Power Pot Shark Tank Net Worth 2023
Power Pot appeared on Shark Tank in 2014, seeking a $250,000 investment for a 10% stake in their company. This indicates a worth of $2.5 million.
The net worth of Power Pot is unknown as of 2023 since it was acquired by Thrasio in 2020. Since appearing on Shark Tank, Power Pot has experienced tremendous growth and success.
They have secured additional funding and partnerships, leading to an estimated net worth of $2.5 million USD. Caleb Light and David Toledo are the founders of Power Pot, but their individual net worths are unknown.
What is Practical Power/Power Pot? Who Founded Power Practical?
The Power Pot functions as a portable energy source and serves as a generator. It is versatile and can be used for various purposes such as boiling water during camping or outdoor activities using any type of heat source, be it gas, portable stoves, or hot springs.
Furthermore, the Power Pot comes equipped with a built-in USB charger, enabling users to charge their smartphones.
The founders of Power Pot, Caleb Light and David Toledo, possess strong business backgrounds before coming together to form their collaboration.
Light, who majored in business and entrepreneurship at Utah Valley University, was a partner at CupAd LLC before starting Power Pot.
Light and Toledo were inspired to develop the Power Pot after a weekend camping trip where they realized the potential of energy produced by a bonfire. Instead of letting the energy go to waste, they decided to channel it into something useful, such as electricity.
Their line of portable devices, including the flagship product, the Power Pot, uses this natural energy source. With earnings of over $200K in two consecutive rounds, Light and Toledo have become the latest Kickstarter entrepreneurs to join the Tank.
The Power Pot is available at various outlets across the country, including Amazon, Bass Pro Shops, REI, Cabella’s, and independent outdoor outfitters.
It is an excellent tool for campers, hikers, and anyone experiencing a prolonged power outage. In addition to the Power Pot, Power Practical also offers cables, lights, lithium batteries, and portable camp stoves.
Power Pot Shark Tank Pitch
Caleb and David appeared on Season 5, Episode 24 of Shark Tank to seek a $250,000 investment in exchange for a 10% stake in their firm, which was valued at $2.5 million.
During their pitch, they provided samples of their product and mentioned that they had pre-sold 100,000 units through Kickstarter, with an anticipated $2 million in annual sales.
When asked about their patent, David responded that it was still pending, which raised concerns from Kevin and the other Sharks about the value of the product.
Despite this, Caleb and David expressed their plans to increase sales, establish relationships with larger retailers, and expand their product line beyond the Power Pot.
While some Sharks, such as Kevin and Daymond, declined to invest due to their own experiences and the size of the business, Mark made an offer of $250,000 for a 20% stake in the firm.
After some negotiation, Caleb and David agreed to a deal that included a 12% equity stake, 3% in advisory options, and a seat on their board of directors.
Since their successful deal with Mark, the Power Pot team has expanded their retail distribution and continued to sell well on Amazon.
They have also been working to bring their product to Third World countries, where it can be used to charge mobile phones and lights using boiling water.
In March 2020, the firm was purchased by Thrasio for an unknown amount, and Caleb, David, and the rest of the crew continued to work as product development engineers.
However, they eventually ceased production of the Power Pot and shifted their focus to manufacturing the Luminoodle, a portable, USB-powered LED light rope and lantern that can be attached, bound, hooked, and hung on nearly anything.
The Luminoodle comes in both a five-foot and 10-foot length and can be hung from a hook, attached to metal surfaces using a magnet, or enclosed in a dry bag to create a lantern.
The Power Pot is an ideal partner for the Luminoodle, as it can be used to charge the light rope as well as anything with a USB connection.
In addition to the Luminoodle, the firm now manufactures television lights, stick-on outdoor lights, and plasma lighters.
Power Practical Net Worth
Caleb and David appear on Shark Tank season 5 episode 24 in return for a $250,000 investment and a 10% stake in their firm. This indicates a worth of $2.5 million. They accepted
an offer from Mark of $250K in exchange for a 12 percent equity stake plus 3% in “advisory options” thus bringing valuation to be 2.08 million.
Power Practical Competitors
Top Competitors of Power Practical are as follows;
Gillette Generators, Sone India, Technologies, Aixcon PowerSystems, Electrotek, MQ Power, Rush PCB and Zener Electric are the top Competitors of Power Practical.
Power Pot Shark Tank Updates
Power Pot is a thermoelectric generator designed like a cooking pot that not only boils water but also charges electronic devices via a USB port. It can be used with virtually any heat source, such as a wood-burning stove, a propane heater, and even a hot spring.
Power Pot appeared on Shark Tank in 2014, seeking a $250,000 investment for a 10% stake in their company. Mark Cuban invested in the company, and after the show, the deal was closed.
Since then, Power Pot has experienced tremendous growth and success, expanding retail distribution to virtually every major outdoor retailer and campground in the United States.
In 2020, Power Pot was acquired by Thrasio and was renamed Power Practical. As of September 2022, the Power Pot remains unavailable, and it seems that the product has ceased being manufactured altogether.
The net worth of Power Pot is unknown as of 2023 since it was acquired by Thrasio in 2020. Caleb Light and David Toledo, the founders of Power Pot, remain with the company as part of the product development team. They still make their Luminoodle lights.
