What Happened to Caffeindicator After Shark Tank?
What is Caffeindicator?
Caffeindicator is a coffee testing gadget that tells the user whether or not their order contains decaf. In essence, it is a litmus-like (water-soluble) tester that is placed into sugar or sweetener packets and changes color when caffeine is present.
Michael received the idea while ordering a decaf coffee after receiving a regular caffeinated coffee by mistake, which caused him to have a restless night.
The Caffeindicator was created by Michael Schiavone, a resident of Mount Joy, Pennsylvania.
According to his LinkedIn profile, Michael is presently employed as a Senior Sales Engineer for an industrial automation firm that specializes in the design and development of production systems.
Who is the founder of Caffeindicator?
Michael Schiavone of Mount Joy, Pennsylvania, established the Caffeindicator. Schiavone stopped for a late-night cup of coffee while on a business trip with his wife. His idea and product is called the Caffeindicator, and it is a little testing gadget that can be used to check whether or not your coffee contains caffeine.
Michael Schiavone conceived the concept for Caffeindicator while on a business trip. He claims to have ordered a cup of coffee, but he chose decaf in order to sleep.
However, the barista handed him a cup of regular coffee, which kept him up all night. Michael Schiavone reasoned that this had to happen all the time: people ordering decaf but receiving regular coffee instead.
What Happened to Caffeindicator’s Shark Tank Pitch?
In Shark Tank episode 114, Michael Schiavone hopes for a nice deal for Caffeindicator, his caffeine litmus test sugar packets. He wants a Shark to help his product become a proprietary component of their packaging, allowing one or more sweetener companies to monopolize the market for sales to caffeine-averse customers.
Schiavone entered the Shark Tank seeking for a $200,000 investment in return for a 25% stake in his business, which worth $800,000.
He observes that people commonly lack a taste for coffee due to medical difficulties. Even clients who do not use sweeteners will try the packets since they are “dynamic, fascinating, and nice to share.”
Schiavone plans to take a $500,000 market share and increase it to $1 billion. “What we’re leveraging is market share on a global basis,” he tells the Sharks.
The Sharks want to know if he’s ever approached sweetener companies with his plan. He hasn’t, telling them that he is giving them the opportunity to “open the door” to conversations.
They then want to know the production cost. Schiavone observes that when the packets are mass-produced, the production costs drop dramatically.
Robert Herjavec wants to know if the testing strip will raise the cost of creating the packets by “fractions of pennies.” Schiavone confirms this.
According to Kevin O’Leary, selling the product is predicated on the “big five” in the sweetener industry accepting the idea that the product will significantly increase their sales.
Schiavone agrees, but adds that it’s also feasible that one of the firms may buy it to “bury it” in order to prevent competitors from gaining the technology.
“You know, there’s something nasty about you that I adore,” O’Leary continues, looking taken aback. “You’re attempting to start a bidding war in a very, very structured market.”
Barbara Corcoran wonders if people are “that concerned” about caffeine in their beverages. She also believes that if the sweetener companies buy into the idea, they would have to invest more in marketing. She goes out. Daymond John agrees and follows in Corcoran’s footsteps. He exits.
Robert Herjavec has showed an interest. He makes an offer: he’ll give Schiavone $200,000 in exchange for a 60 percent ownership and a deal with a sweetener business.
Kevin Harrington joins in soon away, offering $200,000 for 50% equity shares with the same conditions.
Kevin O’Leary enters the fray, but he takes too long. When pressed for a decision, Schiavone accepts Harrington’s offer. He exits the Shark Tank with a $200,000 deal in exchange for 50% ownership of his company.
What Happened to Caffeindicator After Shark Tank?
The deal with Kevin was never consummated following the pitch, and Caffeindicator never looked to take flight.
For a short time, there was considerable enthusiasm over the idea in various special interest publications, but then the media, including Schiavone, became silent.
After all, it appears that the sweetener industry didn’t believe his idea was that sweet. Perhaps it was acquired by a company in order to “hide it.” They might never find out. As 1 January 2022, the firm is no longer in business.
Caffeindicator’s Net Worth
During the pitch, the firm was valued at $800,000; however, the company has since gone out of business, and the company’s net worth is unavailable.
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What exactly is Caffeindicator?
Caffeindicator is a caffeine indicator tester may be used to assess whether or not a caffeinated beverage includes decaf. It is comparable to a litmus test, which is used in the home to determine the acidity or alkalinity (pH) of water or other liquids. In essence, it is a tester that is placed into sugar or sweetener packets and changes color when caffeine is present.
Who is the creator?
Michael Schiavone of Mount Joy, Pennsylvania, is the creator.
How much was sought on Shark Tank?
Schiavone was looking for $200,000 in return for a 25% stake in the Sharks. He said that this was worth $800,000 to the company.
Did he get the deal?
Yes, he did have the deal. The Sharks made a $200,000 bid for 50% of the firm’s equity shares, but the deal was never completed.
Is Caffeindicator still in business?
Caffeindicator is no longer in business. As on January 20, 2022, the firm is no longer in operation.
Where was Caffeindicator located?
Caffeindicator is situated in Mount Joy, Pennsylvania.
Where can I find Caffeindicator?
Caffeindicator is no longer in operation, and it is no longer available for buy online.
What was Caffeindicator’s proposal on Shark Tank?
In Shark Tank episode 114, Michael Schiavone hopes for a nice deal for Caffeindicator, his caffeine litmus test sugar packets.
Was Caffeindicator a scam?
Caffeindicator was not a scam. The product was feasible, but the firm did not take off and is no longer in business.
What exactly is decaffeinated coffee?
Decaffeinated coffee is coffee that lacks caffeine. It has no caffeine at all. People who have experienced heart palpitations and/or sleeplessness as a result of drinking caffeinated beverages frequently convert to drinking Decaff coffee.
Was Caffeindicator safe to consume?
Caffeine indicator packets are safe to eat and harmless to both people and animals. Caffeine is an alkaloid found in a number of plants, including cacao beans, coffee beans, tea leaves, cola nuts, and kola nuts.
It is a stimulant that works by inhibiting the activity of adenosine on cell membranes. It causes your brain to focus on things other than sleep or heart palpitations.
Caffeindicator was not authorized by the FDA. It was only a notion, and there was no proof that it would be viable without FDA approval.
What is caffeine?
Caffeine is a stimulant substance found in coffee, tea, kola nuts, cocoa beans, and Guarani plants. Caffeine is most typically used to treat chronic pain, sleep disorders, and general weariness.
It also aids in the treatment of high blood pressure, headaches, and depression. It may be found in natural tablets and drinks, as well as energy drinks and some alcoholic beverages like as coffee liqueur.