KissTixx Shark Tank Update |What Happened to KissTixx after the Shark Tank Pitch?
What is KissTixx?
KissTixx lip balm is a quality lip balm that comes in two complementary tastes for you and your spouse. When the two flavours interact, a chemical occurs that results in a wonderful tingling feeling.
Lip balms are available in a variety of flavours, including Sweet and Sour, Strawberry and chocolate, and Peaches and Cream.
Who is Founder of KissTixx?
Dallas Robinson and Mike Buonomo, who met as Utah Valley University students, own the KissTixx. They create, develop, and market lip balm and cosmetic items for distribution through big retail, e-commerce, and private label channels.
Additionally, they manage and hire staff and oversee business operations, including marketing.
Dallas Robinson and Mike Buonomo, the owners of KissTixx, began by creating beautiful MySpace pages for individuals.
When that proved unprofitable, the young entrepreneurs converted their university dorm room into a makeshift chemical laboratory.
As they explain, some of their motivation came from their desire to kiss all the gorgeous females.
Thus, the product’s objective was to elicit chemistry between couples and to provide a nice experience when two tastes mingled.
Dallas and Mike later created KissTixx, a device that has revolutionized kissing.
This is unsurprising, given KissTixx was designed specifically for kissing. Needless to say, Dallas and Mike have gained more female fans.
They have created some incredible tastes such as Strawberry and Chocolate, Fire and Ice, to name a few.
What happen to KissTixx at the Shark Tank Pitch?
Dallas and Mike entered the Shark Tank season 3 episode 7 in search of $200,000 in exchange for a 20% stake in the firm. This indicates a valuation of $1 million.
They described the product and disclosed that they had generated $80,000 in revenue over the course of a year.
Mark inquired as to the cost of producing one of the lip balms. Dallas informed him that the fee fluctuated between $0.85 and $2, depending on the amount.
When Mark inquired whether it was for a single lip balm, the Dallas informed him that it was for both the lip balms and the box.
Mark then inquired as to the wholesale price of the 4, which Dallas informed him was $3 per unit. The retailers subsequently resold the merchandise at a cost of $5.95 per unit.
Kevin inquired as to the profit margin on the Walgreens order, and Dallas informed him that it would be $337,000. Daymond appeared pleased.
Barbara, who is still reeling from her lip lock with Mr. Wonderful, is unimpressed with the product and opts out.
Kevin believes the value is incorrect, and therefore exits.
Dallas and Mike disclose that they have received a $540K buy order from Walgreens and want funding to expand production.
Mike stated that they sold mostly through their website, but also had KissTixx available in over 100 places at the time.
Mark believes the price is incorrect, but he likes KissTixx. Additionally, he supports the initiative to provide breath spray and gum. He offers $200,000 in exchange for a 40% stake in the business.
Daymond informed the two that Mark had negotiated a better bargain than he had planned. He exited.
Robert raised his eyes and stated that he enjoyed competing and winning against Mark Cuban. Robert evaluated the offer but stated that it was still a greater one than he would have offered. Robert left as well.
Dallas and Mike agree to sign up with Mark, and they exit the Tank confident that they landed a deal and created one of the finest Shark Tank moments.
KissTixx after the Shark Tank Pitch
KissTixx was inundated with orders immediately following the airing of their episode. The increased volume even brought their website to a halt.
The Shark Tank participation boosted their sales and marketing efforts significantly.
After the episode aired, the firm sold well over 5,000 copies. In the months that followed, the boys delivered thousands of samples throughout seven nations.
They utilized Shark Tank to help establish KissTixx as a global brand! KissTixx was one of Mark Cuban’s top bets on Shark Tank to date.
Dallas and Mike are doing well with their firm, and they’re even working on a KissTixx mobile application!
In episode 517, KissTixx receives an update section. They launch their new website with the assistance of Danielle Peck, a country music sensation.
Dallas and Mike will demonstrate their kissing prowess to the world!
Mike Buonomo left the firm in January 2016 and is currently the founder and CEO of E Simplified, a strategic content supplier for aspiring entrepreneurs.
Robinson ceased operations in 2018.
He is presently Executive Vice President of The Kokua Project, a 501(c)(3) non-profit organization dedicated to raising “awareness and funds to support programs that care for and safeguard children in order to offer them a shot at a brighter future.”
Shark Tank Success Update: Kisstixx
KissTixx Net Worth
Dallas and Mike entered the Shark Tank season 3 episode 7 in search of $200,000 in exchange for a 20% stake in the firm. This indicates a valuation of $1 million.
They accepted an offer from Mark of $200,000 for 40% thus bringing valuation to be $500,000.
KissTixx Competitors
There is competitor identified for KissTixx.
KissTixx FAQS
What was KissTixx?
KissTixx is a lip balm which can help generate attraction between couples, or simply those who want to spice up their love life. The lip balm is sold in pairs and contains a different flavour on each side.
Who were the founders of KissTixx?
The founders of KissTixx were Dallas Robinson and Mike Buonomo.
How much were seeking in the Shark Tank?
The pair were seeking $200,000 in exchange for 20% of the company.
Did KissTixx get investment on Shark Tank?
They ended up taking an offer from Mark Cuban for 40% for $200,000. This meant that KissTixx’s valuation was set at $500,000.
Is KissTixx still in business?
The business was shut down in 2018.
What episode of Shark Tank was KissTixx featured?
Dallas and Mike entered the Shark Tank season 3 episode 7.
When was KissTixx on Shark Tank?
KissTixx made their appearance on the episode which aired on, March 2, 2012.
Where can they still buy KissTixx?
They can’t! KissTixx is no longer available for sale.
What happened to KissTixx after Shark Tank?
Following Shark Tank, the KissTixx team accelerated sales by sending emails and samples to over 4,000 contacts, resulting in distribution relationships in 44 countries.
The business has already sent items to 7-8 countries and expects to complete many more deals shortly.
Where was KissTixx located?
They were based in the Salt Lake City Utah United States.
Where are the owners now?
Mike Buonomo left the firm in January 2016 and is currently the founder and CEO of E Simplified, a strategic content supplier for aspiring entrepreneurs.
Dallas Robinson is presently Executive Vice President of The Kokua Project, a 501(c)(3) non-profit organization dedicated to raising “awareness and funds to support programs that care for and safeguard children in order to offer them a shot at a brighter future.
How much was KissTixx sold?
KissTixx was $3 per unit for wholesale. The retailers subsequently resold the merchandise at a cost of $5.95 per unit.
What is the net worthy of Dallas Robinson?
Dallas Robinson’s net worth is unavailable.
What is the net worthy of Mike Buonomo?
Mike Buonomo’s net worth is unavailable.
