PipSnacks was started in 2012 by Jeff Martin, his spouse Teresa and his sister Jen after Jeff had an epiphany while assisting his sister in moving from one apartment to another in Chicago. Hungry after a long day of moving, Jeff and Jen realized that the only food that hadn’t been packed away was a single bag of popcorn kernels she’d bought, so the siblings popped popcorn and found it was the best thing they’d ever had. Jeff carried out some research and discovered that the kernels were heirlooms and grown by an Indiana farmer.
The siblings and Teresa started popping and packing the popcorn that would later take the name PipCorn and start selling the bags in Brooklyn, New York, and online using these kernels (which popped smaller and crunchier than many other brands). Oprah’s famous Favorite Things list included the brand the same year it was introduced, giving the business great exposure. The family was contacted by “Shark Tank” when the show learned of their business success. However, when the show returned the next year, they happily accepted the invitation. 2014 saw PipCorn make an appearance on “Shark Tank,” which aired in season six, episode ten.
What happened to Pipcorn on Shark Tank?
According to Daily Meal, Jeff, Jen and Teresa wanted $200,000 in return for 10% ownership of the PipCorn company so that the Martin family could focus on growing the business and investing in manufacturing equipment. Teresa stated in an interview posted on the PipSnacks blog that leaving the show without a deal was “out of the question.” Shark Kevin O’Leary, also known as Mr. Wonderful, told the Martins that he believed they were overvaluing the business and pulled himself out of negotiations. Barbara Corcoran, an investor in several food firms over the years, disagreed. Corcoran offered the Martins what they were asking for, but she also demanded a 10% draw of whatever money they withdrew from the company. The Martins then decided to accept the offer.
Pipcorn after Shark Tank
On the night the PipCorn episode aired on “Shark Tank,” orders started to come in. The company received 7,000 orders in the 24 hours after the show’s airing, compared to 26 orders in the previous three months. Sales increased 450% in the 3 months after the broadcast, surpassing $1 million. PicCorn appeared in Whole Foods shops countrywide in 2016, providing millions of people access to the crunchy, tiny popcorn.
In 2020, the company grew internationally and started to sell in Canada and in 2021, the Martins were invited back to “Shark Tank” to provide an update on their strong business.