Friday, May 24, 2024

Kitchen Safe 2024 Update – What Happened After Shark Tank

Kitchen Safe Before Shark Tank

David Krippendorf and Ryan Tseng of San Francisco, California came up with what they describe as a revolutionary habit-changing device known as the Kitchen Safe. David discovered that he needed something to curb the sugar cravings and help him develop some willpower when he found himself reaching for that jar of cookies or sweet treats far too often. His wife would hide the junk food in their house but David would always find it; so Kitchen Safe was created. Kitchen Safe is a container with a built in time lock in the lid which allows one to set a timer thus not having access to whatever is inside until the timer goes off. The Kitchen Safe can be locked for as short as one minute up to as long as ten days.

Kitchen Safe - the revolutionary time-locking container
Kitchen Safe – the revolutionary time-locking container

The initial use for the Kitchen Safe was for storing sweat treats and exercising willpower over oneself over a particular period. However, once David and Ryan developed the product, they realized it could be used for so much more. It can be used to store remote controls for television or game consoles thus being useful for parents too. One unique aspect about this product is there is absolutely no way to override the lock until the timer reaches zero. This means the only option to get to what you have locked away is to break the kitchen safe – an expensive way to get your sweet treat fix!

The Kitchen Safe seemed to be making its mark on the market however David and Ryan decided it was time to venture into the Shark Tank. They were not just looking for some additional financial help but for the invaluable entrepreneurial skills the sharks could bring to their business.

Inside the Shark Tank with Kitchen Safe

When David and Ryan entered the shark tank after Ryan had introduced himself David enthusiastically began to explain the product. His exuberant manner instantly caught the sharks’ attention as he explained what their product was all about. David went on to explain that himself and Ryan were seeking $100,000 for a 5% equity stake in their company, Kitchen Safe. David got the sharks laughing when he began speaking about temptations and how they were ‘everywhere’. But behind the enthusiastic façade was a serious point; that two thirds of the population were overweight and a device like this could help curb cravings because what’s inside the Kitchen Safe is simply not available until the timer counts down.

Ryan goes on to explain this revolutionary device describing David as a ‘serial midnight muncher’. David aptly conveys this trait by munching on a cookie, which once again gets the sharks laughing. The duo further impresses the sharks given the amount of research they have put into what seems such a simple device. Studies have been done and psychologists have described the Kitchen Safe as a ‘commitment device’ and is scientifically proven to fight temptations.

When Mark asks about there being no overrides on the device, David explains that when he was younger he used to nag his parents until they gave in to his demands. With the Kitchen Safe however, it is almost like a learning tool that teaches children there is no getting in to the sweet treats until the time is up.

David & Ryan were enthusiastic and passionate about Kitchen Safe throughout the pitch
David & Ryan were enthusiastic and passionate about Kitchen Safe throughout the pitch

Kevin gets into figures with the duo and they explain how they have sold $300,000 in 11 months. 90% of the sales have come from their online website. Ryan then explains they have a purchase order with HSN. At this point Lori shows some interest and asks what it costs to produce and what the product retails at. The sharks show their surprise at the expensive retail price of $49 and ponder if they could get the price of manufacturing lower than $14.50. Kevin O’Leary somewhat rains on their parade with his skepticism. He refers to the Kitchen Safe repeatedly as a piece of crap resulting in David becoming very emotional and passionate about his product.

Lori interrupts Kevin by saying she will make an offer. Kevin has his final word declaring he is out. David goes on emotionally and explains this product matters to him personally. Daymond instantly responds with an offer of $100,000 for a 20% equity share in the company. Lori asks David if he could explain why the product means so much to him. David once again gets emotional about being overweight and struggling with temptations himself. Lori is touched by Ryan’s emotion to David’s emotional outburst and the sharks agree that this is a truly strong business partnership. Lori matches Daymond’s offer of $100,000 for a 20% equity share in the company but she also has one contingency. She would like the duo and their product to be on QVC instead of HSN. Daymond responds reminding David and Ryan of his deal with HSN in an attempt to sway them towards his offer.

Things get even more interesting when guest shark and GoPro creator Nick Woodman decides to make an offer of his own. Lori and Nick agree to partner on an offer but for 30% of the business with Lori’s contingency of doing QVC. After some discussion between the sharks, Lori and Nick agree to offer $100,000 for 20% of the company to match Daymond’s offer. Nick and Lori both state that they believe in the product and in both David and Ryan.

After a short period of discussion among themselves, Ryan announces that he and David would like to take Lori and Nick’s offer. Lori and Nick, clearly delighted rush forward to embrace their new business partners and Nick quite aptly captures the moment on his GoPro.

Kitchen Safe Now in 2024 – The After Shark Tank Update

The entrepreneurs received a $100,000 deal from Nick and Lori, which was finalized shortly after the segment aired. But that’s not the only thing that they walked away with. They also received a piece of advice from one of the sharks—one that led them to change the name of their product from “Kitchen Safe” to “Ksafe.”

If anything, that has only brought them more success; it has changed the way that people perceive the product. Rather than being a container for just snacks, it can also be used for things like credit cards, alcohol, cigarettes, and even smartphones—anything that people might want to cut back from using.

This led them to release a miniature version of the container, which is designed for phones and other electronics. In fact, half of all their current customers now use the product for something other than food. This proves that they made the right choice in changing the name.

By 2018, four years after their Shark Tank appearance, they had sold more than $2 million in kSafes. They’ve also been featured on USA Today, Time Magazine, Good Morning America, Telemund, and NBC.

As of 2024, the company is still up and running. Currently, they offer the Ksafe in three different sizes: mini, medium, and XL.

The Mini Ksafe (measures 2.0” by 5.5”) is the most portable and is designed for small items such as cash, cigarettes, keys, credit cards, and phones up to 5.5” (e.g. iPhone XS, Samsung S10). Its compact size also means that you can easily put it in your bag or in a desk drawer. Available for $59.

The Medium KSafe (measures 5.5” by 5.5”) is their most popular size and is great for things such as cookies, candy, pills, cellphones, credit cards, and phones larger than 5.8” (e.g. iPhone XS Max, Galaxy S10+). Available for $59.

As for the XL KSafe  (measures 10.4” by 5.5”), it’s 80% larger than a medium and is ideal for larger items such as computer games, chips, liquor, and power cords. It can also fit standard tablets up to 10.4” tall. Available for $69.

ksafe
You can choose between five different colors for your Ksafe Container

It’s worth mentioning, however, that they all use the same lid (there are five colors to choose from—blue, light green, pink, white, and red).

If you want, you can also order extra bases from their official website. For example, you can get a Mini Clear Base or a Medium Clear Base for $19. There’s also an XL Clear Base for $24. White versions are also available for the same price.

ksafe extra base
Extra bases for the time-locking containers can be purchased from their website

In terms of shipping, they offer two options for those in the United States. There’s Standard and Expedited, the former of which is a little cheaper (the exact amount will be calculated during the checkout process. They also offer discounts from time to time. For example, there’s a 10% off coupon at the time of this writing.

Katie Lally
Katie Lally
After travelling all over Asia, I have just returned back home to Ireland. I've been writing for the past two years. I'm a big animal lover, a complete foodie and a Muay Thai newbie.
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1 COMMENT

  1. Katie I know you feel like no one has read this, but thankyou. I really enjoyed the narration like it was a movie.

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