Shark Tank Season 16 aired back in 2018 on ABC. This reality TV show brings various entrepreneurs to gain some investment from the 'sharks' in exchange for equity in their companies.
Episode 9 of this season featured a unique product that solved an issue not many even thought about. The brand is called iCup, iPlate, and iFork. The purpose of these products was 1) to prevent the utensils from touching any surface and 2) to hold multiple utensils together. The product solved these issues with its unique design and mechanism.
This episode featured Barbara Corcoran, Rohan Oza, Lori Greiner, Mark Cuban, and Robert Herjavec, who were presented with a pitch and an ask. Although the founder of the company did get a deal, the big question is what happened to iFork after?
Shark Tank Season 16 Episode 9 - iFork Deal
Kyle Donovan, a 46-year-old entrepreneur from Brooklyn, entered Shark Tank Season 9 with his line of utensils and partyware. However, what made his line of flatware different from the ones available in the market was their design and mechanism.
These utensils had a small ball attached to the bottom, which made them 'hover' over a table rather than touching the dirty surface. In addition, the plates also had an interlocking mechanism so that a person could carry his plate and cup all in one hand.
When Kyle pitched his idea to the sharks and asked for $100,000 in exchange for 5% equity, most sharks decided not to invest in the business.
Mark Cuban didn't like the packaging, Lori Greiner found it hard to market, guest shark Rohan Oza said he wasn't interested in this business, and Robert told the entrepreneur that Barbara was the best partner, and he went out too.
Barbara showed interest and offered a counter-deal of 20% equity. They shook hands at $100,000 for 15% of the company. They also agreed to change the design of the plates and packaging of the product.
iFork From Shark Tank Update
Reports reveal that the deal between Ryan and Barbara didn't go through. Although iFork's products are still available on their website, their socials haven't been active since 2018.
Kyle's LinkedIn mentions that the business is still operational. However, it is not mentioned as an owner of the company. His LinkedIn mentions his new venture, which he started in 2019, called 'Incubator.' It is a social networking platform.
In March 2023, the iFork website was revamped, and a new kit of stainless tell line of utensils was introduced to customers. Its revenue is reported to be around $93,000.
Trending
Shark Tank Season 9 product iFork is in business but its socials have been inactive since 2018.
Reply
