JicaFoods Shark Tank Episode 10 Update & Net Worth
JicaFoods Shark Tank Episode 10 Update & Net Worth JicaFoods was featured on Shark Tank Season 14, Episode 10, where co-founders Xin Wang and Melissa Colella-Wang pitched their company, seeking $300,000 for 3% equity. JicaFoods specializes in jicama-based snacks that are nutritious, low-calorie, and available in major retailers like Whole Foods and Sprouts Farmers Market….
JicaFoods Shark Tank Episode 10 Update & Net Worth
JicaFoods was featured on Shark Tank Season 14, Episode 10, where co-founders Xin Wang and Melissa Colella-Wang pitched their company, seeking $300,000 for 3% equity. JicaFoods specializes in jicama-based snacks that are nutritious, low-calorie, and available in major retailers like Whole Foods and Sprouts Farmers Market.
Despite early struggles with their initial product, jicama chips, the couple pivoted to focus on JicaWraps, a more successful and scalable product line.
During the pitch, the company revealed impressive sales growth, with $5 million in revenue in 2021 and projections of $9 million for 2023.
After a competitive negotiation, Barbara Corcoran offered $300,000 for 6% equity and 3% advisory shares, which the founders accepted. As of April 2024, JicaFoods remains in business with an estimated net worth of $5 million.
What is JicaFoods? How Does it Work?
JicaFoods is a food brand that creates snacks made from jicama, a Mexican root vegetable known for its high fiber content, low calories, and health benefits. The company offers a variety of products, including JicaWraps, JicaSticks, and Jica de Gallo. These products are rich in Vitamin C and potassium, and they are Keto, Paleo, Vegan, Gluten-Free, and Grain-Free.
The standout product, JicaWraps, serves as a healthy alternative to traditional tortillas, containing only 8 calories per wrap compared to the 100 calories found in regular tortillas. This makes them a popular choice among health-conscious consumers.
JicaFoods products are widely available in over 700 retail locations, including Walmart, Sprouts, and Whole Foods.
JicaFoods Shark Tank Episode 10 Season 14: What Happened at Shark Tank Pitch?
In Season 14, Episode 10, Xin Wang and Melissa Colella-Wang pitched JicaFoods to the Sharks, seeking $300,000 for 3% equity at a $10 million valuation. They shared the company’s journey from selling jicama chips, which struggled against big-name snack brands, to pivoting towards JicaWraps—a product that found much greater success.
The Sharks were impressed by the company’s growth, with $1 million in sales in 2019, $4 million in 2020, and $5 million in 2021. Retailers purchase the wraps at $3 per unit, with a production cost of $1.85. This strong sales performance caught the attention of Barbara Corcoran and Kevin O’Leary, who both made offers.
After some back-and-forth, the founders accepted Barbara’s offer of $300,000 for 6% equity and 3% advisory shares, allowing them to retain more control of their company while still gaining valuable mentorship and capital.
JicaFoods Shark Tank Pitch Summary
| Company Name | JicaFoods |
| Founder | Xin Wang and Melissa Colella-Wang |
| Product | Jicama-based snacks |
| Amount Asked For | $300,000 for 3% equity |
| Final Deal | $300,000 for 6% equity + 3% advisory shares |
| Investor | Barbara Corcoran |
| Season & Episode | Season 14, Episode 10 |
| Lifetime Sales | $2.1 million estimated |
| Business Status | In Business |
| Current Net Worth | $5 million |
What Happened To JicaFoods After Shark Tank?
Following their appearance on Shark Tank, JicaFoods saw a significant boost in visibility and consumer interest. The exposure from the show, combined with Barbara Corcoran’s strategic guidance, has helped the company expand its reach into more retail locations and refine its product offerings.
As of January 2023, JicaFoods products are available in over 700 stores across the United States, including Walmart, Sprouts, and Whole Foods.
The pivot in 2015 from chips to JicaWraps and other jicama-based products has proven to be a successful strategy, driving steady sales growth. T
he company’s appearance on Shark Tank also helped lower customer acquisition costs, improve profit margins, and solidify its brand presence in the competitive health food market.
How Much Is JicaFoods Worth?
JicaFoods is currently estimated to be worth $5 million as of April 2024. The company’s sales have grown significantly since its founding, with revenue reaching $6 million in 2022. With continued growth and strategic investments, JicaFoods is well-positioned to capture a larger share of the $1.5 billion jicama market.
Is JicaFoods Still in Business?
Yes, JicaFoods is still in business as of April 2024. The company has successfully navigated the challenges of scaling a niche product and is now a recognized brand in the health food industry. With a strong presence in major retail chains and ongoing product innovation, JicaFoods is poised for continued success.
Which Episode Number was JicaFoods Shark Tank?
JicaFoods appeared on Shark Tank Season 14, Episode 10, which aired on January 6, 2023. The episode marked a pivotal moment for the company, helping it secure investment and mentorship from Barbara Corcoran and propelling the brand to new heights.
