What Is HiccAway?
The HiccAway is a thick plastic L-shaped suction and forced inspiratory swallowing device. The straw’s bottom has two tiny pores on opposite sides that make it difficult for liquid to enter through.
In order to treat hiccups, the user attempts to suck through the straw, which simultaneously triggers two nerves in the diaphragm and epiglottis. Seifi presents his creation as a quick remedy for hiccups that anyone over the age of one may use, in addition to being incredibly easy to use and clean.
Who Is the Founder of HiccAway?
The founder of HiccAway, Dr. Ali Seifi, earned his medical degree from Shiraz University of Medical Sciences in Iran. Before joining the University of Texas as a Clinical Director, he finished a residency in neurocritical care at Thomas Jefferson University in Philadelphia.
He was originally employed by the Departments of Neurosurgery, Neurology, and Anesthesiology at UT Health San Antonio, and he currently serves as the unit’s director. Dr. Seifi also holds the position of Editor-in-Chief for the Journal of Neurology Research.
As an anesthesiologist, Seifi noticed that patients in the recovery area were commonly susceptible to developing the condition, which piqued her interest in the condition. After surgery, hiccups also caused major concern, and because there was no quick-fix prescription, Seifi recognized he had to do something.
With an idea already simmering in his mind, Seifi went to the drawing board and came up with HiccAway. In May 2020, he launched a productive Kickstarter campaign. The HiccAway began shipping in July 2020.
The name of the product was really thought up by his residency students! Since it is safe for youngsters one and older, practically everyone can use it. On Amazon, they are decently priced at $14. Additionally, Wal-Mart and HEB Organics stores sell these.
What Happened to HiccAway at Shark Tank Pitch?
In Shark Tank episode 1305, Dr. Ali Seifi, Amanda Azarpour, and Victor Feldberg present the world with HiccAway, Dr. Seifi’s invention that treats the hiccups. Due to his busy schedule as a neurologist, the outstanding Doctor asks a shark to help with manufacturing and sales.
Dr. Seifi, Amanda, and Victor went on Shark Tank with the goal of getting $250,000 in return for a 10% interest in their $2.5 million company. They first demonstrate why “home remedies” don’t work before showing how the HiccAway works. Dr. Seifi responds to Mark’s inquiry about its effectiveness by citing a study they conducted that was 90 percent effective and published in JAMA.
Daymond is wondering about how the hiccups work because he has a bad case of them. The physician illustrates how it functions with pictorial help. The Sharks are impressed by the video testimonial they show them on stage. The doctor explains how the unique pressure level makes it possible for it to work, and Kevin shows why he cannot reproduce the effect with a straw. He then goes into his medical background.
Dr. Seifi and Victor are equal partners, and the director of marketing is Amanda Seifi’s niece, who works on commission. They are manufactured for 70 cents and cost $6 to sell wholesale and $14 to sell retail. 21,000 copies have been sold, bringing roughly $300,000 for them.
Barbara claims that she couldn’t imagine having it readily available at home, so she left. Kevin thinks it will be hard to persuade people that it works. Since Lori is dubious whether there is a need, she leaves.
Given that it was supported by research, Mark loves it. He thinks it will become a standard item in the medicine cabinet of every home. In exchange for 20 percent equity shares, he is willing to give $250,000.
In exchange for 15% stock, Kevin says he’ll do it for $250,000. When they come together and ask Mark whether he would accept 15% stock shares, he says no. When they respond, they offer Mark an 18% ownership, but he declines. In the end, they agree to Mark’s offer of $250,000 for 20% equity and leave the pitch having reached an agreement.
What Happened to HiccAway After Shark Tank?
A thorough investigation of the arrangement with Mark Cuban is being done. Rapid expansion was experienced by the company. Seifi immediately learned that prominent publications like The Guardian, Daily Mail, New York Post and Business Insider were writing about his idea.
As of February 2022, the company was still in operation, albeit its earnings had not been made public.
Net Worth of HiccAway
During the pitch, the company was valued at $2.5 million, but after Mark Cuban’s investment, it was only worth $1.25 million. Since then, the business’s net value has increased to $800,000.
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