Table of Contents Show
What Is Kitchen Safe?
Kitchen Safes are containers with a lock on top that prevent food from being tampered with. This box addressed, among other things, food cravings, bad spending habits, and gaming addiction.
You can use the containers to store cookies, credit cards, phones, and other items you don’t want to come into contact with. The Kitchen Safe is a timer that locks a plastic container in place. Users who have their accounts locked will not be able to access account contents until the lock-out timer expires.
The initial intentions behind this plastic container were to confine junk food to a locked container stored in an out-of-the-way place. However, the scope of this product has been expanded to include storing phones, whiskey, and other addictive items inside the container. kSafe is the new name for Kitchen Safe due to these changes in usage.
| Company Name | Kitchen Safe |
| Entrepreneur | Ryan Tseng and David Krippendorf |
| Product / Business | Time-Locked Container for Kitchen |
| Investment Asking For | $100,000 for 5% equity in Kitchen Safe |
| Final Deal | $100,000 for 20% equity in Kitchen Safe |
| Shark | Nick Woodman and Lori Greiner |
| Episode | Season 6 Episode 10 |
| Business Status | In Business |
| Website | Visit Website |
Who Is The Founder Of Kitchen Safe?
David Krippendorf and Ryan Tseng co-founded Kitchen Safe, aka KSafe. David spent several years in the financial industry after graduating from college. He then joined forces with other developers to create kSafe. Ryan, his buddy, worked as an electrical engineer in the military.
Krippendorf devised the scheme to motivate himself to exercise self-control and resist the urge to eat cookies. You can lock away junk food that you are concerned you may consume during a binge session if you have it nearby.
Food-grade plastic is used to construct the Kitchen Safe, which serves as more than just a food storage container. Parents can store their children’s toys, and individuals can use them to charge their phones!
The Kitchen Safe was successfully funded on Kickstarter in July 2013. The product was well-received, with approximately $300,000 in 11 months. The device is available for purchase on Amazon and the company’s website.
Kitchen Safe Before Shark Tank
David Krippendorf and Ryan Tseng from San Francisco, California, invented the Kitchen Safe, described as “a revolutionary habit-changing gadget.” He realized he needed to do something to help him with his sugar cravings and acquire willpower when he reached for the cookie jar or other sweet snacks far too often.
David’s wife hid junk food in their home, but he always found it when he tracked it down, which led to the idea of Kitchen Safe. The Kitchen Safe lid is equipped with an electronic timer that can be set to prevent access to contents until the timer expires.
The Kitchen Safe can be locked for up to ten days, ranging from one minute to one month. Kitchen Safes were designed for saving sweat delicacies and practicing willpower over oneself for a specific time.
However, as David and Ryan finished developing the device, they recognized that it could be utilized for various other purposes. Parents and children can use it to store remote controls for televisions and video game systems.
Kitchen Safe has a distinct feature: you cannot override the lock until the timer reaches zero on the clock. You can only access anything you’ve locked up by breaking into your kitchen safe – an expensive way to satisfy your sweet tooth!
David and Ryan decided the time had come to take their product to the Shark Tank, even though they were making a name for themselves on the market. They also sought further financial assistance and gained access to the invaluable entrepreneurial skills that the sharks were able to provide.
How Was The Shark Tank Pitch Of the Kitchen Safe?
David and Ryan appeared on Shark Tank seeking an investment of $100,000 in exchange for a 5% stake in Kitchen Safe.
Final Deal: Nick and Lori agreed to invest $100,000 for a 20 percent stake in Kitchen Safe.
What Happened To Kitchen Safe After Shark Tank?
David, Ryan, and Kitchen Safe’s inventions have had a successful afterlife following their appearance on Shark Tank. As a Shark Tank success story, Kitchen Safe has benefited greatly. Not to mention the marketing skills of Lori and Nick to help advertise the product.
David and Ryan are expanding their product line in response to the positive response from people who have used this device. In addition to an iPhone application that allows users to use the timer, they are developing an iPad application.
Kitchen Safe Shark Tank Update
The popularity of David and Ryan’s products has only grown since their appearance on the Shark Tank. They were well-known as a Shark Tank success story, which has greatly improved the company’s reputation.
Nick and Lori suggested renaming the company instead to Ksafe to position it as a company with more than just kitchen products in the future.
David and Ryan worked in various fields before collaborating on the development of kSafe. As a finance professional, David held various positions over the years. On the other hand, Ryan had worked as an electrical engineer with him.
They have leveraged their leadership position to broaden the company’s scope, and as a result, Ksafe has become a major success. You can easily order the Ksafe device on Amazon and deliver it to your home.
Is Kitchen Safe Still In Business?
Kitchen Safe has adopted the name kSafe since its appearance on Shark Tank. Tseng noted in 2015 that the name kSafe more accurately depicted how you, or your customers, utilize the product. KSafe is used in places other than the kitchen by many of our clients.
The kSafe is used to store food only about half the time! ” kSafe’s time-lock containers are still available in a variety of sizes, including micro ($49), medium ($54), and XL ($59) versions.
M. Krippendorf reports that kSafes had been sold worth $2 million, and the company was looking to expand, which would have been difficult if it continued to operate under its previous name.
The brand’s new name, KSafe by Kitchen Safe, has significantly impacted consumers’ perceptions of its products and services. We wish the company every success in the meanwhile and look forward to seeing what they come up with in the future!
What Is the Net Worth Of Kitchen Safe?
The valuation of Kitchen Safe was $2 million when it appeared on Shark Tank. The net worth of Kitchen Safe is $5 million as of 2022.
