What Happened to Snactiv Snacking Tool after Shark Tank? Snactiv Snacking Tool Shark Tank Update
What is Snactiv Snacking Tool?
Snactiv Snacking Tool is the future’s multi-tasking munching gadget that keeps your hands clean and your focus on what matters.
Snactiv is a utility patent-pending, entirely unneeded, yet really cool snacking item with one purpose: to stuff more food into your enormous mouth without interfering with your activities or contaminating your garbage with oil or snack detritus.
If you’ve ever eaten potato chips or Cheetos, you know how messy they make your hands. You would surely not want to work on your computer while snacking on these treats; they would smear your keyboard.
That is no longer an issue with Snactiv. Consider a hybrid between tweezers and chopsticks. Simply slip them between your middle and forefinger on your hand and you can easily grab a food without using your hands.
Who is the founder of Snactiv Snacking Tool?
Snactiv Snacking Tool was founded by Kevin Choi and Evans Cho. Choi and Cho are familiar with the process of bringing items to market.
They are designers and engineers with extensive expertise developing a variety of products ranging from software to toys. The men have previously collaborated with large corporations such as Mattel, Disney, Hasbro, Fuhu, and ZipRecruiter.
Their product is a huge popularity with gamers, computer users, and anybody else who wants to munch without soiling their fingers. Greasy potato chips and gaming consoles simply do not mix.
They began with a successful Kickstarter campaign in April 2021, raising $41,700.
They sent the completed device in October 2021, but by then, countless knockoff items had been accessible online.
A Snactiv is available in two modes: “dark mode” (all-black) or “bright mode” (white). A single item costs $15, or $18 if purchased with a case. They are dishwasher safe and contain no BPA.
What Happened to Snactiv Snacking Tool at Shark Tank pitch?
In Shark Tank episode 1312, Kevin Choi and Evan Cho want a Shark to bite on Snactiv, “finger chopsticks” that allow you to nibble without getting your hands filthy. They want a Shark to assist them in eradicating counterfeit goods.
Kevin and Evan entered the Shark Tank in seeking of $200,000 in exchange for a 10% stake in their firm, which worth $2 million.
They begin their pitch with Kevin devouring cheese balls haphazardly. He stated that he was sick of being a slob. He stated that he attempted using chopsticks. The Sharks chuckle as they finally display the product.
Mr. Wonderful inquires whether you can type with these on: YES, YOU CAN. They cost $2.60 without the case and $2.80 with the case.
He had the notion while working at home and getting his hands dirty munching during Covid lockdowns. They have been open for five and a half months and have generated $187,000 in revenue.
Kevin Hart declares that he enjoys it. They intend to enter the retail market and are in discussions with Asian distributors. They are pursuing a utility patent.
Mr. Wonderful offers $200,000 in exchange for a royalty of $1 per unit until he recoups $1 million, at which point the royalty ceases and he maintains 10% equity shares.
Kevin Hart and Lori are considering collaborating. Kevin Hart and Lori offer $200,000 in exchange for 20% equity.
Mark instructs them to respond affirmatively. When the Snactiv people offer a 15% stake, Mr. Wonderful reduces his equity to 5% and his royalty to 50 cents.
They finally accept Kevin Hart and Lori’s offer and walk away with a deal.
What Happened to Snactiv Snacking Tool after Shark Tank?
After the episode was aired and the guys exit the pitch with a deal, the deal with Lori and Kevin Hart is under due diligence. As of February 2022 the company is still in business.
Competitors of Snactiv Snacking Tool
The competitor of Snactiv is every other hand-free munching gadget. Snactiv Snacking Tool competing with standard chopsticks.
Net Worth of Snactiv Snacking Tool
The company valuation was $2 million during the pitch, after the investment done by two Sharks the company worth $1 million.
Since then the company is still operating and hence the company net worth might have been higher than that of pitch.
Snactiv Snacking Tool FAQs
What is Snactiv Snacking Tool?
Snactiv is the future’s multi-tasking munching gadget that keeps your hands clean and your focus on what matters.
Who is the founder?
Kevin Choi and Evans Cho are the founders of Snactiv Snacking Tool. Choi and Cho are designers and engineers with extensive expertise developing a variety of products ranging from software to toys.
How much was seeking on Shark Tank?
They were seeking for $200,000 for 10% equity of their business.
What was Shark Tank investment?
Kevin Hart and Lori Greiner invested $200,000 for 20% of Snactiv Snacking Tool.
Is Snactiv Snacking Tool still in business?
Yes, the company is still in business as of February 2022.
Is Snactiv still being sold?
Yes, Snactiv is available at many retail locations including: Target, Walmart, and Amazon online.
Where is Snactiv Snacking Tool located?
Snactiv is owned and operated by Kevin Choi and Evan Cho in San Francisco, California.
Is Snactiv Snacking Tool safe?
Snactiv is made of high quality food-grade plastic, FDA Approved, BPA free, Dishwasher Safe, and built to last for years.
What is Snactiv Snacking Tool used for?
Snactiv is used by gamers, computer users, and anybody else who wants to munch without soiling their fingers. Greasy potato chips and gaming consoles simply do not mix.
What is Snactiv Snacking Tool made of?
The products are manufactured in high-impact ABS plastic. The custom-designed polygonal razor sharp teeth are crafted from a special type of polymer that is highly resistant to wear and tear, eliminating chips and cracking from normal usage.
What is the cost of Snactiv Snacking Tool?
A pair of Snactiv costs $15, and an extra $3 gets customers a case to keep their priceless finger chopsticks safe when not in use. At the moment, the tools are offered in two flavors: dark mode (all-black) and bright mode (white color).
Is Snactiv Snacking Tool a legitimate company?
Snactiv is a utility patent-pending, entirely unneeded, yet really cool snacking item with one purpose: to stuff more food into your enormous mouth without interfering with other activities or contaminating their garbage with oil or snack detritus.
Is Snactiv Snacking Tool shipping?
Yes, Shipping is free and customers can cancel their order at any time.
How long will Snactiv Snacking Tool take to deliver their products?
It depends on the location, please note that it takes 1-5 business days to deliver the products. Ships are done in 1-5 business days through USPS.
Is there any guarantee time of Snactiv Snacking Tool?
There is no guarantee time provided by ColoredBits. Buyers are advised to order a product with enough time, so they will have a chance to check out if they can like the product before purchasing it.
How do I pay for Snactiv Snacking Tool?
You can pay for Snactiv Snacking Tool with your credit card or debit card through PayPal.
What payment methods are there for Snactiv Snacking Tool?
There are three types of payment methods for Snactiv: Credit cards, PayPal and Billing.
Who is the CEO?
The CEO is Kevin Choi.
What is the net worth of Kevin Choi?
The net worth of Kevin Choi is unknown.
What is the net worth of Evans Cho?
The net worth of Evans Cho is unknown.