Tenikle, the innovative suction tripod and mount that took the Shark Tank by storm, has been making waves in the tech accessory industry. Founded by Hans Dose, this versatile product has captured the attention of consumers and investors alike. In this blog post, we’ll dive into Tenikle’s journey, from its humble beginnings to its current success, and explore the company’s net worth.
Who is Tenikle?
Tenikle is a multi-purpose suction tripod and mount designed to hold smartphones, cameras, and other devices securely in place. Inspired by the agility and adaptability of octopi, Tenikle features flexible arms with suction cups that allow it to attach to various surfaces. This hands-free solution is waterproof, durable, and perfect for content creators and tech enthusiasts.
Who Is The Founder Of Tenikle?
Hans Dose, a product designer from California, is the mastermind behind Tenikle. Frustrated with the lack of versatile and reliable device mounts on the market, Dose set out to create a product that would revolutionize the way people use their tech accessories. With his background in product design and a passion for innovation, Dose brought Tenikle to life.
How Was The Shark Tank Pitch Of Tenikle?
Hans Dose appeared on Season 13 of Shark Tank, seeking $200,000 for a 10% equity stake in Tenikle. Despite facing financial challenges, including $270,000 in debt and depleted marketing funds, Dose impressed the Sharks with his product and honest pitch. While some Sharks were hesitant to invest, Daymond John recognized the potential in Tenikle and offered $200,000 for a 30% equity stake, which Dose ultimately accepted.
| Entrepreneur | Hans Dose |
|---|---|
| Business | Suction tripod and mount (Tenikle) |
| Ask | $200,000 for 10% equity |
| Deal | $200,000 for 30% equity with Daymond John |
| Other Offers | Robert Herjavec: $270,000 to pay debt + $100,000 for 60% equity, declined |
| Mark Cuban, Lori Greiner, Kevin O’Leary: No offers |
Tenikle Shark Tank Update:
Since appearing on Shark Tank, Tenikle has experienced incredible growth. The company sold out within 5 minutes of the episode airing and earned the #1 ranking in its category on Amazon. In the six weeks following the episode, Tenikle generated $375,000 in revenue. The deal with Daymond John went through, although with slightly different terms, and John has become a valuable partner and advocate for the brand.
What Happened To Tenikle After Shark Tank?
After securing the deal with Daymond John, Tenikle has continued to thrive. The company is on track to hit $5 million in revenue in 2023, despite being out of stock for four months. Daymond John brought on his friend Cody Grandadam, President of Litezall, as a strategic partner to help expand Tenikle’s retail presence. The company has also introduced new products, like the Tenikle 360, which offers even greater flexibility and range of motion.
Tenikle Net Worth:
As of 2023, Tenikle’s net worth is estimated to be around $15 million. This impressive figure is a testament to the company’s rapid growth, successful Shark Tank appearance, and strong sales performance. With ongoing product innovations and expanding retail partnerships, Tenikle’s net worth is expected to continue rising in the coming years.
Tenikle Growth and Operations:
Tenikle has experienced significant growth since its inception. Before Shark Tank, the company had sold around 40,000 units, amounting to $1.3 million in total sales. The Shark Tank appearance provided a major boost, with Tenikle selling out on Amazon and generating substantial revenue in the following weeks. The company has also streamlined its manufacturing processes, reducing costs and improving efficiency.
| Product Details | Market Response |
|---|---|
| Features | Versatile suction mount/tripod for smartphones, cameras, etc. |
| Waterproof, durable, multi-functional | |
| Market Position | Ranked #1 in sales category on Amazon post-Shark Tank |
| New Product | Tenikle 360: Added swivel arm for 360-degree movement |
Tenikle Marketing and Sales:
Tenikle’s marketing strategy has been focused on showcasing the product’s versatility and usefulness for content creators and tech enthusiasts. The company has leveraged social media platforms, influencer partnerships, and user-generated content to spread brand awareness. Tenikle products are available on the company’s website and through major retailers like Amazon, with plans to expand its retail presence through strategic partnerships.
| Financial Highlights | Details |
|---|---|
| Debt and Sales | Pre-Shark Tank: $270,000 debt, $1.3 million in total sales |
| Post-Shark Tank: Sold out on Amazon within minutes, $375,000 in revenue within six weeks | |
| Revenue (2023) | $5 million |
| Expansion | New products in the pipeline, expanded retail presence |
Tenikle Social Media Presence:
Tenikle has a strong presence on social media platforms, including Instagram, Facebook, and Twitter. The company shares user-generated content, product demonstrations, and behind-the-scenes glimpses into the brand’s development. Tenikle’s social media accounts have garnered a dedicated following, with fans eagerly engaging with the brand and sharing their own Tenikle experiences.
Tenikle Interesting Facts:
- Tenikle’s name is a combination of “tentacle” and “nickel,” as the product was originally designed to hold a GoPro camera, which is roughly the size of a nickel.
- Hans Dose wrote the patent for Tenikle himself, showcasing his dedication and expertise in product design.
- Tenikle has been used in various creative ways, from holding pickle jars to serving as a makeshift baby monitor.
- The company has plans to create an ecosystem of products around the Tenikle platform, expanding its offerings to serve its existing customer base.
What’s next for Tenikle?
Tenikle’s future looks bright, with plans to expand its product line and reach new customers. The company is developing an ecosystem of products that will complement the existing Tenikle platform, providing even more value to its users. Tenikle is also focusing on expanding its retail presence through strategic partnerships and collaborations with industry leaders.
Final Words:
Tenikle’s success story is a testament to the power of innovation, perseverance, and the impact of a Shark Tank appearance. From its humble beginnings to its current multi-million dollar valuation, Tenikle has captured the hearts and minds of consumers and investors alike. As the company continues to grow and evolve, it’s clear that Tenikle is poised for even greater success in the years to come.
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