![]() ![]() He earned a fortune by mailing potatoes with messages or faces on them. The founder of the unique Potato Parcel company is Alex Craig, who hails from Dallas, Texas. You can even customize your potato with your photo! Company Name Not bad for a company that initially started because one of the founders stumbled across a Reddit post, right?įor more Shark Tank Season 8 Episode 6 company updates, be sure to check the links below:įor more on Shark Tank Season 8, be sure to check out our Season 8 Products page.According to Potato Parcel, those who receive a messenger potato in the mail will be overwhelmed and amused. If you’d like to send someone a potato, you can do so through the official website. Fast forward to 2021 and Potato Parcel is now worth an estimated $1 million with the company having already sent over 70,000 parcels and making over $700,000 in revenue since airing on Shark Tank. Then, in 2018, a Potato Parcel update from CNBC revealed that Bekhit was already bringing in a 6-figure salary. This was later revealed to have been a publicity stunt by Potato Parcel themselves. In fact, in early 2017, Potato Parcel went viral after NBA player and Dallas Mavericks legend, Dirk Nowitzki, shared on social media that he received a lot of anonymous potatoes congratulating him for reaching the 30,000 career point milestone. Soon after airing on Shark Tank, Potato Parcel blew up. This now brings us to our Potato Parcel update, in which we can safely say that Kevin is one happy shark. After some thought, Alex and Riad accepted Kevin’s offer. On the other hand, Kevin was more than happy to offer the entrepreneurs exactly what they asked for, $50,000 for 10% equity in addition to a $1 royalty until $150,000 was paid back. This left Robert Herjavec, who thought that the valuation was too high, and Kevin O’Leary, who isn’t a stranger to weird investments, having had done so before with the wildly successful Illumibowl.ĭespite his reservations, Robert offered $50,000 for 25% equity. Both Lori Greiner and Daymond John thought that Potato Parcel was more of a gag company while Mark Cuban, although not thinking that the idea was completely crazy, went out anyway. This came out to an average of $10,000 in sales per month since Potato Parcel first launched in May 2015.ĭespite being impressed with the numbers, most of the sharks backed out pretty quickly. Naturally, the focus of the sharks wasn’t on the valuation as much as it was on the potato puns and the novelty that someone was trying to pitch them a product that you never would have thought of in a million years.Īs the pitch went on, however, the sharks started taking the Potato Parcel founders more seriously when they revealed that they’d sent over 12,000 messages and already made $215,000 in sales. Result: $50,000 for 10% equity and $1 royalty until $150,000 is paid backĮntering the Shark Tank, Potato Parcel founders Alex Craig and Riad Bekhit valued their company at $500,000.Business: Customized messages written on a potato.Entrepreneur: Alex Craig and Riad Bekhit.Here’s a recap of the pitch and Potato Parcel update! Shark Tank Potato Parcel Update After pitching the sharks and asking for $50,000 in exchange for 10% equity, Alex and Riad would walk away with exactly what they’d ask for from no other than Mr. The brainchild of Alex Craig, which he eventually sold to Riad Bekhit, Potato Parcel is a business built on delivering customized messages written on potatoes to anyone everywhere in the world. Shark Tank Season 8 Episode 6 ended things on a high note with arguably one of the funniest products pitched to date, Potato Parcel. ![]()
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