What Happened to Kitchen Safe After Shark Tank?
What is Kitchen Safe?
Kitchen Safe is a plastic container timer. When a user’s account is locked, he or she is unable to access its contents until the timer expires. Originally, the plastic container was intended to keep people from eating junk food.
The product’s scope, however, was expanded to include putting phones, whiskey, and other addictive items in the container.
To reflect the change in usage, Kitchen Safe was renamed kSafe. David Krippendorf and Ryan Tseng created KSafe. Prior to assisting on the creation of kSafe, David worked in the financial business in a range of capacities.
Ryan, his buddy, was a computer engineer. The couple is still under the supervision of KSafe. They have used their position as leaders to expand the company’s reach.
Who is the founder of Kitchen Safe?
David Krippendorf and Ryan Tseng founded KSafe. Prior to assisting on the creation of kSafe, David worked in the financial business in a range of capacities. Ryan, his buddy, was a computer engineer.
Krippendorf devised the idea as a way to force himself to practice self-control and resist his cookie desires.
The concept is simple: if you have junk food nearby that you’re scared you’ll eat in a binge session, you can lock it away for a period of time.
The Kitchen Safe is made of BPA-free, food-grade plastic, yet it is capable of holding more than just food. It may be used by parents to keep toys and by individuals to charge their phones while eating!
The Kitchen Safe was funded on Kickstarter in July of 2013. The product was well-liked, earning around $300,000 in 11 months. The product is available on Amazon as well as the company’s website.
What Happened to Kitchen Safe at Shark Tank Pitch?
Inventors and entrepreneurs David Krippendorf and Ryan Tseng propose The Kitchen Safe, a time locking container, in Shark Tank episode 16 of Season 6. They’re looking for a Shark to help with large-box distribution and finances to pay orders.
David and Ryan entered the room and proudly exhibit their goods. They were seeking for $100,000 for a 5% stake in their Kitchen Safe, which worth $2 million.
As they display the products, the Sharks chuckle at their odd pitch. David refers to it as a “commitment device” that helps him avoids temptation. They provide samples to the Sharks.
Mark protests about not having the ability to overrule the product, but the other Sharks dismiss his concerns. They’ve sold $300,000 in 11 months and have a buy order with HSN.
They are $14.50 apiece, with a selling price of $49 each. Mr. Wonderful thinks it’s too expensive.
They have four patents on the gadget and believe it was ready for commercialization. Nick Woodman argues that the name limits the brand’s potential. The Sharks then put into question the value.
According to David, they were offering the business to the Sharks at a discount. Mr. Wonderful calls it rubbish, and David bursts into tears.
The other Sharks tell Kevin to stop talking. Mr. Wonderful goes out, as Lori entered and says she’s going to make an offer. Before Lori can make her offer, David defends his wares and has a disagreement with Mr. Wonderful.
Following a commercial break, Daymond shows his respect for their tenacity and offers $100,000 in return for a 20% stake in the company.
David states that he designed the gadget to help people. Lori then offers $100,000 in exchange for 20% equity if they select QVC over HSN.
Nick entered the room and gives Lori an additional $100,000 for a total of $200,000 in exchange for 30% ownership of the company.
While Nick and Lori chat, Daymond and Lori spar a little. They offer $100,000 in exchange for 20% stock and declare that they both believe in them.
The Kitchen Safe guys make an offer of $200,000 for 10% stock shares, but Nick and Lori refuse.
Daymond grows furious when Mark argues he’s not out because they’re ignoring him. They strike a deal with Nick and Lori. Finally, they concluded the pitch with a deal.
What Happened to Kitchen Safe After Shark Tank?
After the show aired, the deal with the Sharks was never consummated, and they departed the pitch with a deal from two Sharks, but they took Nick’s advice and changed the name to kSafe.
They also created a smaller model, which rapidly became their best-selling product. The company is still in business as of December 2021, with annual revenue of $5 million.
Kitchen Safe’s Competitors
Ziploc is Kitchen Safe’s biggest competition.
Kitchen Safe’s Net Worth
During the pitch, the firm was valued at $2 million. The company has an estimate net worth of $5.4 million.
Kitchen Safe FAQs
What is the Kitchen Safe?
Kitchen Safe is an insulated container to help users avoid impulsivity and the stress of addiction.
How much does the Kitchen Safe cost?
The Kitchen safe is available for $49 on Amazon.
Where can you buy the Kitchen Safe?
Customers may purchase this product on Amazon as well as their website.
What colors are available?
This product in four colors: clear, black, red, and purple.
What sizes are available?
The Kitchen Safe is available in two sizes: one that holds 25 ounces and another that holds 50 ounces.
Are there any side effects?
The product is made of BPA-free plastic and is non-toxic. There are no reported side effects.
How long does it take to cool and reheat food?
It takes approximately two minutes for the Kitchen Safe to cool and reheat food.
How many uses are there?
It can be used over and over again by washing it out with soap and water.
Does this fit in a cooler?
The container fits in a cooler as well as in a car’s cup holder.
What is Kitchen Safe made of?
Kitchen Safe is made of BPA-free, food-grade plastic.
What do the smaller Kitchen Safes hold?
This product holds 25 ounces of food in one container and 50 ounces in a smaller container.
When will my order be delivered?
Orders typically take 2-3 days to process and ship, but can take up to 5–10 days depending on their local postal service.
How do I return my product?
If customers are not satisfied with their purchase, they may return the product within 30 days of delivery for a full refund. They will be responsible for paying for their own shipping costs for returning their item.
Do you offer free shipping?
Yes, simply spend $49 or more on their location and shipping is on them! Spend less than $49 and they’ll cover shipping as thanks to their customers.
Is the Kitchen Safe dishwasher safe?
Yes! Kitchen Safe is dishwasher safe. It has no chemicals, oils, or scents that could affect its use.
Are you affiliated with the National Addictions Foundation?
No, this product is not connected to the National Addictions Foundation.
Does Kitchen Safe contain any chemicals or flavors?
Kitchen Safe does not contain any residual flavors or chemical residue. It may smell like plastic, but it is odorless and tasteless.
Do I need to seal my container?
Customers will have better success if they keep the lid on until ready to use, but at least give it a good press down before putting it in water.