SafeGrabs Shark Tank Net Worth 2023 | SafeGrabs Shark Tank Updates

SafeGrabs Shark Tank Net Worth 2023

Cyndi Lee asked for $75,000 in exchange for a 12% stake in her company, which was valued at $625,000. during their pitch, and after Lori Greiner invested $75,000 in exchange for 30% ownership of the company in the company its worth increased to $300,000.

This increment in valuation has been further justified by their performance as they have been able to generate annual revenue of $4 million in 2021 and over $24 million in lifetime sales.

All these facts demonstrate that the company’s net worth had indeed elevated drastically since the investment done by Lori Greiner.

What is SafeGrabs?

SafeGrabs is a round-shaped, flexible silicone disk that can be used as a microwave oven mitt, place mat, trivet, potholder, jar opener, utensil rest, splatter shield, and food cover all in one. It is BPA-free and safe for use in the microwave and around the house.

SafeGrabs is designed to fit precisely on your microwave turntable, allowing you to securely grasp hot meals without burning your fingertips.

The inventor of SafeGrabs is Cyndi Lee from Houston, Texas. As a youngster, Cyndi was too lazy to use a towel to pick up hot plates from the microwave, and as an adult, she continued to burn her fingers. This led her to develop SafeGrabs as a solution to her problem. Initially named the Micro Easy Grab, Cyndi later changed the name to better reflect the product’s versatility.

In 2015, Cyndi won QVC sweepstakes and sold out her appearance. Her success on the show led to an invitation to return. More recently, she was featured on Steve Harvey’s show as part of his Passion Project section, where she won the event and received $5000 to further develop her invention.

SafeGrabs is available for purchase on Amazon for between $12 and $15, and Cyndi plans to expand her business beyond online sales and into larger retailers such as Target and Wal-Mart.

What Happened to SafeGrabs at Shark Tank Pitch?

In Season 8, Episode 5 of Shark Tank, Cyndi Lee sought investment from one of the Sharks to help her secure a purchase order for her business. She needed money to create more products to sell in stores. She asked for $75,000 in exchange for a 12% stake in her company, which was valued at $625,000.

Despite some negative feedback from the Sharks, Lori offered $75,000 in exchange for 30% ownership of the company, but after negotiations, Cyndi accepted $75,000 for a 20% stake in the company.

After the Shark Tank episode aired, SafeGrabs quickly sold out on QVC. In Season 9, Episode 825, an update on the company’s progress was provided. Cyndi had made $2.4 million in sales in one year and had expanded her product line to include pinch mitts. As of December 2021, SafeGrabs was still in business and had an annual revenue of $4 million.

Net Worth of SafeGrabs

The company was valued at $625,000 during the pitch, after the investment done by Lori Greiner the company was valued at $300,000.

Since then the company has been performing well in sales with annual revenue of $4 million in 2021. This justifies that the company’s net worth had elevated.

SafeGrabs Shark Tank Update

Safe Grabs is a multi-purpose kitchen tool that functions as a microwave oven mitt, place mat, trivet, potholder, jar opener, utensil rest, splatter guard, and food cover.

The product is made from food-grade silicone, is BPA-free, dishwasher safe, heat resistant to 475°F, non-slip, and naturally non-stick. Cyndi Lee, the creator of Safe Grabs, appeared on Shark Tank Season 8 and landed a deal with Lori Greiner.

Lee asked for $75,000 for 12% equity in her business, and Greiner offered $75,000 for 30% equity. They eventually settled on a deal for $75,000 for 25% equity.

After appearing on Shark Tank, Safe Grabs was sold on QVC the day after the episode aired, and within 10 minutes, the product sold out completely. In the year following the Shark Tank appearance, Safe Grabs made $2.4 million in sales.

The product continues to be sold on QVC and Amazon, as well as in small mom-and-pop shops. Safe Grabs has also donated to charitable causes, such as matching dollar for dollar to purchase 50,000 medical masks for overflowing hospitals during the COVID-19 pandemic.

