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AnyTongs Shark Tank Update

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Have you ever wondered if the spoons and forks you use can be used for purposes other than eating as well? Sounds crazy, right?

But this has turned into reality with AnyTongs. AnyTongs is a device that can turn your ordinary spoons and forks into multi-purpose tongs!

So now forget the old, cumbersome tongs and convert any utensil into the tongs you like !!

AnyTongs at a Glance:-

IdeaDevice that helps convert regular utensils into tongs
FoundersTog Samphel
Asked For$150,000 for 20%
Accepted Deal$150,000 for 49%
SharksDaymond John
Business statusIn Business
Episode No.Season 14, Episode 13
Buy on AmazonBuy Now!

Index:

What is AnyTongs?

Anytongs is a tool that helps to convert regular kitchen utensils into kitchen tongs when a combination of forks or spoons is attached to the rubberized slot.

AnyTongs can double up as a spoon, fork, or even a spatula and eliminates the need to use multiple tongs for different work.

It is a simple device that is lightweight, compact, sturdy, and highly adaptable according to your needs.

With its multi-purpose abilities, it becomes a practical solution to the problem of more utensils and less storage. It can easily be a versatile and sustainable addition to your kitchen.

Founder Story:

Tog Samphel, the inventor and owner of AnyTongs dropped out of college in 2004 to work for AOL.

He then had a good career as a designer with companies like, Loop, Meta, and Nintendo. Being a designer, he always wanted to design something of his own, but could never keep a finger on what.

In 2020, he saw his mother using clothes pins with spoons taped to their ends as tongs, this inspired him to create AnyTongs.

He then ran a Kickstarter campaign for his product and raised $33,454 in November 2020. Owing to the demand, he then started delivering the product just the next month.

Since then he has been running the business with the help of his wife and two children.

Did AnyTongs get a deal on Shark Tank?

Tog entered Shark Tank with an ask of $150,000 in exchange for 20% equity in AnyTongs.

He starts his presentation by establishing how tongs are useful but cumbersome to handle, hence the need for his product. He then also demonstrated his Kickstarter campaign success as a testimony to the product’s need.

The cost of production for each tong is about $2 and he sells them at around $19.99.

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Despite the obvious popularity of the product, the company could only generate around $7,000 in revenue due to the global pandemic. He also stated that he faced a lot of issues in manufacturing his products.

Most of the Sharks, such as Lori and Mark were unimpressed by the low sales values of the company, hence they decided to drop out.

Only Daymond saw the potential in both the entrepreneur and the company and offered him a deal of $150,000 for a 49% stake. After many rounds of discussion, Tog finally accepted Daymond’s terms and sealed the deal with him.

What happened to AnyTongs after Shark Tank?

The deal with Daymond was closed successfully after the episode aired, in turn increasing the popularity and credibility of the company.

As per the After-effects of the show, Tog sold out his inventory completely within days of appearing on Shark Tank.

As of the year 2023, it is reported that the business is experiencing a major upswing in its business.

The Samphel family continues operating from their headquarters in New Jersey and expects to increase both their production and sales departments simultaneously.

Product Details:

  • AnyTongs is a device that can convert your flatware into a pair of tongs.
  • It is a multi and multiple-use device, i.e., it can be used multiple times and can be used with any ordinary kitchenware.
  • No cross-contamination is possible since you can simply change the utensil that makes up the tong with a cleaner one.
  • It is easy to use and grip owing to the spring-action mechanism.
  • It is an eco-friendly option since it eliminates the need to use different tongs for separate utensils.

What is the Net Worth of AnyTongs?

AnyTongs entered Shark Tank with a demand of $150,000 for 20% equity valuing the company at $750k.

The owner, however, accepted a deal of $150,000 for 49% equity, bringing the valuation down to $306k.

Currently, the company is estimated to have a Net Worth of around $2 million. With a huge market size of $2.7 billion, the company is sure to increase its worth in the future.

Is AnyTongs still in business?

Yes, the company is still in business and is continuing to work out of its New Jersey headquarters. With its versatility and practicality, the product is sure to spread far and wide in the market.

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FAQs:

What is AnyTongs?

Anytongs is a tool that helps to convert regular kitchen utensils into kitchen tongs.

What's the net worth of AnyTongs?

AnyTongs entered Shark Tank with a demand of $150,000 for 20% equity valuing the company at $750k. The owner, however, accepted a deal of $150,000 for 49% equity, bringing the valuation down to $306k. Currently, the company is estimated to have a Net Worth of around $2 million.

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