Liftid Before Shark Tank
People everywhere are looking for a competitive edge in their day-to-day activities. Whether it’s in the office, on the sports pitch, or in an online game, mental performance is not only necessary but also being improved. everyone is also looking for a way to improve it. Caffeine and sugar are two chemicals that increase performance and we chug down huge amounts of them just to stay ahead of the game.
Caffeine and sugar also have the problem of not being utilized completely since they travel throughout the body. Only a small portion is used. However, a new way to improve your focus is developing and it promises to revolutionize the way we think about peak performance.
Transcranial direct current stimulation is a neurostimulation system that stimulates the brain with the use of electrodes. The Liftid is a device that was developed to use TDCS to stimulate the brain. The Liftid device has a mild electric current that passes through two electrodes to stimulate the brain.
Ken Davidov was one of the most successful salesmen in the United States and had worked with many of the leading companies where he had become their best salesman more than once. He thought that the Liftid had the potential to help a lot of people and so he sold the device hoping to boost its popularity.
Although Ken together with Allyson Davidov had sold some of the Liftid devices successfully, they needed some help to get their numbers. They thought that the Shark Tank investors could help and that’s why they applied to be on the show. They were on the 5th episode of season 12. Daniel Lubetzky was also on the episode as a guest shark.
Liftid on Shark Tank
Ken and Allyson Davidov went to the Shark Tank seeking $200,000 for 10% of the Liftid business. This gave the business a value of $2,000,000. The couple started their presentation by showing the sharks the demand that there was for better mental performance. They then showed the sharks how Liftid improved their performance. Every shark was given a Liftid headband when the presentation started so after the explanation of how the device worked, they activated their device together with the sharks so that everyone could experience its effect.
Mark Cuban said that he felt like he was being shocked and Ken said that the therapy felt like that. Ken asked them if they felt a tingling sensation on their foreheads. Kevin said that he felt it in his teeth as well. Daniel Lubetzky said that it stung a little bit. Robert said that he had not felt that same stimulus with coffee or anything. He then asked if the effect was immediate.
Allyson said that when the Liftid was used, you were supposed to do something to get the brain working and focusing on something. That was how an individual could improve their focus. The sharks then started to take off their Liftid bands as they were satisfied with the demonstration. Lori then asked how they knew that nothing could go wrong.
Ken said that TCDS had been backed by over 5,000 studies and it was being used to treat many diseases including Alzheimer’s, Parkinson’s, and Epilepsy. Kevin then asked if there was any evidence that the treatment worked. Lori then asked them what the Liftid specifically did for those with those conditions.
Ken said that the brain had billions of neurons and most of those neurons are dormant. However, when you have a stimulation session such as working on a spreadsheet, neuroplasticity occurs. When neuroplasticity occurs during a certain activity, it means that the next time that activity occurs, the number of neurons that will be active will be higher.
Mark Cuban then told the other sharks that the Liftid came with a warning and he read it out to them. He said that the device should not be used if it did not have any electrical implanted metal devices, metal plates in the brain or the head, a pacemaker, or a defibrillator. The Lifitid should also not be used if you have epilepsy seizures, brain lesions, or severe heart disease.
The instructions also said that the Liftid should not be used if the person had broken skin, sensitive skin, or a rash. It should also not be used if you have open wounds such as sores, cuts, and pimples. The Liftid should also not be used while an individual is driving, drinking, operating machinery, or in any situation where they may be impaired.
The Liftid instructions also said that it had no medical benefit and was not intended to prevent or treat any medical condition. Allyson said that they were not making any medical claims. Mark accepted her point that she was not making any medical claims but he did ask her what the point of the device was if it did not have any medical benefit.
Ken said that it was for cognitive benefit. It was for focus, attention, and memory. Lori said that she had seen the couple’s passion for the product. She wanted to know why they were so passionate about the product and why they decided to do it. Ken said that he always had an eye for product and he was the Hasbro national salesman of the year when he was 23 years old. When Ken was in college, he sold solar hats on the streets of DC.
Ken wanted to continue telling the sharks about his resume but Kevin cut him off saying that he had a question. Ken went on talking which Kevin didn’t like but he said that he had even been to every trade show that there was on the planet and he had sold electronics for over 30 years. Kevin then asked him how much of the product they had sold.
Ken said that they had sold around 1,240 pieces since October. Kevin then asked them how much they sold for. Ken said that their landing cost was $22 and they sold for $149. Kevin asked how much revenue they had generated and he was told that they had generated $126,000.
Lori said that her problem with the product was that it made claims and she had never invested in a product that made claims such as you could lose weight or you could look better. She was determined to always show 100% efficacy. She could not show it with that product and so she left.
Robert said that he thought that Ken was a great salesman. However, that did not justify the horrific presentation that he had given. Robert said that all Ken had done that day is talk and talk and talk. He said that Ken had come very aggressively like a machine gun. According to Robert, Ken was supposed to share information with them but that could not be done by talking over people the way Ken had been doing.
For those reasons stated above, Robert left. Daniel Lubetzky said that he didn’t doubt that Ken believed everything that he shared and it could be true. However, he could not connect to the stuff and he could not invest in stuff that he could not connect to so he left. Ken said that being on the Shark Tank was a dream come true for him.
Kevin said that he thought that Ken was a great salesman but his presentation would go down as one of the craziest pitches on Shark Tank. He then left. Mark Cuban then left and he said that it was because they had tried to sell science without using science.
As he left, Ken said that the sharks were going to regret not investing in them. They were in a multibillion-dollar market and they could not wait to continue growing their brand.
Liftid Now in 2023 – The After Shark Tank Update
Liftid did not get a deal from any of the sharks but it has continued to do business and its website is operational. Its retail price is $169. On Amazon, it has 3.7 stars out of a possible 5 from 204 ratings. This would indicate that it is bought by enough people but it is not getting the level of customer satisfaction that a product that is considered a top seller is.
Why would it not get higher ratings or sales? The biggest reason would be that it was not as popular. Although people are looking for an increase in mental performance TDCS would be a major move and it is a move that they are not willing to consider. Liftid has over 1,500 followers on Instagram and over 800 followers on Facebook. It also has over 1,000 followers on Twitter.
The Liftid was awarded the Gadgetflow 2019 award for the best product. This indicates that it is not just selling but earning a great amount of recognition from tech reviewers giving it even more credibility. Lori had refused to work with the Davidov founders because she could not guarantee efficacy but such an award does go to prove how credible the company and product are.
Liftid offices are located in New York. It has an annual revenue of $5,000,000 and a valuation of over $20,000,000. The rejection from the sharks has not created any stormy weather in the profit books at all.