Loctote Industrial Bag Co, a Theft-proof and slash-proof bag, was started by Adam McBride and Don Halpern in 2015. As of November 2023, Loctote Industrial Bag Co.’s net worth of 2023 is unavailable. However, as per the company valuation on shark tank pitch, It is $3 Million and they’re pulling in a whopping $1 Million in annual revenue.
On April 21, 2017, they appeared on season 8 of Shark Tank USA and made a deal with Robert Herjavec, for $150,000 for 10% equity. The final valuation was $1.5 Million, down from the founder’s initial estimate of $3 Million.
LOCTOTE anti-theft bags allow you to never compromise on safety and the company is still in business. Their products are available to purchase on the official website.
Loctote Industrial Bag Co Net Worth
| Net worth | $3 Million (Company Valuation) |
| Annual Sales Revenue | $1 Million (2022) |
| Profits | – |
| Lifetime sales | – |
| Investor | Robert Herjavec |
| Founders | Adam McBride and Don Halpern |
| Employees | 10 to 40 |
Loctote Industrial Bag Co Net Worth Timeline
| Net Worth 2023 | Unavailable |
| Net Worth 2022 | $3 Million |
| Net Worth 2021 | $2 Million |
| Net Worth 2020 | $1.5 Million |
| Net worth valuation in 2017 after appearing on Shark Tank | $1.5 Million |
| Net worth valuation in 2017 before appearing on Shark Tank | $3 Million |
Loctote Industrial Bag Co Pitch on Shark Tank
| Product | Theft-proof and slash-proof bag |
| Episode | Season 08 Episode 22 |
| Founders | Adam McBride and Don Halpern |
| Asked for | $150,000 for 5% equity |
| Company name | Loctote Industrial Bag Co |
| Final deal | $150,000 for 10% equity + $10/bag |
| Shark | Robert Herjavec |
| Location | East Main Street, New Albany, Ohio |
Don’t miss these products from Season 8
Loctote Industrial Bag Co. Founders
Loctote Industrial Bag Co. was founded by Adam McBride and Don Halpern in 2015. They faced several challenges when they brought the product into the market. They have overcome every problem that they have faced. Loctote Industrial Bag Co’s founders, Adam McBride, and Don Halpern net worth is unknown as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2017 | Loctote Industrial Bag Co becoming the highest-grossing backpack ever in the history of Kickstarter in 2017. |
| 2017 | Loctote Industrial Bag Co. appeared on Shark Tank. |
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 of Sand Cloud and its continued success.