Tenikle Shark Tank Net Worth 2023
As of 2023, Tenikle’s net worth is estimated to be around $1.3 million.
The founder had initially valued the company at $2 million when it appeared on Shark Tank, and the net worth was later reported to be $3 million by some sources.
However, after the deal with Daymond John, the net worth was reported to be $900k.
What is Tenikle? Who is the founder of Tenikle?
Tenikle is a versatile phone/camera holder that boasts a 360° suction cup, making it a stable and reliable alternative to flimsy tripods. Its flexible design allows it to wrap around a variety of objects, such as poles, tree branches, golf clubs, or any firm support.
Additionally, the Tenikle can securely hold phones, GoPros, and cameras using its suction cups, and it comes with a phone clip for added convenience.
Hans and Lydia Dose, a married couple, started their company in their garage, much like many successful entrepreneurs.
Their product, Tenikle, a tripod with tentacle-like suction cups, was designed for content creators and amateur photographers alike.
The idea for the product came to Hans after he broke his phone while attempting to prop it up on a tree for a photo. On the way home, he realized the potential of a suction cup phone holder, which led to the creation of Tenikle.
Similar to a Gumby toy, Tenikle is a bendable tripod with three legs and suction cups that resemble octopuses. Its versatility extends beyond being a tripod and can also function as a vehicle mount, selfie stick, phone stand, and more.
After a successful Kickstarter campaign in September 2017, which raised $107,283, and an additional $126,922 on IndieGoGo, the production and shipping of the product faced delays and quality issues.
To rectify these issues, the company offered backers the option to upgrade to Tenikle 2, which took another year to arrive.
The company has since resolved these issues and is currently selling the latest version of Tenikle, the Tenikle 360, on their website and Amazon. The Tenikle 360 costs $5, while the upgraded version, Tenikle 2.0, costs $30.
Tenikle Shark Tank Pitch
Hans Dose appeared on Shark Tank episode 1311 to pitch his invention, Tenikle, a versatile tripod for attaching phones and cameras.
Hans was seeking a $200,000 investment and was willing to give up 10% of his company, which was valued at $2 million.
He also requested assistance with the production and shipping issues he experienced during his Kickstarter campaign.
During his pitch, Hans wore swim fins and had an inflatable octopus wrapped around his waist, reflecting his love for octopi and the inspiration behind his invention.
He demonstrated how the suction cups on the Tenikle can be used to hold up a surfboard and explained the various capabilities of his invention.
Although Mark expressed his appreciation for the product, he was more interested in the financial figures. Hans revealed that each unit costs $6.08 to manufacture and retails for $45, and he has sold approximately 40,000 units, generating $1.3 million in sales.
He also disclosed that he had accumulated $270,000 in debt to get to this point and had made $478,000 in sales in 2020. However, due to a lack of marketing funds, his sales had dropped to $9,000 in a month.
Robert offered to pay off Hans’ debt and invest an additional $100,000 in exchange for 60% equity shares in the company.
Daymond empathized with Hans and offered $200,000 for 33.3% equity shares, which he later reduced to 30%. Ultimately, Hans struck a deal with Daymond for $200,000 for 30% equity shares.
After the episode aired, Hans exceeded $250,000 in sales and sold out on Amazon within days. Daymond tweeted his support for Hans and his product, stating that he believes in Hans and is looking forward to working with his new partner. As of January 2022, Tenikle had generated $1.3 million in lifetime sales and was still operating.
Competitors of Tenikle
Tenikle is in direct competition with other leading producers of cell phone accessories, like Casetify, ZAGG, and Anker.
Net Worth of Tenikle
The company was valued at $2 million during the pitch, after the investment done by Daymond John the company valued at $666,667 .
The company is still running with $1.3 million in lifetime sales as of January 2022.
What is Tenikle?
Tenikle is the world’s only fully customizable cell phone holder. Using the patent pending design and combination of three silicone tentacles, Tenikle can hold in almost any position and securely attach to any surface.
With Tenikle you can finally say good-bye to the frustration of not being able to take that perfect selfie or trying to prop your phone up so it doesn’t fall over.
Who is the inventor?
Hans Dose is the inventor of Tenikle. Hans used to be the creative director at Hurley, the world’s largest apparel brand in the action sports industry.
He simultaneously created his first invention, an adjustable belt buckle, which he sold on his own.
How much was Hans seeking on Shark Tank?
Hans was seeking for $200,000 for a 10% stake in his company.
Did he have the deal?
Yes, Daymond John offered Hans $200,000 for a 30% stake of the company.
Is Tenikle still in business?
Yes, the company is still operating with $1.3 million in lifetime as of January 2022.
Where is Tenikle located?
The company is located in San Mateo, CA.
What is Tenikle website?
The company website is https://tenikle.com.
How much does Tenikle cost?
Tenikle 360: $5, and Tenikle 2.0: $30
Where can I buy Tenikle?
Tenikle is available on their website and Amazon.
What are the specs of Tenikle?
Tenikle’s features include: Customizable universal docking station for all cell phones, tablets and cameras – adapts for any smartphone and phone case/sleeve on the market.
Is Tenikle having a patent?
Yes, the company holds a Patent #US9182077 with two claims.
Is Tenikle successful?
Yes, the company is successful and has earned revenue of $1.3 million in its seven years of operations.
What is Tenikle made?
Made with a combination of three silicone tentacles and 3M adhesive, Tenikle is 100% waterproof.
What is the difference between Tenikle and other products?
The product’s main attractions are its universal docking station that adapts to any smartphone and phone case/sleeve on the market. The product also features three silicone tentacles for easy positioning.
Does Tenikle come in different colors?
Yes, the product comes in several colors including green, blue, black and teal.
Who is the CEO?
Hans Dose is the CEO of Tenikle.
What is the net worth of Hans Dose?
The net worth of Hans Dose is unknown as of January 2022.