When moving from one dish to another, washing the spoons and cutlery is one of the most annoying tasks. Tog Samphel, an entrepreneur, presented the Sharks with a clever alternative approach that would change the inefficient and time-consuming process of distributing food to families in episode 13 of season 14 of ‘Shark Tank.’
Anytongs is a clever kitchen accessory that transforms standard tools like spoons and forks into tongs. Now that we have your interest in such a practical product, let’s dive in and follow the company’s development, shall we?
What Is AnyTongs Net Worth?
AnyTongs is currently valued at $306,000. Considering the number of women who would benefit from having just one set of tongs instead of several, it’s clear that this device fills a significant market demand.
The global market for kitchen utensils is predicted to reach $2.7 billion by 2021, expanding at a compound annual growth rate (CAGR) of 4.25 percent. This sector is expected to increase in the following years.
After the latest Shark Tank updates, check out even more net worth:
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Was AnyTongs’ Presentation On “Shark Tank” Successful?
Tog pitches his business idea to the investors on “Shark Tank” for $150,000 in exchange for a 20% stake. Tog finances AnyTongs to address the issue of having too many Tongs. Tog demonstrates how everyday household items may be used as tongs in the kitchen.
Tog has spent the last decade working as a designer for several companies due to his enthusiasm for the field. Tog comes from a Tibetan family. His mom would splice together plastic utensils and glue them to clothesline pins to construct makeshift tongs.
Their Kickstarter effort is trying to raise $10,000. Thirty-three thousand dollars were collected. The production cost is $2, and the selling price is $19.99 for two units. Since 2020, they have made $7,000 in income (not including Kickstarter) for a return on ad spend of $1.
Production had many setbacks because of COVID-19. Thus there was no time to take an inventory. When Tong began developing AnyTongs 2.0 in 2021, he quickly saw significant discrepancies between the two versions. The newer version of AnyTongs is made from higher-quality materials. The production cost of Version 2 is one dollar.
Kevin O’Leary has stated that he will not continue in this business because he does not believe in its potential. Robert Herjavec has quit the game, claiming this is an ominous omen. Daymond John has proposed a $150k investment in exchange for 49% ownership, stating that it is still early.
According to Lori Greiner, Daymond has a very excellent offer, so she has to leave. Tog offered Daymond a 40% stake, but Daymond insisted on maintaining the 49% he already had. Considering Daymond’s offer, Tog decides to take him up.
What are Anytongs, and What Do They Do?
Tog Samphel, CEO and founder of Anytongs, has a degree in Art & Design from Montclair State University. Tog’s lifelong ambition was to work in the field of Product Design, and he finally leaped into that industry. He now works as their Visual Designer and Creative Lead for Nintendo of America.
He has worked as a Product Director, Principal UX Designer, and Head of Product Design at notable firms like Sourcebits Incorporation, ADP, Meta, and Loop. Tog realized he needed to strike out on his own after spending most of his career in a conventional 9-to-5 office. His goal was to invent a new product using his design skills, so he looked for ideas.
Then in the year 2020, a simple yet groundbreaking invention was introduced. The idea for Anytongs came from the inventor’s observation of his mother’s resourcefulness, which led her to combine various cooking implements with clothes pins to produce functional tongs.
Tog saw the potential in the simple kitchen hack and imagined the millions of kitchens that could benefit from a tool that could make life a little bit easier. Using this product as an extension of tongs to grab foods like salads, spaghetti, and even bread is simple!
AnyTongs Shark Tank Update
Samphel’s episode on Shark Tank aired on January 27, 2022, and he came up with the idea for this product to address a genuine need in the market. The founder’s pitch to the sharks was impressive, and the episode was fun to watch. We are keeping tabs on Tog Samphel and his business.
Where Is Anytongs Now?
In November 2020, Tog Samphel first submitted this idea through a Kickstarter campaign, which eventually raised $33,454. Tog was able to secure sales and fulfill all commitments in under a month. Within a few short months of the product’s release, demand had skyrocketed, forcing the pals to ramp up production.
Recycled polypropylene is used in producing these goods, and Kraft cardboard is used in the packaging because it is both recyclable and good for the environment. The firm also maintains tight relationships with producers whose products contribute to a cleaner, less dangerous world.
The manufacturing process has improved and expanded thanks to the input of the Sharks, contributing to the company’s constant expansion. The Grommet, Tom’s Finds, Yanko Design, Mashable, Gadget Flow, and Trendhunter are just a few of the websites that have highlighted Anytongs.
You can get your hands on a pair of black Anytongs right now for $12.99 or a two-pack for $24.99. Most of the time, the 2 Pack Bundle may be purchased at a discounted price of $19.99.
All products on the site are also eligible for the exclusive ‘Shark Tank’ discount of 15%. The product is also available for purchase on Amazon.com. We owe it all to Tob for getting Anytongs’ products out there, and we wish him the best of luck in the future.