Husband and wife duo, Gene and Keidy Palusky, sold the last of their income properties back in 2015 and put more than $300,000 to start their business, XTorch. Their main product is a solar-powered flashlight. More than five years later, the two would find themselves at the mercy of the sharks, whom they were asking for $150,000 for 10% equity of their company. While the two were not fortunate enough to have secured a deal on
Shark Tank XTorch Update
- Entrepreneur: Gene and Keidy Palusky
- Business: Solar-powered flashlight
- Ask: $150,000 for 10% equity
- Result: No deal
- Shark: None
Gene and Keidy came up with the idea for XTorch’s main product while in Africa. During the trip, the two found themselves needing a lighting device that could last for hours. Seeing that the offerings on the market weren’t up to their standards, the two decided to make one of their own. This resulted in Xtorch, which is a solar-powered flashlight that can also be used to charge mobile devices.
The two then went on to
- EXCLUSIVE TROPHYSMACK DESIGN: Our Matthew Berry's Toilet is delicately hand...
- UNIQUE LOSER TOILET FANTASY: Toppers can be purchased as a stand-alone item...
After their presentation, the sharks agreed that there was some merit to what the Paluskys had. Unfortunately, they did not have a patent. The sharks were concerned that nothing was stopping bigger companies from ripping off their product and taking all their sales. The sharks were also worried that the Paluskys still did not know how to sell their products directly to consumers, despite having shipped $113,000 worth of units for the year.
While no shark was interested in investing in Xtorch, Robert Herjavec wanted to buy the company outright. Robert offered the couple $500,000 for their entire company. They countered back with $1 million, but Robert declined. Robert’s shared that he wanted to buy the company because he believed he could make the necessary adjustments and shifts to make it easier to sell directly to consumers. Because Gene and Keidy were not willing to give up the entire company, the two would end up walking away from the
Still, despite not having reeled in a shark, Gene and Keidy’s years’ worth of effort that they put into XTorch did not go in vain. In doing research for our XTorch update, we found out that the two received more than 2,000 orders for their product after their
For more updates from
For more on