Millions of people are struggling to get rid of bad habits like drinking, smoking, eating too much chocolate, and others. Maneesh Sethi, the founder of Pavlok was no different.
He came up with a tool that helps people break their bad habits. It uses a traditional method of conditioning that warns the user when they try to alter their behavior.
Sethi pitched the product on season seven of Shark Tank. Unfortunately, he couldn’t get a deal from any of the sharks. The estimated net worth of the company in 2023 is around $2 million. To know more, you will have to read the post below.
Establishing Pavlok
Sethi was heavily addicted to social media. This sparked the idea of Pavlok in his mind. He wanted to get rid of his bad habits, so he hired a person to slap him every time he used social media. Although it sounds unusual, the method worked for him.
He invented Pavlok in 2013. The device looks like a wristwatch that creates shock when the user tries to change their behavior. Users can adjust the shock level and set up the habit they want to break in the device’s app.
The next year he launched his company after receiving an investment from an IndieGoGo campaign. He made sales of $800,000 in a short time.
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Shark Tank Pitch
In 2015, Sethi decided to take Pavlok on Shark Tank. He appeared in the seventh season of the show, where he proposed a deal of 3.14% equity for $500,000. Sadly, his pitch went very bad and he failed to impress any of the sharks.
Sethi didn’t have any technical knowledge to back up his invention. As a result, the sharks were skeptical of the product. The sharks also pointed out that his valuation was too high.
Despite all the issues, Kevin O’Leary offered him a counter deal, but Sethi declined the proposal. He left the show without any deal.
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After Shark Tank Pitch
Even though Sethi failed to get a deal on Shark Tank, his product attracted a lot of views. His controversy on the show made his company famous. Later he raised funds from two top investors MassChallenge and IncWell.
He used the funds to design more digital products. The company added a new product called Shock Clock. They also launched a Chrome extension that helps boost productivity.
Pavlok is doing good business and the current net worth of the company is around $2 million. The sales and revenue are increasing steadily, and it is expected to increase more in the future.
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About the Founder
Maneesh Sethi is a resident of Miami, Florida, who was always very passionate about establishing his own business. At the young age of 16, he published a book titled, Game Programming for Teens.
Sethi completed his graduation from Stanford University. He has a degree in computer science. He became the editor-in-chief of a blog right after his graduation. He also tried his hands on web designing.
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FAQs
1. Has Pavlok been successful?
Ever since their episode on Shark Tank, Pavlok has managed to onboard over 100,000 satisfied customers to their platform, who are all set to transform their lives for the better. The main objective of this platform is to help its customers break bad habits and reinstate a healthier life that they have always envisioned for themselves.
2. Is Pavlok successful after Shark Tank?
During their appearance on Shark Tank, Pavlok was already a pretty successful company, bringing over $1.6 million in sales and valuation. Following the airing of the episode, the brand has further propelled its valuation to $2 million.
3. What is the revenue of Pavlok?
Although not much information is available about Pavlok’s official breakdown of its revenue, it is believed that they are thriving. There are estimates that their revenue could very well hit the $5 million mark annually soon. But these are speculations at this point, so there is no way to confirm.
4. How much did Pavlok pitch for on Shark Tank?
Pavlok appeared in the seventh season of Shark Tank USA. During their pitch, the company asked for $500,000 for 3.14% equity. He got a counter deal from Kevin O’Leary, which Shetty denied on the spot.
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