Knife Aid Shark Tank Update

Knife Aid Shark Tank Update

Although the knife sharpening service was already running worldwide, Mike and Mikael from Sweden found a way to improvise it. They pitched a unique idea on Shark Tank of offering mail-in knife sharpening services, creating a breakthrough in the business! 

Certainly, you’ve seen the Sharks chasing them to get their offers accepted. But what about the latest Knife Aid Shark Tank update? They got a great deal on Shark Tank, unfortunately, it didn’t reach its conclusion. However, the founders got a boost from the mass public and other great platforms as well. This only made them more profitable as the years passed.

But where are they now? Binge on to get an insider look into their success story.

Knife Aid Shark Tank Profile

Before we start, let’s take a look at an overview of Knife Aid’s Shark Tank profile along with its business updates.

Company NameKnife Aid
FoundersMarc Lickfett & Mikael Soderlindh
Founded In2018
ProductProfessional knife sharpening services
Special FeaturesOffers flawless mail-in professional knife sharpening services
Shark Tank AppearanceEpisode 4 of Season 11
Knife Aid Shark Tank Episode Aired InOctober 20, 2019
Investment Asked For$400,000 for a 15% equity
Final Deal$500,000 for 20% equity
SharkRohan Oza & Lori Greiner
Pre-Sale DataAround $120,000
Business StatusRunning
WebsiteKnife Aid
Location28378 Roadside Dr, Agoura Hills, CA 91301, US
Net Worth$2 million
Sales After Shark Tank$6.9 million in a year!
Available OnKnife Aid Website
2023 UpdateSelling products on their website
Watch OnPrime Video
Get the service On Amazon

Knife Aid and Its Owner On Shark Tank

Marc Lickfett & Mikael Soderlindh, both the founders of Knife Aid, came to pitch and ask for their investment on Shark Tank. It happened on Episode 4 of Season 11, which aired on October 20th, 2019.

As soon as they stood on the platform, they started demonstrating how their knife-sharpening service works. Now, one thing to note is that even before coming on the popular show, both founders were already readily successful in their respective businesses. 

Knife Aid and Its Owner On Shark Tank

Soon after their pitch, the founders asked for a $400K investment with 15% equity. Among the sharks, Lori Greiner started the bidding by making an offer of $200K as a line of credit and another $200K as a business investment with 20% equity. 

Since all the sharks considered Knife Aid a brilliant venture, they got into a competitive debate. With offers coming in like confetti, Mike and Mikael went into the hallway to discuss and make a final decision.

However, the sharks just couldn’t wait and joined them in the hallway, where the founders accepted the jointly made offer by Lori and Rohan. Wondering what made Marc and Mikael go for it? 

The lucrative $500K offer with 20% equity, the brand popularity of Rohan Oza, and the proficiency of Lori Greiner in conducting retail business.  

What Happened to Knife Aid After Shark Tank?

Not every day on Shark Tank, you see all four sharks running after company founders. So, those who already knew about Knife Aid boosted the episode’s reach on social media. 

On the other hand, others who didn’t know about the company got curious and started researching Knife Aid after Shark Tank.

What Happened to Knife Aid After Shark Tank

What many don’t know is that the Knife Aid deal with Rohan and Lori wasn’t closed. However, with extensive exposure of the brand being featured on the ‘Greatest Shark Attacks’ special episode, Knife Aid kept making profits as more and more offers started rushing in. 

Knife Aid today has upscaled its services on other online e-commerce sites like Amazon. If you pay a visit to their website, you’ll see the options for sharpening anywhere from 4 to 14 knives. 

For only $59, you can sharpen 4 knives, while only $149 is needed for sharpening 14 knives within the mail-in service. Besides, they even offer a subscription service offering their knife sharpening service for a year. 

Knife Aid Net Worth

Knife Aid Net Worth

Before appearing on Shark Tank, Knife Aid had total sales of about $120K. And as per the owners, even a month before they reached out on Shark Tank, they earned a good profit of almost $37K.

With the sharks chasing the owners for their offer acceptance and final deal with Lori and Rohan, Knife Aid’s value has risen to $2.5 million.

Knife Aid Sales Data

While Knife Aid didn’t publicly release too much about its profits, in the year 2020, the company sure gave some updates on its page. According to the report, they had sharpened over half a million knives with $69 for 5 knives. 

So, with a rough calculation, the estimated total sale of the company would be no less than about $6.5 million! Here’s a rough estimation of yearly sales of Knife Aid collected from several media sources. 

YearSales Data
2019Earned about $120,000 from pre-orders
2020Generated $2.5 million from their services
2022$2 million sales revenue
Lifetime Sales Revenue$6.5 million (est.)

Is Knife Aid Profitable Now?

Since the deal with the Sharks never closed, the founders of Knife Aid, Marc and Mikael, are still in search of partnering with big retail companies. But even without that, their business is increasing every year, with a reported yearly revenue of no less than $2 million. 

However, that was the update till 2021. As of now, the website or the company hasn’t made any official update. Yet from their media appearances, it seems the company is still running well.

Experts assume that in a couple of years, Knife Aid will lead and establish a monopoly in the knife sharpening business.

Is Knife Aid Profitable Now
Explore more remarkable updates from Shark Tank, including Trobo and Measuring Shovel. Delve into the inspiring journeys of these entrepreneurs and how their innovative products have continued to make an impact after their appearances on the show.

Wrapping up!

If you’ve followed our Knife Aid Shark Tank update discussion, you know that Knife Aid was a huge success not only on-air but also off-air as well. With the groundbreaking mail-in service of knife sharpening within such a low budget, this was already a revolutionary idea in this busy world. 

Although the sharks debated over the offers, and finally, a great deal was made, it never really closed. But Knife Aid didn’t seem to be waiting for it either because they made great profits in the next couple of years. Now, it’s time to wait and see how big of a name this company makes.

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