Whatever Happened To JicaFoods From Shark Tank?

Superfoods were all the rage in the 2010s amid claims they provided a surefire way to get healthy. More than a decade later, and despite the never-ending debate on whether the term "superfoods" is real or just a buzzy marketing ploy, many still jump on the bandwagon, believing nutrient-rich foods translate to good health and wellness. Fermented foods, berries, chia seeds, and avocados are the superfoods that get the most spotlight from mainstream media, while lesser-known superfoods rarely carve a path into relevancy. Jicama, the slightly sweet and nutty root vegetable from Mexico that's rich in fiber and antioxidants, is one of the latter. However, business couple Xin Wang and Melissa Colella-Wang believed in jicama's potential so much that they built a company, called JicaFoods, based solely on the tuberous root.

The husband and wife launched JicaFoods in 2015, with jicama chips as their first product. The venture did well initially, even crossing $500,000 in sales. However, stiff competition in the salty snack category stunted their growth and eventually forced them to rethink their strategy. In 2019, they introduced new products: JicaWraps, JicaSticks, and Jica de Gallo (their version of pico de gallo). The switch-up instantly worked in their favor, with JicaFoods closing 2019 with $1 million in sales, followed by $4 million the year after, and a projected $6 million by 2022. Despite the progress, the Wangs wanted to elevate their company further, so they entered "Shark Tank," hoping to land a deal that could take the brand to greater heights.

Xin Wang and Melissa Colella-Wang entered the tank in Season 10, episode 14, which aired in January 2023. The pair was seeking a $300,000 investment for 3% equity. Presentation-wise, the couple did everything to entertain the Sharks; they even brought in a JicaMan mascot while showcasing their flagship product, JicaWraps. The Wangs painted JicaWraps as the healthier alternative to tortillas, saying they contained lower calories and carbs, but were high in fiber. Guest Shark Gwyneth Paltrow agreed that jicama was a superfood, and she even shared that she used it in some of her cookbook recipes. However, such familiarity also drove Paltrow not to invest, since she knew she could make the same wraps on her own.

Other Sharks who did not make an offer were Mark Cuban and Lori Greiner, who also passed on the opportunity to invest in another healthy food product, the MUSH overnight oats, in the previous season. JicaFoods was spending $1.85 to produce each 15-piece JicaWraps pack, which it then retails for $4.99 and wholesales for $2.99. Considering the affordable pricing and the $400,000 profits the company was making, Kevin O'Leary doubted JicaFoods' valuation. Still, he offered the $300,000, but for 9% equity, just to undermine Barbara Corcoran's offer, which was $300,000 for 10% equity and a pro-rata distribution on future profits. After some discussion, the business owners chose Corcoran, as she agreed to lower the equity to 6% and change the pro rata to 3% advisory shares.

In true "Shark Tank" fashion, featured brands and products experience a huge boost in traffic and sales once their episode airs. This is dubbed the "Shark Tank effect," and this usually happens not only to those who have secured investment deals with the Sharks but also to products that have captured the interest of many viewers. For instance, Just The Cheese witnessed a skyrocketing demand for its products despite not landing a deal with any of the Sharks. The company banked on this hype and instant fame to expand its operations and improve its performance on the market, ultimately leading the brand to long-term success. Unfortunately, the opposite happened to JicaFoods.

After landing a deal with Barbara Corcoran at the end of their segment, JicaFoods was supposedly en route to financial prosperity, especially since Corcoran herself assured them that she had the right sales and marketing tactics to scale their brand. However, there's no confirmation that the deal ever closed. JicaFoods does not appear on Corcoran's online list of investments from "Shark Tank." Nevertheless, the "Shark Tank effect" did help the company bring its products to more outlets, including Vons, Pavillions, and Albertsons, on top of Whole Foods and Sprouts. The brand also expanded its product line and introduced more flavors. Beyond this, however, nothing was said about its revenue figures and how it was really performing after its national TV appearance.

JicaFoods is no longer in business. In fact, it hasn't been active for years. Its website is already defunct, though it still shows up in Google Search results. Loading the URL leads to a Shopify notification, saying the store is unavailable. The company has also stopped updating its social media accounts. The last post on its Facebook page was from January 2022. Meanwhile, it hasn't posted anything on its X (formerly Twitter) account. JicaFoods also became inactive on Instagram despite racking up over 8,000 followers on the platform. It's interesting to note that the last Instagram post by the brand is dated February 2023, just a month after its "Shark Tank" episode aired. Comments on its final posts also allude to potential customers struggling to find its products both in stores and online.

All things considered, it appears JicaFoods quietly disappeared without even exhausting its 15 minutes of fame post-"Shark Tank." It's a big mystery how this happened. Both Xin and Melissa Wang still have JicaFoods listed on their LinkedIn profiles, although there's reason to believe that they haven't updated their accounts in a long time. Xin's final post on his LinkedIn teased their appearance on ABC's hit show, prompting some of his connections to congratulate them on the milestone. On the other hand, Melissa hasn't posted anything on her account. It's not clear if the couple focused on other ventures after seemingly folding JicaFoods without telling anyone.