XTorch Net Worth
In the TV show “Shark Tank” season 12 episode 22, Keidy and Gene made an appearance with the aim of securing $150,000 from the investors in exchange for a 10% stake in their company. This means that they were valuing their company at $1.5 million at the time of the pitch.
The couple was hoping that the investment from the Sharks would provide them with the necessary funds to scale up their business and take it to the next level. They were eager to demonstrate their product and explain the advantages of investing in their company.
What is XTorch and Who is the Founder of XTorch?
The XTorch is a versatile device that combines a flashlight, a lantern, and a phone charger. It was designed to help people in developing countries cope with unreliable electricity and also serves as a handy tool for outdoor activities like camping.
The XTorch can be charged using a standard USB cord in just one hour, or by solar power, which takes about 22 hours. A fully charged XTorch can provide illumination for up to 48 hours. It is also durable and can survive being dropped on the ground 20 times, according to its founder Gene.
Gene and his wife Keidy Palusky are the husband and wife team behind the creation of XTorch. Before starting XTorch, Gene was a real estate expert who would buy, renovate, and sell properties for profit.
However, after traveling to impoverished countries on mission trips, he became aware of the need for a reliable light source in areas with unreliable electricity.
The idea for XTorch was born when Gene saw that children in developing countries were unable to read or do homework due to a lack of electricity. They would rely on dangerous kerosene torches to complete their work, which was both hazardous and expensive.
Additionally, they couldn’t charge their phones, which were critical communication tools in underdeveloped areas.
Gene and Keidy developed XTorch as a solution to these challenges. They have distributed more X Torches to households in developing countries than they have sold. Gene believes that they will become profitable by 2020 without investing in production tooling or research and development.
Their plan is to expand XTorch sales through online and physical retail, with the aim of making a profit and contributing 25% of their earnings to underdeveloped countries in the form of XTorch.
XTorch Shark Tank
During their appearance on season 12 episode 22 of Shark Tank, Keidy and Gene pitched their business and product, XTorch, and asked for $150,000 for a 10% stake, valuing their company at $1.5 million.
They demonstrated the XTorch’s features, including its ability to be charged using solar power or electricity, and its durability. However, the Sharks were not fully convinced and questioned the viability of their product.
Kevin suggested that they sell directly to consumers for $29.95, but ultimately he decided not to invest. Mark and Daniel also opted out due to concerns about the price and sales figures.
Robert offered to buy the entire company for $400,000, but Gene countered with a $1 million offer. Lori also decided not to invest due to the competition in the market. Ultimately, no deal was made and the couple left without an offer.
Despite not securing an investment from the Sharks, the couple sold out of all their 1400 units in stock following the show. They continued to sell exclusively through their website via pre-orders, and aim to expand their business and provide more light to underdeveloped countries.
XTorch Net Worth
Keidy and Gene appear on Shark Tank season 12 episode 22 in search of $150,000 for a 10% stake in their firm. This equates to a $1.5 million valuation.
XTorch Competitors
There is no competitor identified for XTorch.
XTorch FAQS
What is XTorch?
The XTorch is a three-in-one gadget that includes a lantern, a flashlight and a phone charger. The gadget was designed specifically for persons dealing with unpredictable energy (like those in developing countries).
The product is also useful for those who enjoy camping and wilderness excursions. The XTorch can be charged using a standard USB cord, and it takes one hour to completely charge.
It may also be charged by sunlight, which takes around 22 hours. XTorch can offer illumination for 48 hours on a full charge.
Who founded XTorch?
Gene and Keidy Palusky, a husband and wife team, created XTorch. Gene was a real estate expert before to launching the firm. He would acquire properties, remodel them, and resell them for a profit.
How much was they seeking in the Shark Tank?
Keidy and Gene were in search of $150,000 for a 10% stake in their firm.
Did they get the deal from the Sharks?
Despite Robert Herjavec’s offer to entirely buy them out for $400,000 and another offer for $500,000, the couple rejected and exited Shark Tank without a contract.
Is XTorch still in business?
Yes, the firm sold out of all 1400 units they had in stock during the weekend following their debut appearance. They exclusively sell on their website through pre-orders.
Where can they find the XTorch?
XTorch currently sells on its website. They also sells on amazon.
How much does XTorch cost?
On the official website, the XTorch is offered for the low price of $49.95. It’s also available on Amazon for $55.95.
When was XTorch aired on Shark Tank?
XTorch was aired on Shark Tank on April 23rd, 2021.
What episode was XTorch featured on Shark Tank?
XTorch was featured on Shark Tank season 12 episode 22.
Where is XTorch based?
The company is based out of Edina, Minnesota.
Are XTorch rechargeable?
The XTorch is rechargeable by a standard USB cord, sunlight, or electricity. It takes one hour to completely charge the device.
What devices does XTorch work with?
The XTorch works with iPhone, iPad and Android devices. The product is packed with a long-lasting battery that can be used for reading and writing via lamp mode.
Does XTorch work in the dark?
Yes. The solar-powered XTorch works during the night and day. It also works even when it’s raining or snowing. The company asserts that the gadget can provide illumination for 48 hours on a full charge.
How long does it takes to full charge XTorch?
Solar charging takes 22 hours and electricity charging takes 1 hour.
What makes XTorch unique?
The XTorch includes a lantern, a flashlight and a phone charger.
What are the strengths of XTorch?
The XTorch is solar powered, rechargeable and it’s also lightweight. The device can provide illumination for 48 hours on a full charge.
