Snactiv Shark Tank Update | Snactiv Net Worth

Snactiv is a patented, ergonomic snacking tool developed by entrepreneurs Kevin Choi and Edwin Cho, which appeared on episode 10 of Shark Tank’s 13th season.

The innovative device, resembling a pair of tweezers, is designed to prevent messy fingers while snacking, particularly when using a computer or mobile device.

Snactiv conveniently fits on the pointer and middle fingers, allowing users to snack without getting their hands dirty.

The tool enables users to dig into bags or bowls of snacks without making a mess and keeping keyboards, clothing, and other surfaces clean.

Snactiv’s practicality and ease of use make it a great choice for individuals who snack while working or gaming, offering a simple and effective solution to a common problem.

What Is Snactiv?

Snactiv is a patented, ergonomic snacking tool designed to keep your hands clean while snacking. It is a device that aims to prevent greasy fingers, phones, and keyboards by providing an alternative way to enjoy snacks without the mess.

The product is described as unnecessary yet surprisingly essential, offering a practical solution for snacking while working, gaming, reading, or engaging in various activities.

Snactiv comes in different bundle packs and versions, such as Snactiv Lite and Snactiv Pro, each with its features and benefits.

Additionally, the product has received positive reviews from customers, highlighting its comfort, convenience, and quality compared to imitation versions in the market.

The founders of Snactiv created the product based on their experience in launching products for well-known brands and aimed to make snacking cleaner and more enjoyable for people worldwide.

Who Is The Founder Of Snactiv?

Kevin Choi and Edwin Cho are the founders of Snactiv, which was created under their company, Inoobi.

They both have a background in design, engineering, and entrepreneurship, having previously worked for companies like Mattel, Disney, Hasbro, and more.

With experience in developing various products, they came up with the idea for Snactiv as a solution to keep hands clean while snacking.

Kevin Choi and Edwin Cho conceived the idea for Snactiv as a multi-tasking snacking tool to allow people to snack without getting their hands dirty.

The concept of finger chopsticks worn as a ring on the index and middle finger was born out of their desire to create a convenient snacking experience without interruptions.

Before appearing on Shark Tank, Snactiv launched a successful Kickstarter campaign in April 2021, raising over $41,700. The product garnered positive reviews from customers for its functionality and quality.

With a team based in Los Angeles and Hong Kong, Snactiv quickly gained popularity for its innovative approach to snacking.

How Was The Shark Tank Pitch Of Snactiv?

Kevin Choi and Edwin Cho presented Snactiv, a mess-free snacking tool on Shark Tank Season 13. The entrepreneurs sought $200,000 for 10% equity in their business.

The product, a chopstick-like utensil that aids in picking up messy snacks cleanly, caught the sharks’ attention with a humorous powdered cheese-dusted demonstration.

Despite initial skepticism, the sharks were impressed by Snactiv’s sales of $187,000, $50,000 in international purchase orders, and a utility patent.

Kevin O’Leary offered $200,000 for 5% equity and a $1 per unit royalty until $1 million is earned.

However, Kevin Hart and Lori Greiner made a more attractive offer of $200,000 for 20% equity, leveraging their marketing and QVC connections.

After some negotiation attempts, Kevin and Lori’s deal of $200,000 for 20% equity was accepted by the founders, choosing the expertise of two sharks over Kevin O’Leary’s offer.

Snactiv Shark Tank Investment Deal:

• Lori Greiner: Recognized the potential of Snactiv and saw an opportunity to leverage her QVC connections for successful sales.
• Kevin Hart: He was enthusiastic about the product’s simplicity and its market appeal, especially with his personality marketing.
• Kevin O’Leary: Offered a deal with a $1 per unit royalty until $1 million earned, showing interest in the product’s revenue potential.
• Mark Cuban: Did not make an offer, indicating a lack of interest in investing in Snactiv.
• Barbara Corcoran: Also did not make an offer, suggesting that she did not see the value in Snactiv for her investment portfolio.

Did Snactiv Get a Deal on Shark Tank?

Yes, Snactiv did secure a deal on Shark Tank. The founders, Kevin Choi and Edwin Cho, pitched their innovative Snactiv Snacking Tool in Season 13, Episode 10.

They asked for $200,000 for a 10% equity stake but ended up accepting an offer of $200,000 for a 15% stake from Sharks Kevin Hart and Lori Greiner.

