What Happened to XTorch After the Shark Tank Pitch?
What is XTorch?
The XTorch is a three-in-one device that functions as a lantern, flashlight, and phone charger. The device was created particularly for people who have to deal with erratic electricity (like those in developing countries).
The product is also beneficial to individuals who like camping and other outdoor activities. The XTorch can be charged using a normal USB connection and takes around an hour to fully charge.
It may also be charged by the sun, which takes around 22 hours. On a full charge, the XTorch can provide light for 48 hours.
The XTorch has an extraordinarily long lifetime of 7-10 years. The XTorch, according to Gene, floats in water and can be thrown on the ground 20 times and still work.
Who is the founder of XTorch?
XTorch was established by Gene and Keidy Palusky, a husband and wife duo. Before starting the company, Gene worked as a real estate specialist. He would buy homes, renovate them, and then resell them for a profit.
Later in life, he became involved in missionary and philanthropic work in impoverished countries. He met his wife Keidy on one of these excursions to Colombia. The Paluskys are now in command of XTorch.
The idea for The X Torch came to the Paluskys when they saw the weak energy infrastructure in underdeveloped countries.
When there was no power, children couldn’t read and had to rely on dangerous kerosene lamps to complete their homework.
They were also unable to charge their cellphones, which are a vital means of communication in developing nations.
They overcame these obstacles by developing XTorch.
They have distributed more X Torches to developing-country homes than they have sold. Gene claims that they will be profitable by 2020 since they will not have to spend money on tooling or R&D.
They intend to grow into physical retail and sell more online in order to generate a profit and, as a result, supply more lighting to developing countries.
Their goal is to provide 25% of their profits to disadvantaged countries in the form of X Torches.
What Happened to XTorch at the Shark Tank Pitch?
Keidy and Gene appeared on Shark Tank season 12 episode 22 in quest of $150,000 in exchange for a 10% ownership in their company. This translates with a $1.5 million valuation.
They introduce their product and make their pitch. Gene successfully cracks a block of ice containing a frozen XTorch.
Gene must show Lori and the other Sharks how it works. Charging by solar takes 22 hours and charging by electricity takes 1 hour.
It costs $18.50 to make them and $55.95 to sell them. In the following production cycle, the manufacturing cost will be lowered to $14.
They describe their background for roughly a minute. They’re trying to explain how their flashlight is different from others, but the Sharks keep saying, “it’s a flashlight.”
When they tell the Sharks that they supply lighting to non-profits, Kevin wonders if they are a business or a charity.
So far in 2021, they have sold $53,000 more than they did the prior year (2019). They don’t have any patents. Kevin says they should sell direct to consumers for $29.95, thus he is gone.
Mark believes it’s a fantastic product, but they haven’t sold enough of it to keep him on board, so he’s gone. Daniel isn’t pleased with the price, so he’s leaving.
Robert pretends to like the product but wants to buy the entire company. He makes an offer of $400,000.00. Gene answers with a million dollars.
Lori claims that there is a lot of competition. She walks away. When Robert reaches $500,000, Gene reaches $750,000, and Robert is forced to depart. The pair exits the Tank with no offer.
What Happened to XTorch After the Shark Tank Pitch?
During the weekend after its maiden appearance, the company sold out of all 1400 units in stock. They only sell through pre-orders on their website.
What is the Net Worth of XTorch?
Keidy and Gene appeared on Shark Tank season 12 episode 22 in quest of $150,000 in exchange for a 10% ownership in their company. This translates with a $1.5 million valuation.
Who are the Competitors of XTorch?
There is no known competitor for XTorch.
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XTorch FAQS
What is XTorch?
XTorch is a three-in-one device that functions as a lantern, flashlight, and phone charger. The device was created particularly for people who have to deal with erratic electricity (like those in developing countries).
The product is also beneficial to individuals who like camping and other outdoor activities.
How long does it take to fully charge?
The XTorch can be charged using a normal USB connection and takes around an hour to fully charge. It may also be charged by the sun, which takes around 22 hours.
How long does it last?
On a full charge, the XTorch can provide light for 48 hours.
What is the price of an XTorch?
It costs $18.50 to make them and $55.95 to sell them
Where can they buy an XTorch?
The XTorch isn’t available yet, but they are taking pre-orders on their website.
What does it do?
The flashlight also functions as a lantern and a power source for electronic devices. It has an extraordinarily long lifetime of 7-10 years.
The XTorch, according to Gene, floats in water and can be thrown on the ground 20 times and still work.
Who founded XTorch?
XTorch was established by Gene and Keidy Palusky, a husband and wife duo. Before starting the company, Gene worked as a real estate specialist. He would buy homes, renovate them, and then resell them for a profit.
How much were they seeking in the Tank for their Company?
They appeared in the Tank and were seeking $150,000.00 in exchange for a 10% ownership in their company. This translates with a $1.5 million valuation.
How much did they received from the Sharks?
They left the Tank without any investment from the Sharks?
Is XTorch still in business?
Yes, they’re selling pre-orders on their website.
What happened to XTorch after the Shark Tank?
During the weekend after its maiden appearance, the company sold out of all 1400 units in stock. They only sell through pre-orders on their website.
