Filipino cuisine holds a unique charm that’s very different from traditional American food. The exotic and familiar flavors are becoming popular with the growing Filipino-American community in the U.S. Founded by Jake Deleon, he’s found a promising niche and secured a deal with Daniel Lubetzky. After Shark Tank, Fila Manila is worth an estimated $3 million.
Jake Deleon’s Background
Deleon was born in the Philippines and grew up in New Jersey. He’s a first-generation Filipino-American, so the influence of his motherland is still strong. He experienced first-hand the joy of Filipino gatherings.
Also, one of his parents’ side hustles was cooking Filipino food for friends and family. He helped them out and became familiar with the cuisine at a young age.
Founding Fila Manila
Jake launched his first startup, Original Almond, in 2015, which shut down during the pandemic. The DC entrepreneur felt downhearted, but only for a while, because he felt the Pinoy pride when he read an article about Filipino health workers on the frontlines.
This led to him researching Filipino food and discovering how underrepresented it was in the US. With $1,200, Deleon cooked up three essential sauces for staple dishes. One for adobo, one for kare-kare, and one for caldereta.
In late 2020, he launched Fila Manila on Amazon. It quickly became a top-selling product on the website, garnering interest from Kraft Heinz and Sputnik ATX, who later invested in a seed round.
Entering Shark Tank
With two successful rounds of investments and annual revenue of around $150,000, Fila Manila underwent a massive makeover. They went from jars to more sustainable pouches and squeeze bottles. They revealed the packaging on Shark Tank and were seeking $250,000 for a 5% equity stake. The valuation was too high and Daniel Lubetzky made his feelings clear.
After Shark Tank
Despite the episode just airing, Fila Manila is already benefiting from the infamous “Shark Tank effect”. The episode was watched by over 3.5 million viewers and millions more will see the product through clips on social media. The deal with Daniel should close in the next three months.
Due to their packaging change, the company is in a better position to maximize gross profits from the upcoming boost in sales. Fila Manila should be able to double their annual revenue in 2024.
Deleon’s products are sold in 2,000 stores in 25 states, over the last 18 months this figure has doubled! The founder also estimates the business is growing by 30% to 40% every year at key retailers.
You can buy the products online on Amazon, Umami Cart, Weee, and FilaManila.com. They are also available at stores such as Sprouts, Target, Whole Foods, Meijer, Fresh Thyme, and Mom’s Organic Market.
Prices range from $9.50 to $15 and the business is selling Shark Tank Pack with four sauces and a gift box for $39. The Mild Adobo sauce is their best-selling product on Amazon and has a 3.8-star rating from 261 reviews. Based on the 2020 census, there are 4.4 million Filipino Americans who will love their products.
