Rapid Ramen Cooker Shark Tank Updates 2022: On Shark Tank, What Happened to The Noodle Tray?

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rapid ramen cooker shark tank

What Is Rapid Ramen Cooker?

The Rapid Ramen Cooker is one of the most fundamental kitchen appliances that can drastically alter one’s life. The Rapid Ramen Cooker’s ability to cut the cooking time of instant ramen to three minutes made it a huge hit.

Rapid Brands’ Rapid Ramen Cooker is one of the most popular microwave cooking appliances in the United States. It belongs in the kitchen of every student, working parent, and ramen enthusiast.

The owner of Rapid Brands, Chris Johnson, has always been an entrepreneur. When he was 16 years old, he hosted a birthday celebration for which he charged entrance. This inspired him to launch Sacramento’s first teen dance club, albeit cheekily.

After graduating from college, he worked his way up to become the company’s top recruiter before launching his own business at age 25. He is the current founder and chief executive officer of The Johnson Group and Rapid Brands.

Who Is the Founder of Rapid Ramen Cooker?

rapid ramen cooker shark tank

In 2012, Chris Johnson founded the Rapid Ramen Cooker. Chris Johnson, a graduate of UC Davis, designed the Rapid Ramen Cooker, a device that solves a problem for college students and thrifty chefs.

The cooker permits microwaving a regular package of Ramen noodles in half the time and with half the water. He says that his firm is the quickest and easiest method for preparing Ramen noodles in the world.

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Johnson actually entered a local Walmart and convinced the manager to allow him to sell Rapid Ramen there; he was successful! Since then, internet sales have been brisk, at times exceeding four copies per minute.

What Happened with The Rapid Ramen Cooker Proposal on Shark Tank?

Chris chose to pitch his product on Shark Tank in episode 3 of Rapid Ramen Cooker’s fifth season in order to raise his stock. Chris joined the Tank with a $300,000 offer for a 3 million-dollar-valued 10 percent ownership in his company. He reported exceeding $160,000 in sales and numerous requests to fulfill.

Kevin believes the product is a fad, but he is willing to pay $300,000 in exchange for a $1.10 royalty per unit until his investment is repaid, followed by a $0.50 royalty in perpetuity.

Then, Robert offers $300,000 in exchange for a forty percent stake in the business. While Chris is in the corridor talking to a friend, Kevin and Robert hatch a plot.

Kevin and Robert make an offer of $300,000 for 25 percent equity shares with a 75-cent royalty until their money is returned and a 25-cent royalty in perpetuity upon Chris’s return.

Chris dislikes the offer and states that he will accept no more than 20 percent stock. Mark returns and offers $300,000 for 20% equity shares, with half of the investment treated as a loan. Mark Cuban accepts Chris’s counteroffer of $300,000 for a 15 percent stake in the business. Chris finally left the pitch with an agreement.

What Happened to Rapid Ramen Cooker After Shark Tank?

Rapid Ramen is selling well only two weeks after the conclusion of the event. The week following the program, they were selling 25 per minute. Chris never finalized the agreement with Mark Cuban, but Rapid Ramen is quickly reaching store shelves. Rapid Ramen will soon be available in CVS, Walgreens, HEB, and Relays locations nationwide.

By 2014, Rapid Ramen was widely accessible, and Rapid Brands had created microwave cookers for macaroni and cheese, regular noodles, rice, brownies, pizza, cereal, and steamed vegetables.

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In 2016, Chris partnered with Nissin Foods, the manufacturer of instant Ramen noodles and the Top Ramen brand. Rapid Ramen designed a Top Ramen-branded cooker that will be sold at all Top Ramen locations around the world. Additionally, he has license arrangements with Disney and Nickelodeon to put their characters on his distinctive product. Chris appears to be ascending the ranks!

As of December 2021, the company has an annual revenue of $5 million and lifetime sales of more than $55 million.

Net Worth of Rapid Ramen Cooker

During the Pitch, the Business Was Valued at $3 Million. Since Then, the Company’s Sales Performance Has Been Strong, with projected annual revenue of $5 million in 2021. This justifies the increase in the company’s net worth.

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