Quick Net Worth Update on Mighty Carver
- Shark Tank Deal: The founders secured a $100,000 investment from Daymond John in exchange for 25% equity, setting the initial valuation at $400,000 during their Shark Tank pitch.
- Sales Growth: Post-Shark Tank, the company has experienced strong growth, reporting over $8 million in sales by 2021.
- Media Coverage: Featured by outlets like The Wall Street Journal, the Mighty Carver has gained notable attention, boosting visibility and sales.
The Mighty Carver, an electric knife, was started by Lance and Kim Burney in 2016.
The product, designed to resemble a chainsaw, has captivated audiences with its novelty factor, making it a popular choice for holiday gatherings and a fun addition to the kitchen.
As of 2024 November, the company is still in business. You can purchase products through e-commerce channels such as their website and Amazon.
The Mighty Carver Net Worth Timeline
| Net Worth 2024 | $9 million |
| Net Worth 2022 | $8 million |
| Net worth valuation 2021 after appearing on Shark Tank | $400K |
| Net worth valuation 2021 before appearing on Shark Tank | $500K |
The product has seen a significant sales boost during holiday seasons, thanks to its unique appeal as a holiday gag gift. Retailers like Sharper Image and QVC have noted increased demand, especially during Thanksgiving and Christmas.
The Mighty Carver Pitch on Shark Tank
| Company name | The Mighty Carver |
| Product | It’s a food carving knife that runs on electricity and makes a noise similar to a chainsaw |
| Episode | Season 12 Episode 04 |
| Founders | Lance Burney and Kim Burney |
| Asked for | $100,000 for 20% Equity |
| Final deal | $100,000 for 25% Equity |
| Shark | Daymond John |
| Location | Sanford, Florida, United States |
Users feedback on the product has been mixed, with many finding it entertaining but unnecessary, noting it as “pointless yet useful.” However, the Mighty Carver’s fun factor has set it apart, drawing both interest and amusement, especially for holiday events.
Don’t miss these products from Season 12
The Mighty Carver Founders
The Mighty Carver was founded by Lance Burney and Kim Burney in 2016. Kim is the CEO and creator of this company called LLC DBA Mighty Carver. Lance, the co-owner of LanKim LLC, is a successful entrepreneur who has been managing various businesses for 30 years. Currently, he serves as the President of Sigalrm, a company that has been operating since 1999, specializing in Proximity Alarm products. He finished his studies at the University of Central Florida. The Mighty Carver’s founders, Lance Burney and Kim Burney, have a net worth of 1.75 million USD as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2021 | The company appeared on Shark Tank Season 12 and got the deal from Daymond John. |
| 2019 | They managed to sell 5000 units in 2019. |
Post-Shark Tank Success and Marketing Efforts
After the Shark Tank appearance, the Mighty Carver gained significant media attention and social media buzz, which helped boost sales. The Wall Street Journal featured an article on the product, which led to a spike in orders, underscoring its appeal as a unique item for family gatherings.
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. The Mighty Carver’s journey has showcased the potential of combining novelty with functionality, making it both a holiday favorite and a fun addition to kitchens. We can’t wait to see the future for The Mighty Carver and its continued success.