Lit Handlers Shark Tank Update

Lit Handlers Shark Tank Pitch

Destiny Padgett appeared on Shark Tank Season 12, Episode 25, which aired on May 21, 2021, with fun beverage coolers with a pocketed handle.

Lit Handlers is listed in the Accessories Gadgets category. In plain terms, the business is described as fun beverage coolers with a pocketed handle.

Lit Handlers asked the Sharks for $200,000 for 10%, implying a valuation of about $2 million.

On the show, Lit Handlers made a listed deal with Daymond John for $200,000 for 20%.

If treated as straight equity, the listed deal works out to about $1 million implied valuation, down from the original $2 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Lit Handlers After Shark Tank

Lit Handlers accepted an on-air Shark Tank deal for $200,000 for 20%. Later reporting says the deal closed after filming. (Lit Handlers Shark Tank Update

Lit Handlers was reported at about $1.2 million in annual revenue. (Lit Handlers Shark Tank Update

The deal closed with Daymond as of July 2021, and there is a Facebook post of the Lit Handlers team "celebrating our deal." As of August 2022, the founder hasn't done any licensing deals, but the founder added 18+ "explicit" handlers. (Lit Handlers Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches