During Season 15 of Shark Tank, entrepreneur Jake Deleon pitched his food brand, Fila Manila. This food company makes Filipino foods that is often scarce the existing grocery market.
Did Fila Manila get a deal on Shark Tank? Or, What happened to Fila Manila after Shark Tank?
Find out in our in-depth analysis on Fila Manila Shark Tank update and pitch recap.
Table of Contents
Quick Summary
If you are short on time, here’s a quick summary of Fila Manila Shark Tank Update:
Jake Deleon appeared on Season 15 of Shark Tank, securing a deal with guest shark Daniel Lubetzky for $250,000 in exchange for 20% equity. In terms of Fila Manila Shark Tank Update, the company experienced a surge in sales, exceeding its total online sales for 2023 within just 48 hours of the episode’s airing. Additionally, Jake is focusing on expanding into more national retailers.
Fila Manila On Shark Tank
| Shark | Result |
| Daniel Lubetzky | Accepted deal of $250,000 for 20% equity, plus option to get back 5% equity |
| Kevin O’Leary | $250,000 for 10% equity, plus a royalty of 5-8% until $500,000 is recouped (Not Accepted) |
| Lori Greiner | No Offer |
| Mark Cuban | No Offer |
| Daymond John | No Offer |
Fila Manila Shark Tank Deal
- Business: Packaged Filipino food
- Entrepreneur: Jake Deleon
- Asked For: $250,000 for 5% equity
- Shark Tank Deal: $250,000 for 20%, with the option to get back 5% equity
- Shark: Daniel Lubetzky
Fila Manila Company Info
| Brand Name | Fila Manila |
| Official Website | filamanila.com |
| @eatfilamanila | |
| @eatFilaManila | |
| Where To Buy Fila Manila | Check Price On Amazon |
What Is Fila Manila?
Fila Manila is a brand that brings authentic Filipino flavors to American households through easy-to-use sauces and condiments. Jake Deleon, the founder, wanted to create a product line that represents the underrepresented Filipino cuisine in grocery stores across the U.S.
The flagship product of Fila Manila is its Banana Ketchup, a beloved Filipino condiment made with bananas rather than tomatoes. It’s lower in sugar, carbs, and calories compared to traditional tomato ketchup, making it both a nostalgic and healthier alternative for many Filipinos and curious consumers alike.
Fila Manila Founder: Jake Deleon
Fila Manila was founded by Jake Deleon, a first-generation Filipino-American immigrant and entrepreneur.
Jake’s passion for food entrepreneurship ignited in his childhood as he assisted his family in making and selling Filipino delicacies to friends and relatives, helping to earn extra income for their household.
After completing his college education, he gained valuable experience at leading consumer product companies such as Procter & Gamble and Starbucks Corporation, where he honed his skills in the food industry.
The idea for Fila Manila took shape during the COVID-19 quarantine in 2020 when Jake researched the Filipino diaspora in the United States.
It is to be noted that Filipinos is the second-largest Asian ethnic group. And Filipino cuisine has a remarkable 287 percent growth in the consumer packaged goods market.
However, he discovered a significant gap – Filipino food was largely absent from mass retail grocery store shelves.
Fueled by a $1,200 stimulus check, treasured family recipes, and his unwavering determination, Jake set to work in his test kitchen, ready to bring authentic Filipino flavors to a broader audience.
Fila Manila Shark Tank Pitch
In a competitive environment, Jake Deleon, a first-generation Filipino American, entered the Shark Tank seeking to revolutionize how Filipino flavors are represented in American grocery stores.
Recognizing the gap in the market for authentic Filipino products, Jake developed a line of packaged foods under the brand name Fila Manila. His mission was clear: bring Filipino flavors to every home in America.
However, to expand his business further, he needed the backing of one of the Sharks.
Showcasing Products On Shark Tank Fila Manila Pitch
Jake began his pitch by introducing his flagship product: Banana Ketchup. Unlike traditional ketchup, which is tomato-based, this unique condiment is made with bananas, providing a nostalgic taste for many Filipinos. It also boasts health benefits, containing less sugar, carbs, and calories than its tomato counterpart.
