X Torch Shark Tank Update – By August, 2022, they ironed out the supply chain issues and the products are readily available on their website and Amazon. Their most recent charitable endeavor was giving a bunch of flashlights to the residents of Vallières, a landlocked, remote city located in the hills of northern Haiti that has no electricity.
Annual revenue is around $1.5 million. Since XTorch’s appearance on Shark Tank, sales have increased significantly. In addition, the company has been featured in several major publications, including Time Magazine and Forbes. XTorch has also been featured on popular TV shows like The Today Show and Good Morning America.
X Torch Shark Tank Update
Yes, XTorch is profitable. The company was able to increase sales and media attention after appearing on Shark Tank. While the company has not yet achieved mass market success, they are seeing steady growth in its customer base.
Is Xtorch Profitable?
For the past year or so, I have been inundated with complaints about a Shark Tank skin care scam. Most of the complaints come from people who ordered the product and had their credit cards charged without authorization for as much as $109!
The so-called “biggest deal in Shark Tank history” is a TOTAL SCAM. […] Keidy and Gene Palusky hope to light up the Tank with XTorch, their combination flashlight and phone charger, in Shark Tank episode 1224. The couple met in 2001 while they were both doing missionary work in the Dominican Republic.
They were struck by the unreliable electric service the country had. They went on to Equatorial Guinea where there was no electrical service at all in some places. People in developing countries also rely heavily on cell phones for communications and they need a reliable way to charge them.
When this episode aired, in a few weeks this company sold 1400 units and they didn’t even have much stock left. During the first month of the Shark Tank episode, this company did very good sales.
Shark Tank Skin Care Scam
After hearing the pitch, Sharks call the product a flashlight, but the founders keep sharing how it is different from a regular one. Moving on, Kevin inquires about the sales. In 2019, Xtorch sold products worth $53,000.
On further inquiry, the founders also reveal that the product does not have any patent. First, we can look at the net worth of the sharks themselves. Second, we can look at the value of the companies that they have invested in on Shark Tank.
When it comes to net worth, Mark Cuban is the clear winner. His net worth is estimated to be $ 4 billion dollars. Robert Herjavec comes in second with a net worth of $ 200 million dollars, and Kevin O’Leary rounds out the top three with a net worth of $ 140 million dollars.
Kevin says he is out as he believes they should go directly to the consumer at half the price they are currently selling it. Mark is of the opinion that while the product is good, they haven’t sold enough of it yet;
Xtorch Shark Tank Update
so he is out. The remaining two Sharks also say they are out. However, Robert says he likes the product but he is interested in buying the whole company for $400k. Gene counter offers a price of $1 million.
Robert increases his offers to $500k. However, Gene refuses to take the offer, counteroffering $750k. Robert is not willing to go up to $750k, and the Xtorch founders walk out without a deal. The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show.
During the weekend following their initial appearance, the company sold out of all 1400 units they had in stock. They are selling on their website only on a pre-order basis. This appears on their website as of July, 2021:
In the months after our appearance on Shark Tank, sales of XTorch increased significantly. They were also able to secure additional funding from investors, which helped them scale their operations. Additionally, the team received a lot of media attention, both positive and negative.
Shark Tank Appearance
Overall, appearing on Shark Tank was a great experience for the company. It helped them gain exposure and grow their business. It’s been rumored that Barbara Corcoran left Shark Tank because she was offered a role on another television show.
While this has not been confirmed, it would make sense given her recent success on Dancing with the Stars. Whatever the reason, her departure leaves a big hole in the show. Barbara was one of the original Sharks on Shark Tank first aired in 2009. She quickly became a fan favorite with her no-nonsense attitude and willingness to invest in unique businesses.
When they tell the Sharks they give lights to non-profits, Kevin asks them if they’re a business or a charity. Last year (2019), they sold $$53,000 so far in 2021. They don’t have any patents. Kevin thinks they should go direct to consumer for $29.95;
he’s out. Mark calls it a good product, but they haven’t sold enough; he’s out. Daniel doesn’t like the price; he’s out. Robert says he loves the product but he wants to buy the entire company.
Why Did Barbara Leave Shark Tank?
He offers $400,000. Gene counters with $1 million. Lori then goes out. When Robert goes to $500,000, Gene goes to $750,000 and Robert goes out. After pitching the product, the founders informed the backstory of how the idea of creating Xtorch came to them.
Keidy was born in the Dominican Republic and experienced power shortages from a young age. However, a tragic personal tryst with lack of power in Africa when they were working with a food distribution NGO was what led to the conception of the idea.
Keidy and Gene enter the Shark Tank seeking $150,000 for 10% of their company. They explain their product and give their pitch. Gene actually smashes a block of ice that has an XTorch frozen inside it.
Gene needs to show Lori and the other Sharks how it works. It takes 22 hours to charge by solar and 1 hour by electrical outlet. They cost $18.50 to make and they sell for $55.95.
Xtorch Shark Tank Recap
The next production run, the manufacturing cost will drop to $14. They spend a minute or so telling their backstory. They are trying to say how their flashlight is different and the Sharks keep saying “it’s a flashlight.”
Since appearing on Shark Tank, the XTorch team has seen an uptick in sales and media attention. The show gave them a chance to showcase their product to a wider audience and helped them gain some valuable exposure.
In the months since their appearance, they’ve been working hard to keep up with the demand for their product.if(typeof ez_ad_units!=’undefined’){ez_ad_units.push([[580,400],’sharktankwiki_com-box-4′ ,’ezslot_3′,107,’0′,’0′])};__ez_fad_position(‘div-gpt-ad-sharktankwiki_com-box-4-0’); This product can be used anywhere indoors & outdoors etc. The special thing about this is that even if it keeps falling into the water or the ground again and again, nothing will happen to it.
