The Kitchen Safe is a time-locked container that inventors and entrepreneurs David Krippendorf and Ryan Tseng present on Shark Tank episode 612.
A Kitchen Safe is a container for storing food that features a timer-lock top that keeps food fresh for a longer time.
The Kitchen Safe works by simply placing what you want inside and closing the lid. You will not be able to get at your belongings until the timer expires and there is no override.
A self-control idea that Krippendorf had come about to satisfy his cookie cravings and impose some self-control on himself.
The principle is straightforward: if you have any junk food around that you are concerned you would consume during a binge session, you can put it away until you are no longer concerned.
The Kitchen Safe is composed of food-grade plastic free of BPA, yet it can store much more than food.
Parents may keep their children’s toys locked away, and people can use them to charge their cell phones during dinner!
In July of 2013, Kitchen Safe was successfully financed on Kickstarter. They were able to raise $42 thousand to begin their first production run.
You can purchase the product on Amazon and the company’s website. They are likely looking for a Shark to aid in large-scale distribution and provide order fulfillment funds.
Do you think a Shark will seal the deal on The Kitchen Safe?
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.
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 as well.
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|
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 in various capacities 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 use it to store their children’s toys, and individuals can use it to charge their phones!
The Kitchen Safe was successfully funded on Kickstarter in July of 2013. The product was well-received, with sales of 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, which is described as “a revolutionary habit-changing gadget.”
He realized that he needed to do something to help him with his sugar cravings and acquire some 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 would always find it when he tracked it down, which led to the idea for 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 the distinct feature that 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 Kitchen Safe?
David and Ryan appeared on Shark Tank enthusiastically to promote their goods to the audience. They’re looking for $100,000 in exchange for a 5% stake in Kitchen Safe.
The Sharks laugh as they watch them demonstrate the product and make their funny pitch.
David argues that a “commitment mechanism” aids in resisting the urge to eat. When the Sharks arrive, they are given samples to try.
Mark is not satisfied with not being able to override the product, and his argument does not persuade the other Sharks.
A purchase order for $300,000 has been placed with HSN and shows the results of their efforts. They cost $14.50 to make, yet they sold for $49 at retail.
Mr. Wonderful believes it is excessively pricey. They have four patents pending, and they believe the product has a place in the retail market.
Nick Woodman believes that the company’s name limits its brand’s potential. The Sharks then call into question the valuation.
David claims that they are offering the Sharks a discounted price for the firm. Mr. Wonderful slams it as “a piece of junk,” and David breaks down in tears. Kevin is instructed to cease talking by the other Sharks.
Mr. Wonderful exits the room as Lori enters and announces that she will make a counter-offer.
Lori can’t make her offer until David has defended his product strongly and engaged in a heated debate with Mr. Wonderful.
Daymond compliments the team’s work during a commercial break and offers $100K as a prize in exchange for a 20 percent stake. David claims that he created the product to be of assistance to others.
Lori then offers them $100,000 in exchange for a 20 percent stake in QVC instead of HSN.
Nick offers an additional $100,000 as payment to Lori so they can make a total of $200K for 30 percent.
Daymond and Lori engage in a minor scuffle while Nick and Lori converse. They are offering $100K in exchange for 20% of the company, and they both claim to believe in them.
Nick and Lori reject Kitchen Safe’s offer of $200K in exchange for a ten percent stake.
Mark claims he is not present, and Daymond becomes enraged that they ignore him. They agree with Nick and Lori.
Final Deal: Nick and Lori agreed to a deal worth $100,000 for a 20 percent stake in Kitchen Safe.
What Happened To Kitchen Safe After Shark Tank?
David, Ryan, and their invention Kitchen Safe has had a successful afterlife following their appearance on Shark Tank.
As a Shark Tank success story, the 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 done a great deal for 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 position of leadership to broaden the scope of the company, 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!