Chi’lantro Korean BBQ Update | Shark Tank Season 8

After starting his own Korean and Mexican fusion-inspired BBQ business, Jae Kim wanted to try his luck on Shark Tank to see if anyone was willing to invest $600,000 in his BBQ business in exchange for 15% equity. Lucky for him, Barbara Corcoran took the bite and put in $600,000 of her own money for 20% equity in Chi’Lantro BBQ. Being that it’s a few years since the episode aired, a Chi’Lantro update is long overdue, which is exactly what we’ve got for you.

Shark Tank Chi’lantro Update

Shark Tank Chi’lantro Update

  • Entrepreneur: Jae Kim
  • Business: Korean and Mexican fusion inspired BBQ
  • Ask: $600,000 for 15% equity
  • Result: $600,000 for 20% equity
  • Shark: Barbara Corcoran

Jae Kim opened his pitch by detailing where it all started. After his first business, a failed coffee shop, he started Chi’lantro BBQ out of a food truck in 2010. By the time that Jae had made his appearance on Shark Tank, he already owned multiple Chi’Lantro food trucks on top of three restaurants scattered all across the United States. This all totaled $4.7 million in sales over the past year. Now, he wanted the help of a shark to expand his business even further.

Hearing Jae’s story impressed the sharks and they referred to it as living the American dream. However, not all of them were interested in investing. Guest shark Chris Sacca was a fan of the food but didn’t feel like the investment was right for him. Kevin O’Leary was in the same boat, but he felt that new restaurants were prone to failure and went out as well. Mark Cuban also went out but only because, according to him, he wasn’t a “restaurant guy.” The same goes for Lori Greiner, who felt that the business model just didn’t make it a good investment.

Only Barbara Corcoran extended an offer. She initially offered $600,000 for 30% equity, to which Jae countered with 20%. She accepted his counter and a partnership was born. Fast forward to a couple of years later and we’re ready to see how the Korean BBQ restaurant is doing in our Chi’lantro update.

So, what has Kim been up to since striking a deal with Shark Tank? Big things, apparently. According to recent estimates, Chi’lantro has earned more than $9 million since Kim appeared on Shark Tank. Despite the ongoing pandemic, Chi’lantro recently opened up its 8th location in Austin, Texas.

Seeing as the social media pages of the business are still well-maintained, we have reason to believe that Barbara’s investment has been quite successful!

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