In this blog post, we will be talking about Snactiv – a company that appeared on Shark Tank. If you’re not familiar with Shark Tank, it is a reality TV show where entrepreneurs pitch their business ideas to a panel of investors (the “sharks”). If the sharks like the idea, they may invest in the company. In the case of Snactiv, the sharks didn’t invest in the company but the founder did receive some valuable advice from them.
What is Snactiv?
You can have your favorite snacks without having to give up on being productive! With Snactiv, there’s no need for greasy fingers or dirty hands after finishing a bag of delicious chips. When it comes time do some important work and all you want is some munchies. Simply pull out this cleverly designed device from its slot so that both pieces pop open like magic (no magical spells needed here). Now you can go about your business with clean hands and a delicious snack!
The Snactiv is a device that promises to deliver more snacks into your mouth without interrupting activities or getting covered in grease. The function of the tool, according to its creators on Kickstarter (and our personal experience), works as promised – there’s no need for any other snacking methods after using this ingenious product!
So if you like to eat but hate getting your hands dirty, or just want to try something new, the Snactiv is definitely worth a try.
Who is the Snactiv Founder?
The device was created by two young entrepreneurs, Edwin Cho and Kevin Choi.
Kevin’s career has spanned a wide range of industries, including toy design for some incredibly popular brands. He completed his BFA from the Otis College Of Art And Design before going on to work with Mattel and Disney amongst others!
Edwin is a brilliant and hardworking individual who has overcome many hardships to get where he wants. He studied at the NYU Stern School of Business, worked for Mattel as well in their toy design department before founding Inoobi Incorporated alongside Kevin [2].
They both had a background in mechanical engineering and product design. Kevin worked in management consulting after college while Edwin worked in various startups before they decided to start their own company together.
The two friends wanted to start something new together so they came up with Inoobi Incorporated. Kevin is currently the CEO, and Edwin is the Chief Product Officer.
They are young and ambitious, and they have a lot of energy.
Founders’ Story
The duo decided to pursue their dream of starting a business together. They are a group of designers and engineers with extensive experience developing products for large corporations such as Mattel, Disney, etc.
They have previously collaborated on projects together including software design to game development. Their experience in launching products makes them an excellent choice for developing and releasing your new idea as quickly, efficiently, or higher quality than necessary.
Did Snactiv Get a Deal on Shark Tank?
The short answer is yes.
Edwin and Kevin wanted to get $200,000 in return for 10% equity. They knew that this was a high ask, but they were confident in their product.
The sharks were impressed with the product and the brothers’ passion. They decided to work together and offer $200,000 for 20% equity. Edwin and Kevin accepted the offer.
Moreover, it is difficult to get a deal on Shark Tank. Out of the 40,000 businesses that apply, only about 100 make it on the show.
The duo was happy with the deal because they feel like they can really make a difference with the extra money and resources.
Edwin and Kevin’s story is an inspiring one. They took a risk and it paid off. If you have a great product, don’t be afraid to go after your dreams.
Is Snactiv Still in Business?
The short answer is yes. And they are successful. Their product is now sold in over 100 stores across the country, including Amazon and Walmart.
The friends were so excited about the success of their new product that they couldn’t wait to scale up production. However, it didn’t take long before there was a shortage, and demand outpaced supply again!
This time round Snactiv faced some stiff competition from cheap knockoffs who had started making them look like china junk – but these guys managed to rise above all else with help from some key strategic partnerships.
They have partners and distributors in third-party countries such as Taiwan, Canada, and Japan. You can purchase their product on Amazon in these countries as well!
FAQ
How much does Snactiv cost?
It costs 15 dollars or you can buy a product with a case for 18 dollars. It is not too much for such a useful product.
How many colors does Snactiv come in?
Snactiv comes in black, white, or yellow.
Why Shark Tank is so popular?
Shark Tank is popular because it offers a chance for entrepreneurs to pitch their businesses to a panel of successful investors, who can then choose to invest in the company. This show has helped launch many businesses and has made people very wealthy.
Who invested in Snactiv?
The company’s product – a tool that doesn’t allow your gadgets to get dirty from food crumbs – and their utility patent in progress caught the Sharks’ attention. In addition, the fact that they had already made $187,000 in sales also helped stir up some interest. Lastly, the founders’ funny personalities won them over and created an enjoyable atmosphere all around.
After seeing the potential in Snactiv, Kevin O’Leary offered them $200,000 for a 10% stake and a $1 royalty per unit sold until they made $1 million. He then improved his offer to $200,000 for a 10% stake and 50 cents royalty until they made $1 million. After Kevin Hart and Lori gave their combined offer, he lowered his stake claim further to 5%.
