Filipino cuisine has a unique charm that is completely different from traditional American cuisine. This exotic and familiar flavor is being embraced by the growing Filipino-American community in the United States. Founded by Jake Deleon, who discovered a promising niche and struck a deal with Daniel Lubetzky. Following “Shark Tank,” Fila Manila is valued at approximately $3 million.
Jack de Leon's background
De Leon was born in the Philippines and raised in New Jersey. He is a first-generation Filipino American, so the influence of his home country remains strong. He experienced firsthand the joy of Filipino partying.
Additionally, one of his parents’ side hustles was cooking Filipino food for friends and family. He helped them and became familiar with cooking at a young age.
Founding of Fila Manila
Jake launched his first startup, Original Almond, in 2015, but it closed during the pandemic. The Washington entrepreneur was frustrated, but only temporarily, because he felt a sense of Filipino pride when he read an article about frontline Filipino health workers.
This led him to research Filipino food and discovered that it was underrepresented in the United States. Deleon spent $1,200 cooking up three must-have sauces. One for adobo, one for kare-kare, and one for caldereta.
In late 2020, he launched Fila Manila on Amazon. It quickly became the best-selling product on the site, attracting interest from Kraft Heinz and Sputnik ATX, which later made a seed investment.
Enter Shark Tank
With two successful investment rounds and annual revenue of about $150,000, Fila Manila underwent a massive makeover. They moved from jars to more sustainable bags and squeeze bottles. They revealed the packaging for Shark Tank and were seeking $250,000 for a 5% stake. Valuations are too high, Daniel Lubezki made his feelings clear.
After Shark Tank
The Lubetzky deal boosted the company's profile and led to a surge in sales, surpassing total online sales for 2023 in just 48 hours after the episode aired. The series has been watched by more than 3.5 million viewers, and millions more will view the product through clips on social media.
Deleon's products are sold in 2,000 stores in 25 states, a number that has doubled in the past 18 months! The founders also estimate that business at major retailers is growing at 30% to 40% annually.
You can purchase products online on Amazon, Umami Cart, Weee and FilaManila.com. Also available at stores like Sprouts, Target, Whole Foods, Meijer, Fresh Thyme and Mom's Organic Market.
Prices range from $9.50 to $15, and the company is selling a Shark Tank Pack that includes four sauces and a gift box for $39. Mild Adobo Sauce is their best-selling product on Amazon, with a 3.8-star rating out of 261 reviews. According to the 2020 Census, there are 4.4 million Filipino Americans who would love their products.
Categories: Shark Tank
Source: svlsf.edu.vn