Like Air Puffcorn Shark Tank Update – Like Air Puffcorn Net Worth

We all like popcorn but get annoyed when kernels get stuck in our teeth. Like Air Puffcorn is a new treat for popcorn lovers that melts in your mouth, and the best part is there are no kernels. Honestly, it is much better than traditional popcorn.

Entrepreneurs and siblings Allison Lin, Steve Atieh, and Kevin Atieh from Maddison, New Jersey, pitched their snack food brand “Like Air” during Shark Tank Season 15, Episode 11.

They asked for $300k for 3.5% equity at a $8.5 Million Valuation. The company started a few years ago, and its products are available at stores like Kroger, Meijer, HEB, ShopRite, Stop & Shop, Giant, Wegmans, Amazon, etc.

Like Air Puffcorn Net Worth

Currently, Like Air is worth an estimated $7 Million. It was launched in 2020 in New York City with a mission to transform the snacking experience for all ages, no matter what, whether it’s a 6-month-old or a 106-year-old person.

Did Like Air Puffcorn get a deal on Shark Tank?

Yes, Like Air got a deal from Mark Cuban and Lori Greiner for $300,000 for 10% equity. Their business is skyrocketing and seems to be doing great. Their snack range is now available in multiple stores, including Amazon.

Shark(s) InvolvedOffer madeDemandAccepted?
Barbara CorcoranN/AN/AN/A
Lori Greiner & Mark Cuban$300k10% EquityYes
Kevin O’LearyN/AN/AN/A
Robert HerjavecN/AN/AN/A

Like Air Puffcorn Snack Shark Tank Update

like air puffcorn shark tank deal

Allison Lin, Steve Atieh, and Kevin Atieh pitched their snack food brand, “Like Air” and asked for $300k for 3.5% equity. Like Air stands out from its competitors regarding healthfulness above all else. Their puffcorns hit right in the taste buds, melt in your mouth, and have no kernels.

The company offers flour flavors, pancakes, butter and salt, American cheddar, and cinnamon bun. The sharks were pretty impressed with their background, product, and sales of last year. They asked multiple questions, and finally, the entrepreneurs locked two sharks in a deal of $300k with 10% equity.

Founders and BackStory

like air puffcorn founders on shark tank

Like Air was founded by Steve Atieh, Allison Lin, and Kevin Atieh. One of the entrepreneurs, Allison explained that when she had her first daughter, she was concerned about her eating and snacking habits, like what she was eating, whether it was healthy or not. She saw a lot of space in the snack market and had many innovative ideas, so she asked her brother to start a company together.

Barbara questioned what Steve was doing before he started with her sister. He said that I was working as an investment banker but also looking for opportunities where he could invest his money. She also asked Allison about her past before Like Air.

Allison told the sharks she had a degree in International Politics and studied conflict resolution. She was also a Fulbright scholar in Cyprus and worked with the United Nations. Lori was impressed and said,” Amazing, what a resume.” All of them clapped for Allison, CFO of Like Air.

Pitch and Offers

Allison started the pitch by saying that America is a snacking nation and we love tasty snacks but don’t want the guilt of unhealthy eating that comes with that; here is why we invented Like Air Puffcorns. It is suitable for a 6-month-old to 106 years old. It is a delicious, light, and airy snack that melts right into your mouth, and unlike popcorn, it has no kernel, so it won’t stick in your teeth.

Kevin says that our product has nothing artificial and is also made with non-GMO corn. Like Air Puffcorns are gluten-free and free from the top 8 major allergens.

Like Air Puffcorn comes in 4 flavors: Classic, White Cheddar, Cinnamon Bun, and Pancake. Further, their two sweet flavors have less than half the amount of the leading kettle corn on the market. The best part, it contains only 50 calories per cup.

The sharks got to try snack samples and were delighted and amazed by the product’s flavor. Kevin O’Leary complimented it, saying it is the best-tasting low-calorie snack they’ve had on Shark Tank in 15 years. A bag of the Puffcorn retails for $3.99, wholesales for $2.50, and costs $0.88 to make.

Kevin O’Leary asked how they make it and did they used an extrusion system to puff it up. In reply, Steve explained that it comes as cornmeal mixed up with a little bit of water and oil; it is still powdery, then it goes into the machine and puffs right out. Sharks asked if they had raised money before, and Steve explained that they had raised $800k in 2019 and just raised $3.5k more.

Lori Grenier asked, “If you have all the money, why did you need a shark?” They tried to explain to the sharks that they need expertise and partnerships, but at this point, Mark Cuban got a bit irritated and said you are just advertising here. Is this a commercial for you guys?

Sharks also asked about sales. Air Enterpreneurs explained that sales in 2020 were $100k, sales in 2021 were $2.5 million, and sales in 2022 were over $5 million, which caused them to lose $190k. They plan to do $10 million in sales in 2023 and burn $1 million in cash this year. They plan to do about $30 million in sales in 2024, then $50 million, then $80 million.

Barbara Corcoran shared a story about her investment with the brand Pipcorn and how sales were in the sky. Still, eventually, her investments began to shrink as other investors came on board, so for that reason, she is out. Robert Herjavec wasn’t happy about the equity they offered. He said he was on Shark Tank to make a bigger impact, so he went out next.

Like Air Puffcorn Challenges and Motivation

Like Air, despite its health-conscious product offerings, is encountering several challenges on its journey to expansion and success. One major obstacle is expanding their inventory while maintaining their products’ quality and health-focused nature. Also, the company faces the challenge of gaining more prominent shelf space in stores like Krogers and others, which can be highly competitive for emerging brands.

However, the founders of Like Air remain motivated by their ambitious goal of generating $80 million in revenue within the next 1-2 years. This drive propels them to find innovative solutions to inventory and distribution challenges.

They understand the importance of balancing their health-forward image with the versatility of their products, as evidenced by their willingness to share customer-submitted recipes that incorporate less health-conscious ingredients like M&M’s and marshmallows. This motivation to cater to a wide range of consumer preferences and dietary needs keeps them focused on growth and innovation despite obstacles.

Negotiation and Final Deal

Lori Greiner takes a chance and offers $300,000 for a non-dilutable 7.5% equity. Steve counters her with 7.5% equity, which is dilutable.

Lori offers back 10% dilutable equity, and Steve asks if Mark would get in on the deal with Lori, and he agrees for 10%. Finally, Like Air got a deal from Mark Cuban and Lori Greiner for $300,000 for 10% equity.

Like Air Puffcorn Availability

Like Air Puffcorn comes in 4 flavors: Classic, White Cheddar, Cinnamon Bun, and Pancake, further, their two sweet flavors have less than half the amount of the leading kettle corn on the market. The best part, it contains only 50 calories per cup.

A bag of the Puffcorn retails for $3.99, wholesales for $2.50, and costs $0.88 to make. Like Air products are available at stores like Kroger, Meijer, HEB, ShopRite, Stop & Shop, Giant, Wegmans, Amazon, etc.

Bottom Line

After the buzz subsides, we’ll revisit Like Air Puffcorn to provide you with an update on their progress since their appearance on Shark Tank. In the meantime, feel free to check out other updates of episodes of this exciting show.

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