What Happened To Snactiv From Shark Tank?
When Kevin Choi and Edwin Cho appeared on Season 13, Episode 10 of "Shark Tank," they got all the sharks smiling and laughing with their presentation of Snactiv, a product designed to "upgrade your snacking experience," and keep your fingers, games, and workspace clean while you try to multitask. Everyone was cracking up, but none more than Kevin Hart. "Instantly I just got happy," he said about their product.
After O'Leary made an offer of $200,000 for a 10% stake and a royalty of $1 per unit sold until $1 million was paid, the competition began. "I think this is an amazing product. I love the idea, I love the fun behind it," Hart said before he and Lori Greiner made an offer of $100,000 for a 20% stake.
Choi and Cho made a counteroffer of $200,000 for a 15% stake, prompting O'Leary to revise his original offer to $200,000 for a 5% stake and a royalty of 50 cents per unit sold until $1 million was paid. O'Leary tried hard to win them over, but Choi and Cho took Hart and Greiner's offer.
Even though Hart and Greiner seemed pretty stoked about Snactiv, the Shark Tank Blog reported that, as of October 2022, there was no evidence the deal ever closed. Nonetheless, Snactiv is now available in the U.S., Canada, and Singapore, as well as on Amazon and Snactiv.com, with an estimated annual revenue of less than $1 million as of Shark Tank Blog's report.
Snactiv has a strong online presence
Snactiv's founders Choi and Cho came up with their chopstick-style snacking tool at an ideal time: when everyone was balancing working from home. "Kevin [Cho] and I always talked about creating a product together and he came up with the idea of Snactiv. I thought it would be cool – and what better time than during the pandemic to build out a product that applies to people working from home," Choi told Punahou Magazine. Finally, a clean way to eat your favorite nacho cheese-flavored snacks or healthy snacks while typing on your keyboard, without getting your hands and workstation messy.
When they appeared on "Shark Tank," Choi and Cho mentioned a marketing initiative with a major food delivery company, which turned out to be Doordash. The limited edition, red Snactivs were sold nationwide at their Dashmart locations. Since appearing on "Shark Tank" they have increased their productivity, selling bundles of Snactivs in different colors besides their original black or white. They also began selling T-Shirts, including one made to look like you've smeared Cheeto dust all over your shirt — a clear nod to life without a Snactiv.
They have also ramped up their attention to gamers with many Instagram posts demonstrating how much easier it is to focus on your game if you snack with a Snactiv, even posting a hilarious video showing unrealistic and increasingly outrageous options if you don't use their product.