Knife Aid Shark Tank Net Worth 2023
As of 2023, Knife Aid’s net worth is estimated to be $2 million. The company provides a mail-in knife sharpening service that allows customers to send their knives to be sharpened by expert craftsmen.
The founders, Mikael Soderlind and Marc Lickfett, appeared on Shark Tank seeking an investment of $400,000 for 15% of the company.
Lori Greiner and Rohan Oza teamed up to offer them $500,000 for 20% equity, which the Knife Aid team accepted.
Despite reports that the deal with Lori Greiner and Rohan Oza never closed, Knife Aid has continued to do well and make great sales.
According to some reports, their annual revenue is around $2 million and continuing to grow.
While one source estimated their net worth at $10 million valuation for the firm in 2023, this appears to be an outlier as all other sources estimate it at $2 million.
In conclusion, as of 2023 Knife Aid’s net worth is estimated at $2 million. The company provides a mail-in knife sharpening service that has been successful since its appearance on Shark Tank.
Despite reports that the deal with Lori Greiner and Rohan Oza never closed, Knife Aid has continued to do well and make great sales.
What is KnifeAid? Who is the Founder of KnifeAid?
KnifeAid is a company that offers a hassle-free knife sharpening service by mail. This Swedish-founded company, created by Marc Lickfett and Mikael Soderlindh, provides customers with a free, insured, and trackable Knife Aid envelope for sending in their knives to be skillfully sharpened and returned by mail.
The process of getting your knives sharpened is simple. All you need to do is place your order online and you’ll receive a knife-proof envelope in the mail.
Once you have the envelope, simply insert your knives and send it to their California location.
The company will then send the knives back to you once they have been sharpened, a process that usually takes between 3 and 9 days, depending on where you live in the United States.
The pricing for their service is $89 for sharpening seven knives, which equates to $12.71 per knife.
However, the cost per knife decreases as you have more knives sharpened. KnifeAid also sharpens a wide range of knives, including pocket knives, steak knives, cleavers, and scissors.
Knife Aid Shark Tank Pitch
Knife Aid made a lasting impression on the investors of Shark Tank with their mail-in blade-sharpening service, which has gained widespread attention since their notable appearance on the show.
Despite being experts in digital marketing, founders Marc and Mikael are looking for a Shark who can provide assistance with channel and packaging ideas for the American market, allowing them to expand and meet demand.
During their appearance on the show, the entrepreneurs were seeking a $400,000 investment for a 15% equity in the company, with Sharks Lori Greiner, Rohan Oza, Kevin O’Leary, and Barbara Corcoran all interested in investing.
Greiner offered $200,000 in cash and a $200,000 line of credit in exchange for a 20% ownership stake in the company, but after a fierce bidding war, Rohan and Lori partnered up to offer $400,000 for a 20% share, while Kevin and Barbara made a joint offer of $500,000 for a 20% stake.
After deliberating in the hallway, Lori became impatient and went to convince the founders to accept her offer. The other Sharks followed suit, and eventually, the founders agreed to Lori and Rohan’s final offer of $500,000 for a 20% stake in the company.
The episode featuring Knife Aid aired during Season 11 of the ABC reality show in October 2019. Since then, the company has generated total sales of at least $6.9 million, charging $69.00 for their blade-sharpening service for five blades.
Knife Aid FAQS
What is Knife Aid?
Knife Aid is a knife-sharpening-by-mail company that combines traditional craftsmanship with cutting-edge sharpening technology.
Who Is Knife Aid Intended For?
While Knife Aid serves everyone who owns a knife, its major target market is anyone who work in a home or commercial kitchen.
How long does shipping take?
It is not a 24-hour service, and delivery might take up to a week.
What do you hope to get out of the box?
Their unique mail-in knife sharpening service kit includes an envelope with pre-paid postage, a shipping label, and protective sleeves for 5 blades.
How can I tell if Knife Aid is safe?
The shipment is completely traceable and insured.
What is the price of a knife?
The price varies per the number of knifes. These are the prices
- 4 knifes cost $59( $14.75) for a knife
- 5 knifes cost $69 ($13.80 for a knife)
- 7 knifes cost $89 ( $12.71 for a knife)
- 10 knifes cost $119 ($11.90 for a knife)
- 14 knifes cost $149 ($10.64 for a knife)
You place your order online and will receive a knife-proof envelope in the mail.
What was their initial business venture?
Sodelindh is a co-founder of the Swedish clothing firm Happy Socks.
What was the requirement?
They required a Shark to assist them with packaging tactics in the American market, as well as a network of contacts to help them grow their firm.
How much was Knife Aid worth?
They estimated the net worth to be $10 million valuation for the firm.
What was the net profit of the company?
The entrepreneurs revealed that they had made $37,000 in net profits just a month before shooting the episode.
What’s the ask?
Soderlindh and his co-founder Marc Lickfett appeared on Sunday’s edition of the ABC reality show, asking for $400,000 in exchange for 15% of their Malibu-based company.
What’s the deal?
Lori and Rohan match Kevin and Barbara’s offer in the hallway, and the Knife men complete the transaction with Lori and Rohan for $500,000 for 20%.
Is Knife Aid still in business?
The firm is still in operation as of June 2021, with an annual revenue of $2 million.
What are your other ventures?
Soderlindh has also worked for Happy Socks, a Swedish online sock shop, for 11 years.
When was Knife Aid tank shark aired?
Mikael Soderlindh and Marc Lickfett pitched their Knife Aid, their mail-in knife sharpening business, in Shark Tank episode 1105.
What should I do if I want to send a knife to Knife Aid?
You will get free, insured, and trackable Knife Aid envelope to send your knives.
How can I fix the edges of my knives?
Guaranteed, their professional knifesmiths will skillfully restore those edges and make them sharper than the day you got them.
What exactly was the surprise?
“Having four Sharks chasing after us into the corridor is something I would never have thought of,” the company’s co-founder Mikael Soderlindh stated at the time.
What are the Best Knife Aid Alternatives?
D&R Sharpening Solutions, KySharp, Art of Sharp and RazorEdgeKnives, and Seattle Knife Sharpening are the top five Knife Aid alternatives.
What if I’m unhappy with my knife sharpening kit?
It is Risk-Free: They make sure you’ll enjoy our knife sharpening kit that we’re offering a money-back guarantee on every order!
What is the first time you’ve ever seen Shark Tank?
One such incident occurred in Episode 4, which aired on October 20, when not one, but four sharks followed an entrepreneur couple down the hallway in order to convince the duo to accept their investment and consummate a transaction outside of the tank for the first time.
Having four Sharks racing after us into the hallway is something I would never have imagined,” says Mikael Soderlindh, co-founder of Knife Aid, a direct-to-consumer knife-sharpening business.
What do customers do?
Customers only need to ship their dull knives to the firm, and they will sharpen them and return them in 10 days or fewer.
