LIFTiD Neurostimulation Shark Tank Net Worth 2023
As of February 2023, Liftid is worth an estimated $20 million, with annual revenue of around $5 million. The company has generated revenue of $6 million in May 2022 and is expected to reach a net worth of $35 million by 2022.
The founder and creator of Liftid is Dr. Theodore Schwartz, who has a net worth of $30 million.
Liftid is a transcranial neuro-stimulation device that improves focus on one’s work. It was founded by Ken Davidov and Alyson Davidov, who appeared on Shark Tank Season 12 Episode 5 in order to get $200,000 funding from the sharks and exchange 10% of the equity.
The device has a rating of 3.6 out of 5 on Amazon and 44% of people have given it a 5-star rating.
What is LIFTiD Neurostimulation? Who are the LIFTiD Neurostimulation’s Founders?
LIFTiD is a device designed to increase attention, memory, and decision-making skills as an alternative to pharmacological stimulants. It uses Transcranial Direct Current Stimulation and is worn on the forehead, similar to headphones.
The device sends a low-level direct current to the dorsolateral prefrontal cortex area of the brain. This approach is supported by over 4000 medical research studies and works by increasing blood flow, improving neurotransmitter release, and stimulating neurons.
The device is designed to replace substances like coffee, sugar, and narcotics. It should be used for no more than 20 minutes each day and costs $149 per unit.
Without the eyewear, the device resembles a virtual reality headset. Ken and Allyson Davidov, the creators of LIFTiD, have a successful track record in software start-ups and real estate.
Previously, the Davidovs developed a product called SpoonTEK, which uses the body’s energy currents to enhance the flavor of cereal.
Ken is currently a partner at RPW Technology LLC, while Allyson is a licensed real estate agent in Briarcliff Manor, New York. The support of Gadgetflow helped increase global awareness and hasten sales of LIFTiD.
LIFTiD Neurostimulation Shark Tank Pitch
Ken and Allyson featured on Season 12 Episode 5 of Shark Tank, seeking $200,000 in exchange for a 10% ownership stake in their company, valuing it at $2 million.
During their pitch, Ken demonstrated a gadget they had developed for a more efficient energy boost. After the pitch, they offered samples to the Sharks and explained how to use the product.
Although the Sharks seemed to enjoy the product, Robert mentioned that he did not feel a caffeine boost, and Mark carefully read the package’s cautions, which stated that there was no medicinal advantage. Ken clarified that the gadget was meant for cognitive improvement.
The product, which cost $22 to produce, was sold for $149, and the pair managed to sell 1240 units. However, Lori did not invest in the product, as she did not invest in products that made promises, and Robert felt that the presentation was terrible.
Daniel did not connect with the product, and Kevin claimed to have a headache, which he attributed to the intense pitch, and therefore declined to invest. Mark felt that the science behind the product was not properly utilized, leading to him declining to invest as well.
Despite not receiving investment on the show, the company managed to sell a significant number of units after the episode aired. As of July 2021, they were still in business and had generated $6 million in sales.
What is Net Worth of LIFTiD Neurostimulation?
LIFTiD has a net worth of $35 million as of 2022.
Who are the Competitors of LIFTiD Neurostimulation?
There are no competitors identified for LIFTiD Neurostimulation.
LIFTiD Neurostimulation Shark Tank Episode Summary
|Shark Tank Episode||Shark Tank Season 12 Episode 5|
|Founder & Entrepreneur||Ken and Allyson Davidov|
|Amount Asked For||$200,000 for a 10% stake in the business|
|Deal: Accepted Offer||No deal|
|The Shark Investor||None|
|Business Net Worth||$2 million valuation|
|Business Status||The business is still in operations|
LIFTiD Neurostimulation FAQS?
What is LIFTiD Neurostimulation?
LIFTiD is a Transcranial Direct Current Stimulation device that was developed as an alternative to pharmacological stimulants to increase attention, memory, and decision making skills.
