SafeGrabs Shark Tank Update

SafeGrabs Shark Tank Pitch

Cyndi Lee appeared on Shark Tank Season 8, Episode 5, which aired on October 21, 2016, with multi-functional silicone kitchen accessory.

SafeGrabs is listed in the Lifestyle Home category. In plain terms, the business is described as multi-functional silicone kitchen accessory.

SafeGrabs asked the Sharks for $75,000 for 12%, implying a valuation of about $625,000.

On the show, SafeGrabs made a listed deal with Lori Greiner for $75,000 for 25%.

If treated as straight equity, the listed deal works out to about $300,000 implied valuation, down from the original $625,000 implied valuation.

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

SafeGrabs After Shark Tank

SafeGrabs accepted an on-air Shark Tank deal for $75,000 for 25%. The company is still operating after its Shark Tank appearance. (Safe Grabs Shark Tank Update

SafeGrabs reported sales of $2.4 million. (Safe Grabs Shark Tank Update

After doing the deal with Lori, Safe Grabs SOLD OUT on QVC the day after Shark Tank aired. (Safe Grabs Shark Tank Update

She also added pinch mits to her line. (Safe Grabs Shark Tank Update

There is an update segment in episode 825 in season 9. (Safe Grabs Shark Tank Update

The official website for SafeGrabs is listed as safegrabs.com. (SafeGrabs website

Sources

Sources used for this page: Shark Tank API pitches