AnyTongs Shark Tank Net Worth 2023 – What Happened After Shark Tank?
When Tog Samphel pitched a versatile kitchen tool to the Shark Tank investors, would his simple design and promise of turning any kitchen utensil into a pair of tongs see them bite?
What are AnyTongs?
There’s no denying that a set of tongs in the kitchen is a necessity.
But they can also be a bit of a pain, not only to store but to clean as well.
Samphel’s AnyTongs is a simple device that allows any kitchen utensil to become a pair of tongs. Take two forks, for example.
You simply plug them into the AnyTongs device, and you have a pair of tongs.
It works just as well with spoons, too.
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Who is the owner of AnyTongs?
The inventor behind AnyTongs is Tog Samphel, an American of Tibetan descent.
Samphel, a digital designer by trade, has worked for numerous companies, including Facebook and Nintendo.
Thanks to his Tibetan roots, where his mother used numerous pairs of her own tong designs when cooking and serving dinner, Samphel was inspired to invent AnyTongs.
Shark Tank appearance: The investment
After launching a Kickstarter campaign to get his AnyTongs dream underway, Samphel had some success, but would it be enough to land a Shark Tank investor?
While the investors were certainly impressed with the product, there were several stumbling blocks in his pitch that Samphel had to deal with in his quest to receive $150,000 for 20% of his company.
To start, sales figures.
Up to that point, AnyTongs had only brought in around $7,000 worth of sales, a figure that didn’t impress the investors.
Another problem was the price point, which, at $19.99, was simply too high they thought.
Within seconds, Samphel’s pitch looked like it wasn’t going to be the success he hoped for, as Mark Cuban, Lori Greiner, Kevin O’Leary, and Robert Herjavic all pulled out.
Daymond John, however, remained, and he was quick to offer Samphel an investment, but at a much higher stake than he initially wanted.
While John was prepared to offer up all of the $150,000, he would only do so for a 49% stake in the company.
Samphel tried a counter-offer of a 40% but eventually agreed to Daymond’s initial offer to seal the deal.
Where is AnyTongs today?
Since the investment, AnyTongs is still selling well, mostly through online portals.
Taking the Shark Tank investors’ advice into account, the retail price for a single pair of AnyTongs is $14.99, a marked decrease from the $19.99 they originally sold at.
Large packs are available too, with eight AnyTongs costing $49.99.
What is AnyTongs’ net worth?
Finding figures that support what AnyTongs is currently worth proved fruitless.
With Samphel currently working a regular day job as a product designer, maybe it hasn’t quite taken off as he would have liked.
Conclusion
While AnyTongs are a simple yet effective product, it doesn’t seem like they’ve sold as well as Samphel would have hoped.
That’s certainly backed up by the fact that he’s still working as a product designer.
Overall Score 75 out of 100
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