Xtorch Shark Tank Update: The XTorch is a solar-powered flashlight with a social aim to bring light to those who would remain in the dark. They’re bringing Shark Tank into the spotlight. So, tell me, what exactly is XTorch? Read on to find out.
What is Xtorch?
The XTorch may be used as a flashlight, a room device, and a phone charger; it is powered by the sun and is small and portable. The XTorch team set out to create a torch that would be useful in times of crisis as well as for outdoor lovers.
Because of its dependability in times of crisis and blackouts, the XTorch solar-powered flashlight and phone charger have quickly increased in favor.
Shark Tank Season 12 Episode 22 presented the product in an attempt to secure financing. It’s a straightforward solar-powered electric gadget.
Who is the founder of Xtorch?
The company’s creators, Gene and Keidy Palusky, say that the lack of access to energy in Equatorial Guinea, Africa, prompted them to develop this device. Both were involved in mission work in the Dominican Republic in 2001 when they first met one other.
XTorch Before Shark Tank
XTorch was already on the market and on a quest to deliver a sustainable lighting solution before it appeared on Shark Tank. The solar-powered gadget that could double as a flashlight, room lamp, and phone charger was created by XTorch’s co-founders, Gene and Keidy Palusky.
Even before its debut on Shark Tank, XTorch was popular among campers, trekkers, and others who needed to be prepared for emergencies.
By providing individuals in underdeveloped nations without access to electricity with stable sources of light and power through the gift and distribution of XTorch devices, the firm has also begun creating a beneficial social effect.
Gene and Keidy Palusky sent their product, XTorch, to Shark Tank with the hopes of receiving funding that would allow them to boost manufacturing, distribute to more locations, and ultimately multiply the beneficial effects of XTorch worldwide.
Know about the XTorch Shark Tank update
Xtorch’s appearance on Shark Tank didn’t change anything; the company still managed to move 1400 units in the weeks after the episode aired.
Both Amazon and his own website made up the bulk of their sales. In addition, the company works with a number of other nonprofits on both a local and global scale.
This business earns $1.5 million per year in revenue. Unfortunately, more details from this company are still required.
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Xtorch shark tank update
|Gene Palusky and Keidy Palusky
|rechargeable solar powered flashlight
|$150k for 10% equity
|Xtorch shark tank Episode
|April 23, 2021
|Xtorch Net Worth
|$ 2 Million *estimated
|XTorch Shave Instagram
|GO TO AMAZON
What happened to XTorch after Shark Tank?
Despite Robert’s desire to get Starch, the conversations between Gene and Robert never proceed past the introductory stage.
In keeping with its original mission, the company donates 25% of its annual earnings to charitable causes. Therefore, buyers had a great experience with this item.
Just a few weeks after this program aired, the firm had already sold 1400 units. This company’s earnings went through the roof in the first month after appearing on the Shark Tank show.
In September 2022, the price of this product was $49.95, yet, the company has to stay profitable. On Amazon, though, this item did rather well.
In April 2022, during the crisis between Russia and Ukraine, this company provided XTorch to emigrants from Ukraine. Shark Tank Appearance.
They made $53,000 in sales in 2019, but the Paluskys were still losing money. And They went to Shark Tank the next year and asked for $150,000 for 10% ownership for a deal. They select not to rely on resellers and instead increase sales directly to customers.
The lack of a patent for the XTorch flashlight was brought to the Sharks’ notice during the presentation. They began to have doubts about the company’s track record of making sales, so they decided to withdraw their backing.
However, out of nowhere, Robert Herjavec made an offer to buy the company for $500,000. However, Gene’s counteroffer of $1 million for 100% was also rejected.
Then he requested for $750,000 minimum, and Robert again said no. The businesspeople left without striking an agreement.
Is XTorch still in business?
The XTorch product is popular on the online marketplace. Indicative of its usefulness, almost 80% of buyers on Amazon have rated this item the maximum 5 stars.
The charity work of this company has been featured in multiple publications, including the Southwest Journal, Star Tribune, Gadget Hints, Best Camp Kitchen, Edina, Kare, and Gear Junkie.
To answer your question, XTorch is still running as of October 2022.
Gene and Keidy Palusky is the founder of Xtorch.
When XTorch went on Shark Tank, it was Net valued at $1.5 million. As of the year 2023, Xtorch net worth of around $2 million.
Yes, XTorch is still running as of October 2022.
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