Wouldn’t it be great if you could work on your laptop and eat snacks at the same time? To make things easier, Edwin Cho and Kevin Choi came up with an amazing solution called Snactiv. It’s a unique chopstick that perfectly attaches to your fingers, allowing you to eat any kind of snack without dirtying your hands. However, these chopsticks are not meant for eating rice.
These finger chopsticks can be used to eat snacks while working on your mobile or laptop. It’s an innovative product that allows you to eat food without getting your hands dirty.
The founder duo presented their product on season 13 of Shark Tank. Since then viewers have been waiting to know the net worth of the company. Let’s find that out in the post below.
|Mess-free snacking tool
|Kevin Choi and Edwin Cho
|Los Angeles, USA
|Investment Asked by Company:
|$200,000 for 10% equity
|Sharks on board (Investors):
|Kevin Hart and Lori Greiner
|$200,000 for 20% equity
|Shark Tank Episode:
|Season 13 Episode 10
|Feb 8, 2024
Who are the founders?
Snactiv is founded by Kevin Choi and Edwin Cho, two design professionals from Los Angeles, California.
As far as we know, Kevin specializes in toy designs. He got his degree from Otis College of Art and Design. On the other hand, Edwin has a degree in international business and finance from New York University.
After graduation, Edwin secured a job at Fuhu. During this time, he met Kevin who was working as a designer at top-level companies like Magic Jump Inc., and Disney. They both worked together at a company called Mattel.
Both Edwin and Kevin wanted to quit their corporate jobs and wanted to start a business of their own. They finally started working towards their dream in 2020, when they launched Snactiv.
Kevin always ate snacks while working, but his messy fingers often annoyed Edwin. This is what inspired them to design Snactiv, a modern chopstick that allows users to eat food without dirtying their hands.
They launched the product in 2021 and generate sales of $187,000.
Snactiv On Shark Tank
Edwin and Kevin appeared on Shark Tank season 13. They entered the show with the hope of seeking funds from the investors. They proposed an offer of 10% equity for $200,000.
Initially, the Sharks thought that the product was a great gimmick. But they got surprised after knowing the sales details.
After a long debate, Kevin O’Leary and Lori Greiner teamed up and offered a counter-deal of 20% equity for $200,000. Although the founders were not impressed with the offer, they accepted it in the end.
Snactiv After Shark Tank
After the airing of the Shark Tank episode, Snactiv became extremely popular, resulting in other companies producing cheap copies. Despite that the company is growing and their product has become quite popular among gamers and tech workers.
At present, Snactiv is available on Amazon and its official website. You can also find the product at major retail outlets such as Walmart and Target.
They also sell the product outside the U.S. in South Korea, Hong Kong, and Taiwan. The current net worth of the company is estimated to be $2 million.
1. What is Snactiv valued at?
With the kind of success that Snactiv has gained after their Shark Tank episode, it isn’t even a question that they have an estimated valuation of $2 million, which is growing rampantly.
2. Is Snactiv available for purchase?
Yes, Snactiv is available for purchase, if that’s something that you are interested in getting your hands on. Ideally, we’d recommend you purchase from their website.
3. Is Snactiv a worthy purchase?
If you are someone who doesn’t like getting their fingers dirty when eating snacks, Snactiv is undoubtedly a good option for you to consider buying. The design is practical and it is affordably priced too.