AnyTong net worth around $1 million. It’s like magic for your kitchen tools. You can turn a regular spoon or fork into tongs using this special kitchen gadget, AnyTong. This clever device is the solution to having to buy many tongs and other cutlery. In this article, we are going to learn more on Anytongs net worth 2023, revenue & monthly income.
Anytongs Net Worth
AnyTong is a special kitchen tool made with a strong spring and plastic. You can easily attach it to any spoon or fork. You can buy this tool on Amazon. It costs $12.99 for one or $19.99 for two.
With AnyTong, you can turn regular forks and spoons into tongs. This makes it easy to switch between different tools while cooking. People say it’s very useful and well-made. You can find it on Amazon, and it lets you have two kitchen tools in one.
Anytongs Net Worth in last 5 years
|In 2023||$1 Million|
Who is AnyTongs Founder?
Tog Samphel, the CEO and founder of the company, holds a degree in art and design from Montclair State University. His career began in the field of design because of his lifelong passion for product design.
He worked as a visual designer and creative director at Nintendo of America and played key roles at various other companies such as Sourcebits Incorporations, ADP, Meta, and Loop. In these positions, he served as Head of Product Design, Principal UX Designer, and Product Director, among others.
AnyTongs Shark Tank success story
AnyTongs appeared in Shark Tank Season 14 with a pitch of $150,000 in exchange for 20% of his business, AnyTongs. AnyTongs is a product that turns regular kitchen utensils into tongs. Tog, who has a background in design, showcased how this works and mentioned that his family hails from Tibet, where his mother used a similar method to create tongs.
They ran a Kickstarter campaign with a $10,000 goal and managed to raise $33,000. The cost of making their product is $2, but they sell it for $19.99. Excluding the Kickstarter funds, they made $7,000 in profit since 2020. Their advertising expenses were impressively low, costing just $1 for every $7 in revenue. However, they faced difficulties in keeping products in stock due to challenges caused by COVID-19.
A new and improved version of AnyTongs, called Version 2, was developed in 2021, made from better materials and costing only $1 to produce. During the show, investor Kevin O’Leary expressed doubts about the business’s potential and decided not to invest, which led another investor, Robert Herjavec, to lose interest.
But investor Daymond John saw potential in AnyTongs and offered $150,000 in exchange for a 49% stake in the business, as it was still in the early stages. While Lori Greiner thought this was a good offer, Tog decided to stick with the 49% share, and eventually, he agreed to Daymond’s proposal.
Let me sum the Anytongs Shark Tank event.
|Product||Turns any simple spoon and fork into tongs tools|
|Asked For||$150K for 20% equity|
|Final Deal||$150K for 49% equity|
|Episode (Shark Tank USA)||S14 E13|
|Air Date||Jan 27, 2023|
|Business Status||In Business|
|Headquarters||Clifton, New Jersey, United States|
|Lifetime Worth (Sales)||$1 Million *estimated|
Well, As you know they have already created an online presence and you can also easily find find them on Amazon too. Click here to visit.
To sum it up, Anytongs did a great attempt to revolutionize kitchen appliances, with such a simple yet smart idea. It has achieved a net worth of about $1 million. The kitchen tools market is growing, and AnyTongs is a good choice for your home. They have the support of Daymond John and the Samphel family, which means they are likely to become even more successful in the future.