Mighty Carver Electric Knife Shark Tank Net Worth 2023
Mighty Carver is an electric food carving knife that sounds like a chainsaw. It was founded in 2016 by Kim and Lance Burney. The couple appeared on Shark Tank Season 12 Episode 4, asking for $100,000 for 20% equity.
Daymond John offered $100,000 for 25% equity, which the Burneys accepted. Mighty Carver’s valuation was $500k before the Shark Tank deal.
According to a report, Mighty Carver’s net worth has increased to $450,000 in 2021 since receiving investment from Shark Tank.
After appearing on Shark Tank, Mighty Carver became the show’s best-selling product and generated revenue of $300 million as of 2022. The company sells its products on its website and other platforms such as Amazon.
What is Mighty Carver Electric Knife? Who is the founder of Mighty Carver Electric Knife?
The Mighty Carver is an electric carving knife that has a chainsaw-like appearance. It is the perfect gift for Father’s Day as it allows you to easily and quickly cut through various food items, including turkey, bread, vegetables, and cheese.
The knife’s stainless steel blades can be easily removed for cleaning, and it comes with a carving fork as well. The company behind this innovative product is Lankim LLC, co-founded by husband and wife team Kim and Lance Burney in 2016.
The Burneys were inspired to create the Mighty Carver after the passing of their grandfather just before Thanksgiving.
Their family had a tradition of using a chainsaw to clear trees and bushes after the holiday, and the Burneys wanted to create an electric carving knife that resembled a miniature chainsaw.
Kim played a significant role in the development of the product. She created, produced, and patented it in less than a year and sold it wholesale to well-known retailers such as Sharper Image, Ace Hardware, The Grommet, and Hammacher Schlemmer. The Mighty Carver is also available for purchase on Amazon for only $89.
The Burneys’ idea for the Mighty Carver caught the attention of a Shark Tank scout while they were showcasing their product at a housewares exhibition.
The product has been a hit, with 5000 units sold in 2019 alone. It is a fun and affordable way to add excitement to carving Thanksgiving turkey or any other meat.
Mighty Carver Electric Knife Shark Tank Pitch
Kim and Lance Burney pitch their electric carving tool, Mighty Carver, on episode 1205 of Shark Tank. They are seeking a $100,000 investment in exchange for a 20% stake in their company, which is valued at $500,000.
Their goal is to reduce production and distribution costs with the help of a Shark.
The Sharks are impressed with the product, which resembles a chainsaw and is perfect for holiday dinners. Kim has a patent for the invention, and they enjoy strong retail sales. However, due to the COVID-19 pandemic, they want to increase their direct-to-consumer sales.
All Sharks are interested in the product, with Mark and Barbara considering a joint deal. Kevin offers $100,000 for 33.3% equity, while Daymond offers $100,000 for 27.5% equity and initiates a countdown clock like Mark’s. Lori advises them to accept Daymond’s offer, and they ultimately do.
The Burneys thank Daymond and his team for helping them prepare for the “Shark Tank Effect,” and they finalize the deal. Daymond’s team works closely with the Burneys’ marketing team, helping them with vendor relationships.
This partnership results in a solid working relationship, and the company generates $8 million in annual revenue as of February 2022.
Net Worth of Mighty Carver Electric Knife
The company valuation was $500,000 during the pitch, after the investment done by Daymond John the company worth $400,000. Since then the company has a net worth of $450,000.
Mighty Carver Electric Knife Shark Tank Updates
Mighty Carver is an electric knife manufacturing company based in DeBary, Florida, that makes an electric food carving knife that looks like a chainsaw and sounds like it. The company was started by founder Kim Burney in 2016 after her grandfather passed away.
The Mighty Carver is designed to cut turkey, pineapple, or any food with an electric wire that can be connected to electricity. The knife has dual stainless steel blades and can be used to cut bread, fish, and a plethora of other items.
The Mighty Carver appeared on Shark Tank Season 12 Episode 4, where founders Lance and Kim Burney secured a $100,000 investment from Daymond John for 25% equity.
According to the company’s website, the original electric knife is still the Mighty Carver’s sole focus, and it sells for $74.99. The company has sold 8,500 units over the past 12 months and had around $200,000 between 2019 and its appearance on Shark Tank.
The Mighty Carver is available in stores like Amazon, Sharper Image, and Ace. The company has not provided any recent updates on its progress since its appearance on Shark Tank. However, the Mighty Carver is still available for purchase on its website and other online retailers.
Mighty Carver Electric Knife Shark Tank Table Summary:
| CATEGORY | DETAILS |
| Product Name | Mighty Carver Electric Knife |
| Founders | Kim and Lance Burney |
| Shark Tank Episode | Season 12 Episode 4 |
| Ask | $100,000 for 20% equity |
| Shark Tank Deal | $100,000 for 25% equity by Daymond John |
| Valuation Before Pitch | $500,000 |
| Valuation After Deal | $400,000 |
| Net Worth in 2021 | $450,000 |
| Revenue in 2022 | $300 million |
| Sales in 2019 | 5,000 units |
| Price | $89 |
| Retailers | Sharper Image, Ace Hardware, The Grommet, Hammacher Schlemmer, and Amazon |
| Annual Revenue (2022) | $8 million |
| Units Sold | 8,500 units over the past 12 months |
Mighty Carver Electric Knife FAQs
What Is Mighty Carver Electric Knife And How Does It Work?
The Mighty Carver Electric Knife is a carving knife that has the design and power of a chainsaw. It is fitted with dual stainless steel blades and an ergonomic handle to make turkey carving easy.
