Rapid Ramen Cooker Shark Tank Update

The solution to the problem of ‘instant noodles not being so instant’ is Rapid Ramen Cooker. The cooker allows the user to cook ramen noodles in the microwave oven with less water and at half the time. The cooker is sold online and is a great way to save money and time for people who are always in a rush, especially students.

Rapid Ramen Cooker was started by its founder a year ago before he came on the Shark Tank, which says it is the world’s fastest and easiest way of making noodles. Rapid Ramen Cooker can be brought online and can also be bought from shops around the world. It is also available on QVC for $17.16 and the same pack of two is available on Amazon at the rate of $12.99.

Rapid Ramen Cooker at a Glance:-

IdeaRapid noodle Cooker
FoundersChris Johnson
Asked For$300,000 for 10%
Accepted Deal$150,000 for 15% +$150,000 as loan
SharksMark Cuban
Business statusIn business
Episode No.Season 5, Episode 3
WebsiteRapid Ramen Cooker
Buy on AmazonBuy Now!

Index:

Who was the founder of Rapid Ramen Cooker?

Chris Johnson is the founder of Rapid Ramen Cooker. Chris Johnson is a UC Davis graduate. His invention has cut down a load of college students and budgeted Chef masters to cook their foods at half the time and with less water. Chris also claimed that it is the fastest and the easiest way to cook Ramen noodles. Johnson has a future vision to become the biggest whale in his segment.

Did Rapid Ramen Cooker get a deal on Shark Tank?

Rapid Ramen Cooker founder Chris came on the show with a very shy trait, but soon he booms out his real and confident Chris. Chris asked for an investment of $300k in exchange for 10% of the company. He needed this investment to fill his inventory as he had sales of $160k before his appearance on the show and had many orders in his hand. Kevin finds the product to be a fad, but still gave an offer of $300 k for $1.10 per unit royalty and a perpetuity of $0.5 royalty.

Robert Herjavec jumped onto the pitch and gave an offer of $300k for 40% of the company. Chris asked for a moment to make a call to his friend. While he was out, Kevin and Robert had a discussion among themselves. When Chris came back, Kevin and  Robert gave a combined offer of $300 k for 25% of the company along with a 75-cent royalty per unit and 25-cent royalty in perpetuity.

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Chris seemed very upset after hearing that offer and said he would not be giving more than 20% of the equity. Mark Cuban had already gone out, but he came back to deal with an offer of $300 k for 20% equity, but half of the amount would be paid as a loan. Chris gave a counter of 15% equity, accepted the deal and gave Chris his check. If you and your product have an attentive quality, then it will bring back the gone shark.

What happened to Rapid Ramen Cooker After Shark?

Just after the two weeks of their appearance on the show, they have captured the market flawlessly and are selling strongly. After the show, the deal made between Mark and Chris was never closed. Still, Rapid Ramen managed to capture its market in the retail segment and stores like CVS, Walgreens, HEB, and Raleys will all carry Rapid Cooker throughout the nation.  

By the end of 2014, they had made innovations in his product as he made, a cooker for macaroni and cheese, regular noodles, rice, brownies, pizza and oatmeal. Later in 2016, he partnered with Nissin Foods. They have also developed a Top Rapid Ramen Cooker that will be sold in every store all over the world wide.

During the pitch, they asked for a valuation of $30,000. Chris had worked very hard for his cook as he had managed to get the license to get Disney characters for his business ads. After the show, Chris and his Rapid Ramen Cooker made them touch millions and millions very rapidly. The business model of Chris runs as its business name.

Competitors of Rapid Ramen Cooker

  • Gift Magi
  • Michaels
  • Kid Stir
  • Colour your recipes

What is the net worth of Rapid Ramen Cooker?

Rapid Ramen Cooker has an estimated annual revenue of $ 5 million. They have developed a microwave cooker, building a broad product line with cumulative sales without any traditional bank support of over $52 million.

Is Rapid Ramen Cooker still in business?

Rapid Ramen is still in business and doing great as of 2022. They have a total sales of 55 million. As per its online sales, it sells 4 units per minute.

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FAQs:

What is Rapid Ramen Cooker?

The solution to the problem of ‘instant noodles not being so instant’ is Rapid Ramen Cooker. The cooker allows the user to cook ramen noodles in the microwave oven with less water and at half the time. The cooker is sold online and is a great way to save money and time for people who are always in a rush, especially students.

Who founded Rapid Ramen Cooker?

Chris Johnson is the founder of Rapid Ramen Cooker. Chris Johnson is a UC Davis graduate. His invention has cut down a load of college students and budgeted Chef masters to cook their foods at half the time and with less water.

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