Radiate Portable Campfire Shark Tank Net Worth 2023
Radiate Portable Campfire was founded by Brent Davidson and Bryan Cantrell. During their pitch on Shark Tank, they asked for $50,000 for 20% equity and received an offer of $100,000 for 25% equity from Robert Herjavec.
The company was valued at $250,000 during the pitch and $400,000 after Robert’s investment.
Radiate Portable Campfire is a portable campfire system that costs about $6 to manufacture and build. Units are sold individually for $25
As of 2022, Brent Davidson and Bryan Cantrell have a net worth of 7 million USD.
What is Radiate Portable Campfire? Who is the founder of Radiate Portable Campfire?
Radiate is a globally recognized brand that specializes in outdoor supplies, well-known for its creative and innovative portable campfire made entirely of recycled paper briquettes and soy wax.
This brand was established in September 2017 by Brent Davidson and Bryan Cantrell, who had been business partners in a cosmetic product firm that manufactured wax for many years.
Radiate’s campfires are capable of burning reliably for a period of 3-5 hours, according to its founders. Due to the nature of wax production, they often had overages and excess wax, which they frequently placed in giant buckets and used to create massive bonfires during camping trips.
Radiate’s campfire canisters are incredibly easy to ignite and can be stopped, restarted, or transported at any time. Additionally, they are waterproof, require no maintenance, consume no wood, emit no flyaway embers or toxic smoke, and can be used in areas where starting a wood campfire is prohibited.
Each Radiate canister is a little over 8 inches in diameter and made from recycled paper pulp dipped in recycled soy wax.
Once ignited, the “campfire” inside can be used for toasting marshmallows or hot dogs and will burn for about 3-5 hours. To extinguish the fire, simply close the can’s lid, and if desired, it can be easily relit by dousing it in water.
Radiate was inspired by the excess wax produced during the creation of some of their skin care products. After attempting to create large candles using the leftover wax, they found them to be too bulky and dirty for transportation.
One day, Bryan placed some wax and paper in an old cookie tin, and thus the idea of a portable campfire was born.
Radiate’s product was introduced in April 2017 after a successful Kickstarter campaign that raised $6,256. This is not the first business venture for the co-founders; they previously co-founded Fleur de Spa, an e-commerce store that sold a proprietary line of beauty care products.
Radiate is perfect for anyone looking to have a campfire without the hassle and is also safer and more environmentally friendly. Since it is made entirely of recycled materials, it is fully sustainable.
Moreover, these campfire canisters are manufactured in the United States of America, and they are available for purchase in packs of two, four, or eight, with prices ranging from $49 to $186.
Radiate Portable Campfire Shark Tank Pitch
Bryan and Brent opted to present their product to the investors on Shark Tank to secure the opportunity to access outdoor and sports goods retailers.
During the presentation, Brent and Bryan requested $50,000 for a 20% stake in their company, which was valued at $250,000.
They talked about the history of campfires and gave a demonstration on how to light one of their products. After the presentation, they distributed samples and Robert tried one.
The men explained that their manufacturing cost was $5.75 per device, and they sold them for $25 each. Lori expressed concern over the burn time of six hours, stating that it was insufficient. However, the other Sharks disagreed, arguing that six hours was more than enough.
One of the Sharks made a comparison to Instafire, which is used to ignite a conventional fire, not replace it. Within 30 days, the company sold and shipped around 11,000 devices, 400 of which were from their crowdsourcing campaign. Despite the initial success, the Sharks had reservations.
Lori asked if they had a campfire, and Robert asked about the legality of camping in areas where campfires were prohibited.
Barbara inquired about the heat generated by the container, and the men confirmed that it does get hot, and it bears a warning label.
Barbara offered $50,000 for a 25% stake in the company, but Mark decided to pass on the opportunity, and Lori was not interested due to a conflict with Instafire.
Rohan made a counteroffer to Barbara’s proposal, and Robert matched it. After negotiating with Rohan, Robert increased his offer to $100,000 for a 25% stake in the company. Bryan and Brent accepted the offer, and they struck a deal.
Competitors of Radiate Portable Campfire
There are two major direct competitors to Radiate these are; Zippo Campfire and Instafire.
Net Worth of Radiate Portable Campfire
During the pitch the company was valued $250,000 after the Robert investment the company valued at $400,000. Since then the company have done sales which make the company net worth to increase in 2021.
Radiate Portable Campfire FAQs
What is Radiate Portable Campfire?
Radiate Portable Campfire is a unique product that allows people to have a campfire anywhere. It is completely safe and clean and will not leave behind any dangerous smoke or residue.
It does not require any kindling, uses no fuel, and does not have to be contained, allowing people to take it anywhere they go. They can use it right in their campsite or even at the beach.
Who is the founder?
Radiate Portable Campfire was founded by two partners, Bryan Cantrell and Brent Davidson, who met in college. They are from West Virginia, where the company is based.
What do they want to achieve on shark Tank?
The company wants to raise $50,000 in exchange for a 20% stake in their firm. They also seek to be able to sell their product through outdoor retailers. They believe this will increase sales tremendously.
Did they get the deal?
Yes, they got the deal from Robert Herjavec and they got $100,000 in exchange for a 25% stake in their business.
Is Radiate Portable Campfire still in business?
Radiate Portable Campfire is still operating as of November 2021.
What is the price of Radiate Portable Campfire?
The cost of Radiate Portable Campfire is $49 and a two-pack will cost $95. A four-pack costs $186, and an eight pack costs $186 too.
Why do they want to go on shark Tank?
Since they are only starting out they thought that going on shark tank would be a great way to increase sales and awareness.
How long have they been in business?
The company has been in business for around 4 years, since the summer of 2017.
Can you reuse radiate campfire?
Yes one can reuse Radiate campfire it is completely reusable.
How long does it take to set up the radiate campfire?
It takes around 1 minute to setup the product.
What is the size of radiate campfire?
They come in three different sizes compact, medium and large; they are all compatible with each other. The compact measures 6″ x 6″, medium measures 9″x9″, and large measures 12″x12″.
What are the ingredients of Radiate Portable Campfire?
The products contain paraffin wax, which provides fuel for the item. In terms of safety, it is completely safe to use and will not ignite accidentally.
What are some of the features of Radiate Portable Campfire?
The product uses no fuel and it can be used in in any weather conditions. It has a fire that burns continuously without requiring any kindling or additional fuels.
What is the net worth of Bryan Cantrell?
The net worth of Bryan Centell is not available.
What is the net worth of Brent Davidson?
The net worth of Brent Davidson is not available.