Who are the founders of LIFTiD Neurostimulation?
Ken Davidov and Allyson Davidov are founders of LIFTiD.
How much were they seeking in the Shark Tank?
Ken and Allyson appeared on Shark Tank Episode 5 and sought $200,000 for a 10% stake in their company. This equates to $2 million valuation.
Did they get the deal from the Sharks?
No. Sharks were unable to invest on LIFTiD Neurostimulation.
Is LIFTiD Neurostimulation still in business?
Yes, LIFTiD Neurostimulation is still in business as of July 2021.
What is the price of LIFTiD Neurostimulation?
The current selling price is $149.00. It has a duration of 20 minutes on just one day, and is suitable for adults over 18 years old.
What is the price of LIFTiD?
The LIFTiD Neurostimulation tDCS Device is available for $149 on the internet. It also includes free shipping, however the product is only accessible in the United States.
How is LIFTiD doing?
LIFTiD was designed by Theodore to be a high-performance gadget that uses Transcranial Direct Current Stimulation (tDCS) to substitute pharmaceutical brain stimulants such as coffee or sugar, as well as any other performance enhancers.
Is LIFTiD legit?
Overall, they are certain that the LIFTiD tDCS Headset has quantifiable good impacts, even if they are insufficient to improve their life.
It does precisely what it’s supposed to do very well: it provides them with passive energy and attention boosts via electrical stimulation.
Is LIFTiD FDA approved?
The LIFTiD Neurostimulation tDCS Device (Manufactured by RPW Technology, LLC) is not a medical device.
The FDA does not currently regulate tDCS devices. The LIFTiD Neurostimulation tDCS device is not intended, marketed, or sold as a treatment alternative for any medical condition or disease.
What is lifted from Shark Tank?
LIFTiD is a headband that contains electrodes. Transcranial Direct Current Stimulation is a technique that employs a tiny electric current to stimulate specific parts of the brain.
It serves as an alternative to pharmacological stimulants such as coffee, sugar, or narcotics.
What is transcranial direct current stimulation used for?
Transcranial direct current stimulation (tDCS) is a type of neuromodulation that employs a continuous, low direct current supplied through electrodes on the scalp.
It was first designed to aid individuals suffering from brain injuries or neuropsychiatric disorders such as severe depressive disorder.
Why is tDCS not FDA approved?
This is because, according to the FD&C Act, FDA-regulated devices include products “intended to affect the structure or any function of the body,” and the FDA has long interpreted the types of claims that wellness and enhancement tDCS companies typically make—such as “increases their attention span” or “activates the motor.
Can tDCS stimulate the hippocampus?
Hippocampal metaplasticity is induced by transcranial direct current stimulation, which is mediated by brain-derived neurotrophic factor. Neuropharmacology.
Is transcranial direct current stimulation (tDCS) a medical device?
Based on the FDA definition of a medical device and the scope of devices controlled, it is reasonable to classify tDCS devices as a Medical Device according to the FDA, whether suggested for medical treatments, diagnostic purposes, wellness aids, entertainment devices, or any other purpose.
Is LIFTiD successful?
LIFTiD has a net worth of $35 million as of 2022. His own goods and marketing generate the majority of his money. His annual salary is around $6 million.
What is their returns policy?
After RPW Technology, LLC approves the return, the purchaser may return RPW Technology, LLC products within 30 days of the date of purchase.
What is their shipping policy?
All in-stock products are normally sent within three business days after payment receipt.
Orders are dispatched through UPS, DHL, and USPS with tracking (where available) and drop-off without signature.
If they choose a delivery option that is not accessible during the checkout process, please contact them. Delivery with signature is available for an extra charge.
How can they contact them?
They can contact them through their website at www.getliftid.com or email them at [email protected]
What is the net worth of Ken Davidov?
Ken Davidov’s net worth is unavailable.
What is the net worth of Alyson Davidov?
Alyson Davidov’s net worth is unavailable.