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Tenikle After Shark Tank: The Incredible Net Worth Growth
Tenikle is a product that comes from humble beginnings. After its initial success, founder Hans Dose ran out of funds and soon got himself into debt.
He went into the Shark Tank pitch with $39 left in his bank. Luckily, he successfully secured a deal.
As of 2023, Tenikle’s net worth is $1.3 million. It has an annual revenue of $5 million.
Quick Facts (Tenikle at a Glance)
- Shark Tank Episode: Season 13, Episode 9
- Aired: December 17, 2021
- Inventor: Hans Dose
- Investor: Daymond John
- Final Deal: $200,000 for 30% equity
- Status: Operational
About the Product
The Tenikle 360° was born in 2015 from a broken phone screen due to a lack of a tripod. Hans Dose had an idea for a product that could serve not only as a phone stand, but also as a car mount, bike mount, tablet stand, and many more.
What he came up with was a charming, multi-purpose stand with three flexible octopus tentacles. It had suction that could support up to 100 times its weight!
Tenikle Features
- Waterproof and durable
- Holds a maximum of 30lbs
- Flexible, 360° phone swivel
- Tentacles wrap around handles and stick to any smooth surface
- Strong enough to stand by itself
- Replaces all other mount accessories for any digital device
Tenikle Before Shark Tank
Tenikle started as a successful company. Before Shark Tank, it garnered $172,000 on Kickstarter and $65,000 on IndieGoGo by the end of 2017.
The company would go on to sell 40,000 units—equivalent to $1.3 million in sales.
The problem began in 2021. Hans Dose’s product sold out the year before, so he ordered a whole shipping container full of it. What’s more, he had already spent a chunk of the budget to improve the suction cup’s geometry.
These decisions, along with the pandemic, would send the company into $270,000 worth of debt. Hans and his wife would have to cope by moving into an RV on his mom’s property.
The Most Honest Pitch in Shark Tank
The sharks became impressed with how truthful Hans Dose Was during his pitch. Other presenters would go in and avoid discussing issues within their companies. Meanwhile, Hans bared his soul.
At first, the young garage inventor requested $200,000 in exchange for 10% equity in his company. His product drew the attention of Robert Herjavec, who offered $370,000 in exchange for 60%.
However, this equity didn’t sit well with Hans, so he went with Daymond John’s offer of $200,000 in exchange for 30% of his company.
What Happened to Tenikle After Shark Tank?
Hans and Lydia Dose reworked the brand following the suggestions of their customers.
Since then, the two have managed to turn the company into a multi-million dollar business.
To this day, the company promises to remain loyal to its inspiration, the sea. It commits to creating products with silicone instead of harmful plastics.
Tenikle’s New Product
Tenikle released the Universal Mount and Kodiak Kompanion, which is a work light and tripod combo.
It features an extra detachable 4th arm, 3 brightness modes, and a CRI rating of more than 94. This makes it useful as a light in wild photography!
The ingenious lighting solution comes with a one-year warranty to boot!
Final Thoughts
Tenikle is a product that survived multiple issues and bad decisions. Hans Dose has proven that he can make a comeback from his past mistakes.
That’s a feat that wouldn’t be possible without the many supporters and investors who believe in it. We believe that his hard work and wit have led to Tenikle’s net worth today.