SafeGrabs Shark Tank Table Summary:

TOPIC	INFORMATION
Company Name	SafeGrabs
Founder(s)	Cyndi Lee
Shark Tank Appearance	Season 8, Episode 5
Offered	$75,000 for a 12% stake in her company valued at $625,000
Investment Deal	Lori Greiner invested $75,000 for 25% ownership of the company
SafeGrabs Worth	Valued at $625,000 during pitch; increased to $300,000 after Lori Greiner’s investment
SafeGrabs Product	Multi-purpose kitchen tool made of BPA-free silicone
Sales Performance	Made $2.4 million in sales in one year after Shark Tank appearance
Current Annual Revenue	$4 million (as of 2021)
Distribution Channels	Amazon, QVC, small mom-and-pop shops
Charitable Contributions	Donated 50,000 medical masks to hospitals during COVID-19 pandemic

What Was The Outcome Of SafeGrabs’ Pitch On Shark Tank

During her pitch on Shark Tank, Cyndi Lee asked for a $75,000 investment in exchange for a 12% stake in her Safe Grabs company. Lori Greiner was the only shark who took the bait and invested in the company.

Safe Grabs mats were sold on QVC the day after the Shark Tank episode aired, and within 10 minutes, they sold out. The product made $300,000 in less than ten minutes on QVC, and that year, Lee made $2.4 million in sales.

SafeGrabs has continued to be successful, and during the COVID-19 pandemic, the company matched dollar for dollar to purchase 50,000 medical masks for overflowing hospitals.

How Has SafeGrabs Performed Since Appearing On Shark Tank?

Safe Grabs is a kitchen tool made from food-grade silicone that was featured on Season 8 of Shark Tank and received an investment from Lori Greiner. The product generated $5 million in revenue within three years after the show and continues to generate $4 million in yearly revenue.

Safe Grabs was also featured on QVC and made $300,000 in less than ten minutes, selling out completely the day after. The creator of Safe Grabs, Cyndi Lee, applied for a patent on the flexibility of the product in 2020 and was awaiting approval.

In response to the COVID-19 pandemic, SafeGrabs matched dollar for dollar to purchase 50,000 medical masks for overflowing hospitals. Safe Grabs is a successful and profitable business with a strong presence in the market.

Where Can I Buy SafeGrabs Products?

SafeGrabs products can be purchased from various online retailers such as Amazon, Walmart, and Bed Bath & Beyond. SafeGrabs is a multi-purpose kitchen tool that functions as a microwave mat, jar opener, hot pot grabber, trivet, splatter guard, and food cover.

The product is made from 100% silicone and is BPA-free, making it safe for food. SafeGrabs has done over $5 million in retail sales in just three years since airing on Shark Tank.

Customers who have purchased SafeGrabs products have left positive reviews and recommend the product to others. SafeGrabs is reasonably priced and makes a great gift for family and friends.

The product is available in different colors, including bright orange. SafeGrabs is a versatile and multi-functional kitchen tool that can be used in various ways, making it a useful addition to any kitchen.”

Which Shark Invested In SafeGrabs?

Remove all numbers in brackets and all brackets in these texts. “Lori Greiner invested in Safe Grabs on Shark Tank. When the founder of Safe Grabs, Cyndi Lee, made her pitch to the sharks, she asked for $75,000 in return for 12% of her company.

Lori Greiner was the only shark to invest, but she wanted a larger stake of 30%. After some negotiation, they settled on Greiner receiving 25% of the company. Within the first three years of the deal, Safe Grabs had created $2.4 million in sales for Lee and Greiner.

How Much Did SafeGrabs Make In Sales After Appearing On Shark Tank?

After appearing on Shark Tank, Safe Grabs generated more than $2.4 million in sales within a year.

Cyndi Lee, the founder of Safe Grabs, asked for $75,000 in return for 12% of her company during her pitch to the investors on Shark Tank. Lori Greiner was the only investor who took the bait and invested in Safe Grabs.

Where Can I Buy SafeGrabs Now?

Safe Grabs is a versatile kitchen tool that can be used as a microwave mat, jar opener, hot pot grabber, trivet, splatter guard, and food cover.

