Potato Parcel Shark Tank Net Worth 2023
After closing the deal, Kevin deemed it one of his best investments yet; Potato Parcel had grown exponentially, and by 2021 was worth $1 million.
Since appearing on Shark Tank in 2017, the company had sent out over 70,000 parcels and generated more than $700,000 in revenue.
Even now in May 2021, their performance remained impressive, with an annual income of between $600,000 and $700,000.
What is Potato Parcel?
Potato Parcel is a business based in the United States that specializes in delivering potatoes inscribed with personalized messages or images. The company was established in 2015 by Alex Craig, who was previously a mobile app developer.
Customers can create their own message or image, limited to 140 characters, and have it inscribed on the potato, which will then be delivered to the recipient within 24-48 hours.
The cost for a message is $9.99, with additional options for printing photographs or postcards available at extra cost.
The company also offers an option to include a burlap bag for $4.99, and the shipping cost is around $4. The founder claims that the company generates over $10,000 in monthly sales and may be seeking marketing assistance from a Shark.
What happen to Potato Parcel at the Shark Tank pitch?
In October 2015, Riad Bekhit, an entrepreneur from the Bay Area, acquired Potato Parcel from Alex for $40,000 and relocated it to San Bruno, California.
The company, which sells products like the Lump of Coal Potato and Potato Pal, has expanded its shipping operations to several countries.
Following an appearance on the television show Shark Tank, Alex and Riad were offered $50,000 in exchange for a 10% stake in their business.
However, they ultimately accepted a proposal from Kevin O’Leary, which involved him receiving a 17.5% stake in the company and a percentage of Alex’s royalties.
Potato Parcel after Shark Tank pitch
After the deal closed, Kevin considered it one of his best. By 2021, Potato Parcel had grown to be worth $1 million, having sent over 70,000 parcels and generated over $700,000 in revenue since appearing on Shark Tank.
As of May 2021, the company was still performing well, earning between $600,000 and $700,000 annually.
Potato Parcel Net Worth
Potato Parcel net worth is estimated to be $1 million as of early 2021.
Potato Parcel Competitors
Potato Parcel competes with established companies like Postcards Plus, which has generated around $3.1 million in sales.
These companies include Kate Spade, 102, Global Message Services (GMS), Upside Wireless, RainedOut, TeloGo Communications, and Answer America.
Potato Parcel FAQS
Who owns Potato Parcel?
Potato Parcel is owned and founded by Riad Bekhit.
Is it true that potato packages aren’t identifiable?
Is it possible for me to keep my message private? – It is possible! If you want the message to remain anonymous, don’t reveal who sent the potato.
In other words, don’t sign your message with your name.
How much does it cost to ship a potato?
Mailing a potato isn’t so cheap either. Postage can come in at over 4 dollars per spud.
Did Potato Parcel Get a Deal on Shark Tank?
On Shark Tank Season 8 Episode 6, Alex Craig and Riad Bekhit accepted an offer of $50,000 for 10% equity from Kevin O’Leary.
How much does Potato Parcel cost?
For $14.99, you can send a Potato Pal — a potato topped with a photo of someone’s face.
When was Potato Parcel on Shark Tank aired?
Potato Parcel was aired 26th Oct, 2016
How old is Potato Parcel?
Potato parcel was founded in May 2015 by Alex Craig.
Where is Potato Parcel located?
They are located in San Bruno, California.
How do you send a potato parcel?
Upon ordering, your text will be converted into a potato stamp.
Then, your message goes on the outside of the packaging, and inside is a small bag of loose potatoes.
The potatoes are pre-printed with your text and then put in small plastic bags to keep from spoiling.
How many potatoes are shipped at once?
Potato Parcel ships around 100 potatoes per shipment.
Potato Parcel products?
Potato Parcel sells products like potato stampers, which allows customers to stamp photos onto the spuds, and postcards.
They also sell tiny burlap bags in which they can send gifts boxed up in potatoes. All ten of their products cost $9.99 with an additional $4.
Potato Parcel founder?
Alex Craig is the founder of Potato Parcel.
Is Potato Parcel safe to eat?
The spuds are generally safe to eat, but they can still carry diseases.
If you receive a potato like this, throw it away.
Also, make sure any potatoes you eat haven’t been lying around outside for too long, but if they’ve been left in the shade and aren’t over-ripe, go ahead and eat them up.
Is Potato Parcel available in stores?
Potato Parcel is available on Amazon, where you can buy potatoes in bulk for $1.98 each.
When Alex did sold Potato Parcel to Riad?
Alex Craig sold Potato Parcel to Riad Bekhit in October 2015 for $40,000.