KissTixx is an innovative lip balm product featured in Season 3 of Shark Tank, which is a product that takes the concept of lip balm to a new level by offering two complementary flavors or scents that create a new taste sensation when mixed.
KissTixx lip balm comes in two separate sticks in flavors: Peaches and Cream, Fire and Ice, and Sweet and Sour. The idea is for one person to apply one flavor and their partner to apply the other, and when they kiss, the flavors combine to create a new taste.
KissTixx has several key features that make it stand out. It’s interactive and fun, adding a playful element to a mundane product. It creates a unique experience for couples, making every kiss more exciting and flavorful.
Furthermore, KissTixx lip balms are high-quality products that offer all the usual benefits of lip balms, such as moisturizing and protection from the elements.
KissTixx is a good choice for a variety of reasons. This product offers more than just a fun concept for mixing flavors; it also has practical uses. As a lip balm, it provides the necessary moisture and protection, which is beneficial for maintaining healthy lips, especially in harsh weather conditions.
KissTixx is a great conversation starter and a unique gift idea, making it a fun and practical choice for couples. Since it appeared on Shark Tank, the product has gained recognition and has been tested in a highly competitive market, which is a testament to its quality and appeal.
|Entrepreneur||Dallas Robinson and Mike Buonomo|
|Product||Fun lip balms with fun flavors|
|Investment Asking For||$200,000 for 20% equity in KissTixx|
|Final Deal||$200,000 for 40% equity in KissTixx|
|KissTixx Episode||Season 3, Episode 7|
|KissTixx Business Status||Out Of Business|
|KissTixx Website||Visit Website|
|KissTixx Net Worth||$0|
What Is KissTixx?
KissTixx is a flavored lip balm brand designed to enhance kissing experiences. It features two complementary flavors – one for each person – that create a unique taste when lips come together. KissTixx was created to add excitement and fun to kissing by introducing different flavors.
KissTixx is a product created specifically for couples to enhance their kissing experiences. It consists of flavored lip balms, each with a different taste. When two individuals apply the lip balm, their lips will have complementary flavors.
The concept behind KissTixx is to make kissing more enjoyable by introducing a playful and unique element. The flavors are carefully selected to create interesting combinations when lips meet, adding excitement and fun to the experience.
KissTixx lip balms are made with high-quality ingredients to moisturize and nourish lips. They are available in various flavors, allowing couples to choose the ones that appeal to their personal preferences.
KissTixx aims to provide a novel and enjoyable kissing experience by introducing flavored lip balms that add a new dimension to the sensation of kissing.
Who Is The Founder Of KissTixx?
KissTixx was co-founded by Dallas Robinson and Mike Buonomo. Both entrepreneurs were students at the University of Utah when they conceived the idea of creating KissTixx.
Dallas Robinson, originally from Utah, had an entrepreneurial spirit from a young age. While pursuing a degree in Business Administration, he started several small businesses.
He also served as a missionary in Honduras for two years, which deepened his faith and enhanced his communication and interpersonal skills.
On the other hand, Mike Buonomo was pursuing a degree in Business Marketing. An innate problem-solver, Mike had always been interested in creating products that filled gaps in the market.
The idea for KissTixx came about as Dallas and Mike brainstormed business ideas for an entrepreneurship class. Dallas remembered how his girlfriend’s lip gloss tasted terrible when he kissed her in high school.
This sparked the idea of creating a lip balm that could improve the taste of a kiss. They began turning this idea into reality with Mike’s marketing skills and Dallas’s entrepreneurial spirit.
Before appearing on Shark Tank, the duo worked diligently on their product. They first developed their lip balm in their dormitory kitchen, testing various combinations of flavors.
They aimed to create a lip balm that was not only moisturizing and protective but also interactive and fun. Their goal was to add an element of surprise and pleasure to the seemingly ordinary act of kissing.
Once they had a product they were happy with, they began selling KissTixx online and in a few local retail outlets. Their product was already gaining popularity before their Shark Tank appearance, but they believed the show could propel them to even greater heights.
How Was The Shark Tank Pitch Of KissTixx?
When Dallas Robinson and Mike Buonomo took the stage on Shark Tank, they sought a $200,000 investment for 20% equity in their company, valuing KissTixx at $1 million.
