The snacking tool company Snactiv was aShark Tanksuccess story at one point, and they have continued forward impressively, earning a tidy net worth in the process.The Sharks onShark Tankhave seen all manner of strange ideas come through the tank, but just because something seemed odd doesn’t mean it isn’t a winner. In season 13, episode 10, one of these odd products came in front of the sharks, including the hilariousKevin Hart as a guest shark. Snactiv is a simple snacking device that delighted the sharks the moment they saw it.
Co-founders Kevin Choi and Edwin Cho came into the Shark Tank seeking $200,000 for a 10% stake in their company, Snactiv, which makes a chopstick-like product that fits on someone’s middle and index fingers. With it, people can snack on foods while keeping their hands clean, a boon for computer users. With some impressive figures, sharks were immediately interested.The Snactiv guys closed things quickly though, getting Hart and Lori to go in together for a 20% stake at $200,000, with Kevin offering his usual royalty-dependent deal.
Snactiv’s Net Worth Is Possibly As High As $2 Million
Snactiv Sold Out Of Product After Shark Tank
There are no official Snactiv net worth numbers at the moment, but some publications likeTechiegamersandLooperplace the company’s net worth between $1 million and $2 million, though the origin of those numbers is unclear.Snactivmaintains an active website andInstagramaccount and even has more products available for purchase, including lighter versions of their original product, glow-in-the-dark versions, and t-shirts. One of the shirts is a version of the “Cheetoh-shirt” the founders used in their pitch.
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It’s unclear if theShark Tankdeal ended up going through though, not an uncommon occurrence on the show. Snactiv did earn theShark Tank"bump", which is when a company sees an uptick in sales just for appearing on the show. Cho said that they had completely sold out of inventory after their appearance and had to restock quickly afterward (viaFoodRepublic). Snactiv bundles are now available worldwide and are able to be purchased through Amazon.
What’s Next For Snactiv
Kevin Choi And Edwin Cho Haven’t Made Any Big Announcements
Before working on Snactiv together, Choi and Cho, best friends, had worked together on plenty of other products and even helped launch products for Marvel, Disney, and Mattel. While it’s unclear what their next move will be,it seems that they are not finished with Snactive, especially considering their recently released line of colorful Snactive tools. Their frequent activity onInstagramandFacebookis indicative of entrepreneurs who are not interested in stepping away from their company.
Instead, they seem to be interested in finding out just how high they can drive Snactiv’s net worth, with or withoutShark Tank.
Shark Tank
Cast
Several successful investors and financial moguls sit in on pitches from professional and amateur American entrepreneurs in Shark Tank. This reality television series sees a group of five “sharks” who give hopeful people with a dream a chance to secure funding and support from some of the most well-known figures in the business world. Products and services come from all over as the sharks judge and try to determine if the pitches are investable.
