What is the kitchen safe from shark tank?
The Kitchen Safe is a time-locking food storage container. Put whatever you want in The Kitchen Safe, lock the lid, and you won’t be able to access it until the timer runs out (there are no overrides).
Krippendorf came up with the notion as a method to teach himself self-control and stop his cookie cravings.
The idea is simple: if you have junk food on hand that you are afraid you will eat in a binge, you can put it away for a reasonable amount of time.
What happened to the kitchen safe on shark tank?
Kitchen Safe before Shark Tank: The Kitchen Safe was created by David Krippendorf and Ryan Tseng of San Francisco, California. They describe it as a “revolutionary habit-changing device.” When David found himself reaching for that jar of cookies or sweet sweets much too often, he realized he needed something to help him limit his sugar cravings and establish some willpower.
His wife often hide junk food in the house, but David would always find it; therefore, Kitchen Safe was born. A Kitchen Safe is a container with a timer built into the lid that allows you to set a timer and not have access to whatever is inside until the timer goes off. The Kitchen Safe can be locked for a period of time ranging from one minute to ten days.
Kitchen Safe the revolutionary time locking container
The Kitchen Safe was originally intended to be used for holding sweat delicacies and exercising self-control over a set length of time. However, after developing the device, David and Ryan discovered it could be utilized for so much more. It can be used to store television or game console remote controllers, making it beneficial for parents as well.
There is no method to override the lock until the countdown hits zero, which is a unique feature of this product. This implies that the only way to get to what you’ve locked up is to smash the kitchen safe — an expensive way to satisfy your sweet tooth!
Although the Kitchen Safe appeared to be gaining traction on the market, David and Ryan felt it was time to enter the Shark Tank. They weren’t only searching for some more cash; they also wanted the sharks’ invaluable entrepreneurial talents to help them grow their firm.
Inside the Shark Tank with Kitchen Safe
After Ryan had introduced himself, David enthusiastically proceeded to discuss the product when he and Ryan approached the shark tank. As he described what their product was all about, his joyful demeanor immediately drew the sharks’ interest. David went on to say that he and Ryan were looking for $100,000 in exchange for a 5% ownership part in their firm, Kitchen Safe.
When David started talking about temptations and how they were ‘everywhere,’ the sharks started laughing. But there was a serious issue hidden beneath the cheerful exterior: two-thirds of the population is overweight, and a device like this could help reduce cravings because what’s inside the Kitchen Safe isn’t accessible until the timer counts down.
Ryan goes on to describe David as a “serial midnight muncher” as he explains this breakthrough technology. David exemplifies this trait by eating on a cookie, which makes the sharks laugh once more. The sharks are even more impressed by the amount of research the duo has put into what appears to be a basic device. The Kitchen Safe has been scientifically demonstrated to battle temptations and has been termed as a “commitment device” by psychologists.
When Mark inquires about the device’s lack of overrides, David reveals that as a child, he used to harass his parents until they gave in to his demands. The Kitchen Safe, on the other hand, is almost like a teaching tool that educates kids that they can’t have the sweets until the timer runs out. Throughout the pitch, David and Ryan were enthusiastic and passionate about Kitchen Safe.
Kevin delves into the numbers with the duo, who explain how they were able to sell $300,000 in just 11 months. Their online website has accounted for 90% of their sales. Ryan goes on to say that they’ve placed an order with HSN. Lori expresses interest at this stage and inquires about the cost of production and the retail price of the goods.
The sharks are taken aback by the $49 retail price and wonder if the manufacturing cost may be reduced to less than $14.50. Kevin O’Leary’s skepticism puts a damper on their celebration. David becomes very emotional and passionate about his product after he repeatedly refers to the Kitchen Safe as a piece of garbage.
Lori interrupts Kevin by offering to make a deal. Kevin declares that he is no longer in the game. David continues, visibly moved, to explain why this product is important to him. Daymond immediately responds with a $100,000 offer in exchange for a 20% stake in the business. Lori inquires as to why David values the product so highly.
David becomes emotional once more as he discusses his weight increase and struggles with temptations. Ryan’s reaction to David’s emotional outburst touches Lori, and the sharks agree that this is a very strong business alliance. Lori accepts Daymond’s $100,000 offer in exchange for a 20% stake in the company, but she has one stipulation.
She prefers that the team and their goods be shown on QVC rather than HSN. In an attempt to persuade David and Ryan to accept his offer, Daymond reminds them of his arrangement with HSN.
When guest shark and GoPro co-founder Nick Woodman decides to make his own offer, things get even more intriguing. Lori and Nick agree to work together on an offer, but only for a third of the company, with Lori’s participation in QVC as a stipulation. Lori and Nick agree to give $100,000 for a 20% stake in the company, matching Daymond’s bid, after considerable disagreement among the sharks. Both Nick and Lori express their faith in the product as well as David and Ryan.
After a brief conversation, Ryan and David decide to accept Lori and Nick’s offer. Lori and Nick, obviously overjoyed, run forward to embrace their new business partners, and Nick captures the occasion beautifully on his GoPro.