It is made from 100% silicone, is dishwasher safe, BPA-free, heat resistant up to 475°F, non-slip, and naturally non-stick. Safe Grabs was featured on Shark Tank and received an investment from Lori Greiner.

To buy Safe Grabs, customers can go to the Safe Grabs website or the websites of online retailers such as Amazon, Bed Bath & Beyond, and Walmart.

Safe Grabs is available in different colors and sizes, including the original 10-inch version which sells for $12.85. Additionally, Safe Grabs can be purchased in select physical stores.

How Much Did SafeGrabs Make In Sales After Three Years Of Appearing On Shark Tank?

Within three years of appearing on Shark Tank, SafeGrabs made over $5 million in sales. However, another source states that SafeGrabs sold $310,000 over three years.

It is unclear which figure is more accurate, but it is possible that SafeGrabs made sales between these two amounts.

What is SafeGrabs?

SafeGrabs is BPA-free and may be used in the microwave as well as around the house. Safe Grabs’ round form fits perfectly on your microwave turntable and allows you to firmly grip hot dishes without burning your fingertips.

Who is the inventor?

Cyndi Lee, a Houston-based mom, invented SafeGrabs to assist her with multitasking. She was too sluggish as a youngster to pick up hot plates from the microwave with towels, and she eventually developed a flexible silicone disk that could be used as a trivet, pot cover, and even jar opener.

How much was seeking on Shark Tank?

Cyndi was seeking $75,000 for a 12% share in her firm, which was valued at $625,000 at the time.

Did she have the deal?

Yes, she did the deal with Lori Greiner.

How much was the deal?

Lori Greiner offered $75,000 for 25% equity shares of the company.

Is SafeGrabs still in business?

Yes, the company is still in business with annual revenue of $4 million as of December 2021.

When was the deal made on Shark Tank?

The deal was made on episode 5 of Season 8.

Where can I get SafeGrabs?

Safe Grabs was available on Amazon and in a few local small retail shops, but Cyndi had yet to secure a deal with a larger retailer.

While Cyndi admitted that other comparable devices were on the market, Safe Grabs was the only one made of silicone, which was more flexible and adaptable.

Can SafeGrabs be washed in the dishwasher?

Safe Grabs is the ORIGINAL multi-purpose heat-resistant silicone microwave mat. EASY & SAFE: BPA-free, dishwasher safe, heat resistant to 475°F, non-slip, and naturally non-stick silicone.

How do I clean SafeGrabs?

Simply rinse with water and brush off excess water before wiping with a moist towel. SafeGrabs may also be used in the dishwasher’s top rack.

What is two pack included in SafeGrabs?

The 2-pack includes one 10″ and one 12″ Safe Grabs.

How do I remove food stain in SafeGrabs?

After washing and drying, expose the garment to direct sunshine for a few hours, and the stains should disappear (certain foods like curry will stain if not rinsed right away).

Users may bake it at 400 degrees Fahrenheit for 15 minutes to remove food odors, but the Safe Grabs will be HOT, so let it cool!

Why is microwaveable popcorn not permitted?

Because microwaves release waves that initially heat up water molecules (H2O), because microwaveable popcorn is dry, the silicone will heat up at the same pace, making it hot.

Certain popcorn producers’ bags include ink that, when heated, stains the silicone and will not come out.

Is SafeGrabs safe for children?

Yes, Safe Grabs has received all BPA-Free and Food-Grade Silicone certifications. Silicone is the material of the future for kitchenware since it is more durable than plastic.

There are numerous low-cost and poorly constructed silicone mats on the market that have not been tested for safety.

Is SafeGrabs shipping?

Yes, they are shipping to the continental USA.

Where can I buy the products?

The products are only available on their website and Amazon.com.

What are the methods of payment accepted by SafeGrabs?

Only PayPal

How can I contact SafeGrabs?

Please contact them through the contact form on the website.

Is there a coupon code available for SafeGrabs?

No, there is no coupon code available.

What is the shipping cost of SafeGrabs?

Shipping cost is $2.99 per product, regardless of the number of products purchased.

What is the net worth of Cyndi Lee?

Cyndi Lee Rice net worth is $600,000.