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‘Shark Tank’ judges passed on these brothers despite ‘impressive’ pitch — now their food brand is worth $10M

This puffcorn disruptor has gone from startup to a $10M brand in just four years; here's their impressive story

From Scrub Daddy to Bombas, there have been businesses that took off all thanks to 'Shark Tank.' Adding to the list is a puffcorn startup that managed to impress the Sharks with their numbers. Although Kevin O'Leary enjoyed the taste of the product, he had his own reservations and decided to back out. Despite the tough market competition, it became a success story. So much so that they went on to make a $10 million brand in just four years, becoming one of Shark Tank's standout success stories.

The Siblings co-founders Steve and Kevin Atieh, along with Allison Lin, appeared on 'Shark Tank' episode 1514, seeking $300,000 for 3.5% equity for their brand, Like air puffcorn, per Shark Tank Blog. Launched in 2020, the founders of Like Air shared the inspiration and process behind their healthy puffcorn snack. Lori Greiner and O'Leary were highly impressed by Like Air Puffcorn, with Mr. Wonderful calling it one of the best low-calorie snacks he’s seen on the show.

When Greiner asked what they needed from a Shark, Allison responded, "It's a really competitive market and we need the partnership." Their sales had shown strong growth with  $100,000 in 2020, $2.5 million in 2021 (breaking even), and over $5 million in 2022, though they lost $190,000 due to salaries, shelf placement, and distribution costs. They were also in Kroger and were working to get into Albertson’s.

For 2023, they projected over $10 million in sales with a $1 million cash burn. Mark Cuban remarked, "If you’re willing to do that, you must have big ambitions," and asked what’s next. The siblings expressed confidence in fast growth, prompting Cuban to ask, "Is this just a commercial for you?" acknowledging their strong sales momentum. To which, Steve shares that Like Air has been on Kroger shelves for 15 months without ever being pulled. He projected $30 million in sales for 2024, $50 million the following year, and potentially $80 million the year after. 

O’Leary says, "You're impressive," but adds, "I don't get out of bed for 3.5%," and bows out. Soon, both Robert Herjavec and Barbara Corcoran also bowed out. Greiner offered $300,000 for 7.5% non-dilutable equity. Steve countered with 7.5% dilutable, and Greiner returned with 10% dilutable, suggesting Cuban join her and agreed. The founders accepted the deal of $300,000 for 10% equity with both Greiner and Cuban.

In a recent Like Air update interview, founders Allison, Steven, and Kevin shared that business is thriving following their 'Shark Tank' appearance. "We saw success early on with Like Air and aimed to expand it to a national audience," Allison said. Kevin added, "Shark Tank is the perfect experience to do so." While they didn't disclose exact sales figures, the trio reported a "positive impact from the show," including new retail partnerships and increased direct sales from their revamped website, Shark Tank Update.

Steven even confirmed their deal with Cuban and Greiner went through, saying, "The offer from the sharks was accepted during the episode and working with them has been very encouraging." Looking ahead, the team is focused on growing their retail footprint and boosting online orders. "For the first time ever, 100-calorie single-serve bags are available for shipping on our website," Allison shared. In addition, a report from Bakery and Snacks suggested that the startup is now moving ahead with lightning speed and is approaching an impressive $10 million run rate.