X-torch Net Worth And Shark Tank Us Pitch

Written by Olivia, In Celeb, Updated On

April 4th, 2024

, 736 Views

Have you ever been in a dire situation and wished you had a powerful flashlight? Sometimes, the sun sets earlier than intended on your camping vacation, or the power goes out, leaving you in an unfamiliar area without light. XTorch is not currently offered on Amazon, so it isn’t easy to calculate its current value. They exclusively provide their goods on the official XTorch website. Two billion people throughout the world now lack access to electricity. The lack of light and vitality burdens people immobile for as much as half the day.

Xtorch Net Worth: Who Is The Person Who Started XTorch?

XTorch was started by Gene and Keidy Palusky. Gene wanted to make XTorch because he saw how hard it was for people in Guinea, where he worked in travel and development. Keidy Palusky, on the other hand, is their secret weapon. The XTorch was made possible because of what she knew. She grew up in the Dominican Republic, so she knows and understands how people live without power and light, which always works. She gives them ideas for design and marketing and helps them keep the company’s mission in mind. Lastly, Bob is their lead engineer. He helped them develop their product many times and was responsible for designing and making it.

Storch Net Worth: Creating The Business Organization

Gene got away from his real estate company with the assistance of Keidy, who encouraged him to embark on an adventure. They proceeded to African countries where many populations could not access modern conveniences such as electricity. They were especially moved by the pupils who studied in the dark during the evening. Keidy’s illness with malaria, which she allegedly contracted from being in the dark, was the final straw that forced the parents to take action. Gene came up with the idea for the XTorch solar lighting in 2015. In addition, he founded EJ Case, the firm currently producing his items and charging customers $60 for each one. In addition to acting as an illumination source, it could charge a backup phone.

X-torch Net Worth: Appearing on Shark Tank

In 2019, this torch made $53,000 in sales but still needed money. Their idea was so good that they asked the Shark Tank for cash in exchange for 10% of the business for $150,000. They meant business and wanted to boost sales directly to end users, cutting out intermediaries. The Sharks were no longer interested in the Xtorch lamp because it didn’t have a patent and hadn’t sold well recently.

On the other hand, Robert Herjavec entered with an offer to purchase the business for $500,000 in cash. Gene then came to take full ownership of the company but was only awarded one million dollars. Afterwards, Gene approached Robert with his request for $750,000, but Robert declined. To reach a consensus, persons engaged in commercial activities were needed.

Gene and Keidy Palusky, Entrepreneurs

Solar-powered flashlights for sale

For 10% equity, please provide $150,000.

Consequence: deadlock

Lack of Sharks

After Appearing On “Shark Tank,” What Happened To XTorch?

Once the show aired, they received 2,000 orders because many people who watched Shark Tank liked their product and its story. Their income increased 350% compared to the last fiscal year. The fact that 4.5% of people on Amazon like their products is a good sign for them. Still, many people think the Paluskys shouldn’t have taken Robert up on his offer because they believe Gene’s demand was a fair deal for Robert, which he turned down.

Xtorch Net Worth: Current Status?

One company that did not secure a contract in the Shark Tank was XTorch. In addition, our web-based investigations have led us to believe that the firm will eventually use $1,000,000 to stabilize the market. In addition, their charitable efforts brought in new business. Hence, by December of 2023, XTorch has established itself as a thriving enterprise. Since then, it has been available on their website and Amazon. The company’s charitable efforts helped boost its profile over time. They have a 4.5-star rating and many great reviews on Amazon. This means that there is an interest in purchasing their wares.