They began their pitch by emphasizing their product’s innovative and fun aspect – a lip balm that creates a chemistry reaction when two people kiss. To demonstrate their product, they enlisted the help of two assistants who applied the lip balm and kissed on stage.
The Sharks were initially amused by the concept, finding it interesting and unique. Kevin O’Leary, always focusing on the numbers, was curious about their sales.
Dallas and Mike explained that within eight months of launching their product, they had made $80,000 in online sales, with a promising upward trend.
The Sharks also questioned the patentability of their product, and Dallas and Mike assured them that they had a provisional patent filed.
Daymond John raised concerns about the competition, suggesting that larger companies could easily replicate their idea.
However, Dallas and Mike stood their ground, explaining that their USP was the unique chemistry reaction that set them apart from the competition.
Regarding the deals offered, Mark Cuban decided to pass on the opportunity, as he didn’t see the potential for scalability.
Daymond John, Barbara Corcoran, and Kevin O’Leary also decided not to invest, citing reasons such as uncertainty about the market and concerns about patentability.
However, Robert Herjavec saw potential in the concept. He liked the novelty of the product and the fact that it had a fun and interactive element. He made an offer of $200,000 for 40% equity, double the equity that Dallas and Mike initially offered.
After some consideration, Dallas and Mike agreed to Robert’s terms, accepting his offer and securing the investment they needed to take their business to the next level.
It was a significant moment for the young entrepreneurs, marking the beginning of a new chapter in the story of KissTixx.
What Happened To KissTixx After Shark Tank?
After the Shark Tank episode aired, KissTixx experienced a significant surge in sales and recognition, as typically happens with many businesses that appear on the show.
The exposure on national television helped bring their product to a much larger audience, and the investment from Robert Herjavec allowed them to expand their business in several ways.
With the new capital, they could ramp up production to meet the increased demand, improve their marketing efforts, and expand their product line with new flavors.
They also leveraged their unique selling proposition to differentiate their product from the competition in a crowded market. They could get their product into more retail outlets, substantially increasing online sales.
In terms of innovation, they continued to develop new flavor combinations and started exploring related product ideas. The founders took the opportunity to further establish their brand as not just a lip balm producer but as a fun, interactive brand with a unique twist.
However, the company faced challenges with production and distribution, leading to delays in fulfilling orders. Despite efforts to improve operations, Kisstixx eventually went out of business. The company’s website is no longer active, and the product is no longer available.
KissTixx Shark Tank Update
After appearing on Shark Tank, KissTixx experienced significant progress and success in their business. The inventors, Dallas Robinson and Mike Bonomo showcased their unique kissing lip balm with a chemical reaction on the show, leaving a lasting impression on the viewers and the Sharks.
Mark Cuban, recognizing the product’s potential, made a deal with KissTixx, offering $200,000 for a 40% stake in the business. This partnership with a billionaire investor passionate about their business has proven to be a wise decision for Robinson and Bounomo.
Following their appearance on Shark Tank, KissTixx received a surge in orders, with over 5500 product units sold through their website. The website struggled to handle the high traffic, highlighting the impact of the Shark Tank Effect.
Capitalizing on its success at the retail level, KissTixx shifted its focus to the wholesale level and expanded brand awareness. They sent out over 4000 samples to distribution centers worldwide, resulting in new connections in 44 different countries. This expansion allowed KissTixx to grow its presence globally quickly.
Additionally, Lori Greiner, who didn’t make a deal on the show, found a way to promote the product by designing her flavor of the KissTixx brand, “Two in One Lip Balm.” This flavor offers over 100 combinations for customers to mix and match.
KissTixx has demonstrated strong growth and potential following their appearance on Shark Tank. Their unique product and partnership with Mark Cuban have paved the way for continued success in the kissing lip balm market.
Is KissTixx Still In Business?
Our research shows that Kisstixx is no longer in business. They do not have a website, and their social media accounts have been inactive for years. Kisstixx products are also no longer available on Amazon.
While the exact reasons for their closure are unclear, the company’s long-term viability may have been impacted by factors such as customer feedback and the novelty nature of their product.
What Is the Net Worth Of KissTixx?
According to our research, the net worth of KissTixx is estimated to be $0 since the company is out of business. The valuation of KissTixx was %500,000 after securing an investment from Mark Cuban on Shark Tank.
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