XTorch Valuation Slumps after Declining Shark Tank Offer

XTorch is a solar-powered flashlight, that is currently sold in the United States and in over 40 countries.

XTorch has a net worth of $200,000. As per the latest Update, the annual sales revenue of XTorch is $90,000. It appeared on Season 12 of Shark Tank.

The Founders have rejected Robert’s deal to buy out the entire company for $500,000, which they will regret now.

Revenues

When XTorch was pitched on Shark Tank, the company was making annual sales of $125,000.

Within two months after the episode, they have sold over $60,000 worth of products. However, the revenues have dwindled since then.

As COVID hit, XTorch temporarily halted its sales due to a shortage of silicon chips across the world.

After the lockdown, the sales did not pick up, and the company ran out of money to run marketing Ads. As of today, XTorch’s annual revenues are at just $90,000.

Shark Tank Aftermath

XTorch valued itself at $1.5 million during the Shark Tank pitch. Robert offered to buy the company at $500k and it was rejected by its founders.

The company’s net worth has gradually gone down since then. The decision to reject Robert’s offer will haunt the founders for the rest of their lives.

Many experts believe that they should have accepted Robert’s deal by bargaining for a royalty component.

Since airing on Shark Tank, XTorch’s valuation has dropped by over 60% and is expected to fall further.

With many knockoffs available on the market at a much cheaper price, XTorch is on the verge of its doom.

FAQs