After one intense bidding war, Jung Song and Dok Kwon settled with Mark Cuban’s offer of $1 million equity for a 5% stake.
Season 13 of Shark Tank is coming to a close, but these entrepreneurs are just getting started. The hit ABC show showcases aspiring entrepreneurs as they pitch their business ideas to the panel of investors.
Cupbop: Korean BBQ appeared on the show last night, and if they didn’t make you go WOW, they certainly made you hungry. So, who exactly are Cupbop, and how did their idea spark an intense bidding war? Let’s find out…
- SELLING SUNSET: Why fans think Chrishell and G Flip are dating
What is Cupbop?
Cupbop are a fast casual restaurant offering delicious Korean BBQ cuisine. Back in 2012, Junghun Song began Cupbop with a food truck and a dream.
Dok Kwon first met Song after being a customer at Cupbop, where the two decided to team up. The name for the business comes from what they offer, as bop means steamed rice in Korean.
They state on their website that Cupbop means “a steaming cup of WOW!”
Cupbop on Shark Tank
Now you’re probably thinking, why do Kwon and Song need Shark Tank’s help with what already seems to be such a successful business? Well, the pair took Cupbop to the show as they need the investors help with PR and Marketing.
It’s all well and good having tasty food, but if you don’t know your marketing then there’s no way for your business to become worldwide – which is exactly what Cupbop want!
The pair were extremely successful on the show, receiving offers from all five investors. But Mark Cuban’s offer was one which the Cupbop team just couldn’t resist, $1 million equity for a 5% stake.
It seems the investors weren’t the only ones loving the Korean BBQ deliciousness…
- AMERICAN IDOL: Laine Hardy sang his heart out way before arrest
A Smile In Every Cup
Kwon and Song’s energy was infectious on Shark Tank. Cupbop claim that all their cups are served with a smile, and that if you receive a little extra food from their staff, this is just them “sharing the generosity of Korean culture.”
If you thought their brand couldn’t get any better, we’ve got some news for you. Cupbop also offer free meals to teachers, schools and football teams. There reasoning behind this is simple, as they explain on their website:
“If teachers are happy, kids will be happy. If kids are happy, families will be happy. And the world needs happy families!”
WATCH SHARK TANK ON ABC EVERY FRIDAY AT 8/7c