Caffeindicator Shark Tank Net Worth 2023
Kevin Harrington offered him $200,000 for a 50% stake, but the deal was never finalized. As of February 2023, the company no longer exists. The company valuation was $800,000 during the pitch.
Michael Schiavone pitched his idea for Caffeindicator, a caffeine litmus test sugar packet, in Shark Tank episode 114. He hoped to score a deal of $200k for 25% equity in the business.
What is Caffeindicator? Who is the founder of Caffeindicator?
Michael Schiavone, a Senior Sales Engineer for an industrial automation business from Mount Joy, Pennsylvania, came up with the idea for the Caffeindicator.
He got the inspiration after being served regular coffee instead of decaf and suffering a restless night. This led him to create a coffee testing device, which he called the Caffeindicator.
The Caffeindicator is a water-soluble tester that can be placed in sugar or sweetener packets. It changes color when caffeine is present, allowing users to determine if their coffee contains caffeine or not. Michael Schiavone founded the Caffeindicator and invented the device.
While on a work trip with his wife, Michael stopped for a late-night coffee and ordered decaf to sleep better. However, he was mistakenly given regular coffee, which kept him up all night.
Realizing this mistake was common, Michael decided to create a solution, and the Caffeindicator was born.
Caffeindicator at Shark Tank Pitch
Michael Schiavone appeared on episode 114 of Shark Tank, hoping to strike a good deal for his product, Caffeindicator, which is a caffeine litmus test in the form of sugar packets.
He aimed to make a deal with one of the Sharks, whereby the Shark would help make Caffeindicator a proprietary element of their packaging, allowing one or more sweetener companies to dominate the market on sales to caffeine-averse customers.
Schiavone was seeking a $200,000 investment in exchange for a 25% stake in his company, which was valued at $800,000.
He noted that many people avoid coffee due to medical issues, and even customers who do not use sweeteners would try his product as it is “dynamic, intriguing, and pleasant to share.”
Schiavone planned to grow his $500,000 market share into a $1 billion one, leveraging market share on a global scale.
The Sharks asked if Schiavone had previously approached sweetener companies with his proposal, to which he replied that he had not, and was giving the Sharks the opportunity to “open the door” to discussions.
They also inquired about the manufacturing cost, which Schiavone said would significantly decrease once the packets were mass-produced.
Robert Herjavec questioned whether the testing strip would increase the cost of making the packets by “fractions of cents,” to which Schiavone confirmed.
Kevin O’Leary believed that the success of the product would depend on the “big five” sweetener companies accepting the idea, which Schiavone agreed with, but he also acknowledged the possibility of one of these companies buying the product to “bury it” and prevent competitors from obtaining the technology.
Barbara Corcoran questioned whether people were truly concerned about the caffeine content in their drinks, while Daymond John agreed with her and went out.
Herjavec made an offer to pay Schiavone the $200,000, but in exchange for a 60% stake and a deal with a sweetener firm.
Kevin Harrington jumped in with a $200,000 offer for a 50% stake with the same condition. O’Leary eventually made an offer, but Schiavone had already accepted Harrington’s offer.
Despite the deal, Caffeindicator never took off. Although there was some initial interest in the product in various special interest publications, Schiavone and the media fell silent, and the sweetener companies did not seem to find the innovation attractive.
It’s possible that the technology was purchased by a company to “hide it,” and the company is no longer operational as of January 2022.
Net Worth of Caffeindicator
The company valuation was $800,000 during the pitch, since then the company went out of business and hence the company net worth is not available.
Caffeindicator FAQs
What is Caffeindicator?
Caffeindicator is a caffeine indicator tester that can be used to determine if any caffeinated beverage contains decaf.
It is somewhat similar to a litmus test that is used in the home to test for acidity or alkalinity (pH) of water or other liquids.
In essence, it is a tester that is inserted into sugar or sweetener packets and changes color when caffeine is present.
Who is the founder?
The founder is Michael Schiavone of Mount Joy, Pennsylvania.
How much was seeking on Shark Tank?
Schiavone was asking for $200,000 in exchange for a 25% stake from the Sharks. He claimed this valued the business at $800,000.
Did he have the deal?
Yes, he did have the deal. The Sharks made an offer of $200,000 for 50% stock shares firm, but the deal was never closed.
Is Caffeindicator still in business?
No, Caffeindicator is no longer in business. The company is no longer operating as of January 2022.
Where was Caffeindicator located?
Caffeindicator is based in Mount Joy, Pennsylvania.
Where can I find Caffeindicator?
Caffeindicator is no longer in business, and it’s not available for purchase online.
What was Caffeindicator pitch on Shark Tank?
In Shark Tank episode 114, Michael Schiavone hopes for a good deal for Caffeindicator, his caffeine litmus test sugar packets.
Was Caffeindicator a scam?
No, Caffeindicator wasn’t a scam. The product was viable, but the company didn’t take off, and is no longer in business.
What is Decaff coffee?
Decaff coffee is coffee without caffeine. It contains no caffeine whatsoever. Often people who have had issues with heart palpitations and/or insomnia from drinking caffeinated beverages switch to drinking Decaff coffee.
Was Caffeindicator safe for consumption?
Caffeindicator packets are safe for consumption, and innocuous to both humans and animals. Caffeine is an alkaloid, which is present in a variety of plants such as cacao beans, coffee beans, tea leaves, cola nuts and kola nuts.
It’s a stimulant that causes its effects by blocking the action of adenosine at cell membranes. It makes it so that your brain has more important things to focus on than sleep or heart palpitations.
Was Caffeindicator approved by FDA?
No, Caffeindicator wasn’t approved by FDA. It was an idea, and there was no proof that it would be successful sans FDA approval.
What is caffeine?
Caffeine is a stimulant drug naturally found in coffee, tea, kola nuts, cocoa beans and Guarani plants. Caffeine is most commonly used to treat chronic pain, sleep issues and general fatigue.
It also helps to reduce blood pressure, headaches and depression. It can be found in natural pills and drinks as well as it can be found in energy drinks and some alcoholic beverages such as coffee liqueur.
Where Michael Schiavone now?
No, Michael Schiavone is currently no longer associated with the product.
What is the net worth of Michael Schiavone?
The net worth of Michael Schiavone is not available.