Following this, he presented his Adobo Sauce, designed to make the preparation of the Philippines’ unofficial national dish, Chicken Adobo, effortless.
He also introduced the Kare-Kare sauce, a traditional Filipino peanut sauce, emphasizing its versatility by simply needing to be added to a choice of protein or vegetables for a quick meal.
Lastly, Jake showcased the Ube and Coconut Jam, perfect for topping desserts and capturing the essence of Filipino sweets.
As he described his products, the Sharks were given the opportunity to taste them, and they were noticeably impressed by the vibrant flavors that reflected Jake’s cultural heritage.
Impressive Sales Figures of Fila Manila
Jake’s pitch was even bolstered by impressive sales data, which demonstrated rapid growth and market potential.
- 2020: $6,000 in sales
- 2021: Sales surged to $50,000
- 2022: Further growth to $400,000
- Year-to-date (YTD) for 2023: Approximately $150,000, with an anticipated total of $800,000 in revenue by year-end.
Jake explained that the cost of producing each sauce pouch is $1.60, which wholesales for $3.33 and retails for around $5.99.
He revealed that Fila Manila started in a single Whole Foods store and expanded to cover an entire region, eventually reaching 4 regions. This expansion resulted in 90% of their sales coming from retail and 10% from online sources, primarily through Amazon.
Sharks’ Reactions and Offers For Fila Manila On Shark Tank
The Sharks were intrigued but had their reservations. Lori Greiner was the first to provide feedback, expressing her belief that Jake needed a more strategic approach to attract customers outside the Filipino community.
She noted that he hadn’t presented a plan to accomplish this, which ultimately led her to withdraw from the deal.
Jake quickly countered by stating that he had a marketing strategy, including content building, but before he could elaborate, Mark Cuban interjected. Mark dismissed the content plan as “terrible” and voiced concerns about whether there was sufficient demand for the products. So, he ultimately opted out next.
Daymond John followed, admitting he found the food delicious but experienced significant heartburn after tasting it. He emphasized that if he couldn’t eat the food comfortably, he couldn’t effectively advocate for it, and thus he too decided to exit the negotiations.
Kevin O’Leary, known as “Mr. Wonderful,” was next to weigh in, stating that the numbers just didn’t add up for him, leading him to drop out as well.
However, the tides turned when guest shark Daniel Lubetzky expressed his interest in Jake’s venture. He offered $250,000 for 20% equity, showing his willingness to invest in the brand’s potential.
The Golden Ticket Negotiation
In a surprising twist, Jake pulled out a “golden ticket” labeled as “Royalty”. With that, he counters Daniel Lubetzky, along with the 4 sharks who have already opted out, with a new offer of $250,000 for 5% equity, along with 5-8% royalties until the sharks get their investment back.
This innovative structure intrigued the Sharks and heightened the stakes.
Before Daniel could respond, Kevin O’Leary (Mr. Wonderful) suddenly got back into the game, offering $250,000 for 10% equity with royalties of between 5-8%, until he doubles his money.
At this point, the negotiations intensified.
Jake turned to Daniel to gauge his response to Kevin’s offer. Daniel Lubetzky countered by maintaining his original offer of $250,000 for 20% equity but included an option to regain 5% equity back if Jake met specific sales benchmarks.
Faced with the dual offers on the table, Jake weighed the options carefully. Ultimately, Jake decided to accept Daniel Lubetzky’s offer, marking a pivotal moment for Fila Manila and setting the stage for future growth.
So, what happened to Fila Manila after Shark Tank? Keep reading our in-depth analysis on Fila manila Shark Tank Update to find out!
Fila Manila Shark Tank Update
Based on our analysis on Fila Manila Shark Tank Update, we have come up with some interesting data about this food company.
