Kevin Choi was sick of the mess he made by munching while working or gaming, so he built a snacking tool to keep his hands and devices clean. The founders of Snactiv, joined by their co-founder Edwin Cho, delivered a lively pitch to attract investment from the Sharks.
Have they closed the deal? So, where did things go from Shark Tank? And do people require Snactiv? Find more details about the company and its deal at Shark Tank.
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Snactiv Net Worth
Snactiv sought $2 million in funding from the “sharks” on Shark Tank. Snactiv finally settled on Worth $1 million after much negotiation. The company anticipates earning roughly $1 million in 2023. As of 2023, Shark Tank Talks comments that the corporation currently has an estimated $2 million in net worth.
What is Snactiv?
Snactiv is a snacking accessory that serves double duty by protecting your electronics from crumbs and your hands from germs while you multitask. The headquarters of the firm is located in the Los Angeles area.
Who created Snactiv initially?
Snactiv is an Inoobi, Inc. manufacturing division. The year 2021 saw the debut of Inoobi, Inc. Kevin Choi and Edwin Cho created the Snactiv device. Dr Kevin Choi Kevin is the president and founder of Inoobi, Inc., a manufacturing company and a product design expert. Kevin’s product design experience spans various industries and clients, from Magic Jump and Mattel to smaller startups.
Kevin started WKC Designs Company in December 2022 and is currently its sole employee and the founder of Inoobi. Cho, Edwin Edwin co-founded Inoobi, Inc. manufacturing firm Before joining Fuhu. He held marketing positions at Mattel and ZipRecruiter.
How does Snactiv work?
The ergonomic shape of Snactiv resembles a cross between chopsticks and tweezers, making it a pleasure to use. The prongs of the snacking tool are like an extra set of clean fingers that you can wear on your index and middle finger. The primary purpose of the device is to allow you to load up on snacks without dirtying up your controllers or keyboard with crumbs, oil, grease, sauce, or other sticky remnants.
The trendy snacking instrument is manufactured from BPA-free, food-safe material that can be cleaned in the dishwasher.
Snactiv On the Shark Tank
Season 13 of Shark Tank featured an appearance by Edwin and Kevin. They competed, hoping to win investment money from the judges. They bid $200,000 for 10% stock, which seemed fair.
The Sharks initially considered the product to be a brilliant gimmick. The terms of the sale, however, caught them by surprise. Kevin O’Leary and Lori Greiner finally settled the dispute by offering $200,000 for 20% ownership. The offer did not impress the founders, but they took it nevertheless.
Snactiv After the Shark Tank
The episode of Shark Tank featuring Snactiv caused the product to skyrocket in popularity, leading to knockoffs from other companies. Regardless, demand for their product has skyrocketed among gamers and the computer industry’s workforce, and the company continues to expand. You may purchase Snactiv right now from their website or on Amazon.
Major retailers like Walmart and Target also carry the product. Outside of America, they market their wares in the affluent regions of South Korea, Hong Kong, and Taiwan. The corporation currently has an estimated $2 million in net worth.
Is Snactiv still working?
To put it briefly, yeah. And they achieve their goals. Over a hundred retailers, including Walmart and Amazon, now stock their goods.