LifeCaps Shark Tank Net Worth 2023
The company was valued at $666,667 during and after the pitch; however, due to going out of business in August 2021, its net worth is now unavailable.
While still in operation, the company showed promise to become a successful venture with strong investment from numerous sources.
Unfortunately, this potential could not be realized as the business failed and it is no longer able to provide insight into its financial performance or ultimate value.
What is LifeCaps Survival Pill?
LifeCaps is a food alternative and survival pill supplement that you carry with you and use during situations when food may not be accessible for an extended length of time.
Daryl Stevenett is owner of the firm, he founded in 2008, is the creator of LifeCaps. Daryl has always had a musical background, having played guitar since he was 12 years old, and describes himself as an entrepreneur on LinkedIn.
An otherwise healthy user may survive for up to two weeks on the chewable tablets and water alone, making it perfect for both civilian and military usage. It is also advertised as a nutritional and weight reduction supplement that aids in the onset of alertness.
Who is the founder of LifeCaps Survival Pill?
In 2008, Daryl Stevenett established a company. He has a musical background and has been playing the guitar since he was 12. On LinkedIn, he refers to himself as an entrepreneur.
The idea for Life Caps came to Daryl after he watched a survival TV program about Utah miners who were trapped underground without food for days. Rescuers had to dig through rocks to bring them sustenance while they awaited extraction.
With the goal of creating pocket-sized nourishment, Daryl sought the advice of a friend, Russ Bianchi, who worked as a product formulator for a nutrition bar company.
LifeCaps tablets are made entirely of natural components and do not contain any stimulants. The formula helps your body maintain itself by drawing nutrients from stored fat.
They are not a diet pill, but rather a survival pill designed for use in emergency situations. They are appropriate for people of all ages. Drinking enough water is crucial in any survival situation, including when using LifeCaps.
On the company’s website, Daryl has shared several “life-saving” testimonials that demonstrate the product’s practical usefulness.
He is confident that his invention will eventually become a staple in every bag, glove compartment, and household, ensuring that people are never caught in life-threatening circumstances due to disasters that disrupt food sources.
What Happened to LifeCaps Survival Pill at Shark Tank pitch?
Entrepreneur Daryl Stevenett appeared on Shark Tank’s 15th episode of Season 5 to pitch his meal substitute tablet, LifeCaps, and seek assistance from the Sharks for mass distribution. He asked for $200,000 for a 30% stake in his company, which was valued at $666,667.
During the pitch, Daryl revealed that he had been surviving on LifeCaps for more than a week and hadn’t eaten in eight days. He explained that his background was in music, but he collaborated with a friend in the energy bar industry to develop his idea for a “survival pill” into what is now LifeCaps.
Daryl provided the Sharks with product samples, but Mark Cuban refused to try them. He is notoriously opposed to “wonder” drugs, particularly those related to nutrition.
Daryl clarified that he was not marketing LifeCaps as a diet supplement but as a survival tool. He claimed to have made $400,000 in sales over the last five years.
Lori Greiner questioned Daryl’s accountability, criticizing him for not conducting clinical trials despite his high sales. She opted out of the deal, and Robert Herjavec agreed, calling the product “irresponsible” despite its marketing theme.
Daryl claimed that he was losing a pound per day while using LifeCaps and argued that “people want shortcuts.” However, Daymond John also opted out, stating that he would only be interested if there were clinical trials to ensure safety.
Kevin O’Leary saw no profit potential in the product, stating that it was meant to be a “survival” pill that would sit on a shelf until the need arose. He also opted out of the deal.
In the end, all of the Sharks opted out of the deal, and Daryl left the pitch without securing any investment from the Sharks.
What Happened to LifeCaps Survival Pill after Shark Tank?
Daryl expressed his gratitude towards the Sharks, despite being turned down by them, and considered it an honor to meet them. However, he was able to continue selling his LifeCaps through Amazon and other online merchants, despite not reaching an agreement with the Sharks.
The reviews for the product on Amazon were mixed, with some outdoor enthusiasts finding the tablets useful, while others claimed they did not suppress appetite and were not effective as a diet strategy.
As of August 20, 2021, Life Caps is no longer in business in the United States, with the website being non-functional. Daryl faced challenges in obtaining significant funding from investors, partly due to the lack of substantial testing, leading to the discontinuation of manufacturing the tablets.
The name rights of Life Caps seem to have been acquired by REJ Diamond Pharmaceutical, a subsidiary of the Philippine corporation Diamond Laboratories. The product is no longer available on Amazon, and the website is not operational anymore.
Net Worth of LifeCaps Survival Pill
The valuation of the company was $666,667 during and after the pitch. As of August 2021 the company went out of business and hence the company net worth is unavailable.
LifeCaps Survival Pill FAQs
What is LifeCaps Survival Pill?
LifeCaps is a food substitute and survival pill supplement that you take with you and use in situations when food may be inaccessible for an extended period of time.
Who is the founder?
Daryl Stevenett is the founder of LifeCaps Survival Pill.
How much was asking on Shark Tank?
Daryl was asking for $200,000 for 30% stake of his company at value of $666,667.
Did he have the deal?
No, Daryl did not have the deal.
Is LifeCaps Survival Pill still in business?
No, in August 2021 the company went out of business and hence the company is no longer active.
What is the LifeCaps Survival Pill’s website?
LifeCaps website is unavailable.
How can I get LifeCaps Survival Pill?
LifeCaps is no longer on Amazon, so one cannot buy them anymore.
What is the company’s mission?
LifeCaps aims to provide a means for self-sustenance in times of difficulty.
How does LifeCaps Survival Pill work?
LifeCaps work by pulling nutrients from the body’s stored fat. The body will therefore use up its stored fat for energy, rather than the body’s own muscle tissue; the protein in muscles is what triggers the feeling of hunger.
The body will also absorb water from LifeCaps, enhancing hydration and aiding in digestion.
Was LifeCaps Survival Pill legit?
Yes, LifeCaps Survival Pill was legit.
Was LifeCaps Survival Pill having any side effect?
LifeCaps does not have any side effect.
What are LifeCaps Survival Pill ingredients?
LifeCaps Survival Pill contains: powdered protein, powdered carbohydrates, vitamins and minerals, flavorings and water.
Was LifeCaps Survival Pill safe for human consumption?
Yes, LifeCaps Survival Pill is safe for human consumption.
Have you heard about any Crowdfunding for LifeCaps Survival Pill?
No, there isn’t any Crowdfunding project for LifeCaps Survival Pill.
Who is Daryl Stevenett?
Daryl Stevenett is an entrepreneur who serves as the founder of LifeCaps Survival Pill.
What is the net worth of Daryl Stevenett?
Daryl Stevenett net worth is estimated at $700,000.
