What Happened to Tenikle After Shark Tank?
What is Tenikle?
Tenikle is a versatile phone/camera holder with a 360° suction cup that outperforms unstable tripods. In addition, because the Tenikle is bendable and flexible, it may be wrapped around poles, tree branches, golf clubs, or just about anything that needs solid support.
Furthermore, although phones, GoPros, and cameras may be attached to the device via the suction cups, it also has an attachable phone clip for convenience.
Hans and Lydia Dose, a husband and woman duo, started their business in their garage as many successful entrepreneurs do. Tenikle, a tripod with tentacle-like suction cups, is designed for content creators as well as beginner photographers.
Who is the founder of Tenikle?
Tenikle was founded by Hans and Lydia Dose, a husband and wife combination. He came up with the concept after shattering his phone on some pebbles while attempting to put it up on a tree for a photograph.
When he put his phone on a suction cup attached phone holder in his car on the way home, he had an epiphany. He reasoned, “Tripod plus tentacles Equals a third hand to replace all other mount attachments.”
Tenikle resembles a Gumby toy that you may have had as a youngster. It’s a three-legged, bending tripod with octopus-shaped suction cups.
It may also be used for much more than simply a tripod. It may also serve as a car mount, selfie stick, phone stand, and other functions. There is also a phone clip that may be attached to the gadget.
He raised the necessary funds through a successful Kickstarter campaign in September 2017 that netted him $107,283. He also raised $126,922 on IndieGoGo.
Unfortunately, manufacturing and shipping issues were not handled for two years, and when they were finally delivered, the quality of the product was mediocre.
Backers were given the option of upgrading to the Tenikle 2, which would take another year to arrive. They’ve restored their spacecraft and are now selling it on their website and on Amazon. The most recent version of the Tenikle 360 costs $5, while the “2.0” costs $30.
What Happened to Tenikle at Shark Tank pitch?
Hans Dose presents Tenikle, a tripod for mounting phones and cameras, in Shark Tank episode 1311. He wants a Shark to give him money and help him with the manufacturing and shipping issues that arose as a result of his Kickstarter campaign.
Hans made his appearance on Shark Tank while sporting swim fins and an inflatable octopus wrapped around his waist. He was seeking $200,000 for a 10% stake in his company, which was valued at $2 million.
He displays his love for octopi and tells the story of how he came up with the idea. He goes over all of its features and shows how the suction cups may be used to assist raise a surfboard.
Mark pretends to be having a good time. He is, nonetheless, seeking for figures. Each unit costs $6.08 to produce and sells for $45. He made a total of $1.3 million by selling around 40,000 pieces.
He wrote the patent while working as a designer at Hurley (surfboards) in 2015; it was his dream job. He exhibited the prototypes to friends and family, who all came up with imaginative uses for them.
He shares information on his Kickstarter effort with the Sharks. The fourth version is now in use. He had to re-create the apparatus till the suction improved.
To get to this point, he has built up $270,000 in debt. In 2020, he made $478,000 in sales. Because he ran out of marketing cash, he only generated $9000 in sales in a month.
He has inventory worth $111,000 at cost. He and his wife moved into an RV to save money. In the worst-case scenario, Mark claims to sell in flea markets. Hans discloses that his bank account only has $39 in it.
Kevin was unwilling to criticize the product or Hans, but he wishes him luck and exits. Lori thinks it’s a good product, but it’s in a crowded market, so she’s out.
Robert promises to repay the $270,000 debt and then give him an extra $100,000 in return for 60% shares in the firm, and he wants Hans to bring in other partners in exchange for the ownership.
Daymond understands Hans’ predicament and tells a story about how he raised finances when he initially started out.
Daymond believes in Hans and makes an offer of $200,000 for 33.3% equity shares; Daymond subsequently cuts his offer to $200,000 for 30% equity shares.
Mark believes that is a better offer than he would make, therefore he will reject. He goes out,” Hans says as he turns to face Robert. The Sharks erupted in laughter.
Hans responds with $200,000 for 25% stock shares, and Daymond declines. Hans then reaches a deal with Daymond for $200,000 in exchange for 30% stock, and the pitch concludes with a deal.
What Happened to Tenikle After Shark Tank?
The deal with Daymond is currently under due diligence after the broadcast aired and Hans departed the pitch with a deal. Hans sold over $250,000 and was completely sold out on Amazon in the days following the show.
On the night of the event, Daymond tweeted, “There’s always hope, no matter what sort of position you’re in.” I trust in Hans and his product and am excited to collaborate with my new partner!!”
The company is still in business with $1.3 million in lifetime sales as of January 2022.
Competitors of Tenikle
Tenikle competes directly with other top manufacturers of cell phone accessories such as Casetify, ZAGG, and Anker.
Net Worth of Tenikle
The firm was valued at $2 million during the pitch; however, following Daymond John’s investment, the company was valued at $666,667, and the company is still running with $1.3 million in lifetime sales as of January 2022. Since then the company net worth might have been higher than that of pitch.
Tenikle FAQs
What is Tenikle?
Tenikle is the world’s first and only completely customizable phone holder. Tenikle can hold in practically any position and firmly connect to any surface thanks to its patent-pending design and combination of three silicone tentacles. Tenikle allows you to finally say goodbye to the frustration of not being able to shoot the ideal selfie or having to prop your phone up so it doesn’t fall over.
Who is the inventor?
Tenikle was invented by Hans Dose. Hans used to be the creative director of Hurley, the world’s leading action sports gear brand. He was also working on his first innovation, an adjustable belt buckle, which he marketed on his own.
How much did Hans ask for on Shark Tank?
Hans was looking for $200,000 in exchange for a 10% stake in his firm.
Did he have the deal?
Yes, Daymond John offered Hans $200,000 in exchange for a 30% share in the firm.
Is Tenikle still in operation?
Yes, the firm is still in operation as of January 2022, with a lifetime value of $1.3 million.
Where is Tenikle located?
The firm is based in San Mateo, California.
What exactly is the Tenikle website?
Tenikle’s website address is https://tenikle.com.
Tenikle is how much does it cost?
Tenikle 360 costs $5, while Tenikle 2.0 costs $30.
Where can I purchase Tenikle?
Tenikle is available on their website as well as on Amazon.
What are Tenikle’s specifications?
Tenikle has the following features: Customizable universal docking station for all mobile phones, tablets, and cameras – adapts to every smartphone and phone case/sleeve on the market.
Is Tenikle the owner of a patent?
Yes, the corporation has a patent with the number US9182077 and two claims.
Is Tenikle a success?
Yes, the firm is profitable, having made $1.3 million in sales in its first seven years of existence.
What is Tenikle made?
Tenikle is completely waterproof thanks to the use of three silicone tentacles and 3M adhesive.
What distinguishes Tenikle from other products?
The product’s key selling point is its universal docking station, which is compatible with every smartphone and phone case/sleeve on the market. Three silicone tentacles are also included for simple placement.
Is Tenikle available in a variety of colors?
Yes, the product is available in a variety of hues, including green, blue, black, and teal.
Who is the company’s CEO?
Tenikle’s CEO is Hans Dose.
