The Mighty Carver Shark Tank Update

The Mighty Carver Shark Tank Pitch

Lance Burney and Kim Burney appeared on Shark Tank Season 12, Episode 4, which aired on November 5, 2020, with electric food carving knife that sounds like a chainsaw.

The Mighty Carver is listed in the Lifestyle Home category. In plain terms, the business is described as electric food carving knife that sounds like a chainsaw.

The Mighty Carver asked the Sharks for $100,000 for 20%, implying a valuation of about $500,000.

On the show, The Mighty Carver made a listed deal with Daymond John for $100,000 for 25%.

If treated as straight equity, the listed deal works out to about $400,000 implied valuation, down from the original $500,000 implied valuation.

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

The Mighty Carver After Shark Tank

The Mighty Carver accepted an on-air Shark Tank deal for $100,000 for 25%, then kept operating after the episode. (Mighty Carver Shark Tank Update

At this time, the company has sold over $9 million worth of product. (Mighty Carver Shark Tank Update

The first re-run comes only a month and a half after the original air date and the Burneys announced in a press release The Mighty Carver closed the deal. (Mighty Carver Shark Tank Update

The Burneys credit Daymond and his team for helping The Mighty Carver prepare for "The Shark Tank Effect." Daymond's team also works closely with the Burney's marketing team and helps The Mighty Carver with vendor contacts. (Mighty Carver Shark Tank Update

The deal appears to have resulted in a strong working relationship between the Burneys and Daymond. (Mighty Carver Shark Tank Update

The Mighty Carver now uses mightycarver.com as its customer-facing site. (The Mighty Carver website

Sources

Sources used for this page: Shark Tank API pitches