Last night on Shark Tank, Mark Cuban invested in a sustainable food startup that sells nutritional bars fuelled on crickets.
Startup Chapul is all about using crickets for their optimal protein.
Chapul founder Pat Crowley sought out $US50,000 for a 5% stake in his business.
All of the investors backed out with the exception of Mark Cuban and Rob Herjavec. Herjavec made an offer for $US50,000 for 20% equity, after initially backing down from the deal, but then Cuban swooped in and claimed his prize of $US50,000 for 10%.
Thanks to Cuban, Chapul Flour is now seriously considering selling the FDA-approved cricket flour to competitors. The plan is to sell the flour at three times what it cost to make, and brand it with “Chapul Flour.”
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