Cheek’d Shark Tank Net Worth
Cheek’d appeared on Shark Tank with a valuation of $1 million. As of 2022, the net worth of Cheek’d be $3 million. The company still operates with annual revenue of $1 million.
Lori Cheek, the founder, did not receive an investment from the sharks, but her card-based dating service is still active and costs $20 for a “deck” of cards and $10 per month to keep a user’s code and profile active.
What is Cheek’d and Who is the founder of Cheek’d?
Cheek’d is an online dating platform that involves an in-person encounter before moving the interaction online. Subscribers would complete an online form and receive personalized business cards with unique one-liners.
These cards could be handed out in social situations, and if the recipient liked the message, they could enter the card’s unique code on the Cheek’d website to view the sender’s online profile. If they both liked each other, they could continue the conversation in a private chat room on the platform.
Lori Cheek founded Cheek’d in New York City in 2010 after working for several furniture-related companies and rising to the position of senior account manager. She holds a Bachelor of Science in Architecture from the University of Kentucky and currently serves as the company’s CEO.
Cheek’d offered both paid and free options. For $25, subscribers received a set of 50 business cards with a word, an internet code, and a hyperlink to their profile. Recipients could view the sender’s profile. In addition to the card purchase, there was a $9.95 monthly membership fee.
The service was discontinued, but Lori Cheek continued to pursue other entrepreneurial ventures and speaking opportunities through her personal website.
Cheek’ Shark Tank pitch
During episode 18 of season 5 of Shark Tank, Lori Cheek presented her business idea to the Sharks in search of financial assistance and IT expertise. The concept behind Cheek’d came from a friend who successfully asked out a woman by writing “Would you want to have dinner?” on the back of a business card.
Cheek’d offers cards with a pickup line on one side and a unique code on the other, allowing users to connect with potential partners discreetly.
Users pay $20 for a deck of Cheek’d cards and $10 each month to keep their code and profile current. At the time of the pitch, Cheek’d was available in 47 states and 28 countries, with 4,500 active members, 1,125 of whom were paying.
Despite the interest shown by some Sharks, including Robert Herjavec, Barbara Corcoran, and Kevin O’Leary, Cheek’d ultimately did not receive any investment.
The Sharks were concerned about the business model and its potential profitability, and Mark Cuban believed that Lori was delusional about the amount of money she had spent on the website. As a result, Lori left the stage without a deal.
However, Lori rebranded and rebuilt Cheek’d within a year and released a new dating app that uses low-energy Bluetooth technology to eliminate missed connections.
The app alerts users when someone who meets their criteria is within 30 feet of them, allowing them to connect in real-time. The app was sued for patent infringement in 2017, but the case was eventually dismissed. As of December 2021, Cheek’d be still in operation with annual revenues of $1 million.
Net Worth of Cheek’d
The company was valued at $1 million during and after the pitch since the company still operating with annual revenue of $1 million in 2021. This justifies that the company’s net worth has increased.
What is Cheek’d?
Cheek’d is an online dating app that makes use of Bluetooth technologies to take single people out on dates without being lewd.
Lori Cheek owns the company.
How much was asking on Shark Tank?
Lori was seeking for $100,000 in exchange for 10% equity.
Did she have the deal?
No, she did not get the deal from sharks on the show.
Is Cheek’d still in business?
As of December 2021, Cheek’d still in business with annual revenue of $1 million.
What is its worth?
The company is valued at $1 million before and after the pitch. Money earned through the company has increase.
How many states are using Cheek’d?
Cheek’d have been released in 47 states and 28 countries.
How does it work?
Users are able to place their code into the back of the Cheek’d card and then send it to another person. The app would display a notification if the recipient was within 30 feet of him or her.
Where is Cheek’d?
Cheek’d is based in New York City.
Is Cheek’d safe?
The app places a big focus on safety to users. It’s also based on the low-energy Bluetooth function which enables users to know if someone is near to them.
When does Cheek’d launch?
Cheek’d app released in 2010.
What is the Cheek’d plans?
Cheek’d provide four plans: One Month at $10, Three Months at $25, Six Months at $40.
Is Cheek’d profitable?
Cheek’d is profitable with annual revenue of $1 million.
Is Cheek’d works?
Cheek’d works with 4,534 active members, with 1,121 users who pay for the service.
Does Cheek’d make money?
The app generates revenue by charging $10 per month for subscriptions. They also sell shares on their website at varying prices.
What do you get in Cheek’d subscription?
As stated by Lori, user can be able to contact any other member of the platform within 30 feet of them via Bluetooth technology.
What is Lori Cheek’s net worth?
Lori Cheek’s net worth is unknown.