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Cabinet Health Net Worth 2023 Update (Before & After Shark Tank)

Cabinet-Health

Cabinet Health, a healthcare company, was started by Achal Patel and Russ Gong in 2018. As of October 2023, Cabinet Health’s net worth is 23.6 million and they’re pulling in a whopping $12.9 million in annual revenue. 

In January 2023, they appeared on Season 14 of Shark Tank USA and made a deal with Tony Xu and Kevin O’Leary, $500,000 for 7% equity + 2% Royalty. The final valuation was $7.1 million, down from the founder’s initial estimate of $20 million

As of 2023 November, the company is still in business. You can purchase products on e-commerce channels such as their website and Amazon.

Cabinet Health Net Worth

Net worth$23.6 million (2023)
Annual Sales Revenue$12.9 million
Profits
Lifetime sales
InvestorsTony Xu and Kevin O’Leary
FoundersAchal Patel and Russ Gong
Employees1-25 employees

Cabinet Health Net Worth Timeline

Net Worth 2023$23.6 million
Net Worth 2022$17 million
Net worth valuation 2023 after appearing on Shark Tank  $7.1 million
Net worth valuation 2023  before appearing on Shark Tank  $20 million

Cabinet Health Pitch on Shark Tank

Company nameCabinet Health
ProductSustainable healthcare plastic free packaging
EpisodeSeason 14 Episode 11
Founders Achal Patel and Russ Gong
Asked for$500,000 for 2.5% equity
Final deal$500,000 for 7% equity + 2% Royalty
SharksTony Xu and Kevin O’Leary
LocationNew York City, USA

Don’t miss these product from Season 14

Cabinet Health Founders

Cabinet Health was founded by Achal Patel and Russ Gong in 2018. Russell Gong, the co-founder and president of Cabinet Health Company, has a wealth of experience in various roles. He’s also been an Infantry Officer in the US Army for 8 years. Mr. Patel, who studied at the University of Virginia and held multiple positions at Deloitte, is another co-founder of Cabinet Health and serves as the CEO. Cabinet Health’s founders, Achal Patel and Russ Gong, have a net worth of 5 million USD as of 2023.

Key accomplishments

YearAccomplishment
2023The company appeared on Shark Tank Season 14 and got the deal from Tony Xu and Kevin O’Leary
2022In December 2022, they secured $17 million in both debt and equity funding. This financial boost was intended to support their growth into the prescription and retail sectors. The announcement came shortly before their initial air date and increased their total venture funding to $23.6 million

Conclusion

From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Cabinet Health and its continued success.

What do you think?

Written by GAG Team

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