Kitchen Safe Net Worth 2022 – What Happened After Shark Tank

During a January episode of “Shark Tank” entrepreneurs David Krippendorf and Ryan Tseng, both well-known on YouTube, pitched their products and services to a panel of investors.

Then, in an episode of “Shark Tank,” they were awarded $100,000 after delivering one of the most passionate presentations ever seen on television and have gone on to build a net worth of over $2.5 million since the exposure on the show.

Even though the husband and wife had prior experience in real estate, credit, and debt management, they relied on their family’s support to see them through the initial stages of their business venture.

Nevertheless, they were successful despite the numerous obstacles they faced. The film’s creators detailed how they marketed themselves for cash while being turned down by more than 150 companies and organizations.

Kitchen Safe Quick Facts

Name

Kitchen Safe

Company Net Worth:

$2.5 Million

Pitch:

Kitchen Safe

Asked for:

$100,000 for 5%

Deal:

$100,000 for 20%

Shark:

Lori Greiner and Nick Woodman

What is Kitchen Safe?

In this case, it’s a Kitchen-aide developed by Ryan Tseng and David Krippendorf (along with Ryan’s brother, Nick), and it’s intended to help people avoid making poor food choices in the kitchen.

Krippendorf explained that their unconventional method was chosen specifically because it allowed the passion for their product to come through clearly.

Who is Kitchen Safe?

During an episode of “Shark Tank” that aired on ABC in 2014, the panel of judges awarded the company Kitchen Safe $100,000 in seed funding.

One of the most memorable moments in television history occurred when a message was delivered with an exclamation point at its end.

As long as they keep promoting their product, the company is likely to continue to grow.

What happened during the pitch?

As a guest investor and the CEO of GoPro, Nick Woodman stated that the name “Kitchen Safe” was inappropriate for a product that could be used to store more than just snacks.

While this isn’t exactly a ground-breaking concept, it does introduce a fresh perspective to a world becoming increasingly saturated with poor food choices.

The Investment

Following their appearance on the show, Krippendorf and Tseng spent the next six weeks promoting Woodman’s products; however, they began working on new products following their appearance on the show.

Lori Greiner offered $100,000 in exchange for a 20 percent stake in the company. This money is a good amount for the company, but the stake is high.

Because of this, they’ll need a slightly higher profit margin than if they had a lower stake.

Conclusion

In the words of Mr. Krippendorf, the company had sold $2 million worth of kSafes and was looking to expand, something that would have been difficult if the company had continued to operate under its previous name.

In addition, the brand’s new name, KSafe by Kitchen Safe, has a significant impact on how customers perceive the company’s products and services.

In the meantime, we wish the company the best of luck and are looking forward to seeing what they do next!