TL;DR
Chi'Lantro founder Jae Kim was offered $600,000 for 20 percent equity on Shark Tank by Barbara Corcoran, planning to use the investment to expand his Korean BBQ-inspired restaurant. The investment will help Chi'Lantro continue growing across Texas and beyond.
On November 11, 2016, Chi’Lantro founder Jae Kim was offered $600,000 for 20 percent equity from shark Tank’s Barbara Corcoran, reports Fast Casual. Austin, TX-based Chi’Lantro (a mashup of the words “kimchi” and “cilantro”), has grown 25% year over year since its inception in 2010. Finally finding success on his first Shark Tank attempt, Kim now says he plans to use the investment to continue expanding his Korean BBQ-inspired restaurant across Texas and beyond.
Kim opened Chi’Lantro by maxing out his credit cards and using his entire savings. Originally working from one food truck, there are now four brick-and-mortar locations around Austin.
"Barbara is the perfect person for Chi'Lantro's growth,” Kim told Fast Casual. “She values the culture of Chi'Lantro and sees and trusts my vision to grow our company into a billion dollar company. Barbara grew her company from having nothing, so she was able to relate how I continue to grow my company today."
In this story
This story was originally published in 1851 Franchise on November 16, 2016. Burnaze summarizes and links to the original reporting.
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