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Life Lift Systems Net Worth 2024: Did the Deal Went Through? 




Life Lift Systems Net Worth

Weather emergencies cause a great deal of harm, especially the demise of priceless souls. Wilson and Todd witnessed these calamities, and they invented Life Lift Systems. Where security and utility cannot be provided individually, this device enters and saves the lives of millions.

Their first cameo on Shark Tank was on episode 13 of season 10. The Sharks were amazed by their craftsmanship and Robert claimed to love the concept.

Will they step forward to support them or take a step back? Follow the article to know!

Quick Facts

Founders name: Levi Wilson,
Tim Todd
Business details: Tornado Shelters
Founded in: 2018
Location : Oklahoma City, USA
Asking of Company: $550,000 for 15% equity
Accepted Deals: $550,000 for 25% equity
Sharks on board (Investors): Mark Cuban
Shark Tank Episode: Season 10 Episode 13
Net Worth: $15 million
Business Status: Active
Last Updated: Mar 19, 2024
Social Media: Twitter

About the Founder 

Living in Oklahoma, Levi Wilson and Tim Todd have become accustomed to natural disasters. They lay out to develop goods designed to rescue human lives as numerous locations in America are constantly at risk from catastrophic temperatures and lack the availability of safety. To create a device that could save the existence of humans, the duo came up with the idea of Life Lift Systems.

Founding the Life Lift Systems

Storm shields called Life Lift Systems are constructed inside residences as everyday furniture like beds or benches. But in a dire situation, this electric device quickly transforms the commonplace object into an emergency shield.

Their signature item is a place to sleep that expands upwards in just 60 seconds to transform into a tornado-resistant protection that can survive storms of 250 mph and an EF5 tornado. However, these protective shelters can serve as a haven in the case of a house attack.

Life Lift Systems

Shark Tank Appearance 

Todd and Wilson requested a $550,000 capital for a 15% share of Life Lift Systems, their ground-breaking invention that saves lives.

Levi and Tim estimated that it would cost roughly $6,000 to build one tornado protection in your residence. They told the sharks they had sold roughly 120 units for $6,000 each. That amounts to approximately $750,000 in profits for the company.

The issue lies in the total expense of producing just one shield for $4,000, leaving the business with insufficient cash flow. The profit margins are inadequate, majority of the sharks immediately concurred.

However, Robert Herjavec was a bit skeptical about their assets, thus he became the first shark to withdraw from the pitch. For identical reasons, Kevin O’Leary also departed.

Mark Cuban was the one who made the initial proposition of $550,000 for 25% stock; however, Lori Greiner appeared enthusiastic and considered submitting a counteroffer. In the end, Lori made the same deal that Mark did, to which he again counter-attacked her.

Levi and Tim briefly debated before deciding to embrace Mark Cuban’s deal for the firm Life Lift Systems.

After Shark Tank 

When the business sealed the agreement with Mark Cuban, Wilson and Todd received wonderful news. In the year 2021, the business changed its name to Vortex Vaults and moved forward. Their revenues are projected to be slightly more than $4 million annually.

The real version of security beds is still out in the market along with other security equipment.

As of the 2022 update, the total projected assets of the company, Life Lift Systems is approximately $15 million.

Tessa is a Senior Writer at Patty360. She has previously worked as a freelance journalist for various news sites in the UK.

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