AnyTongs Shark Tank Update – AnyTongs Net Worth 2024

Tongs are universally considered the best tools for cooking but what do you do when you have multiple dishes to serve and only one tong? Of course, you can buy more but they take up so much space, and it’s hard to keep track of where you put them last.

So instead of filling up your space with large clucky Tongs, use AnyTongs. AnyTongs is the product that came into the shark tank with a unique twist as a product. It offers less usage of space and functionality by utilizing the extra cutlery utensils that the consumers have. Did the entrepreneur get a deal on Shark Tank? Check out our AnyTongs update to find out!

AnyTongs Net Worth 2024

Tog asked for a $150k investment in exchange for 20% equity in his company. This meant he valued his company at $750,000. He made a deal with Daymond for $150k in exchange for 49% of his company. This new deal valued his company at approximately $306,122.

For a quick AnyTongs update, after the show aired, AnyTongs saw a big increase in sales, selling out in mere minutes and reaching $1 million in sales this year. With an estimated 10% yearly growth rate (typical business growth), the current net worth of AnyTongs in 2024 is about $1.21 million.

AnyTongs Shark Tank Update

Tog came into the Shark Tank asking for $150,000 for 20% equity in the company. Despite having just $7,000 worth of goods sold. Tog was able to convince Daymond John that his company was worth investing in and that the product was a “flyer”. After the Shark Tank episode was aired as per expected the product was sold out in mere minutes.

The deal which had taken place in the show, however, doesn’t seem to have materialized. Right after the episode was aired Daymond and Tog could be seen talking about and promoting the product on socials. However, it seems that the deal may not have materialized as Tog took a job in Walmart Data Ventures in 2024. The company has made $1 million dollars in sales in 2024.

Yes, Tog was able to convince Daymond of how good the product was. Tog watched as all of the sharks started to pull out one after the other, however, Daymond took him by surprise by making him an offer of $150,000 for 49% of the company equity.

Tog was having a hard time parting ways with his company’s 49% equity, however, the offer was too good to say no to so he crumbled and agreed to the deal. Keep reading our AnyTongs update to see what happens next!

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Robert Herjavec	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Daymond John	In for $150,000 for 49%	$150,000 for 40%	Yes, $150,000 for 49%
Mark Cuban	Out	N/A	N/A

AnyTongs Shark Tank pitch

Lori curiously asked Tog how he came up with the design. Tog told her that he loves product design and has been a user interface designer for 10 years. He has experience working with top-notch companies, such as Nintendo, AOL, and Facebook, and he wanted to design a physical product. His family is from Tibet.

Being from Tibet and having large-scale parties his mother used to make “make-shift” tongs out of spoons, cloth lines pins, and tape. Using that as inspiration he came up with the idea of AnyTongs. Tog ran a Kickstarter campaign to raise $10,000, however, they ended up raising 33,000. This made sure that Tog delivered the full batch of orders in the initial months.

Tog came into the Shark Tank asking for $150,000 for 20% equity in his company AnyTongs. He started off by telling the sharks that he loves to cook. He believes that tongs are the best utensils to cook with, and while tongs are the best to cook with there are never enough to serve every dish.

Along with that, they are large and they take up a lot of space. Hence, he designed AnyTongs. A compact, simple, and easy-to-use utensil that transforms ordinary utensils into kitchen tongs. Tog demonstrated the versatility of the AnyTongs by adding spoons and forks to convert them into AnyTongs. It prevents cross-contamination across multiple foods. It’s super easy to assemble and can save a lot of space.  

Lori asked about the patent of the product. Tog told her that version one is not patented. Version one of the products is the one being examined by all the sharks and that is placed everywhere in the room and on the website.

Kevin and Mark curiously asked the selling price and price of making the goods. The lowest price point was $19.99 and the 2 tongs starter pack was worth $24.99. The cost of the products was $2.

Kevin was not happy with the price point of the product and talked about the competition and how there are so many of them out there. Tog told him that he had done his research that people were happy to pay $19.99 and that it is standard pricing.

Kevin asked about resale or validation from consumers other than Kickstarter. Tog told him that he started using paid advertising on social media. He got really good at the ads and his return on ads was $1, but soon after he was able to raise it up to $3.

Mark further pointed out that since he had great margins he shouldn’t have to run out of money and should be able to recycle the money into the business. However, Tog told him that there wasn’t much inventory and for 2021 his 2021 sales were just over $7,000.

Robert was eager to know that since the Kickstarter till now, she had only sold $7,000 worth of goods. Tog told him yes because of covid his manufacturer had massive problems. Then Tog thought since they were having so many issues, he should design a new product the second version of the same device.

Lori asked what’s the difference between versions one and two of the devices. Tog told her that there were a lot of differences. The materials chosen to build version two were much better than version one. It is also very eco-friendly and has a secure way of adding utensils and placing them inside. Lori asked about the cost of version 2 of the device. Tog told her that the product cost was a little over $1.

Kevin said that the price point was very high and he has experience with the food industry and realizes that there isn’t much potential in the product. Robert told him how he didn’t think that something in his passion for design was not able to translate into the market. Robert didn’t see the early signs in the company that made it worthy of investment hence he also bowed out.

Mark pointed out that Tog has a long way to go from here and build and structure the company for Tog. Hence Mark also bowed out.  Tog tried to intervene and stop him from going out. However, Mark had already said that he was out. Tog went on a rant about how the hustle culture for the lack of a better word is useless and that he refuses to put his family in financial crisis and sacrifice his time with his family.

Daymond told him that he thought that the product was good and made an offer. He offered $150,000 for 49%of the equity in the company. Lori who was quiet all this while decided to jump in and say that he should take Daymond’s offer because she was going to ask for more share in the equity. Hence Tog was left with no option but to consider Daymond’s offer.  

Product Availability

From our AnyTongs update research, the product is available on its own website the AnyTongs website. Along with being on Amazon, AliExpress, and eBay. It is not being sold on any of the massive wholesale and online kitchen utensils websites or physical stores. However, since the deal with Daymond doesn’t seem to have materialized looks like Tog has put the company on the back burner and is now working with Walmart Data Ventures.

Conclusion

 AnyTongs may be a useful product however with only $7,000 worth of sales and a very high price point it didn’t seem like worthy of investment to many sharks. Hence most of the sharks bowed out. However, Daymond was interested in the product’s potential and the market size it might be able to capture.

Tog who came into to shark tank with almost no sale left with a deal worth $150,000, however, the deal doesn’t seem to have materialized afterwards. Since it looks like Tog has joined the Walmart Data ventures. We hope to find out more about the product and see where it ends up. Keep following for more updates.