Chirps: Here's What Happened After Shark Tank
Eating bugs to save the planet? That's precisely what entrepreneurs Laura D'Asaro, Rose Wang, and Meryl Natow aimed to do when they launched their Chirps Chips products in 2013 in hopes of creating a tasty snack that is simultaneously affordable. After a few years of getting their start-up off the ground, the founders were able to get a spot on "Shark Tank" where the group hoped that they could get some of the country's sharpest investors to get behind their novel company.
Chirps premiered on "Shark Tank" in 2017 on Season 8, Episode 14, with investors Mark Cuban, Kevin O'Leary, Barbara Corcoran, Lori Greiner, and Chris Sacca as the Sharks. The founders of Chrips Chips surprised the Sharks right off the bat when Laura D'Asaro burst into the scene wearing a cricket outfit after Rose Wang briefly introduced the company. Although the Sharks were originally hesitant about the product, D'Asaro and Wang were able to shift their minds favorably.
What happened to Chirps on Shark Tank?
Rose Wang and Laura D'Asaro went on the show with an initial pitch of asking the Sharks for a $100,000 investment with 7% equity in the company. Chirps' third founder, Meryl Natow, didn't appear on the show for undisclosed reasons. Originally the Sharks had concerns about Chirps' Chips not being substantially different from other snack products on the market, given that the two major ingredients in the chips were corn and beans, only then followed by cricket flour.
Barbara Corcoran was also thrown off by the smell of the product, but Wang and D'Asaro were by no means discouraged, and they trudged onward. The founders of Chirps explained that they already had deals made with museums, zoos, aquariums, and theme parks that would give their product more potential to expand than they thus had in the supermarket. The Sharks were also surprised when they heard that Chirps had garnered more than $200,000 in pitch contests, which has been where they got the majority of their capital.
Wang and D'Asaro also explained their vision of expanding their products by using cricket flour in other food items, hoping to one day be a competitor with whey protein. By then, Mark Cuban was sold and offered a $100,000 investment with 20% equity in the product. D'Asaro looked daunted by the offer, but Wang countered by offering 15% equity for the same $100,000, which eagerly Cuban accepted.
Chirps After Shark Tank
Unlike many on-air "Shark Tank" agreements, Cuban's deal with Wang and D'Asaro actually materialized, and he was able to help them with distribution, and the company still maintains a level of success — although the biggest problem facing the brand is Americans' lack of ease when eating bugs. Over 2 billion people worldwide eat bugs as part of their cultural diets, which is what gave Wang and D'Asaro their eureka moment of trying to push American culture in that direction as well.
After "Shark Tank," the company also expanded to natural food markets, and Chirps products can be found in nearly all 50 states except Hawaii — that's right, Alaskans! With no official data released, it's impossible to know precisely what the equity or projected growth of the company is (or was). Still, Mark Cuban is currently an investor in the venture. Perhaps not surprisingly, based on the founders' vision for Chirps, the company didn't just stick with chips, and today you can find multiple different products on Chirps' website.
Chirps is still in business
On Chirps' Facebook business page, the product has 4.4-star reviews with almost 6,000 followers; however, not much activity has occurred on the page since February 2022, making the status of their business unclear. The company's website is still up and running, but they no longer sell the Chirps Chips that were originally marketed on "Shark Tank." Instead, customers can buy cookie mix or whole roasted crickets in a variety of flavors ranging from Chili Lime to Chippin' Cheddar, and even to "Bugbeque," all of which are gluten-free and nut-free.
Chirps also sells its merchandise including t-shirts and even two children's books that are about founders Rose Wang and Laura D'Asaro's journeys as entrepreneurs through the fictional characters of Hallie and Jaye. If you're looking to make foods with cricket flour, you can also buy 11 pounds worth of it from their store. However, their selection may change, as previously they sold cricket-powder protein supplements and other products that are no longer on sale on their website.
Where Chirps is now
Unfortunately, it is unclear whether Chirps Chips has any plans to expand its company or how well it is doing financially. Since starting Chirps Chips, Laura D'Asaro, and Rose Wang made it in Forbes 30 Under 30 magazine for their business, and D'Asaro even went on to interview with ABC To CEO where she advised on how to help employees be the best they can be, how to stay motivated, as well as acknowledging your previous mistakes. She emphasized the need to "lean into your failures" as a business owner. Wang suggests that the best way to motivate others is by truly paying close attention to them — and her advice to other food start-ups? "Grow strategically and be smart with your money." It makes sense that all risk needs to be tempered not just by potential reward, but the likelihood of seeing that reward come to fruition (via Natfluence).
D'Asaro has also been involved with some real estate deals, as was seen in a post from Seattle Real Estate broker Jack Duggan's Instagram page. Meryl Natow, the other founder of Chirps Chips, is now a capital investor and advocate for just housing in New York City. But even though future products Chirps plans to release are unknown, one thing can be said for certain though: The crickets probably aren't too happy about it.