What Is Saucemoto?
You may attach the practical Saucemoto clip to your car. After attaching this thing, you may put your mini sauce tub conveniently.
In 2017, William Moujaes, Tony Lahood, and Michael Koury developed Saucemoto. The three were buddies before launching the product. They all hold degrees in design and engineering.
Anyone who enjoys eating on the go or who travels with meals might choose Saucemoto. Say goodbye to dry food once you have the product by dipping your fries in it.
Who Is the Founder of Saucemoto?
The company Saucemoto was founded by Michael Tony, Lahood, and William Moujaes. The product, in addition to others, was made by Saucemoto, which was formed in 2017. They were started by and affiliated with numerous food and beverage businesses.
The three were friends before launching the product. They all hold degrees in design and engineering. The control of Saucemoto remains with his friends. The three buddies who founded Saucemoto were on a road trip, so eating while driving was a bit chaotic.
Occasionally, there was a small amount of spilling. The childhood friends were inspired by this to come up with a workable solution. William succeeded in developing a 3D rendition of Saucemoto after some trial and error. His pals refined his concept by making it a size that could fit everyone.
The company was able to grow thanks to its crowdsourcing campaign, which raised over $63,000. A successful Kickstarter campaign that collected $63,308 helped launch Saucemoto in 2017, and subsequent lifetime sales of the business reached $70,000.
What Transpired During the Saucemoto Shark Tank Pitch?
Following the introduction of a crowdfunding campaign, which raised about $63,000 and opened the door for the business to grow. They made a $45,000 offer in exchange for 15% equity shares when they pitched their company’s product on Shark Tank.
The fact that the company has sold 12,000 devices and generated $77,000 in revenue since its founding thrilled the Shark Tank investors.
Robert offers $45,000 for a 40% equity stake in the company, compared to Kevin O’Leary’s $45,000 payment for Saucemoto’s 50% stock.
By making a fresh offer of $45,000 for 25% of the company’s equity shares, Kevin O’ Leary countered Robert’s offer. The Saucemoto business and Kevin O’ Leary finally come to an agreement.
What Happened to Saucemoto After Shark Tank?
Investor Saucemoto is still in operation after the agreement with Shark Tank ended. They still maintain a functional website where customers may purchase a vehicle dipping holder for the sauces that quickly attach to the air conditioning vents of the vehicle.
Additionally, Amazon sells the item. Three of the original partners in the business are still there. There are similar products on the market, but the Saucemoto Dip Clip, which is available at retail behemoth Walmart, is the most well-liked.
Saucemoto is available to a wider market because of Walmart’s geographical presence and the ability to be purchased both online and in-store.
Saucemoto Net Worth:
The Saucemoto is worth $300,000 after deductions.
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