Mikael Soderlind and Marc Lickfett noticed that kitchen knives were becoming dull. It can be difficult for people to locate reliable knife sharpening services. They sought a unique solution to this problem. They established Knife Aid a mail-order service for sharpening knives. This is an easy-to-use and convenient service.
Clients can stay at home and get their knives sharpened by sending them in. In Season 11 Knife Aid made an appearance on Shark Tank. In their proposal, they requested $480,000 in exchange for 15% stock. Will the entrepreneur get a deal on Shark Tank? Check out our Knife Aid update to find out!
Knife Aid Net Worth Shark Tank Update 2025
Mikael Soderlind and Marc Lickfett asked for a $480k investment in exchange for 15% equity in their company. This meant they valued their company at $3.2 million. They made a deal with Lori Greiner and Rohan Oza for $500k in exchange for 20% of their company. This new deal valued their company at $2.5 million. After the show aired, Knife Aid saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Knife Aid is about $3.66 million.
After showing up on Shark Tank Knife Aid is doing incredibly well. In 2024, the corporation is still operating. They have persisted in expanding and changing. They make about $2 million a year in revenue. It’s a fantastic accomplishment for such a young firm. After making an appearance on the show Knife Aid has drawn a lot of attention. They have appeared on shows such as The View.
Additionally, they have been published in magazines such as Blade and Wired. Their consumer base has expanded as a result of all this exposure. The business provides a service for subscriptions. Customers can now receive frequent knife sharpening at a discounted price. The mail-in market has shown Knife Aid to be a profitable business model.
Knife Aid did really score a deal on Shark Tank. For 15% equity, they want 400k dollars. The sharks found it impressive. The initial offer came from Lori Greiner. She made two hundred thousand dollars available as a line of credit for twenty percent equity and as an investment. An offer was also made by Kevin O’Leary. Four hundred thousand dollars for 20% equity was his proposal.
Rohan Oza the guest shark accepted Lori’s offer to equal Kevin’s. Kevin and Barbara Corcoran formed a team. They made a twenty percent equity offer for five hundred thousand dollars. The business owners talked about the deals available outside the studio. They ultimately decided to accept Lori and Rohan’s offer. Which was $500,000 in exchange for 20% equity.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Rohan Oza (Guest Shark) | $500,000 for 20% equity(with Kevin) | $500,000 for 20% equity | Yes |
| Lori Greiner | $200,000 in investment and $200,000 as a line of credit for 20% equity | $500,000 for 20% equity | Yes |
| Kevin O’Leary | $400,000 for 20% equity | N/A | N/A |
| Barbara Corcoran | $500,000 for 20% equity(with kevin) | N/A | N/A |
| Mark Cuban | Out | N/A | Yes |
Knife Aid Shark Tank pitch
Marc and Mikael come from fascinating backgrounds. Mikael has a prosperous business. He established Happy Socks as his business. He’s worked in retail before. He struggled to get into the American market, though. He wished to use Knife Aid and steer clear of the same errors. Marc was a businessman as well.
Their goal was to close a market gap together. Services for sharpening knives are easily accessible to the public in Sweden. They saw that this was not the situation in the United States. They were motivated to design Knife Aid by this. They aimed to simplify knife sharpening for all users. They have to overcome obstacles like expanding their client base. They also had to design a dependable mail system.
On Shark Tank Mikael and Marc made a clear representation of their idea. They demonstrated how to sharpen a knife to begin their pitch. They demonstrated their procedure to the sharks. Clients are given pre-paid envelopes. They are able to submit at least four knives. Each knife costs ten bucks.
They disclosed the prior month’s sales numbers. Their earnings totaled $37,000. This knowledge impressed the sharks. They recognized this company’s development potential. The business owners’ proposal was confident and well-spoken.
Knife Aid raised questions for the sharks. They were curious about the workings of the technique. They inquired as to how long it takes to sharpen the blades. Well, Mikael and Marc responded to their inquiries. The sharks talked about the knife-sharpening industry. They thought there was a sizable need for this particular service.
They observed that a lot of people had difficulty using dull knives. The business owners clarified that customers value convenience. They can find a sharpening service without having to leave the house. Sharks have been drawn to the company because of this feature.
Knife Aid had a positive reaction from the sharks. They saw room for improvement. The first offer, made by Lori Greiner, was for $400,000 in exchange for 20% stock. Kevin O’Leary made a similar offer after that. Together with Kevin, Barbara Corcoran extended a higher offer of $500,000 in exchange for 20% stock.
Marc and Mikael were thrilled with the attention. They went outside to talk about their alternatives. Upon their arrival back, they requested that Lori and Rohan match the greater offer. They made a deal to give 20% of their stock in exchange for 500,000 dollars. The discussion went well and was productive.
What Went Wrong With Knife Aid On Shark Tank?
Despite Knife Aid’s popularity among most Sharks, Mark Cuban decided against investing. He thought the company needed more market experience. He didn’t think it could hold its own against larger companies. Daymond John wasn’t there either. He didn’t think he was qualified to assist them. The Sharks talked about some of the business’s risks.
A few of them expressed concerns regarding the service’s scalability. They were curious about the company’s potential for rapid growth. Some Sharks were hesitant to invest because of these worries. Still, Mikael and Marc managed to get the desired deal.
Product Availability
Knife Aid provides a special product. They offer mail-order knife sharpening. This service differs from traditional methods of sharpening. Clients are given pre-paid envelopes. It’s easy for them to mail in their knives. It’s an easy and convenient approach. All the information is on the webpage. Clients can find out how to return their blades.
They are also able to read reviews from clients. Prices are clear-cut. Sharpening a knife costs 10 bucks for each knife. A subscription service is another option available to customers. This makes regular sharpening at a reduced cost possible. Online sales are offered for Knife Aid. Their website is easy to use. Ordering and having knives sharpened are both simple processes for customers.
Conclusion
Shark Tank has been an incredible experience for Knife Aid. They made a powerful pitch right away. They managed to strike a good agreement with Rohan Oza and Lori Greiner. Ever since the business has expanded gradually. They’ve attracted more attention from the media and increased the number of their customers.
Right now the yearly revenue is close to two million dollars. This indicates that customers are in need of their services. Knife Aid intends to increase the range of products it offers as it grows. In the future, customers will be receiving further services. Knife Aid is an excellent illustration of how success may come from creative thinking.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
