‘Shark Tank’: Korean BBQ Group Cupbop Reaches $1 Million Deal With Mark Cuban After Intense Bidding War

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When Cupbop founders Jung Song and Dok Kwon entered the tank seeking a million dollar investment in exchange for a 3% stake in their Korean barbecue joint, everyone thought that the duo’s pitch would be doomed. But the two savvy contractors not only managed to start a bitter bidding war among the Sharks, but also struck a deal with Mark Cuban!

Song and Kwon presented their pitch for their delicious Korean BBQ which is served in a cup with dumplings on the side to the Sharks on the recently aired episode of “Shark Tank.” After tasting Cupbop’s wide array of offers, the Sharks were truly impressed. But things got better once Song and Kwon started discussing the numbers. The Sharks were all set to roast the duo for their insane valuation, but once the contractors revealed they had made over $12 million in sales, the Sharks were left speechless. The stellar sales numbers associated with the delicious barbecue proved to be compelling enough testimony for the Sharks to pitch their bids in hopes of closing the deal.

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While Robert Herjavec, Lori Greiner and Barbara Corcoran obsessed over low equity, Mark decided to play it smart by making a strategic offer the Cupbop founders couldn’t resist – $1 million in exchange for 5% stake. Although Lori and Barbara teamed up and Kevin tried to revise his offer, Mark’s shrewd decision worked, and the Cupbop founders decided to do the deal with Mark.

Song started Cupbop in 2013 as a food truck offering Korean food. He used to break dance to attract customers, but today the duo own a chain of brick-and-mortar stores across the country and in Indonesia as well. Kwon was initially Song’s client, but later decided to give up his high-paying job as an investment banker to pursue his entrepreneurial dreams. So he teamed up with Song, and the rest is history.

If you’re wondering what prompted the founders of Cupbop to feature their brand on “Shark Tank,” then the answer is marketing. Although Sing and Kwon have mastered the operational part of their business, they are still trying to learn the ropes of marketing. So they wanted the help of a shark to help them turn their business into a successful food joint venture spread across the country! With Mark’s help, we’re sure Cupbop will soon become a household name.

Season 13 of “Shark Tank” airs every Friday at 8.7c on ABC.

Missed an episode? Want to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not only that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.

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