Potato Parcel Shark Tank Update | Potato Parcel after Shark Tank pitch
What is Potato Parcel?
Potato Parcel is a website and firm based in the United States that delivers potatoes with personalized messages restricted to 140 characters or one image.
Alex Craig, a mobile app developer, launched Potato Parcel.
Craig came up with the concept after viewing a photo of potatoes with stamps on them in 2015.
He went out and got some potatoes and pencils, then created a website and began selling his goods.
Customers create their message online, and then Potato Parcel sends it to the receiver, inscribed on a potato.
It can be an anonymous present or not; it is entirely up to the consumer. Except for “hateful, damaging, or threatening remarks,” you can put whatever on your potato.
Your potato will reach at the recipient’s house in 24-48 hours.
A regular written message will set you back $9.99.
They may also use a potato to print photographs ($14.99) or postcards ($12.99).
A tiny burlap bag is an upsell option for $4.99.
The cost of shipping is around $4.
Craig claims that he makes over $10,000 every month in sales.
They’re probably looking for a Shark to help them with their marketing.
Who founded Potato Parcel?
Alex Craig founded the company.
What happen to Potato Parcel at the Shark Tank pitch?
Potato Parcel was sold to Bay Area entrepreneur Riad Bekhit in October 2015 for $40,000 and relocated to San Bruno, California.
Riad is the owner of the company, which he purchased from Alex for $40,000.
After Shark Tank, Alex receives a $1 per potato royalty for 60 days.
Bekhit claims to write messages with Pilot G2 gel roller pens.
New items since the transfer include Lump of Coal Potato (a black potato), Potato Pal (a potato with a photo of someone’s face), Potato Postcard (a postcard pasted onto a potato), and Spooky Tater (a potato with a picture of someone’s face) (a potato painted to look like a pumpkin).
For shipment, a burlap sack is also available.
In April 2016, Bekhit stated that monthly revenues ranged from $20,000 to $25,000.
Shipping to Australia, Canada, Europe, and the United Kingdom has been increased by Potato Parcel.
Riad and Alex enters Shark Tank looking for $50,000 in exchange for a 10% stake in their company. Then the questioning begin.
They describe their company and offer out samples.
Except for Mr. Wonderful’s potato, which has an image of the Sharks on it. “There is nothing proprietary about this,” he argues.
They prepare various potatoes for various festivals, like sweet potatoes for Valentine’s Day.
The Sharks believe the men are kidding until they hear the sales data.
Since the launch of the company, they’ve sold over 12,000 units.. That’s a substantial amount of potatoes.
They’ve made $213,000, which they’re reinvesting in the company.
Robert likes it, but the price is too expensive for him, so he’s out.
Daymond believes they went too far with the humour, so he’s out.
Lori is close behind.
Mark isn’t convinced they’re mad, but he goes out anyway.
Mr. Wonderful was jolted awake by the phrase “royalty.”
He offers $50,000 in exchange for 10% of Alex’s royalties and half of his royalty for 60 days, after which he demands a dollar each potato until he recoups $50,000.
The boys reply with 17.5 percent, and Robert offers $50,000 for 25%.
They go with Kevin after some back and forth since Robert refuses to go.
Potato Parcel after Shark Tank pitch
The deal closed and Kevin considers this to be one of the finest deals he’s ever made.
Fast forward to 2021 and Potato Parcel is now worth an estimated $1 million with the company having already sent over 70,000 parcels and making over $700,000 in revenue since airing on Shark Tank.
The firm is still operating strong as of May 2021, bringing in roughly $600,000-$700,000 per year.
Potato Parcel Net Worth
Potato Parcel net worth is estimated to be $1 million as of early 2021.
Potato Parcel Competitors
Potato Parcel competes against companies such as Postcards Plus, which launched in the mid-2000s and now has an estimated $3.1 million in sales. Others includes;
Kate Spade. 102, Global Message Services – GMS, Upside Wireless, RainedOut, TeloGo Communications, 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.