XTorch Shark Tank Update | What Happened to XTorch at the Shark Tank?
Table of Contents
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.
The XTorch has a lifespan of 7-10 years and is extremely durable. According to Gene, the XTorch floats in water and can be tossed on the ground 20 times and still operate.
Who is the Founder of 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.
Later in life, he became active in missionary and charitable activities in poor nations. On one of these trips to Colombia, he met his wife Keidy. The Paluskys are in command of XTorch right now.
When the Paluskys viewed the shaky electricity infrastructure in impoverished nations, they got the concept for The X Torch.
If there was no electricity, youngsters couldn’t read and had to rely on unsafe kerosene torches to accomplish their homework.
They were also unable to charge their phones, which are an essential source of communication in underdeveloped countries.
They solved these challenges by producing XTorch.
They’ve given out more X Torches to developing-country households than they’ve sold. Gene asserts that they will be profitable by 2020 since they will not need to spend in tooling or R&D for production.
They aim to expand into physical retail and sell more online in order to make a profit and, in turn, provide additional lights to underdeveloped countries.
Their objective is to contribute 25% of their income to underdeveloped countries in the form of X Torches.
What happen to XTorch at the Shark Tank?
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 $1.5 million valuation.
They describe their product and make their pitch. Gene really breaks a slab of ice that contains a frozen XTorch.
Gene must demonstrate how it works to Lori and the other Sharks. Solar charging takes 22 hours and electricity charging takes 1 hour.
They cost $18.50 to create and $55.95 to sell. The manufacturing cost will be reduced to $14 in the next production cycle.
They spend about a minute describing their background. They’re attempting to explain how their flashlight differs from others, but the Sharks keep responding, “it’s a flashlight.”
When they inform the Sharks that they provide lights to non-profits, Kevin questions if they are a company or a charity.
So far in 2021, they have sold $53,000 in the previous year (2019). They do not own any patents. Kevin believes they should sell direct to the consumer for $29.95; he is out.
Mark thinks it’s a terrific product, but they haven’t sold enough of it, so he’s out. Daniel isn’t happy with the price, so he’s out.
Robert claims to enjoy the product but wishes to purchase the entire firm. He makes a $400,000 offer. Gene responds with $1 million.
According to Lori, there is a lot of competition. She leaves. When Robert reaches $500,000, Gene reaches $750,000, and Robert exits. The couple leaves the Tank without an offer.
XTorch after the Shark Tank Pitch
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.
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 $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.