The Table Below Summarizes Information About Power Pots.
| TOPIC | SUMMARY |
| Founders | Caleb Light and David Toledo |
| Products | Portable devices, cables, lights, lithium batteries, and portable camp stoves |
| Shark Tank Pitch | In 2014, Power Pot appeared on Shark Tank, seeking a $250,000 investment for a 10% stake in their company. They accepted an offer from Mark Cuban of $250K in exchange for a 12% equity stake plus 3% in “advisory options,” bringing the valuation to $2.08 million. |
| Net Worth | The net worth of Power Pot is unknown as of 2023 since it was acquired by Thrasio in 2020. However, it is estimated to be around $2.5 million USD since its appearance on Shark Tank. |
| Power Pot Shark Tank Updates | Power Pot was acquired by Thrasio in 2020, and its production ceased. The company shifted its focus to manufacturing the Luminoodle, a portable, USB-powered LED light rope and lantern, and other products like television lights, stick-on outdoor lights, and plasma lighters. |
| Competitors | Gillette Generators, Sone India, Technologies, Aixcon PowerSystems, Electrotek, MQ Power, Rush PCB, and Zener Electric are among the top competitors of Power Pot. |
Power Pot FAQS
What Is a Power Pot And How Does It Work?
A power Pot is a cooking pot that generates electricity from heat using a built-in thermocouple in its base. The device captures the electrons moving from the heated pot to the cooler water inside, generating power by using thermoelectricity.
The greater the temperature difference, the more electricity is generated. The PowerPot is a thermo-electric generator that takes the temperature difference from the bottom of the pot and whatever is inside, which would be water, and turns it into electricity.
The output of the PowerPot is five watts and one amp of current, which means most USB devices will charge just as quickly as with a conventional plug and outlet.
The PowerPot is a light, compact, and practical item that works on open flames, electrical coil stoves, and can even capture energy atop an iron stove.
As long as there is heat, the PowerPot will capture the thermal energy. The company has a growing variety of PowerPots that serve different needs. The basic model, the PowerPot V, weighs less than a pound and produces 5 volts, enough to charge a cellphone in 60 to 90 minutes.
Larger models, like the PowerPot X, produce 10 volts and can charge larger devices, like a tablet computer. The PowerPot is an awesome tool for camping, power outages, and general green living.
Who founded Power Pot?
Caleb Light and David Toledo were the founders of Power Pot.
What Was The Outcome Of Power Pot Shark Tank Pitch?
On Shark Tank, Caleb Light and David Toledo pitched their high-tech cooking pot called Power Pot, a thermoelectric generator to charge electronic devices with heat.
They were seeking a $250,000 investment in exchange for a 10% stake in their company, which was valued at $2.5 million. Mark Cuban agreed to invest $250,000 for a 12% stake plus 3% advisory options in Power Pot. After the show, the deal made on the show with Mark was finally closed.
Power Pot launched in the US after the show. Having an investor and expert like Mark has made it possible for Power Pot to reach every outdoor store.
Power Pots have been made available in the third country, Uganda, where some use. However, as of November 2021, the company no longer makes the pots, but they still make their Luminoodle lights.
What Happened To After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Power Pot was able to secure a deal with Mark Cuban, who invested $250,000 for a 12% stake plus 3% advisory options in the company.
Power Pot launched in the US after the show, and thanks to Mark’s extensive network of major brands and distributors, the Power Pot is now sold at most outdoor and camping stores in the United States.
However, as of November 2021, the company no longer makes the pots, but they still make their Luminoodle lights.
It is unclear why the company stopped making the pots, but it seems that the product has ceased being manufactured altogether as of September 2022.
Despite this, the company has continued to receive funding and support. In 2023, the company raised an additional $73,000 for the upgraded Power Pot.
How much was they seeking in the Shark Tank?
Caleb and David appear on Shark Tank season 5 episode 24 in return for a $250,000 investment and a 10% stake in their firm.
Did they get the deal from the Sharks?
They accepted the offer from Mark of $250k in exchange for a 12% equity stake plus 3% in “advisory options” thus bringing valuation to be $2.08 million.
Is Power Pot still in business?
Thrasio purchased the firm in March 2020 for an unknown sum. Caleb, David, and the rest of the crew will continue to work for the firm as product development engineers. Their initial endeavour was a bathroom spray.
Fast forward to November 2021, and the firm has ceased production of Pots. They continue to manufacture Luminoodle lights.
Where is Power Pot?
Power Pot is based in Salt Lake City, Utah.
What episode was Power Pot aired on Shark Tank?
The founders of Power Pot, Caleb Light and David Toledo, appeared on Shark Tank season 5 episode 24.
How do people link their Luminoodle remote with their device?
Unplug and replug their light strip to link their remote with their Luminoodle.
After reconnecting the device, press and hold the brightness up button.
The lights will then blink to indicate that the device has been successfully linked.
Who is CEO of the Company?
David Toledo is the CEO of the company.
How did the Company raised through Kickstarter?
Caleb and the rest of the Power Practical crew have successfully funded over $1 million on Kickstarter for a variety of projects.
What is the net worth of Caleb Light?
Caleb Light’s net worth is unavailable.
What is the net worth of David Toledo?
David Toledo’s net worth is unavailable.
How much was Practical Power purchased?
Thrasio purchased the firm in March 2020 for an unknown sum. Caleb, David, and the rest of the crew will continue to work for the firm as product development engineers. Their initial endeavour was a bathroom spray.
