SafeGrabs Shark Tank Update | What Happened to SafeGrabs after Shark Tank?
What is SafeGrabs?
SafeGrabs is BPA-free and suitable for use in the microwave and around the house. Safe Grabs, with its round shape, fits precisely on your microwave turntable and allows you to grasp hot meals securely without burning your fingertips.
Cyndi Lee of Houston, Texas, invented SafeGrabs because she was too sluggish as a youngster to pick up hot plates from the microwave with a towel.
After maintaining her horrible habit of burning her fingers into adulthood, she ultimately developed a flexible silicone disk that could be used as a trivet, a splatter guard, a pot cover, and even to open jars.
Who is the founder of SafeGrabs?
Cyndi Lee of Houston, Texas, founded SafeGrabs because she was too lazy as a youngster to use a towel to pick up hot plates from the microwave.
SafeGrabs is a microwave oven mitt, place mat, trivet, potholder, jar opener, utensil rest, splatter shield, and food cover all in one.
Cyndi dubbed the invention the Micro Easy Grab at first, but she altered it to represent its broader usage as a product.
Cyndi won a QVC sweepstakes in 2015 and sold out her appearance. She performed so brilliantly that QVC invited her back.
Earlier this year, she featured on Steve Harvey’s show as part of his Passion Project section. She also won that event and received $5000 to further develop the invention.
It costs between $12 and $15 on Amazon. Cyndi wants to expand her business beyond online sales and into Target, Wal-Mart, and other large box retailers.
What Happened to SafeGrabs at Shark Tank pitch?
In episode 5 of Season 8, Cyndi Lee chose to bring in a Shark to invest in her business in order to assist her secure a purchase order at these types of stores; she needs money to create product. She’ll most likely want the assistance of a Shark for purchase order financing.
Cyndi enters the pitch seeking $75,000 for a 12% stake in her company, which is company valuation of $625,000.
Over the course of three years, she has made over $300,000 in sales, largely through Amazon and other mom-and-pop stores.
Mark comments after her presentation, “It’s a product, not a business.” He exits. Barbara claims to just use a towel. She goes out.
Kevin believes that it requires too much explaining and demonstrating, therefore he goes out. Robert thinks she did a nice job, but it’s not for him, and he exit as well.
Lori adores it and offers $75,000 in exchange for 30% ownership of the firm. Cyndi counters with $75,000 in exchange for 17% equity.
Lori revised her offers to 25% equity shares, but when Cyndi replies with 20% equity shares in the company, Lori refuses. Cyndi accepts the pitch and walks away with a deal.
What Happened to SafeGrabs after Shark Tank?
Following the completion of the deal with Lori during the pitch, SafeGrabs SOLD OUT on QVC the day after Shark Tank aired. In Season 9, Episode 825, there is an update part.
The company’s progress is highlighted in the update portion. Cyndi makes $2.4 million in sales in a year. She has expanded her product range to include pinch mitts.
The firm is still in operation as of December 2021, with 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 valued at $300,000.
Since then the company have been performing well in sales with annual revenue of $4 million in 2021. This justify that the company net worth had elevated.
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 the 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 for $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?
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.