After much deliberation, Edwin Cho and Kevin Choi decided to team up with the two Sharks.
Where is Snactiv located?
Snactiv is the new multitasking snacking tool that a US based company in Los Angeles, California has designed to keep your hands and devices clean when you snack and work.
As of 2019, Snactiv was still going strong and had expanded its product line to include a larger size tool as well as utensils that have the same clean-eating feature. They also have partnerships with major companies such as Walmart, Target, and Bed Bath & Beyond to sell their products in-store locations and online. Additionally, they have received multiple awards for their innovative design and continue to receive positive reviews from customers.
What is Snactiv worth?
The single Snactiv gadget costs around $17. If we put this into perspective, by 2022 Snactiv will be worth a hefty $2 million. The masterminds behind this wonderful design are Edwin Cho and Kevin Choi who both hail from Los Angeles, California. Eddie pursued international business and finance at New York University while Kevin learned toy design at Otis College of Art and Design.
What are the advantages of Snactiv?
Snactiv is an essential tool for anyone who spends long hours working on their computer or laptop, playing video games, or scrolling through their phone. The Snactiv tool allows them to munch on their favorite snacks without getting their hands dirty, which saves their devices from getting greasy and full of Cheeto dust.
The grips on these ‘chopstick-tweezer’ hybrids are well-crafted and practical. They allow you to grab snacks easily and the special polymer used makes them resistant to wear and tear. They are also dishwasher safe and come in a compact size, making them easy to bring anywhere.
The Snactiv is chic and good-looking. You can choose between the “light mode” which is white or the “dark mode” with blackish grey hues.
Not only are Snactiv tools designed to stand on their own, but they also remain clean while doing so. This way, your table/desk/surface will be protected from any mess. In addition, Snactiv tools are free of BPA and phthalates and are FDA-approved. They can also withstand being put in the dishwasher multiple times without sustaining any damage.
Their product is well-designed and comfortable to use. The flexible rubber allows a comfortable fit for all, and the slots are very ergonomic. It doesn’t get in the way of your work or games, allowing you to snack as much as you want without dirtying up your surfaces, screens, or devices.
Pros of using Snactiv:
- Comfortable. These gloves offer an ergonomic fit and are comfortable to wear. The finger slots are flexible and soft, making them ideal for people with variously sized fingers;
- Easy and safe. The grips are easy to use and can grip onto snacks and food easily. The tools are also BPA-free, phthalate-free, FDA-compliant, and dishwasher-safe;
- Snactiv is easy to use because of the rubber tips, which also allow you to grip your snacks tighter. In addition, these gadgets are BPA Free and Food Safe.
- The multitasking aspect of Snactiv is also a huge advantage. Not only can you snack without getting your hands dirty, but the tool also acts as a phone and tablet stand, chopsticks, and tweezers for small tasks. This makes it a practical solution for those who want to save space in their utensil drawer or bag.
What are the disadvantages of Snactiv?
- A potential downside to the Snactiv tool is it might not function correctly with tiny or gluey snacks, like mini chocolate chips or gummy bears;
- Another downside is that it may take some time to get used to the tool and learn how to use it effectively;
- People with larger fingers may find the tool difficult to use;
- Some people don’t find this tool necessary and prefer to eat snacks with their hands;
Is Snactiv worth buying?
Snactiv is a new snacking tool that allows you to eat without dirtying your hands. It is made of Stainless steel and has an ergonomic design.
Snactiv is a convenient snacking solution that based on their own testing and customer feedback, is definitely worth buying. Not only does it save you from dirty hands, but it also allows you to easily eat multiple snacks at once without the hassle of holding multiple utensils or getting your hands messy.
In addition, its durable construction means it will last for many snacking sessions to come.
How long does Snactiv take to ship?
Depending on your location, you can expect your delivery 1-5 days after ordering. You can also opt for express shipping for faster delivery. Overall, the shipping process is fairly quick and efficient.
Useful Video: Snactiv: Reviewing A Product I Saw On Shark Tank
Final Thoughts
So what’s the final verdict on Snactiv? Overall, we think it’s a great product with a lot of potentials. We’re excited to see where the company goes from here and how they continue to grow.
We have seen many great products come out of Shark Tank and we think Snactiv has the potential to be one of them. We’ll definitely be keeping an eye on this company and we suggest you do too!
If you’re interested in trying Snactiv for yourself, you can purchase it on their website or Amazon.
We hope you enjoyed this post and found it informative. Do you have any thoughts on Snactiv or Shark Tank? Have you tried Snactiv? Let us know in the comments below!
Thanks for reading!
References:
- https://biznewske.com/what-happened-to-snactiv-snacking-tool-after-shark-tank/
- https://news.face8ook.org/news/977552422/