Saucemoto Shark Tank Net Worth 2023
Tony, William and Michael just entered the Shark Tank seeking $45,000 in exchange for a 15% stake of their business.
The valuation of their business was set at $300,000 and they were hoping to acquire the funds so that they could continue to invest in their business venture.
With this latest round of funding, Saucemoto’s net worth as of 2022 is estimated at 250,000 USD which is a significant increase from what it was before they found success on Shark Tank.
What is Saucemoto? Who is the Founder of Saucemoto?
Saucemoto is a practical gadget that can be fastened onto your car, allowing you to easily secure your small sauce container.
In 2017, Michael Koury, Tony Lahood, and William Moujaes, who were already friends and shared degrees in engineering and design, came up with the concept for Saucemoto.
For individuals who like to dine while on-the-go or frequently transport meals, Saucemoto is a brilliant solution. With this device, you can conveniently dip your fries into your preferred sauce, and say farewell to bland, dry food.
The founders of Saucemoto are Michael Tony, Lahood, and William Moujaes. They established Saucemoto in 2017 and developed the product along with other items. All three founders have a background in engineering and design.
Before launching Saucemoto, the trio were friends who had experienced the hassle of eating on the road and spilling food. This motivated them to find a solution to this problem.
William created a 3D version of Saucemoto, and his friends refined the idea by making it a universal size. They launched a Crowdfunding campaign, which raised $63,000, enabling the company to expand.
To this day, Saucemoto remains in the hands of its original founders. The successful Kickstarter campaign raised $63,308, and the company has since generated $70,000 in lifetime sales.
What Happened to Saucemoto at Shark Tank Pitch?
After successfully raising around $63,000 through a crowdfunding campaign, the company was able to expand their business.
Tony, William and Michael enter the Shark Tank seeking $45,000 in exchange for 15% of their business, leading to a valuation of $300,000.
With a tongue-in-cheek pitch about leaving the ketchup-less fries in the past, they hand out samples and regale the Sharks with their story. While some found it entertaining, Barbara questions whether or not the world truly needs their product.
The investors on the show were impressed by the company’s track record, having sold 12,000 units since their inception and earning $77,000 in revenue. Two investors, Kevin O’Leary and Robert, were interested in making a deal with the company.
Kevin O’Leary offered $45,000 in exchange for 50% ownership of the company, while Robert offered $45,000 for 40% ownership. However, Kevin O’Leary then countered Robert’s offer with a new proposal of $45,000 for 25% ownership.
After considering the offers, the Saucemoto company ultimately decided to close a deal with Kevin O’Leary.
What Happened to Saucemoto after Shark Tank?
Saucemoto remains operational even after making the deal with a Shark Tank investor. The deal with Kevin fell through but the company is still going strong, selling their product on Amazon and their own website.
Their website is still up and running, and customers can purchase their vehicle dip holder that can be easily attached to the car’s air-conditioning vents.
Their mission to rid the world of ketchup-less fries is still on course and as of December 2022, they have achieved a revenue of between $250,000 – $500,000 proving their drive and determination to stay afloat despite the failed deal.
The product is also available on Amazon, and the company’s three original partners are still on board. While there are similar products on the market, the Saucemoto Dip Clip is the most popular and can be found at Walmart, a major retail chain.
Due to Walmart’s extensive regional presence, Saucemoto is available both online and in-store, making it accessible to a larger customer base.
Saucemoto Net worth
Tony, William and Michael enter the Shark Tank seeking $45,000 in exchange for 15% of their business, leading to a valuation of $300,000. They accepted an offer of $45,000 in exchange for 50% ownership of the company which bring valuation to be $90,000.
FAQs of Saucemoto
What is Saucemoto?
Saucemoto is a device that can be used for food dips, sauces, and condiments. It is designed to be attached on the air-conditioning vent of a vehicle. It has features such as a non-skid bottom and handles for easy gripping.
Who is the founder?
The founders of Saucemoto include Tony Lahood, William Moujaes and Michael Koury.
When did it start?
Saucemoto was launched in 2017.
Where is it produced?
Saucemoto is produced in the United State and United Kingdom.
What was their offer?
The Saucemoto offer was $45,000 for 15% equity shares of the company.
Did they get the offer?
They got the offer in the end.
What was the offer?
The offer was of $45,000 for 15% equity shares of the company.
What is the claim on Shark Tank?
They are claiming on Shark Tank that they are selling 12,000 units with surmounted revenue of $77,000.
Who invested on Saucemoto?
Some investor is Kevin O’ Leary invested $45,000 for 25% equity shares of the company.
Is Saucemoto still in business?
Yes, Saucemoto is still in the business.
Is Saucemoto still in Shark Tank?
No, they are no longer in Shark Tank. They have a new investor Kevin O’ Leary.
How much is Saucemoto worth?
The valuation of the Saucemoto is worth $300,000.
Is the product good or bad?
The product is good
Is it good for people who like to eat on the go?
Yes, this product is for people who like to eat on the go.
Is it legit?
Yes, the product is legit.
Where can I buy it?
One can buy it on Saucemoto website.
What is Saucemoto future of the business?
It will have better future because they will have their own retail network. It can be used by more people because they are having a portable item which can be used anywhere.
Was Saucemoto successful?
Saucemoto was founded in 2017 with a successful Kickstarter campaign that raised $63,308, bringing the company’s lifetime sales to $70,000.
Which episode and seasons is Saucemoto?
It is episode 22 Seasons 10
How much has Saucemoto raised?
The company raised $63,308 on its Crowdfunding campaign. It has achieved longevity with the product having 18 seasons. The valuation of the company’s products is $300,000.
Episodes 22 were aired for seasons 10 which make it the longest running reality show in television history.
How is the business model?
The business model of the company is to sell the product.
How does is make money?
The company makes money from the sale of the product.
How long is the company based on Shark Tank?
Saucemoto has been on Shark Tank since 2019. Thus, it was based on Shark Tank for seasons