What Happened to SafeGrabs After Shark Tank?
What is SafeGrabs?
SafeGrabs is BPA-free and may be used in the microwave as well as around the house. Safe Grabs’ round form fits perfectly on your microwave turntable and allows you to firmly grip hot dishes without burning your fingertips.
SafeGrabs were designed by Cyndi Lee of Houston, Texas, because she was too slow as a child to pick up hot plates from the microwave with a towel.
She eventually devised a flexible silicone disk that could be used as a trivet, a splatter guard, a pot cover, and even to open jars after continuing to burn her fingers into adulthood.
Who is the founder of SafeGrabs?
SafeGrabs was founded by Cyndi Lee of Houston, Texas, because she was too sluggish as a child to use a towel to pick up hot plates from the microwave.
SafeGrabs is an all-in-one microwave oven mitt, place mat, trivet, potholder, jar opener, utensil rest, splatter screen, and food cover.
Cyndi originally called her invention the Micro Easy Grab, but she changed the name to reflect its larger application as a product.
In 2015, Cyndi won a QVC contest and sold out her presentation. She gave such an outstanding performance that QVC invited her back.
She appeared on Steve Harvey’s show earlier this year as part of his Passion Project segment. She also won that competition and got $5000 to help her develop her concept further.
On Amazon, it costs between $12 and $15. Cyndi wants to take her business beyond online sales and into Target, Wal-Mart, and other big-box stores.
What Happened to SafeGrabs’ pitch on Shark Tank?
Cyndi Lee opted to bring in a Shark in episode 5 of Season 8 to invest in her business in order to help her get a buy order at these sorts of establishments; she needs money to make merchandise. She’ll almost certainly need the help of a Shark for purchase order financing.
Cyndi entered the Shark Tank pitch seeking $75,000 in exchange for a 12% stake in her firm, which valued at $625,000.
She had generated over $300,000 in sales over the course of three years, primarily through Amazon and other mom-and-pop retailers.
“It’s a product, not a company,” Mark says after her presentation. He went out. Barbara maintains she just uses a towel. She exits.
Kevin feels that explaining and demonstrating was too time-consuming, so he exits. Robert feels she did a good job, but it isn’t for him, so he exits as well.
Lori likes it and offers $75,000 in return for a 30% stake in the company. Cyndi responds with $75,000 in return for 17.5% equity.
Lori increases her offer to 25% equity shares, but when Cyndi responds with 20% equity shares in the firm, Lori declines. Cyndi accepts the pitch and signs a contract.
What Happened to SafeGrabs After Shark Tank?
SafeGrabs SOLD OUT on QVC the day after Shark Tank aired, after the closure of the deal with Lori during the pitch. There is an update segment in Season 9, Episode 825.
The update section highlights the company’s development. Cyndi’s annual sales are $2.4 million. Her product line has grown to include pinch mitts.
The company is still in business as of December 2021, with annual revenue of $4 million.
SafeGrabs’s Net Worth
During the pitch, the firm was valued at $625,000; following Lori Greiner’s investment, the company was valued at $300,000. Since then, the firm has done well in sales, with annual revenue of $4 million expected in 2021.
What is the purpose of SafeGrabs?
SafeGrabs is designed to be a problem solver for everybody in the kitchen. The product’s design and functionality have been inspired by the many problems consumers have faced while making use of other similar products.
SafeGrabs has been created to adapt to all kitchenware. So, it can be used in any way people want, which includes using it as a pot cover, a place mat, potholder and a trivet.
What distinguishes SafeGrabs from other similar products?
SafeGrabs’ way of differentiation is that the product is made of 100% silicone. It has a unique design and its functionality is far superior to any other similar kitchenware.
The product’s design allows it to be compact and foldable, which makes it easy to store. Also, the round form fits perfectly on the turntable of a microwave, which means users can place their food right on it without worrying about burns.
How much is SafeGrabs?
The price of SafeGrabs is $12.99, which comes to around $9.5 after shipping. The price is quite affordable considering the fact the product can be used in multiple ways. Plus, it is entirely non-toxic, free from any BPA and has a diameter of 7 inches and a thickness of 0.4 inches.
Is there a discount when I buy SafeGrabs in bulk?
If customers want to make use of SafeGrabs for their food needs, then the best way to ensure they get the most out of it is by purchasing several of them at once.
The company offers price breaks for these kinds of purchases. So, if they want to buy 2 or more SafeGrabs, then they can avail discounts and save up to $10 even on their first purchase.
Can I use SafeGrabs as a splatter screen?
Yes, customers can use SafeGrabs as a splatter screen. It can be used without any safety concerns, since it is made up of 100% silicone. The product’s design makes it more resistant to cracking and breaking down than other kitchenware.
In addition to this, the silicone material is waterproof, which means they can use it whenever they make use of a microwave. This includes on camping trips or when traveling on road trips via car or van.
Can you use SafeGrabs as a cutting board?
Overall, the product’s design is suitable for any kitchenware purpose. So, customers can use it for any purpose. However, since the product is not dishwasher safe, it is advised that they hand wash the SafeGrabs or put it in a dishwasher.
How long does the product last?
It is expected that the product will last for at least three years.
Can you use it for hot and cold food?
The SafeGrabs is designed for hot and cold food. Therefore, customers can use the product in any way that makes sense to them. Since it is non-toxic, BPA free and dishwasher safe, it is completely safe to use with any foods.
Why do I need to wash the product?
The product is not dishwasher safe since it contains a silicone material. Therefore, one will have to wash the product before using it again.
Can I use SafeGrabs for raw foods?
The product is safe and suitable for all kinds of food. So, it can be used on any foods that they will be preparing in the kitchen. However, it is essential that you wash the product before using it again with raw foods, since it is not dishwasher safe.
Can I put the product in a freezer?
Since the SafeGrabs is not dishwasher safe, one will have to hand washed the SafeGrabs before putting it back in their freezer.
Can I put it in the microwave?
The product is not dishwasher safe and cannot stand up to high temperature. Therefore, users cannot put it in the microwave.
Can I place a hot pot on it?
The product is not designed for hot pots. So, it is not safe to place a hot pot on it. Furthermore, there are many other products that are specifically designed for this purpose. So, people might consider using those products for the same purpose instead of SafeGrabs.