Lit Handlers Net Worth 2022 – What Happened After Shark Tank

Destiny Padgett brought Lit Handlers to Shark Tank in 2020 and made her mark.

The drinks holders are fun, fashionable, and ‘lit.’ The holders provide the holder with a handle for their drink, a comfortable sleeve to hold their drink, and keep their drink at the perfect temperature.

Padgett hooked Shark, Daymond John, in her deal. She asked for $200,000 for 10% equity and sealed the deal with John for $200,000 at a 20% stake in the business.

Lit Handler Quick Facts 

Name:

Lit Handler

Net Worth (2021):

$1.8 Million

Pitch:

Insulated Drink’s Sleeve

Entrepreneur:

Destiny Padgett

Asked for:

$200,000 for 10%

Deal:

$200,000 for 20%

Shark:

Daymond John

Monthly income:

$100,000

What is Lit Handlers?

Lit Handlers are the ‘Littest’ (coolest for any non-millennials out there) cold drink sleeves with handles.

The sleeves maintain the drink’s temperature (hot or cold) by insulating it in water-proof 3mm neoprene! The neoprene maintains the drink’s temperature without freezing or boiling the hand that is holding it.

The Lit Handlers have handles on them to make picking up and holding them easy. They also have small pockets on them for essentials such as lip balm, lighters, or bottle openers!

The Lit Handlers come in many shapes and sizes as well as colors and patterns to suit everyone’s needs.

Who is Destiny Padgett?

Padgett graduated from the online college BYU Pathway in 2012. In 2016 she started her own company called LITcancoolers. LITcancoolers was changed to Lit Handlers soon afterwards to snag the patented name.

What happened during the pitch?

Destiny Padgett pitched her product the Lit Handlers, to the Sharks and asked for a $200,000 investment in exchange for 10% equity.

The Sharks got straight to business and asked Padgett about her numbers. That year (2020), she had already made $630,000 and projected $780,000 for the remainder.

Lori Greiner, Mark Cuban, and Robert Herjavec did not think she needed any more help and jumped ship with kind words of encouragement.

Kevin O’Leary offered her the full $200,000 for 20% of the business. Daymond John then offered the money for a 25% stake in the business. O’Leary quickly changed his offer to 25% to match John and to force Padgett to choose.

Daymond John then dropped his offer to 20% if she agreed immediately, which she did!

Watch it all here

The investment

Daymond John and Destiny Padgett celebrated with a Facebook post and the deal was officially sealed in May of 2021.

Lit Handlers sells its products through its very active social media sites, on its website, and through Amazon. Padgett has expanded her products to include holders for ice-cream tubs, pint glasses, coffee tumblers, and jugs!

She has also expanded into the merchandising industry with neoprene-made sleeves, accessories, and totes.

Conclusion

Padgett really did fulfil her Destiny when she hooked Daymond John in on the $200,000 deal. Lit Handers are now sold worldwide through Amazon and on the Lit Handlers website.

Their sales are up and it looks like they will continue to grow!