023. His products had already gained traction in several Whole Foods regions and were expanding into other national retailers.

Despite the promising sales and growth potential, some sharks expressed concerns about the scalability and market demand for Filipino foods.

Lori Greiner and Mark Cuban opted out, with Mark stating that he didn’t see enough demand to make the business investable. Daymond John and Kevin O’Leary also passed, with Kevin citing concerns over the financials.

However, guest shark Daniel Lubetzky, founder of KIND, saw potential in Jake’s vision and offered $250,000 for 20% equity, with the option for Jake to buy back 5% if he met certain sales milestones. Jake accepted Daniel’s offer, recognizing the value of having a seasoned entrepreneur like Daniel on his team.

What Happened to Fila Manila After Shark Tank?

Following the airing of the Fila Manila episode, the company experienced a massive surge in sales. Within 48 hours of the episode airing, Fila Manila generated more online sales than it had in the entire year of 2023.

 The exposure from Shark Tank significantly boosted the brand’s visibility, leading to increased interest from both consumers and retailers.

Jake Deleon shared in an exclusive update that the partnership with Daniel Lubetzky is currently in the due diligence stage, with plans to leverage Daniel’s experience and connections to further expand Fila Manila‘s presence in national grocery stores.

The company is also working with Camino Partners, a firm that helped scale KIND into a household name, to replicate that success for Fila Manila.

How Much Is Fila Manila Worth?

As of 2024, Fila Manila is estimated to be worth around $1.25 million, based on the $250,000 investment for 20% equity made by Daniel Lubetzky. This valuation reflects the company’s potential in the ethnic food market and its rapid growth following the Shark Tank appearance.

Is Fila Manila Still in Business?

Yes, Fila Manila is still in business and continues to grow. The company is actively working on expanding its product line and increasing its presence in grocery stores across the United States.

The partnership with Daniel Lubetzky and the exposure from Shark Tank have set the stage for Fila Manila to become a prominent player in the ethnic food market, bringing Filipino flavors to a broader audience.

Which Episode Number Was Fila Manila on Shark Tank?

Fila Manila appeared on Shark Tank during Season 15, Episode 17, which aired on March 2, 2024. During this episode, Jake Deleon presented his line of Filipino sauces and condiments to the sharks, seeking investment to help scale his business.