Where Is Pipcorn From Shark Tank Today?
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In 2010, siblings Jeff and Jennifer Martin founded a food company called PipSnacks. At the time, Jeff was helping Jennifer move when the two suddenly had a craving for a snack. They made their own popcorn using heirloom corn kernels, and loved it so much, they decided to create a business out of it. The siblings created several different flavors, sold under the PipCorn name, and the brand became a success.
So, besides the second letter in the product name, what sets this particular brand of popcorn aside from the rest of standard microwave popcorn you buy on the shelf at your local grocery store? Well, aside from a dizzying variety of flavors offered by the company, the corn used to make Pipcorn has very small kernels, resulting in a minuscule hull once popped, preventing it from getting caught in your teeth.
At the time the siblings appeared on "Shark Tank," the snacks had distribution in Northeast United States markets and could be ordered online, but the siblings wanted to expand their wholesale distribution network to other areas as well. Of course, such an enormous undertaking would require a massive infusion of cash, and that's where the sharks of ABC's "Shark Tank" come in.
The siblings found a friend in Barbara Corcoran
In "Shark Tank" Season 6, Episode 10, Jeff and Jennifer Martin approached the sharks to ask for assistance expanding PipCorn. During their pitch, the siblings shared the story of how their business started and passed out samples of the product, which the sharks seemed to like. The siblings asked for a $200,000 investment in exchange for 10% of the company.
Upon pressing from Kevin "Mr. Wonderful" O'Leary, however, they also shared details about the financial struggles they faced as growing entrepreneurs. Although their product had performed well in local stores, the burdensome costs of launching a manufacturing business had taken their toll on the pair. The two said they eat a lot of popcorn, and Jennifer even admitted to moving into a friend's closet at one point.
Although it didn't earn him any friends among other sharks, Kevin O'Leary quickly backed out, stating that the company was not worth what the siblings were asking. However, Barbara Corcoran saw potential in the company. After a bit of back and forth, Corcoran said she would take the deal, adding that she wanted a 10% draw any time the siblings withdrew money from the company.
As it turned out, Corcoran's bet paid off, because the company took off after appearing on the show. Sales rolled in almost immediately following the episode airing — so much so that the company couldn't fully keep up with the demand.
The company has seen continued success
According to a subsequent update on "Shark Tank," the company received 12,000 orders after the episode aired, quickly creating a backlog when it came to shipping out its product. Luckily, Jeff and Jennifer Martin knew how to handle such an unprecedented increase in demand. In order to assuage concerns from customers who were unable to immediately receive their popcorn, the Martin siblings offered two incentives to keep their customers patient.
First, they gifted the longest-delayed customers 50% discounts on their initial orders and also offered free shipping for second orders. As a result of the pair's quick thinking in response to the heightened demand, the company was able to expand its business substantially. Less than three months after their episode of "Shark Tank" aired, the Martins saw sales of $1.1 million, meaning their revenues increased a whole 450%. In fact, the Pipcorn company website is quick to note that it has attracted more than a few famous fans, including everyone from Oprah ("the original Pipcorn fan") to Jessica Alba and Kim Kardashian.
The company now has operations on both the East and West coasts, and Pipcorn is sold nationwide. While it is still available to order directly from its website, the company has also partnered with Kroger, Whole Foods, Target, and more in order to distribute snacks nationwide. During the COVID-19 pandemic, the company also embraced an online retail model, opening an Amazon storefront.