It lasts up to 48 hours on a full charge in one go and saves the user $2,000 for the batteries. This solar-powered XTorch device has two flashlights and a charging cable on the side for connecting a “USB” cord.
What Happened After Shark Tank?
Over the course of nine seasons, she made some great deals and helped grow many businesses. In 2016, she invested in XTorch, a company that makes portable lights for photography and videography. The product was popular with customers and Barbara saw the potential for it to be a big success.
After appearing on Shark Tank, sales of XTorch increased dramatically. The company has also been featured in numerous publications, including Forbes, Entrepreneur, and Inc. They have truly become a success story after appearing on Shark Tank.
If you’re looking to start your own business or grow your existing one, don’t miss out on the valuable lessons that XTorch has to offer. WhatIsTheBusinessModelOf is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.
Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates. DUE TO COVID-19, A WORLDWIDE SHORTAGE OF ELECTRONIC PARTS AND OUR APPEARANCE ON SHARK TANK, WE DON’T EXPECT TO HAVE THE XTORCH IN STOCK AGAIN IN UNTIL MID TO LATE OCTOBER AND WILL NOT BE ABLE TO FULFILL ORDERS UNTIL THAT TIME.
Xtorch Shark Tank Pitch Deal
WE ARE VERY SORRY FOR THE DELAY, BUT WE ARE DOING OUR BEST. After entering the Shark Tank pitch room, Keidy and Gene informed that they were seeking $150,000 in exchange for 10% of their business.
They then introduced their solar flashlight by literally breaking a block of ice and removing an undamaged Xtorch from it as a play to prove the sturdiness of the torch. Gene then informs that the torch was frozen in a block of ice for two days, but still retained the capability for full functioning.
There have been a lot of emails in my inbox about a new Shark Tank Scam – the Shark Tank Keto Scam. Just like the Shark Tank Skincare Scam I reported on a few years ago, this scam is designed to part you from your money by offering a “risk free trial offer.”
DON’T BELIEVE […] The XTorch is a rugged flashlight that withstands drops on hard surfaces without breaking. The lanterns will stay lit for 48 hours on a full charge. They can also charge with a regular electric outlet in about an hour.
Shark Tank Keto Scam
While they’re great for developing countries, they’re also handy for camping and power outages here in the USA. They sell for $49.95 on Amazon. They’ve also been using the platform to raise awareness for their cause.
The XTorch is more than just a flashlight; it’s also a symbol of hope for those who are affected by natural disasters. In the aftermath of Hurricane Harvey, the team distributed hundreds of torches to families in need.
They’re continuing to work with relief organizations to get torches into the hands of people who need them most. [3] It’s clear that appearing on Shark Tank can be a major boost for a business. For XTorch, it led to increased sales and media attention.
If you’re thinking of applying to be on the show, keep in mind that it could have a big impact on your business. The founder of this company, Gene and Keidy Palusky, got the idea of this product due to a lack of electricity in a place in Africa, Equatorial Guinea.
Why Is Xtorch So Special?
The couple met in 2001 while doing missionary work in the Dominican Republic. The company isn’t profitable yet – something that doesn’t bother the Paluskys. “I have all the money I’ll ever need,” Gene recently told a local news organization.
Going forward, they want to donate 25% of their profits to developing nations. In order to continue their philanthropic endeavors, they’ll need to be profitable. A Shark could definitely help with that. While there are many different types of torches on the market, XTorch is unique in its design and functionality.
The torch is handheld and can be used for a variety of purposes, including camping, hiking, and even emergency situations. After demonstrating the ruggedness of the torch, Gene explains that the torch has three functions. It works as a flashlight, a lantern and a cell phone charger.
Xtorch also has an altruistic approach, donating 25% of the profits to partners around the globe. The Xtorch takes 22 hours to fully charge with solar, but consumers can also choose to charge in just an hour with a regular electric outlet.
Is Xtorch Still In Business?
Despite these challenges, XTorch is still a promising startup. They have a strong team with a lot of experience in the industry. If they can overcome their manufacturing issues, they could become a major player in the flashlight market.if(typeof ez_ad_units!=’undefined’){ez_ad_units.push([[300,250],’sharktankwiki_com-banner-1′,’ezslot_14′
,108,’0′,’0′])};__ez_fad_position(‘div-gpt-ad-sharktankwiki_com-banner-1-0’); XTorch is a reliable solar-powered flashlight & phone charger. It is used during emergencies and power cuts. XTorch appeared in Shark Tank Season 12 Episode 22 to seek funding. It is a simple electric product that works on the solar system.
Yes, XTorch is still in business and continues to sell its product. After appearing on Shark Tank, they experienced a surge in sales and media attention. In the years since they have continued to grow their business and develop new products.
[4] Founded by Keidy and Gene, Xtorch is basically a multi-purpose solar torch light. Not only does it work as a solar charging torch light, it also functions as a room lantern and also has a USB port for charging devices.
What Is Xtorch?
The torch is sturdy enough to survive drops on hard surfaces without breaking. On a full charge, the lantern stays lit for a full 48 hours. Apart from sunlight charging, the torchlight can also be charged with a regular electric outlet in one hour.
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Emma Nehls is a military writer and historian with a passion for exploring the intricacies of warfare and the human experience within the military. With extensive knowledge and a deep understanding of military strategy, tactics, and historical contexts, Nehls brings a unique perspective to his writings.
