What Happened to Potato Parcel After Shark Tank pitch?
What is Potato Parcel?
Is a website and company headquartered in the United States that sends potatoes with personalized messages that are limited to 140 characters or one image.
Who founded Potato Parcel?
Potato Parcel was created by Alex Craig, a mobile app developer.
Craig had the idea after seeing a photo of potatoes with stamps on them in 2015.
He went out and bought some potatoes and pencils, then set up a website and started selling his wares.
Customers compose their message online, and Potato Parcel distributes it to the recipient on a potato.
It is totally up to the consumer whether it is an anonymous gift or not. With the exception of “hateful, harmful, or threatening statements,” you may put whatever you want on your potato.
Your potato will be delivered to the recipient’s home within 24-48 hours.
A standard written message will cost you $9.99.
They can also print pictures ($14.99) or postcards ($12.99) with a potato.
A $4.99 upsell option is a little burlap bag.
Shipping is around $4.
Craig claims to make over $10,000 in sales per month.
They are most likely searching for a Shark to assist them with their marketing.
What Happened to Potato Parcel at the Shark Tank pitch?
In October 2015, Potato Parcel was sold for $40,000 to Bay Area entrepreneur Riad Bekhit and relocated to San Bruno, California.
Riad owns the firm, which he acquired from Alex for $40,000 in cash.
Alex earns a $1 per potato royalty for 60 days following Shark Tank.
Bekhit claims to use Pilot G2 gel roller pens to compose messages.
Since the move, other goods have been added such as Lump of Coal Potato (a black potato), Potato Pal (a potato with a photo of someone’s face), Potato Postcard (a postcard pasted onto a potato), and Spooky Tater (a potato with a photograph of someone’s face) (a potato painted to look like a pumpkin).
A burlap sack is also available for transportation.
Bekhit reported in April 2016 that monthly revenues ranged from $20,000 to $25,000.
Potato Parcel has expanded its shipping to Australia, Canada, Europe, and the United Kingdom.
Riad and Alex appear on Shark Tank in search of $50,000 in return for a 10% interest in their firm. The interrogation will then commence.
They discuss their business and distribute samples.
Except for Mr. Wonderful’s potato, which has a Sharks picture on it. “There’s nothing proprietary about this,” he insists.
They make different potatoes for different holidays, such as sweet potatoes for Valentine’s Day.
Until they see the sales figures, the Sharks assume the men are joking.
They’ve sold over 12,000 units since the company’s inception.
That is a large quantity of potatoes.
They’ve made $213,000, which they’re reinvesting back into the business.
Robert likes it, but the price is very exorbitant for him, so he declines.
Daymond feels they took the joke too far, therefore he’s leaving.
Lori is not far behind.
Mark isn’t persuaded they’re crazy, but he still goes out.
The word “royalty” shocked Mr. Wonderful awake.
He offers $50,000 in return for 10% of Alex’s royalties and half of his royalties for 60 days, after which he expects a dollar each potato until he recoups his $50,000 investment.
The guys respond with 17.5%, and Robert offers $50,000 for 25%.
After some back and forth, they decide to accompany Kevin because Robert refuses to accompany them.
What Happened to Potato Parcel After Shark Tank pitch?
The transaction was completed, and Kevin thinks it to be one of the best he’s ever done.
In 2021, Potato Parcel is predicted to be worth $1 million, with the firm having already dispatched over 70,000 gifts and earning over $700,000 in sales since appearing on Shark Tank.
As of May 2021, the business was still profitable, pulling in between $600,000-$700,000 per year.
What is the Net Worth of Potato Parcel?
As of early 2021, Potato Parcel’s net worth is predicted to be $1 million.
Who are the Potato Parcel’s Competitors?
Potato Parcel competes with firms like Postcards Plus, which began in the mid-2000s and currently has an estimated $3.1 million in revenue. Kate Spade. 102, Global Message Services – GMS, Upside Wireless, RainedOut, TeloGo Communications, and Answer America are among the others.
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Potato Parcel FAQS
Who owns Potato Parcel?
Riad Bekhit owns and launched Potato Parcel.
Is it true that potato packages aren’t identifiable?
Is it feasible for them to keep the contents of their communication private? – It is conceivable! Don’t disclose who sent the potato if they want the message to stay anonymous.
To put it another way, don’t sign their message with their name.
How much does it cost to ship a potato?
Mailing a potato is also not inexpensive. Postage might cost more than $4 each spud.
Did Potato Parcel Get a Deal on Shark Tank?
Kevin O’Leary made a $50,000 for 10% offer to Alex Craig and Riad Bekhit on Shark Tank Season 8 Episode 6.
How much does Potato Parcel cost?
They can send a Potato Pal – a potato topped with a snapshot of someone’s face — for $14.99.
When was Potato Parcel on Shark Tank aired?
Potato Parcel broadcast on October 26th, 2016.
How old is Potato Parcel?
Alex Craig started Potato parcel in May 2015.
Where is Potato Parcel located?
They are in the city of San Bruno, California.
How do you send a potato parcel?
When they place their order, their text will be transformed into a potato stamp.
Then, their statement is printed on the exterior of the package, and a tiny bag of loose potatoes is placed inside.
The potatoes are pre-printed with their text before being placed in little plastic bags to prevent spoilage.
How many potatoes are shipped at once?
Potato Parcel sends out around 100 potatoes every shipment.
Potato Parcel products?
Potato Parcel provides items such as potato stampers, which allow consumers to imprint images on the spuds, and postcards.
They also sell little burlap bags in which to transport potato-boxed presents. All 10 of their goods are $9.99 plus $4 shipping.
Potato Parcel founder?
Potato Parcel was founded by Alex Craig.
Is Potato Parcel safe to eat?
Although the spuds are normally safe to consume, they can nevertheless transmit infections.
If they get a potato like this, toss it out.
Also, make sure any potatoes they consume haven’t been left outside for too long, but if they’ve been placed in the shade and aren’t over-ripe, eat them.
Is Potato Parcel available in stores?
Potato Parcel is offered on Amazon, where they can get potatoes in bulk for $1.98 per potato.
When Alex did sold Potato Parcel to Riad?
In October 2015, Alex Craig sold Potato Parcel to Riad Bekhit for $40,000.