What is Snactiv’s Net Worth: Snactiv debuted during Season 13 of the renowned reality television programme Shark Tank. It is a unique pair of chopsticks designed to be worn on the finger, allowing users to eat without having their hands dirty.
Snactiv is particularly useful for individuals who are working on laptops or mobile devices but who are craving a salty refreshment. Snactiv is a pair of chopsticks produced by Inoobi, Inc, a California-based company founded by Kevin Choi and Edwin Cho in 2021.
Snactiv is designed to be convenient and hygienic; when worn on a finger, its intelligent design prevents it from touching surfaces. The rubber-based Snactiv is pleasant to wear and will not irritate the finger. Additionally, it is devoid of BPA and phthalates, guaranteeing the safety of its consumers.
Despite its simplicity, Snactiv is highly effective for munching on crackers and popcorn. Due to the limitations of the design, it is not recommended to ingest foods such as rice. The Snactiv is presently available in both light and dark colours for $14.99 on Amazon and the company’s website.
Kevin Choi and Edwin Cho, the inventors, pitched their idea on Shark Tank and asked for $200,000 in exchange for a 10% stake in a $2 million company. The agreement was achieved with Sharks Kevin Hart and Lori Greiner, who contributed $200,000 in exchange for a 20% stake.
Since its debut on Shark Tank, the product’s popularity has increased, particularly in Asian countries, and the company is now focused on international expansion. Prior to Shark Tank, the product was already profitable, and it is anticipated to generate $1 million in annual revenue by 2022.
Snactiv is a useful, inventive device that is great for multitaskers who wish to consume snacks without getting their hands filthy or disturbing their job. The remarkable credentials of its creators, its success on Shark Tank, and its continued global expansion demonstrate Snactiv’s potential as a contemporary convenience device.
What is the Net Worth of Snactiv?
Currently, Snactiv’s estimated net worth is $2 million. Based on the present revenue and valuation of the company following its appearance on Shark Tank. Upon its appearance on Shark Tank, Snactiv was valued at $1 million.
What exactly is Snactiv?
Despite our hectic schedules, we all appreciate a refreshment. However, we cannot ignore the technology we employ, such as cell phones and computers. Consequently, smears of oil, salt, or crisp dust are inevitable on the device.
Thus, how to consume snacks without having your hands dirty is a common issue. Then Snactiv is the optimal solution for a mess-free and clean multitasking experience.
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It permits consumers to gain access to their refreshments without touching them. So having refreshments while working or gaming without getting your hands or devices soiled is beneficial.
Who is the Snactiv Owner?
Kevin Choi and Evan Cho founded and own Inoobi, which is the owner of Snactiv. Kevin has a Bachelor of Fine Arts from Otis College of Art and Design, while Edwin has a Bachelor of Science from the NYU Stern School of Business. He formerly worked for Disney Mattel and Magic Jump Inc., while Evan previously held positions at Mattel, Fuhu, and ZipRecruiter.
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What Occurred Within the Shark Tank?
Kevin and Edwin appeared on Shark Tank hoping to receive $200,000 in exchange for 10% of their business. The Sharks, on the other hand, were initially unimpressed, but when they learned their revenue, they were taken away.
Therefore, Kevin O’Leary decided to make the first move with an offer of $200,000 for 10% stock. However, he requested a royalty of one dollar per unit sold until a million units were sold. Then, guest Sharks Kevin Heart and Lori Greiner offered $200,000 for twenty percent of the company’s shares. In addition, they emphasised Loris’s QVC connection and Kevin’s marketing skills.
As a consequence, Mark Cuban asked Kevin and Edwin to accept the duo offer. They endeavoured to reduce the equity to 15%, however. Later, Kevin O’Leary revised his offer to 5% equity for 50 cents. However, the Snactiv team ultimately selected the proposal from Kevin Heart and Lori Greiner.
Snactiv Shark Tank Update – What Happened After the Shark Tank?
Kevin Choi and Evan Cho were able to negotiate a deal with Lori Greiner and guest Shark Kevin Hart. They were given $200,000 for a 20% stake in the business. As expected, the company’s orders increased after the Shark Tank Show. The Snactiv has a utility patent and has already sold $187000 prior to its appearance on the programme. This is only from a small $16 item.
As a consequence of its recent popularity, the brand has begun selling in Singapore and Canada. Snactiv has also forged partnerships with gaming influencers including SNACCDaddyTeej, Jessimama, and Darkraizard. Customers can obtain information from the still-active official Facebook, Instagram, and Twitter pages.
In addition, Snactiv can now collaborate with third parties outside the United States. Consequently, ‘ohUsBox’s in South Korea and NNNN’s in Taiwan are collaborating with Snactiv. Additionally, Hong Kong’s HOMELESS accompanied the expedition.
