Subsafe Shark Tank Net Worth 2023 | Subsafe Shark Tank Update
What is Subsafe Shark Tank Net Worth in 2023?
SubSafe, founded by Adam Haller and Desiree Haller, is a company that produces sandwich containers designed to keep sandwiches fresh and protected from water and pressure.
The company was featured on Shark Tank USA in January 2019, where the founders sought a $50,000 investment for a 13% stake in the business.
They secured a $100,000 deal for a 25% share of the company, making the company valuation $400,000
The company’s net worth has grown from an initial $400,000 to over $4 million in three years. As of 2022, the founders of SubSafe, Adam Haller and Desiree Haller, have a net worth of $750,000
What is Subsafe? Who is Founded Subsafe?
SubSafe is a type of container designed specifically to hold submarine sandwiches. It has a unique shape and is made up of three parts that fit securely together to create a seal that is watertight.
This container is available in a variety of colors and is made from BPA-free plastic, which makes it safe for outdoor activities like hiking, camping, and boating. Additionally, it is spacious enough to accommodate a 6-12 inch sub, and it comes with a smaller container that can be used to hold half-eaten or smaller subs by unscrewing one side.
The founders of SubSafe are Adam Haller and Desiree Haller.
What Happened to Subsafe At /After the Shark Tank Pitch?
Adam and Desiree Haller, a couple from Florida, made an appearance on Shark Tank to pitch their product, SubSafe. The product is a cooler designed specifically to keep sub sandwiches waterproof and crush-proof.
The idea came to the couple after they returned from fishing trips with ruined sandwiches due to melting ice. They founded the company in 2018, and just a few months later, they appeared on Shark Tank.
SubSafe comes in three colors, pink, blue, and charcoal, and costs $17.95. Optional straps are also available for an additional $3.50. The company donates $0.50 from each sale to Provision Packs, an organization that provides meals to underprivileged children.
Adam and Desiree Haller offered a 13% stake for $50,000 to the Sharks. They provided samples and explained the background of their product. However, the Sharks were concerned about the low sales of $40,000 in the first four months of the company.
The Hallers explained that they had to sell their yacht to finance production and had little money left for marketing. They mentioned being close to striking a deal with the largest subcontractor in the country.
Lori exited the deal due to the small market size, and Mark and Kevin were hesitant to make an offer due to the amount of equity they would require.
After a private conversation, Mark and Charles made an offer of $100,000, split between the two of them, for a 25% share of the company. The Hallers immediately accepted the offer.
It is uncertain if the sale has been completed, but SubSafe is available for purchase at the deli section of every Publix supermarket. The product has received positive reviews, and its price has been reduced to $14.95.
In 2019, the company expanded into a 4000-square-foot warehouse and began selling their VyroSafe paper straws in bulk to businesses such as cruise ships, restaurants, and hotels, with over 4 million sold.
Additionally, ORCA coolers signed a license agreement with SubSafe in 2019 to offer SubSafes with NFL and college sports club logos.
The company also introduced WineSafe, a waterproof container and koozie for wine or champagne bottles with a rubber cork. In 2021, the agreement between Mark and Charles was completed. SubSafe is now available at Wawa, Publix, Bed Bath & Beyond, and Amazon, and the company’s annual revenue is $1 million.
Subsafe Net Worth
Subsafe, as of Feb 2021, was valued at $4 million.
There is no competition for this product.
Who founded SubSafe?
Desiree and Adam Haller founded Subsafe.
Where did the idea of SubSafe come from?
The idea of a sandwich container with a lid, two sides, and a bottom was born after Adam and Desiree went on a fishing outing and returned with soggy sandwiches.
What is SubSafe?
SubSafe is basically a waterproof container for phones, sandwiches, wallets, and keys.
How much is SubSafe worth now?
It is currently valued at more than $4 million.
Did SubSafe get a deal on Shark Tank?
Shark Tank Deal: SubSafe Accepts $100,000 for 25%equity from Charles Barkley and Mark Cuban.
Who owns sub safe?
The inventors of SubSafe are Adam Haller and Desiree Haller of Port Orange, Florida.
Where are SubSafe made?
It the made in Port Orange, Florida.
Is SubSafe waterproof?
Yes! SubSafe is watertight. When the ice in the cooler melts, we got you covered.
Is SubSafe BPA FREE?
Yes! It is made from Polypropylene plastic, the same plastic used to make baby bottles.
Will my sandwich get soggy?
We like to operate under the common sense rule of thumb here.
If you load your sub down with vegetables and condiments, it won’t matter what you do, and it’s going to get soggy.
For this reason, we suggest getting vegetables and condiments on the side.
Will my sandwich get crushed while in the container?
No! SubSafe is made of thick quality plastic that won’t bend under pressure. Go ahead and throw that case of beer in the cooler too.
Does SubSafe float?
Yes! In the tragic event that your SubSafe goes man overboard, it will float until you can return it to safety inside the boat.
When will I use my SubSafe?
Boating, tailgating, beach camping, hunting, picnics, NASCAR races, concerts, etc.
Can I use my SubSafe as dry storage?
Yes! After you have finished your sub, load it up with everything you don’t want to get wet., keys, tickets to the game or race, etc.
Does one SubSafe accommodate both a 6″ and 12″ sub?
Yes! We engineered SubSafe to work for both sandwich sizes. This also allows you to eat half now, half later.