Husband and wife duo, Gene and Keidy Palusky, have created a solar-powered flashlight with bonus features. Their product also doubles as a lantern, and can even charge your phone! Will they light up a deal on
If you’re short on time, here’s a quick overview of what happened to XTorch after
XTorch appeared on
|$500,000 for 100% equity
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.
The only rechargeable USB & Solar Flashlight Lantern that you can count on. In addition, it is an emergency, back-up phone charger. Reliable light & power for safety when you need it, anytime, anywhere. One device that does it all, whether you are at home, work, or camping. It is tough enough to be used around the world for disaster relief.
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 the XTorch.
The Torch can hold its charge for up to 3 years in storage, and supplies up to 48 hours of light. Additionally, in case of emergencies with water, the device also floats.
Gene and Keidy are seeking a shark’s help and would like to benefit from their expertise to increase their direct-to-customer sales, as opposed to selling through a third-party retailer.
Their product sells for $55.95 on their website and costs $18.50 to manufacture. That said, Gene shares that they will be able to lower the production cost to $14 soon.
Further, in the year prior to filming, XTorch had $53,000 in sales. In the year of filming, they are estimating they will do $90,000 in sales.
In addition to a business, XTorch also donates at least 25% of its profits to its partners around the globe. After their presentation, the sharks agree that there is some merit to what the Paluskys have.
Unfortunately, they do not have a patent and this makes the sharks nervous. The sharks are concerned that nothing was stopping bigger companies from ripping off their product and taking all their sales.
Kevin O’Leary goes out first because he thinks the price point is too high.
The sharks are also worried that the Paluskys still do 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 and they countered back with $1 million, but Robert declined.
Robert 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
XTorch currently holds an average of a 4.5-star rating out of 200+ ratings on Amazon and seems to be a hit with customers.
While it doesn’t seem that Gene and Keidy have been able to build the company into a multi-million business, it seems they’re still growing and increasing sales!
For more updates from
For more on
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!