What happened to Snactiv Snacking Tool After it was shown on Shark Tank?
What is Snactiv Snacking Tool?
Snactiv Snacking Tool is the multi-tasking munching device of the future that keeps your hands clean and your concentration on what counts.
Snactiv is a utility patent-pending, utterly unnecessary, yet incredibly cool snacking device with one purpose: to push more food into your largemouth without interfering with your activities or polluting your waste with oil or snack debris.
If you’ve ever eaten potato chips or Cheetos, you know how messy they make your hands. You would not want to work on your computer while eating these sweets since they would dirty your keyboard.
That is no longer an issue with Snactiv. Consider a cross between tweezers and chopsticks. Simply put them between your middle and fingers on your hand and you may effortlessly grasp a snack without using your hands.
Who is the founder of Snactiv Snacking Tool?
Kevin Choi and Evans Cho established Snactiv Snacking Tool. Choi and Cho are well-versed in the process of bringing products to market.
They are designers and engineers with vast experience designing a wide range of items ranging from software to toys. The men have previously worked with significant organizations such as Mattel, Disney, Hasbro, Fuhu, and ZipRecruiter.
Their product is extremely popular among gamers, computer users, and anybody else who wants to eat without smearing their fingers. Greasy potato chips and gaming consoles simply do not mix.
They launched with a successful Kickstarter campaign in April 2021, raising $41,700.
They delivered the full device in October 2021, but by then, a plethora of imitation things were available online.
A Snactiv may be used in two modes: “dark mode” (all-black) or “bright mode” (white). A single item costs $15, or $18 if purchased with a case. They are dishwasher safe and contain no BPA.
What Happened to Snactiv Snacking Tool at Shark Tank pitch?
In Shark Tank episode 1312, Kevin Choi and Evan Cho want a Shark to bite on Snactiv, “finger chopsticks” that allow you to munch without getting your hands unclean. They want a Shark to help them eradicate counterfeit products.
Kevin and Evan appeared on Shark Tank in seeking of $200,000 in return for a 10% stake in their company, which worth $2 million.
Kevin begins their presentation by recklessly munching cheese balls. He remarked that he was tired of being a slob. He said that he tried using chopsticks. The Sharks chuckle as they finally show off the goods.
Mr. Wonderful asks if you can type with them on: YES, YOU CAN. They cost $2.60 without the case and $2.80 with the case.
He developed the idea while working at home and getting his hands messy snacking during Covid lockdowns. They’ve been operating for five and a half months and have made $187,000 in revenue.
Kevin Hart claims that he likes it. They plan to join the retail industry and are in talks with Asian distributors. They are pursuing a utility patent.
Mr. Wonderful gives $200,000 in return for a $1 per unit royalty until he recoups $1 million, at which point the royalty expires and he retains 10% equity shares.
Lori and Kevin Hart are thinking about working together. Kevin Hart and Lori offer $200,000 in return for 20% equity.
Mark instructs them to respond positively. When the Snactiv folks offer a 15% stake, Mr. Wonderful cuts his stock to 5% and his royalty to 50 cents. They ultimately accept Kevin Hart and Lori’s offer and walk away with a deal.
What Happened to Snactiv Snacking Tool After Shark Tank?
The deal with Lori and Kevin Hart was currently under due diligence after the show aired and the guys depart the pitch with a deal. The company is still operating as of February 2022.
Competitors of Snactiv Snacking Tool
Every other hand-free eating device is a rival to Snactiv. Snactiv Snacking Tool competes with conventional chopsticks.
Net Worth of Snactiv Snacking Tool
During the pitch, the firm was valued at $2 million; after the two Sharks invested, the company was valued at $1 million. Since the company has continued to operate, its net worth may have exceeded that of pitch.
Snactiv Snacking Tool FAQs
What is Snactiv Snacking Tool?
Snactiv is the future’s multi-tasking chomping device that keeps your hands clean and your concentration on what counts.
Who is the founder?
The founders of Snactiv Snacking Tool are Kevin Choi and Evans Cho. Choi & Cho are designers and engineers with vast experience producing a wide range of items spanning from software to toys.
How much money was sought on Shark Tank?
They were looking for $200,000 for a 10% stake in their company.
What was the Shark Tank investment?
Kevin Hart and Lori Greiner invested $200,000 in Snactiv Snacking Tool for a 20% stake.
Is Snactiv Snacking Tool still in business?
Yes, the company is still in operation as of February 2022.
Is Snactiv still on the market?
Yes, Snactiv is available through a variety of retail outlets, including Target, Walmart, and Amazon.com.
Where is Snactiv Snacking Tool located?
Kevin Choi and Evan Cho own Snactiv in San Francisco, California.
Is Snactiv Snacking Tool safe?
Snactiv is manufactured of high-quality food-grade plastic, is FDA approved, BPA free, dishwasher safe, and is meant to last for years.
What is the purpose of the Snactiv Snacking Tool?
Snactiv is used by gamers, computer users, and anybody else who wants to eat without getting their hands dirty. Greasy potato chips and gaming consoles simply do not mix.
What is the Snactiv Snacking Tool composed of?
The goods are made of high-impact ABS plastic. The custom-designed polygonal razor sharp teeth are made of a particular form of polymer that is very resistant to wear and strain, eliminating chipping and cracks from typical use.
What is the price of Snactiv Snacking Tool?
A pair of Snactiv costs $15, and for an additional $3, consumers can acquire a case to keep their expensive finger chopsticks safe when not in use. At the present, the tools are available in two flavors: dark mode (all-black) and bright mode (white color).
Is Snactiv Snacking Tool a reputable business?
Snactiv is a utility patent-pending, utterly unnecessary, yet incredibly interesting snacking device with one purpose: to push more food into your largemouth without interfering with other activities or polluting their rubbish with oil or snack debris.
Is the Snactiv Snacking Tool available for purchase?
Yes, shipping is free, and clients can cancel their orders at any moment.
How can I get in touch with Snactiv Snacking Tool?
Customers can visit their official website at https://linktr.ee/snactiv inoobi.
How long will it take Snactiv Snacking Tool to deliver their products?
It depends on where you are, however please keep in mind that it takes 1-5 business days to deliver the merchandise. Shipments are completed within 1-5 business days through USPS.
Is there a time guarantee for the Snactiv Snacking Tool?
ColoredBits does not guarantee timing. Buyers should order a product with ample time to see if they like it before purchasing it.
How can I pay for Snactiv Snacking Tool?
Snactiv Snacking Tool may be purchased using PayPal with a credit or debit card.
What payment methods are available for Snactiv Snacking Tool?
Snactiv accepts three modes of payment: credit cards, PayPal, and billing.
Who is the CEO?
Kevin Choi is the company’s CEO.