Many of us have been using caffeine and sugar to boost our mental focus. To change this habit, Allyson and Ken Davidov invented a device that is capable of giving the same results without using any chemical stimulants. It is a kind of neuro-stimulation headgear that is designed to boost brain performance.
The company is called Liftid, and it appeared in the twelfth season of Shark Tank. Unfortunately, their product wasn’t impressive enough to get a deal.
Many of you must be wondering what happened to the company after its Shark Tank appearance. We will find that out in the post below.
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Shark Tank Pitch
To take Liftid to the next level, Allyson and Ken came to Shark Tank. They wanted to reach their product to a larger audience. The two were featured in the twelfth season of the show. They presented an offer of 10% equity in their company for an exchange of $200,000.
The duo made a strong presentation that piqued the interest of the investors. Despite a good pitch, they failed to secure a deal. Things got worse because Ken was not willing to stop talking.
For some reason, none of the investors on the show wanted to invest in the product. If they had scientific backing, maybe the product has done well on the show.
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After Shark Tank Episode
While Ken and Allyson failed to impress the sharks, the device received massive publicity. After the airing of the episode, they started receiving big orders. There was a sharp rise in sales, which convinced the couple duo to sell their product on Amazon. This helped them reach a bigger customer base.
At present, the Liftid device is available on the official website and on Amazon. It has received a rating of 3.6 out of 5 from over 200 buyers. As per records, the product has received 43% five stars. The negative reviews mainly highlighted the battery issue of the product.
The company generates annual revenue of $5 million. As of 2023, the estimated net worth of Liftid is $20 million. For now, they haven’t added any new products or disclosed their latest sales figures. The publicity from Shark Tank helped the company to become successful.
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About the Founders
Both Allyson and Ken Davidov hail from New York. Ken has a degree in marketing from Tulane University. In 1987, he was appointed as the COO of a company called Coda International.
Liftid is not the first company founded by Ken. Before that, he established a company called Global Iconics in 2008. In 2020, he founded another start-up called Taste Boosters.
The neuro-stimulation headgear was created by Dr. Theodore Schwartz. Despite that Ken and Allyson pitched the device on Shark Tank. They combined their marketing skills to sell the device to the public.
Liftid was founded in 2018 under RPW Technology. Initially, the product received positive feedback and reviews. In two years, they sold over 1240 pieces which resulted in $126,000 in sales.
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FAQs
1. Is LIFTiD still in business?
Following their episode airing, LIFTiD managed to make pretty great numbers in sales. They sold a lot of units after their episode aired on Shark Tank but that was not all. The brand has somehow managed to maintain its sales over the years. The brand has a $25 million valuation and an annual turnover of $6 million.
2. Did Liftid Get a Deal on Shark Tank?
After listening to Alyson’s pitch about the company asking $200,000 for a 10% valuation, almost all the sharks backed out. This was primarily due to the different reasons and personal beliefs of each of the sharks. Mark Cuban backed out saying that they tried to sell science without using science.
3. Where Can You Buy Liftid?
If you are considering buying Liftid for personal use, their products are available on their official website, which is https://getliftid.com/. You can check out their portfolio of products and consider buying the one that best catches your interest.
4. Is Liftid‘s Still In Business?
Liftid is currently still in business and running in profit, which is one of the most common questions that people had. With around $25 million in net worth and valuation as of 2022, it looks pretty good for the brand.
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