Tuesday, February 27, 2024

Tenikle After Shark Tank – 2024 Update

Tenikle Before Shark Tank

Tenikle was founded in 2018 by Hans Dose. Hans has always thought of himself to be a creative person; he liked to brainstorm ideas for potential products. This hobby came in handy for him when his iPhone screen shattered while he was on a hike with his wife, Lydia Dose. How did it happen? Hans wanted to take a picture of himself and his wife; however, he had forgotten his tripod at home. In hopes of using a tree branch as a tripod, he set his phone up against the branch. When the couple was about to take the picture, his phone fell and ended up hitting a layer of rocks.

As the couple was on their way home, Hans propped his shattered iPhone onto the car mount. Looking at the mount, he started thinking about possible product solutions to prevent his phone from falling off of the tree branch. Hans began brainstorming different designs and features to create this product. During the prototype attempts, many mistakes were made, leading the product design to fail; however, Hans continued on his journey to successfully create the Tenikle. After many more trials, Hans had finally created a successful tripod. But what did he come up with? What he came up with was an idea to combine simple tripod features with tentacle shapes, like octopi, that can adhere to many surfaces. Thus introducing the Tenikle.

Tenikle is an octopus-looking, 360-degree tripod that can securely hold any device up to 30 pounds. This tripod has three bendy, suction-cup-equipped legs that are capable of sticking to any surface needed. Aside from overly-textured surfaces like walls, concrete, leather, etc. The product is also equipped with a basic tripod mount on the top of it to securely hold phones in place. Nonetheless, a phone, tablet, or camera can be held in place by just one of the suction cups as well. Tenikle Picture 3

Hans had gone from a $270,000 debt to a successful company, although he did have to sell his RV for some extra help. Shortly after Hans launched Tenikle, he introduced the product to a Kickstarter campaign. His main reason for showing it at the campaign was to see if anyone would even be interested in it; however, people were more than just interested in it. Hans had hopes of raising at least $30,000 from that campaign, but the consumer had other plans. Surpassing the placed goal, Tenikle ended up raising over $110,000 at Kickstarter. The company then went on to IndieGogo and other platforms, where Tenikle raised $65,000.
As the popularity of Tenikle continued to grow, the company began receiving constructive criticism, which led Hans to make improvements to the product. One of which was to use environment-friendly silicone to make the tripods rather than plastic. In addition to that customer feedback, Hans was discovering that there were a few issues with shipping and the production of the tripods. Customers reported that, when they did receive their tripods, they seemed as if they were poorly made. Fortunately, Hans was able to fix those issues.
Tenikle has become a popular product on TikTok after receiving over 30 million views, along with the attention of over 150,000 content creators. While Hans and his business may seem to be doing alright thus far, the company is struggling to keep money for marketing the product. The Tenikle team had $110,000 worth of unsold tripods in stock and Hans needed a sharks help to keep the business up. Let’s find out if a shark will be impressed enough with Tenikle to invest and help Hans Dose.

Tenikle on Shark Tank

Hans Dose enters the Shark Tank hoping for a $200,000 investment with a 10% equity in his product, Tenikle. With a giant inflatable octopus around him, Hans introduces Tenikle and proceeds to pitch his product to the sharks. He starts by explaining how he came up with the idea, along with mentioning his love for octopi and all the things they can do. He demonstrates this by adhering the Tenikle to a surfboard, explaining that it can stick to any smooth surface.

Tenikle Picture 2 To start off, Mark likes the idea; however, he asks Hans about the sales of Tenikle. Hans explains that each Tenikle costs only $6.08 and sells for $45 each. Given that, Tenikle has made $$1.3 million in sales since launching. This talk of numbers leads Hans to explain the marketing aspect of his product and why he needs sharks help.
Hans explains how the Kickstarter campaign went for him and how much money he raised by doing it. But he goes on to mention that getting his product this far has resulted in him being in a debt of $270,000. While this may not have sounded too good, Mark ensures Hans that, at the very least, he could try selling Tenikle at flea markets. With that, some of the sharks begin to drop out.
The first shark to drop out is Kevin, with Lori following closely behind him. Lori tells Hans that she likes the product; however, it’s not for her due to her feeling like it’s crowded. Next up, Robert offers Hans $270,000 for a 60% equity in Tenikle, but he does mention wanting to include another $100,000 in the deal. Robert also tells Hans that he wants to see more partners being brought into the product, which he would be willing to help with. The final shark to place an offer was Daymond. He offers Hans $200,000 with a 33.3% equity in the product, although he soon drops the equity down to 30% instead.
After hearing Daymonds offer, Mark drops out, explaining that he’s not willing to offer anything better than Daymond. With that, Hans tries to counteroffer Daymond an equity of 25%; however, Daymond refuses to change his offer. After some thought, Hans accepts Daymonds final offer of $200,000 for a 30% equity in Tenikle.

Tenikle Now in 2024 – The After Shark Tank Update

After Hans Dose appeared on Shark Tank and received a deal with Daymond John, Tenikle seems to be doing well. The deal between Hans and Daymond had already been closed prior to 2024. Hans did get an opportunity to appear on an update episode of Shark Tank, where he mentioned that Tenikle has made $375,000 in sales within just a month. During the time of the update episode, Tenikle was completely sold out on Amazon.
Tenikle Picture 4 Daymond and Hans did end up welcoming a new partnership to Tenikle as well. They partnered with the president of Litezall, Cody Grandadam, who was able to secure retail orders of about $1 million. Cody is also working on helping the Tenikle team expand their retail. In addition to all of Hans and Daymonds success with the product, Tenikle has been seen on HSN, QVC, and even Buzzfeed.
As of 2024, it’s clear that Tenikle is a successful product, with many happy customers. The company continues to work with Daymond and Cody, while further improving the product. And, as for Hans and his wife, they went from having to live in their RV to being able to start their journey is securing a home.
Melissa Buechler
Melissa Buechler
Graduated from Washington Virtual Academies and have been a freelance writer for about 2 years now. In my spare time, I enjoy spending time with my pets, gaming, etc.
RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here