Following Jake Deleon’s successful pitch on Shark Tank, Fila Manila has experienced remarkable growth, reflecting the power of national exposure and strategic partnerships.
Jake shared that being on the show was an incredible experience, allowing him to shine a spotlight on Filipino cuisine and culture. The immediate aftermath of the episode saw a significant spike in both online and retail sales.
In fact, Jake reported that their online revenue surged within 48 hours of airing, surpassing their total online sales for the entire year of 2023.
The partnership with Daniel Lubetzky, who invested $250,000 for 20% equity, has opened new avenues for Fila Manila. As of now, their deal is progressing through the due diligence stage.
Jake has also teamed up with Camino Partners, known for their role in helping grow KIND into a national brand. This collaboration is expected to further enhance Fila Manila’s reach in both retail and online markets, positioning them for continued success.
As of the latest Fila Manila Update, Fila Manila products are available in Whole Foods, Target, Stop & Shop, and various privately-owned grocery stores across the country.
Jake is actively working on expanding distribution to even more national retailers while increasing their online presence.
For those interested in trying Fila Manila’s unique offerings, the products can also be purchased directly from the company’s official website, making Filipino flavors more accessible than ever.
The future looks promising for Fila Manila, and fans eagerly await the next exciting developments in Jake’s journey.
Fila Manila Shark Tank Net Worth
As of the latest updates following Jake Deleon’s appearance on Shark Tank, Fila Manila is poised for significant growth, with projected revenues reaching $800,000 by the end of 2023.
Given the company’s impressive trajectory, including a surge from $6,000 in sales in 2020 to $400,000 in 2022, the brand’s net worth can be estimated based on its current sales and market presence. The solid retail partnerships with major grocery chains like Whole Foods, Target, and Stop & Shop further enhance its valuation and potential for future earnings.
After securing a deal with Daniel Lubetzky for $250,000 in exchange for 20% equity, Fila Manila’s post-pitch valuation can be approximated at $1.25 million. This figure reflects not only the immediate financial backing but also the strategic advantages that come with Lubetzky’s experience in scaling brands.
With ongoing efforts to expand retail availability and an increasing online presence, Fila Manila is positioned for substantial growth, making it an exciting player in the food market.
Did Fila Manila Get A Shark Tank Deal?
Yes, Fila Manila secured a deal on Shark Tank!
Entrepreneur Jake Deleon impressed the Sharks with his unique line of Filipino foods and a compelling sales growth story. After navigating through some tough feedback from the Sharks, he ultimately struck a deal with guest shark Daniel Lubetzky, who offered $250,000 for 20% equity in the company, along with an option to regain 5% equity back if certain sales benchmarks were met.
Jake’s innovative counteroffer of $250,000 for 5% equity plus 5-8% royalties was also considered during negotiations, showcasing his savvy approach to attracting investment.
By securing this partnership, Fila Manila is poised for significant expansion, bringing authentic Filipino flavors to a wider audience across the United States.
Fila Manila Reviews
Fila Manila has garnered positive reviews from customers who appreciate the authenticity and unique flavors of its products. The Banana Ketchup, in particular, has been a standout favorite, with many praising its sweet and tangy profile as a delightful alternative to traditional tomato ketchup.
Customers also love the Adobo Sauce and Kare-Kare Sauce for their convenience and ability to transform everyday meals into delicious Filipino dishes without the hassle of extensive preparation.
The Ube and Coconut Jam has also received rave reviews, especially among dessert lovers, who enjoy its versatility as a topping for various treats. Overall, Fila Manila’s products have resonated with both the Filipino community and adventurous food enthusiasts, leading to strong word-of-mouth recommendations and a growing fan base.
Where To Buy Fila Manila?
Fila Manila products are making their way into various retail locations across the United States, allowing consumers to easily access these authentic Filipino flavors.
You can find Jake Deleon’s sauces and jams in major grocery chains such as Whole Foods, Target, and Stop & Shop, along with a selection of locally-owned stores. With a growing presence in these retailers, Fila Manila is committed to bringing Filipino cuisine to homes nationwide.
