Do you love snacking but hate the mess? Introducing the Snactiv Snacking Tool, the ultimate solution for on-the-go snacking!
This innovative tool allows you to enjoy your favorite snacks without the worry of making a mess. With a sleek and functional design, the Snactiv Snacking Tool is perfect for those who want to snack smarter and avoid the hassle of dealing with crumbs and spills.
Snacking Tool is a special kind of chopstick from a company called SNACTIV, that is designed to get fit in your finger as a ring and used in several ways, these are made up of food-safe ABS plastic and TPU Rubber that can be fit in your fingers comfortably. It is designed to allow its users to continue to work and play games without worrying about dirty fingers and devices.
It is developed to give their user a sweet snacking time while they are on their gadgets as:- eating chips while playing games, watching movies and doing work, etc.
SNACTIV Snacking Tool at a glance
|Kevin Choi and Edwin Cho.
|$200,000 for 10% of equity.
|$200,000 for 20% of equity.
|Kevin Hart and Lori Greiner.
|Buy on Amazon
What is SNACTIV Snacking Tool?
Snack smarter, not harder with Snactiv Snacking Tool! This innovative product was pitched on Shark Tank as the ultimate way to snack on the go without making a mess. With its sleek and functional design, the Snactiv Snacking Tool allows you to enjoy your favorite snacks anywhere and anytime.
While it didn’t secure a deal on the show, the Snactiv Snacking Tool continues to be available for purchase online and is a popular choice for those who want to snack without the hassle.
Snacking Tool is founded and developed by 2 young entrepreneurs called Kevin Choi and Choi Cho. They both have various experiences in marketing and launching any product into the market. They both are very much familiar with the process of introducing various new items to market. They both are a team of designers and engineers that have very much expertise in developing various kinds of products that have different uses. They also, in the services and makes the software too.
They previously collaborated with mega-corporations that include Disney, Netflix, Hasbro, ZipRecruiter, Fuhu and Mattel, etc. They set their designer team in Los Angeles, USA, and their manufacturing team in Hong Kong.
Did Snacking Tool get a deal on Shark Tank?
Snacking Tool is introduced as a fun and future-ready snacking tool that won’t let you stop eating your snacks while you are on your computers and gadgets, it has a ring-like structure that is made up of a combination of ABS and TDU plastics and rubbers that are easy to be fit’s in your fingers and feel comfortable.
They gives their samples to sharks and asked them for $200,000 for 10% of the equity in their company. Sharks find products interesting and asked for their sales and costs as:- A pair of Snactiv costs $15, and an additional $3 for a case to hold your snacking tool that costs them to manufacture is $2.60 without a case and with a case at $2.80. Also, they are operating for the last five months and they generated $187,000 in revenue.
Sharks show interest in their product and want to invest in it as Kevin O’Leary initially offers them $200,000 in exchange for $1 per unit until they get $1 Million and 10% equity in their company.
Later Lori Greiner and Kevin Hart offer them $200,000 for 20% of their company. Owners counter Kevin O’ Leary for 5% of equity and $0.50 per unit as royalty, Kevin rejected them finally they accepted Kevin Hall’s and Lori Greiner’s offer and here they get a deal on the show.
What Happened to Snacking Tool after Shark Tank
After the show, they get huge popularity and gain a massive hike in their sales. the deal with Kevin and Lori gets to been completed and they started selling them in the various online-offline market like Amazon etc.
After the show, the Snactiv Snacking Tool continues to be available for purchase online and is a popular choice for those who want to snack without the hassle. However, the exposure from the show helped raise awareness for the product, and it has since gained a following online.
Today, the Snactiv Snacking Tool is available for purchase on the company’s website and on Amazon. The product has also expanded to include a Snactiv Snacking Tool for Pets, which helps prevent pets from making a mess while eating.
Competitors of Snacking Tool
They are one of its kind of product in the entire market but they also have to face competition from 2 kinds of market segments that are utility items market and the chopsticks market.
Net Worth of Snacking Tool
At the time of their appearance in the show, they are valued at $1 Million. However, they have huge demand for their product after the show also they started distributing them in various other parts of the country too.
Is Snacking Tool still in Business?
Snacking tool is still in business and operating in a satisfactory profit, also their sales are increased approx. 5 times when they appear in the show.
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What is SNACTIV?
Snacking Tool is a special kind of chopstick from a company called SNACTIV, that is designed to get fit in your finger as a ring and used in several ways, these are made up of food-safe ABS plastic and TPU Rubber that can be fit in your fingers comfortably.
Who founded SNACTIV?
Snacking Tool is founded and developed by 2 young entrepreneurs called Kevin Choi and Choi Cho. They both have various experiences in marketing and launching any product into the market. They both are very much familiar with the process of introducing various new items to the market.