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 happens 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 Net Worth

Potato Parcel’s 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 Shark Tank Updates

Potato Parcel is a business that allows people to send potatoes with customized messages or pictures of their faces for $9.99 and up. The business was pitched on Shark Tank in 2016 by Riad Bekhit and Alex Craig, who was seeking $50,000 for 10% of their business.

Kevin O’Leary invested $50,000 for a 10% stake in the company and a $1 royalty until $150,000 was paid back.

Since appearing on Shark Tank, Potato Parcel has continued to grow and expand. In 2018, the company had sold 70,000 more potatoes since its Shark Tank appearance.

As of 2021, Potato Parcel is estimated to be worth $1 million, having sent over 70,000 parcels and generating over $700,000 in revenue. The company is still in business and allows customers to send anonymous messages via potatoes

Potato Parcel has also expanded its marketing efforts by encouraging customers to share videos of themselves receiving their potatoes on social media and by creating an international “Ambassadors” program.

The company has been successful in its unique niche market and continues to thrive years after its Shark Tank appearance.

Potato Parcel Shark Tank Table Summary:

INFORMATION	DETAILS
Business Name	Potato Parcel
Founder(s)	Alex Craig
Type of Business	Delivery service
Product	Potatoes inscribed with personalized messages or images
Year Established	2015
Year acquired by Riad Bekhit	2015
Shark Tank Appearance	Season 8, Episode 6
Deal with Kevin O’Leary	$50,000 for 17.5% stake in the company and a percentage of Alex’s royalties
Net Worth (as of early 2021)	$1 million
Revenue (2017-2021)	Over $700,000
Annual Income (as of May 2021)	Between $600,000 and $700,000
Competitors	Postcards Plus
Marketing Strategies	Encouraging customers to share videos of themselves receiving their potatoes on social media and creating an international “Ambassadors” program
Additional Information	The company generates over $10,000 in monthly sales and may be seeking marketing assistance from a Shark.

Potato Parcel FAQS

What Is Potato Parcel Shark Tank?

Potato Parcel is a quirky business that sends anonymous messages on potatoes. The idea was born in 2015 when Alex Craig saw a picture of potatoes with stamps on them.

He bought some potatoes and pens, set up a website, and started marketing. In 2016, Riad Bekhit and Alex Craig went on Shark Tank to pitch their business. They explained their business and handed out samples, and the Sharks were initially skeptical.

However, they were impressed when they learned that Potato Parcel had already sold over 12,000 potatoes and made $215,000 in sales since its launch in May 2015. Kevin O’Leary made an offer of $50,000 for 10% equity and $1 royalty until $150,000 is paid back.

Potato Parcel is still going strong six years later. In 2018, Riyadh Bekhit told CNBC that the company had sold 70,000 more potatoes since its Shark Tank appearance.

As of 2021, Potato Parcel is worth an estimated $1 million and has already sent over 70,000 parcels. The company is still selling customized messages on potatoes and donating one potato to local food shelters for every potato sold.

How Does Potato Parcel Shark Tank Work?

Potato Parcel is a quirky business that sends anonymous messages on potatoes. Customers go online and craft their message, then Potato Parcel ships the message, written on a potato, to the recipient.

The business was founded in May 2015 by Alex Craig, who was inspired by a viral Reddit post of a potato covered in stamps. Craig set up a website and started marketing the business. In 2016, Riad Bekhit bought the business for $42,000 from Craig.

In Season 8 Episode 6 of Shark Tank, Alex Craig and Riad Bekhit pitched Potato Parcel seeking $50,000 for 10% of their business. They explained their business and handed out samples to the Sharks.

Each potato had a picture of the Sharks on it, except for Mr. Wonderful’s, which said “There is nothing proprietary about this”. The Sharks were skeptical until they heard the sales figures – Potato Parcel had sold over 12,000 potatoes since the business started, making $213,000.

The Sharks were impressed and Kevin O’Leary made an offer of $50,000 in exchange for 10% equity and a royalty-sharing agreement that pays him $1 per potato sold. Bekhit and Craig accepted the offer.

Since appearing on Shark Tank, Potato Parcel has sold over 70,000 potatoes, with yearly sales topping six figures. The business now employs seven people full-time to create and sell potato designs.

Customers can still order a potato with a customized message or picture of their face for $9.99 and up. For every potato sold, Potato Parcel also donates one to local food banks.

What Happened To Potato Parcel After Shark Tank?

Potato Parcel is a business that allows people to send potatoes with customized messages or pictures of their faces for $9.99 and up. The idea for Potato Parcel came from Alex Craig, who saw a picture of potatoes with stamps on them and decided to set up a website.

In 2016, Craig and Riad Bekhit appeared on Shark Tank and asked for a $50,000 investment in exchange for a 10% stake in the company. Kevin O’Leary agreed to invest $50,000 for a 10% stake in Potato Parcel and a $1 royalty until $150,000 was paid back.

After appearing on Shark Tank, Potato Parcel continued to grow. In 2018, Bekhit reported that the company had sold 70,000 more potatoes since its Shark Tank appearance and that yearly revenue topped six figures.

Despite having competitors in the potato mail business, such as Mail A Pudding, Potato Parcel is still going strong six years later.

Is The Potato Parcel Shark Tank Still In Business?

Yes, Potato Parcel from Shark Tank is still in business. The company allows people to send anonymous messages via potatoes with customized messages or pictures of their faces.

The business was pitched to the show’s investors by Riad Bekhit and Alex Craig, and they received an investment of $50,000 for a 10% stake in the company from Kevin O’Leary. Since then, the company has accumulated a net worth of $1.75 million and has sold over 70,000 potatoes.

Potato Parcel has expanded its product line to include stickers and different types of potatoes for different holidays. The company has competitors in the potato mail business, such as Mail A Pudding, but it is still going strong.

The Shark Tank Blog provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show, and it confirms that the deal between Potato Parcel and Kevin O’Leary closed and that he thinks it’s one of the best deals he ever made.

In conclusion, Potato Parcel from Shark Tank is still in business and has expanded its product line to include stickers and different types of potatoes for different holidays.

The company has competitors in the potato mail business, but it is still going strong and has accumulated a net worth of $1.75 million.

What Is The Current Valuation Of Potato Parcel After Shark Tank?

Potato Parcel appeared on Shark Tank in 2016, where the founders, Alex Craig and Riad Bekhit, asked for $50,000 for 10% equity in their company, which they valued at $500,000. Kevin O’Leary offered them the deal, which included a $1 royalty until $150,000 was paid back.

Since then, Potato Parcel has grown significantly. In 2018, a CNBC update revealed that Bekhit was already bringing in a six-figure salary. As of 2021, Potato Parcel is worth an estimated $1 million, having already sent over 70,000 parcels and making over $215,000 in sales.

Potato Parcel’s net worth is above $1 million as of 2022. This source also states that the founders have a net worth of $7.2 million as of 2022. Another source estimates Potato Parcel’s net worth to be $1.75 million.

In conclusion, the valuation of Potato Parcel after Shark Tank is not explicitly stated in the search results. However, it is clear that the company has grown significantly since its appearance on the show, with estimates of its net worth ranging from $1 million to $7.2 million.

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.