This strategic partnership greatly boosted Snactiv’s visibility and sales, leading to its continued success post-Shark Tank. The Snactiv Snacking Tool is still in business in 2024 and has an estimated net worth of around $2 million.

Customers can purchase the Snactiv tool online and offline, with international collaborations expanding its global reach. Snactiv’s success story showcases the impact of a successful Shark Tank deal on a business.

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What Happened To Snactiv After Shark Tank?

Snactiv, the innovative snacking tool that made waves on the Shark Tank stage, has continued to thrive after its appearance on the popular TV show.

Despite the handshake deal with Kevin Hart and Lori Greiner not materializing, Snactiv experienced a surge in demand following the episode’s airing in January 2022.

The product completely sold out, prompting the creators, Kevin Choi and Edwin Cho, to restock inventory and expand their business.

Snactiv is still very much in business, maintaining an active presence on social media and its website.

The company has diversified its product line to include various iterations of the original Snactiv device, now available in multiple colors and offered in multiple packs at reduced prices.

Additionally, Snactiv has expanded its offerings to include t-shirts with quirky designs related to snacking, further engaging its customer base.

In January 2023, Snactiv teased a new version of its original tool, known as Snactiv Lite, featuring a slimmer design with enhanced usability. This new product is now available for purchase on the company’s website, offered in bundles of four.

Furthermore, Snactiv has made its products accessible globally through its website and Amazon, catering to a broader audience and increasing its market reach.

Kevin Choi and Edwin Cho, the masterminds behind Snactiv, have a proven track record of innovation and success in product development.

With their extensive experience in launching products for renowned brands like Marvel and Disney, the duo is poised for continued growth and expansion in the snacking industry.

Snactiv’s commitment to engaging its audience through interactive campaigns, such as the online Easter Egg Hunt, demonstrates its dedication to customer satisfaction and brand loyalty.

Snactiv has not only sustained its business post-Shark Tank but has also flourished, introducing new products and expanding its market presence.

The company’s unique approach to snacking solutions, coupled with its humorous branding and engaging marketing strategies, positions it for continued success in the future.

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Snactiv Shark Tank Update

Snactiv, the snacking accessory, made quite a splash after its appearance on Shark Tank.

Seeking an investment of $200,000 for 10% of their business, founders Kevin Choi and Evan Cho managed to strike a deal with Kevin Hart and Lori Greiner for the desired amount in exchange for a 20% stake, with each shark taking 10%.

This marked Kevin Hart’s first investment on the show, adding a unique touch to Snactiv’s success story.

Following the episode’s airing, Snactiv experienced the renowned “Shark Tank” effect, leading to a surge in sales and even selling out almost immediately.

The company solidified its presence by partnering with DoorDash, offering a limited edition Snactiv with orders from select cities.

Moreover, Snactiv expanded its distribution to new markets like Singapore and Canada, showcasing its potential for growth and global reach.

Despite facing challenges post-Shark Tank, such as delays in finalizing deals with investors and dealing with knockoff brands, Snactiv persevered and continues to operate successfully.

Customers can purchase Snactiv products from Amazon or the official website, where they offer a range of options, including the original Snactiv Pro, Snactiv Lite, and themed T-shirts for enthusiasts.

Snactiv remains active in the market, catering to customers who seek a convenient snacking solution.

The company maintains a positive reputation with a high average rating on Amazon and its website, reflecting customer satisfaction with the product offerings.

While specific sales figures have not been officially disclosed, sources estimate that Snactiv is still under $1 million in revenue with a net worth of $2 million, highlighting its steady performance in the industry.

Looking ahead, Snactiv aims to expand its retail presence further and explore new partnerships to drive business growth.

With a focus on enhancing the customer experience and introducing new products, the company is poised to continue its journey in the snacking accessory market.

By leveraging its strong online presence and engaging with customers through social media platforms, Snactiv is set to maintain its position as a fun and useful brand for snack enthusiasts worldwide.

Snactiv’s post-Shark Tank journey exemplifies resilience, innovation, and a commitment to providing unique solutions to everyday challenges.

As the company navigates the evolving business landscape, it remains a promising player in the snacking industry, with potential for further expansion and success in the future.

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What Is the Net Worth Of Snactiv?

According to our research, Snactiv’s net worth is estimated to be $2 million. The valuation of Snactiv was $1 million after securing an investment from Lori Greiner and Kevin Hart on season 13 of Shark Tank.