In today’s digital world, forgetting a password is more than annoying, it can be a security risk. Enter Splikity, a password manager that promised to simplify and secure your online life. When brothers Chad and Doug Clark pitched their software on Shark Tank Season 7, they aimed to revolutionize how people stored passwords.
Despite not landing a deal, Splikity gained national attention for its clean user interface and military-grade encryption. But over time, the buzz faded. With stiff competition and limited funding, the startup slowly disappeared from the tech space.
So what really happened to Splikity? What’s its net worth in 2025? And did the Sharks miss out, or dodge a bullet? Let’s dive in.
Founder Profile: Who’s Behind Splikity?
Splikity was founded by Doug and Chad Clark, brothers from Arizona with a passion for solving tech problems. They weren’t cybersecurity veterans, but they knew the pain of managing dozens of passwords. That’s what led them to create a user-friendly, encrypted app that could sync passwords across devices automatically.
“We just wanted to make something our mom could use. If it wasn’t simple, we knew people wouldn’t stick with it.”
Doug
Their backgrounds were in development and design, not marketing. That would later become one of their biggest challenges.
RELATED: Do Contestants Really Come to Shark Tank for Investments?
The Shark Tank Pitch: High Stakes in the Tank
The brothers appeared on Shark Tank in Season 7, Episode 5, seeking $200,000 for 10% equity, which valued Splikity at $2 million. Their pitch emphasized ease of use, security, and the growing need for password protection.
The Sharks liked the idea, but not the numbers.
Kevin O’Leary was blunt:
“You’re not worth $2 million without any revenue.”
Lori Greiner added,
“You’re going up against giants. What makes you different from LastPass or Dashlane?”
Despite their clear vision, the Clarks couldn’t convince the Sharks to bite. Every Shark dropped out. They left without a deal.
“That rejection stung, but it also made us more determined to succeed.”
Doug
Splikity Pitch on Shark Tank (Quick Info Card)
| Company name | Splikity |
| Product | Password manager app |
| Episode | Season 7 Episode 2 |
| Founder | Doug Clark and Chad Clark |
| Asked for | $200,000 for 10% Equity |
| Final deal | None |
| Shark | None |
| Location | Paradise Valley, Arizona |
What Happened After Shark Tank
Post-episode, Splikity experienced a brief surge in app downloads and user interest. The Shark Tank effect worked, momentarily. But without funding or business mentorship, sustaining momentum proved difficult.
The team continued development, but updates slowed. Customer support became inconsistent, and competitors rolled out superior features. By 2018, the app was largely inactive. By 2021, Splikity’s website was offline. And in 2023, the company officially closed.
Despite this, the Clark brothers remained involved in tech, reportedly working on new SaaS projects, though none have been launched publicly under the Splikity name.
Why Is Splikity Closed? What Went Wrong?
Splikity closed due to a combination of critical business challenges:
- Heavy market competition from major players like LastPass, Dashlane, and 1Password.
- Lack of funding after failing to secure investment on Shark Tank or from outside VCs.
- Limited product differentiation, especially in a space demanding innovation and trust.
- Weak marketing strategy, which hurt user growth and retention.
“We underestimated how hard it would be to scale in a market dominated by big players.”
Chad
Ultimately, without a solid user base or recurring revenue model, the business couldn’t stay afloat.
How Much Was Splikity Bought For?
Splikity was never acquired. The company shut down operations without a sale or merger. No public acquisition or asset buyout has ever been reported.
What Is Splikity’s New Name?
There is no rebranded version of Splikity. The business name has not changed, and its website and app are no longer available. While the founders may pursue new ventures, nothing has launched under a new Splikity-related brand.
Splikity Reviews: What Users Said
Early Splikity reviews were mixed. While users appreciated the simplicity and design, several problems surfaced:
- The app lacked key features available in competitors.
- It didn’t offer a free version, unlike LastPass and Bitwarden.
- Users reported syncing bugs and poor customer service.
- Updates were infrequent, raising concerns about ongoing support.
One frustrated user said,
“It was easy to use but didn’t do enough. I needed something more robust.”
As a result, retention dropped, and Splikity never reached critical mass.
Did the Sharks’ Investment Pay Off? Inside Splikity’s Post-Tank Boom
No Shark invested in Splikity, so there were no direct gains or losses. That said, the show did bring temporary visibility. Downloads increased following the episode, but the business didn’t capitalize on the momentum.
“The show gave us exposure. But we needed more than just eyeballs, we needed mentorship and capital.”
Doug
Without external funding or strategic direction, Splikity couldn’t keep up with its competitors.
RELATED: TOP 05 BIGGEST “SHARK TANK” DEALS EVER
How Much Did the Shark Make from Splikity?
Since none of the Sharks invested, they earned nothing from Splikity. Given the company’s shutdown, any investment would likely have resulted in a total loss.
Had a Shark taken the original deal, $200,000 for 10%, they would have ended up with a non-liquidated stake in a defunct company.
Investor’s Other Businesses: What the Sharks Chose Instead
While Splikity didn’t attract a deal, the Sharks made plenty of strong bets in other episodes of Season 7:
- Lori Greiner invested in Scrub Daddy, which grew to over $300 million in value.
- Mark Cuban found long-term success with Rugged Maniac and Ten Thirty One Productions.
- Robert Herjavec, a cybersecurity expert himself, passed on Splikity and invested in other enterprise software plays.
In retrospect, passing on Splikity allowed the Sharks to focus on higher-return ventures with stronger fundamentals.
Don’t miss these product from Season 07
TL;DR
Splikity’s net worth is $0 in 2025 after the company shut down post-Shark Tank. Despite a promising pitch, it failed to compete with larger password manager apps and never secured funding from the Sharks.
