Liftid is a neurostimulation device that helps increase focus and enhances memory. As a result, it can eliminate the need for caffeine and other performance enhancers.
The company has made quite a profit since appearing in Shark Tank. So, what’s Liftid net worth now?
The founders of Liftid, Ken and Allyson Davidov, appeared in Shark Tank, asking for $200,000 in funding for 10% of equity.
Despite not getting any offer, Lifitd sales exceeded the $1 million mark within just a few months after the show. Today, the company has a net worth of $30 million.
Keep reading to find out more about Liftid and what happened to the company after Shark Tank.
About Liftid: The Product
Lifitd is a headband-shaped device designed with electrodes attached to it. The main objective of Liftid is to boost the brain’s performance without any chemical interference.
Reportedly, using it for only 20 minutes maximizes the brain’s capabilities.
The device, created and developed by Theodore H. Schwartz, utilizes transcranial Direct-Current Stimulation (tDCS).
This technology delivers a low electric current to a specific area in the brain, increasing blood flow.
Presumably, Liftid activates neurons and enhances neurotransmitter release, which increases a person’s attention span.
About Liftid: The Founder
The founders of Liftid are husband and wife entrepreneurs Ken and Allyson Davidov.
Ken is a partner at RPW Technology LLC, and Allyson is a New York real estate agent. They used the help of Theodore H. Schwartz, Md in designing and developing Liftid.
Theodore H. Schwartz has a medical degree from Harvard. His specialist was in the minimally invasive surgical techniques used to treat brain tumors and epilepsy.
Moreover, he completed his residency in Neurosurgery, which gives him quite the expertise regarding Liftid technology.
What Happened in Shark Tank?
Ken and Allyson Davidov brought their product, Liftid, to Shark Tank in hopes of reaching more potential customers.
In the show, episode 5 of season 12, the couple was seeking funding of $200,000 for 10% equity.
During the episode, Ken did a demo of the device alongside a duo presentation with his wife, Allyson.
The sharks weren’t that interested in the product, even after trying it out. Eventually, all the sharks weren’t convinced enough to make a deal, and the couple left with no offers.
What Happened After Shark Tank?
Being featured in Shark Tank, Liftid got the needed publicity, and the device’s sales increased after airing the episode. In a few months, Liftid managed to sell $1 million worth of product units.
Additionally, the product became available through Amazon.
Liftid Net Worth
Liftid sales continued to grow after the show, and now the annual income is $5 million.
The company’s net worth also increased through the years to reach $30 by 2023. What’s more, experts estimate another $5 million increase in valuation.
Take a look at the following table showing the growth of Liftid’s net worth over the course of five years.
No doubt that technology plays a huge part in our lives today, and the sky’s the limit to what it can do. The increase in Liftid net worth proved how successful the product is in enhancing the brain’s performance.
Although Liftid hasn’t gotten any offers at Shark Tank, the company continued to grow, generating impressive revenue each year. However, with some people talking negatively about the product, its effectiveness remains unproven.