XTorch Net Worth in 2023: The Famous Shark Tank Flashlight

XTorch made running a flashlight without battery cells possible. It’s a multi-functional solar light torch featuring one flashlight, two side lanterns, and two front lanterns. Plus, it can charge your cell phone with a USB.

This amazing invention was designed to eradicate darkness from the world. Those who have watched season 12 of Shark Tank are already familiar with XTorch. After Shark Tank, the estimated net worth of the company in 2023 is $1 million.

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Shark Tank Pitch

Gene and his wife appeared on the twelfth season of Shark Tank with the proposal of 10% equity in their company for an exchange of $150,000. The couple needed the investment to increase customer sales without the help of third-party retailers.

The sharks soon found out that Xtorch was not a patented product. They were also not impressed by the company’s sales history. Due to these reasons, they opted out of the investment.

Robert Herjavec offered $500,000 in exchange for 100% equity. But the couple was not ready so they had to leave without a deal.

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After Shark Tank

After the airing of the episode, XTorch received over 2000 orders, boosting their sales to up to 350%.

At present, there’s a high demand for XTorch. Plus, it has very high ratings on Amazon.

As per sources, 25% of the company’s profit is donated to charities. The business has grown considerably after Shark Tank. The company’s current value is $1 million, and it is expected to increase more in the future. XTorch is also planning to double its sales by the end of 2024.

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About Founders

XTorch solar flashlight is the invention of Gene Palusky. He comes from Edina, Minnesota, and has a degree in fine arts. He completed his master’s degree from the University of Wisconsin.

For 15 years, he worked as a sculptor, but that didn’t generate enough money for him. In the hopes of changing his career, he entered real estate and started renovating old properties.

Palusky met his wife Keidy in the Dominican Republic. Together, they invented the extraordinary XTorch flashlight.

When visiting African countries, they came across many communities that lived in the dark. They were touched by the condition of children who had to study in the dark. After Keidy got malaria from being in the dark, they decided to do something about the situation.

XTorch flashlight was invented in 2015. Aside from shading light, it also serves as a cell phone charger.

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FAQs

1. What happened to the Xtorch Company?

Many brands that appear on Shark Tank tend to disappear after the show. While there’s not much news about Xtorch Company, we can pretty much confirm from their sales reports that the brand is doing pretty well concerning their average sales. They are in profit and their founders are vehemently into Philanthropy too.

2. Did Xtorch sell Shark Tank?

When Xtorch pitched their company to the sharks with hopes that they’d be able to make a good deal out of the experience, the sharks declined to invest in their idea. However, Robert Herjavec wanted to buy the entire company for $500,000. The owners of Xtorch counteracted with a price of $1 million, which Robert declined.

3. Is Xtorch still in business?

With sharks not investing in the business and with the brand not being in the limelight a lot, many people have this misconception that Xtorch isn’t in business. That isn’t true at all because the brand is making profits on its average sales.

4. Is Xtorch still profitable?

Xtorch is working pretty well with its profitability, especially when it comes to the average sales of the company. The founders are also reportedly donating around 25% of their profits to charity.

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