For those who prefer online shopping, Fila Manila products are also available on their official website and platforms like Amazon. This convenience allows customers to order their favorite sauces and jams from the comfort of their homes, ensuring that everyone can enjoy the unique tastes of the Philippines, no matter where they live.
What’s Next For Fila Manila?
Jake Deleon has big plans for the future of Fila Manila. He’s working on expanding the brand’s retail presence, aiming to be stocked in more national chains like Target, Whole Foods, and Stop & Shop.
Additionally, he’s focusing on growing the brand’s online presence, making Fila Manila sauces available nationwide through its website and e-commerce platforms.
In a recent interview, Jake shared his pride in shining a spotlight on Filipino culture and cuisine. As a long-time fan of Shark Tank, he felt privileged to share his passion with millions of viewers. The exposure from the show not only boosted sales but also sparked interest in Filipino food from consumers who may not have been familiar with the cuisine before.
Jake is particularly excited about developing new products that continue to celebrate the rich culinary traditions of the Philippines. He’s also working on expanding Fila Manila’s distribution network to reach more customers across the country.
FAQs On Fila Manila Shark Tank Update
Who Is The Owner Of Fila Manila?
The owner of Fila Manila is Jake Deleon, a first-generation Filipino American. He founded the company to provide authentic Filipino foods that are often hard to find in grocery stores, aiming to bring Filipino flavors to homes across America.
Is Fila Manila Still In Business?
Yes, Fila Manila is still in business. Following its successful pitch on Shark Tank, the brand has experienced significant growth and continues to expand its presence in both retail stores and online platforms, making Filipino cuisine accessible to a wider audience.
Did Fila Manila Get A Shark Tank Deal?
Yes, Fila Manila secured a deal on Shark Tank with guest shark Daniel Lubetzky, who offered $250,000 for 20% equity in the company. Jake Deleon, the founder, successfully negotiated terms that included the option to regain 5% equity based on sales benchmarks.
What Happened To Fila Manila After Shark Tank?
After appearing on Shark Tank, Fila Manila experienced a significant boost in sales, both online and in retail stores, generating more revenue within 48 hours of airing than in all of 2023. Jake Deleon secured an investment from Daniel Lubetzky, which is currently going through the due diligence stage, while he continues to expand the brand’s presence in major retailers across the country.
Which Shark Invested In Fila Manila?
Daniel Lubetzky was the shark who invested in Fila Manila during the pitch. He offered $250,000 for 20% equity (including the option to regain 5% equity based on specific sales benchmarks), recognizing the potential of Jake Deleon’s unique Filipino food products.
Conclusion: Fila Manila After Shark Tank
Based on our in-depth analysis of Fila Manila Shark Tank update, we can say that Jake Deleon’s appearance on Shark Tank marked a major milestone for Fila Manila.
What started as a small business with a dream to bring Filipino flavors to the U.S. is now rapidly expanding, thanks to the exposure and investment opportunities Shark Tank provided.
With Daniel Lubetzky on board, the future looks incredibly bright for Jake and his mission to make Filipino cuisine a staple in American households.
Stay tuned for the next Fila Manila Shark Tank update as Jake continues to grow his brand and expand his product line, bringing even more exciting Filipino flavors to the world.
In the meantime, you can check out more Company Updates on Shark Tank Season 15 Episode 16 by clicking on the links below:
- Funky Mello After Shark Tank Update
- Da Vinci Eye Update
- Mella Pet Care After Shark Tank Update
Before you go, make sure to visit our Season 15 Company Updates Page, All Company Updates Page and Shark Tank All Products Page for more information on various companies and products featured in the Show.
At the same time, you can FOLLOW our blog to get the latest updates on businesses featured in Shark Tank Show. And, if you have any questions, you can send us message at your convenience.
Lastly, you can check out more Company Updates for the businesses featured in Shark Tank Season 14 by visiting our Season 14 Company Updates Page.
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