“Snactiv Finger” got featured on Shark Tank USA in 2021 November. It was founded by Kevin Choi and Edwin Cho.
Snactiv Net Worth in 2022
Here is an update on Snactiv Finger’s net worth so far.
|Snactiv Finger’s Net worth before appearing on Shark Tank||2 Million USD (business valuation)|
|Snactiv Finger’s Current Net worth (2022)||500,00 USD|
Snactiv Finger’s founders Kevin Choi and Edwin Cho have a net worth of 400,000 USD as of 2022.
All of us like to have a snack even though our daily schedule is busy. But we can’t ignore the devices like mobile phones and computers we are using. Hence, getting grease, salt, or crisp dust on the device is unavoidable. So how to munch snacks without getting your fingers dirty is a common issue. Then Snactiv is the handy answer that will provide a clean and mess-free multitasking experience.
|Episode||Season 9 Episode 3|
|Product||Wireless record player|
|Asked for||$300,000 for 15% equity|
|Final deal||$500,000 for 100% equity|
|Business status||In Business|
What is Snactiv?
Snactiv is a tweezer and chopstick hybrid multitasking snaking tool. It helps the users to reach their snacks without touching them. So it helps to have snacks while working or gaming without making hands and the devices dirty.
Who is the owner of the Snactiv?
Kevin Choi and Evan Cho are the co-founders and owners of Inoobi incorporated company owning Snactiv. Kevin is a Fine Arts graduate from Otis College of Art and Design and Edwin holds a BSc from NYU Stern School of Business. He worked with companies like Disney Mattel and Magic Jump Inc while Evan worked in Mattel, Fuhu, and ZipRecruiter before.
What happened at the Shark Tank?
Kevin and Edwin appeared on the Shark Tank hoping for $ 200000 for 10% of their company. However, the Sharks were not that impressed at first but were amazed after hearing about their revenue.
So, Kevin O’Leary decided to make a move first with a $200,000 offer for 10% equity. But he asked for $ 1 per unit royalty until 1 million dollar sales. Followingly guest Shark Kevin Heart and Lori Greiner offer $200,000 together for 20% of shares of the company. Also, they did not forget to highlight Loris QVC’s relationship and Kevin’s Marketing skills.
So, Mark Cuban asked Kevin and Edwin to go for the pair offer. But they tried to reduce the equity to 15%.
However, then Mr. Wonderful Kevin O’Leary changed his offer into 5% and 50 cents equity. But finally, the Snactiv team decided to go with Kevin Heart and Lori Greiner’s offer.
Snactiv SHARK TANK UPDATE
Snactiv joined Shark Tank season 13 and was able to fix a deal with Lori Greiner and guest Shark Kevin Hart. They received $200,000 for a 20 % of stake in the company.
However, the snactiv holds a utility patent and has done a $187000 sale even before appearing on the show. This is only from a $16 small product.
So with the popularity gained recently, the company starts selling in Singapore and Canada. Also, gaming influencers like SNACCDaddyTeej, Jessimama, and Darkraizard had started partnerships with Snactiv.
Also read: What happened to the simplest product “Bosscoop” after shark tank
What happened to Snactiv After the Shark Tank?
As usual, the company’s orders increased after the Shark Tank Show. The company is still in business and customers can find updates on the official Facebook, Instagram, and Twitter accounts.
Not only that Snactiv can start work with third parties out of the US.So, The ‘ohUsBox’s in South Korea and NNNN in Taiwan are cooperating with Snactiv. Apart from that HOMELESS from Hong Kong also joined the journey. Also according to the reports the company is planning to expand to Japan.
Competitors of Snactiv?
There aren’t any similar products appeared on the market yet. So chopsticks can take as their primary competitor.