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iFork Shark Tank Update

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iFork is a way to protect one’s utensils from the dirty germs spread on a table. Many people get restless when they see their knives, spoons, and forks kept on the table beside their plates, especially in a restaurant.

They get worried about the germs sticking to the silverware and then going into their body with the food. iFork is the perfect solution to prevent the same.

iFork is a little ball that helps in suspending utensils in the air and protecting them from germs on the table. iFork also introduced interlocked utensils, cups, and plates and also for plastic cutlery.

An eight-pack of combo sets can be bought for $19.99. The stainless steel utensils combo can be bought for $125 and it contains a fork, salad fork, knife, teaspoon, and tablespoon.

iFork at a Glance:-

IdeaInterlocking cups, forks, and plates
FoundersKyle Donovan
Asked For$100,000 for 5% equity
Accepted Deal$100,000k for 15% equity
SharksBarbara Corcoran
Business statusIn Business
Episode No.Season 9, Episode 15
WebsiteiFork
Buy on AmazonBuy Now!

Index:

Who are the founders of iFork?

Kyle Donovan is the founder of iFork. He was one of the many people who get anxious about their silverware touching the dirty table and catching germs. He launched an IndieGoGo campaign to raise funds for starting his business iFork. He set a goal of $25,000 but could raise only $4624.

The campaign might have failed drastically but Kyle’s determination expanded his line of business. He just needed a shark’s expertise to help him in manufacturing as well as distributing the products.

Did iFork get a deal on the Shark Tank?

Kyle Donovan came on the show in search of expertise to grow and investment to expand his business. Kyle Donovan pitched for an investment of $100,000 for 5% equity in the business. Kyle explained the concept of iFork, and how he get the idea of this till executing it. Kyle gave an impactful presentation and ended his pitch by dancing moves with his interlocking plates and utensils.

Sharks were dazzled by his moves and the whole concept of iFork.  Kyle shared that he tested it in over 500 stores including Walmart. Kyle needed sharks’ expertise and investment to build a brand of iFork in the market.

Mark Cuban doesn’t like the packaging and went out. Lori Greiner found it tough and risky to go within the market and therefore she’s out. Rohan went out too due to the high risk.

Barbara Corcoran jumped in and gave an offer of $100,000 contingent on redesigning the plates and packaging so that they can make it big. Robert Herjavec suggested going with Barbara as she is the right fit.

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Kyle took the suggestion and gave a counteroffer of $100,000 for 15% equity in exchange. Barbara Corcoran accepted the counter and they closed the deal.

What happened to iFork after the Shark Tank Show?

The deal with Barbara Corcoran never got through. iFork is available for sale on its website. iFork has a Twitter account but it’s been years since it was last active. The founder Kyle Donovan had to indulge in a police case.

During the pitch, they came up with a valuation of $2 million which was brought down to $666,666.6 by Barbara Corcoran. He filed a complaint against his neighbor because she accused him of running a prostitution ring in his house when she saw many people going in and out of the house while attending a Shark Tank watch party. Kyle’s LinkedIn page also references his appearance on the Shark Tank show.

As demand for “ifork” increased, Cawood struggled to keep up with production and faced quality control issues with some of the early batches of the product. This led to negative reviews and customer complaints, which threatened to damage the brand’s reputation.

To overcome these challenges, Cawood had to make tough decisions about manufacturing and distribution, while also investing in marketing and customer service. He also worked to improve the design and functionality of the “ifork” product, releasing new versions with enhanced features and materials.

A pack of 8 is sold for $19.9  and a pack of stainless steel utensils costs $125 with the whole set. In 2021, The Incubator (The Incc) was about to launch. It is a Multicultural Media & Social Networking Platform that was created by Kyle. As of 2022, the platform has still not launched.

Competitors of iFork are:-

There are many popular utensils brands in the market but there are no identical competitors available in the market to iFork. A few Alternatives utensils brands are:-

  • Hawkins
  • Wonderchef
  • Nirlep

What is the net worth of iFork?

The estimated net worth of iFork is $4.2 million. The valuation of the show was $2 million which was brought down to $666,666 by Barbara Corcoran.

Ifork is still in business?

ifork is still in business and is doing great. Kyle has planned to launch an Incubator in 2021 which is a multicultural social media platform but hasn’t launched yet. Bizz Bucket awaits The Incubator and wishes them to be more successful.

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FAQs:

What is iFork?

iFork is a way to protect one’s utensils from the dirty germs spread on a table. Many people get restless when they see their knives, spoons, and forks kept on the table beside their plates, especially in a restaurant.

What's the net worth of iFork?

The estimated net worth of iFork is $4.2 million. The valuation of the show was $2 million which was brought down to $666,666 by Barbara Corcoran.

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