The knife is surprisingly light and easy to use, and it can be used on almost any food, including ham, cheese, fruit, vegetables, and bread. The Mighty Carver is not made to cut through bone, but it slices meat very well, especially thin-sliced.
To use the Mighty Carver, you simply plug it in, turn it on, and start slicing and dicing with the dual blades.
The knife is as simple to use as any other electric knife, and it comes with dishwasher-safe blades that snap out with a button, making it the easiest electric carving knife to clean. The Mighty Carver is an innovative take on traditional electric knives and has received positive reviews.
The Mighty Carver was invented after a family get-together where no one wanted to carve the turkey. With the Mighty Carver, everyone wants a piece of the fun, and it brings more families together.
The knife cuts cleanly and the ensemble makes quite an impression on dinner guests watching. The Mighty Carver is not limited to Thanksgiving and can be used at birthday parties and other events.
What Is The Power Source For The Mighty Carver Electric Knife?
The Mighty Carver Electric Knife is powered by 110 volts. To use the knife, you simply plug it in and turn it on. The knife is designed to be as simple to use as any other electric knife.
The Mighty Carver is fitted with stainless steel blades and an ergonomic handle to make turkey carving easy. The knife is surprisingly light, just like a traditional carving knife. The Mighty Carver is an innovative take on traditional electric knives and has received positive reviews.
Who is the founder?
Kim and Lance Burney, a husband and wife team, are the company’s co-founders. The dynamic duo established Lankim LLC in 2016. Prior to this, Lance primarily worked as a side hustler in real estate and timber land management.
What Was The Outcome Of The Mighty Carver Electric Knife Shark Tank Pitch?
During their Shark Tank pitch in Season 12, Episode 4, the founders of Mighty Carver, Lance and Kim Burney, asked for $100,000 for 20% equity. They secured a deal with Daymond John, who invested $100,000 for 25% equity in the company.
Since appearing on Shark Tank, Mighty Carver has become the show’s best-selling product and generated revenue of $300 million as of 20222. The company sells its products on its website and other platforms such as Amazon.
The net worth of Mighty Carver has increased to $450,000 in 2021 since receiving investment from Shark Tank. The Mighty Carver is an innovative take on traditional electric knives and has received positive reviews.
What Happened To Mighty Carver Electric Knife After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Mighty Carver became the show’s best-selling product and generated revenue of $300 million as of 2022.
The company sells its products on its website and other platforms such as Amazon. The founders, Lance and Kim Burney, secured a $100,000 investment from Daymond John for 25% equity.
According to a report, Mighty Carver’s net worth has increased to $450,000 in 2021 since receiving investment from Shark Tank. The Mighty Carver is an electric carving knife that looks like a chainsaw and is designed to make turkey carving easy.
It has received positive reviews and is an innovative take on traditional electric knives. The Mighty Carver is still the company’s sole focus, and it sells for $74.99.
How much were they seeking on Shark Tank?
They were seeking for $100,000 for 20% stake in their firm, which was worth $500,000.
Did they have the deal?
Yes, they finalized deal with Daymond John.
How much was the deal?
Daymond offered $100,000 in exchange for 25% stake in the firm which was valued at $400,000.
Is Mighty Carver Electric Knife still in business?
Yes, the company is still in business as of February 2022.
How much was the revenue of Mighty Carver Electric Knife?
The company was had $8 million in annual revenue.
What is the price of Mighty Carver Electric Knife?
The product is priced at $89 only.
Where can I buy the Mighty Carver Electric Knife?
Customers can order them from their official website www.mightycorver.com.
What are the benefits of Mighty Carver Electric Knife?
The benefits of Mighty Carver Electric Knife are as follows: Quickly and Easily Cut Through Various Raw Materials
The Mighty Carver has a sharp, electric knife head ready to carve the entire turkey. One can easily slice up the bird with this brilliant tool.
More than that, they can easily get prepared for their Thanksgiving holiday by cutting through other roasted goods like sweet potatoes, pumpkin, or stuffing. One just needs to flip the device on, attach the blade and start carving.
Is Mighty Carver Electric Knife safe to use?
The Mighty Carver has a number of features that make this device safe to use. One can always turn it on and leave it alone. It does not overheat and does not burn the fingers as well.
How many times can I use Mighty Carver Electric Knife?
One can use it numerous times with the blade changing system.
Is Mighty Carver Electric Knife having precaution?
Yes, the device is not made for long-term use. One needs to have it a reasonable frequency of change of blade.
What is the best time to use Mighty Carver Electric Knife?
It can be used anytime of the year both at home and while traveling.
What is a good way to dispose the used batteries?
One can dispose them in a responsible manner by contacting the service department.
Does Mighty Carver Electric Knife have a warrant?
Yes, they have a one-year limited warranty.
Is Mighty Carver Electric Knife useful in other applications?
The device is not limited to turkey cutting and can be used for different purposes. For instance, it can be used to slice bread or other baked goods.
Besides that, one can use the device for the purpose of making homemade fruit rollups or vegetable chips. It makes an excellent helper for the preparation of meals at home.
Is Mighty Carver Electric Knife use for cutting bones?
No, it is not. The Mighty Carver is used to cut through vegetables, fruits and other raw materials.
Is Mighty Carver Electric Knife shipping?
Yes, the device is shipped in a box.
Is Mighty Carver Electric Knife easy to use?
One does not require any specific skill to use the device. It is not difficult to flip on the handle for cutting. Moreover, one does not require any tool for changing the blades because it has an automatic blade change system.
I received my product and how do I use it?
Change blades according to instructions and then follow operating instructions of the device.
What is the net worth of Kim Burney?
The net worth of Kim Burney is unknown.
What is the net worth of Lance Burney?
The net worth of Lance Burney is unknown.
