People in today’s environment usually search for quick solutions to problems related to their health and survival. Imagine finding yourself in a situation where there is a shortage of food during a natural disaster or when hiking in a remote area. Many of us are concerned about what we would do if we were unable to obtain regular food as it is the basic and one of the most important needs for human survival.
The entrepreneur Daryl Stevenett produced a unique solution to this problem. He made the pills that will enable the people to survive for many days. He claimed that only one pill a day is enough for a human and it will provide all the nutrition required to survive. You can survive on these pills without having calories for at least a week.
Daryl requested $200,000 from the Sharks in exchange for 30% of his business. He introduced LifeCaps as a survival pill, a tablet that uses body fat storage to keep you energetic and alive in the absence of food. Sharks get confused and amused too by this idea. Let’s find out if any shark offered the deal or not.
Life Caps Net Worth 2024
Daryl Stevenett asked for a $200k investment in exchange for 30% equity in his company, LifeCaps. This meant he valued his company at approximately $666,667. He did not make a deal with any of the Sharks. After the show aired, LifeCaps continued to sell on its website and Amazon. With no significant growth, and the product being removed from Amazon in 2021, the business declined. The brand rights were eventually acquired by REJ Diamond Pharmaceutical, but no new products have been launched under the LifeCaps brand as of 2024. With the business being non-operational and the product unavailable, the current net worth of LifeCaps in 2024 is considered to be $0.
Life Caps Shark Tank Update
Daryl Stevenett kept selling LifeCaps on his website and through Amazon after his appearance on Shark Tank. However, there were different reviews from customers on the product, some consumers found it useful, while others did not see the desired results. With time, the absence of scientific support and clinical trials became an important challenge for the business.
Therefore, LifeCaps saw a slow decline in its market share. The product was removed from Amazon by 2021, and the business’s website was shut down. Eventually, the rights to the LifeCaps brand were purchased by REJ Diamond Pharmaceutical. As of 2024, the product is not available anywhere, although there have been discussions about a LifeCaps 2 in the future.
No, Shark Tank did not result in a deal for LifeCaps. When Daryl Stevenett first joined the tank, he demanded $200,000 in return for 30% of his business. The absence of scientific tests and Daryl’s bold claims left the Sharks unconvinced of the product’s safety or effectiveness. Since every Shark was rejected, Daryl was left without a deal.
| 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 | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Life Caps Shark Tank Pitch
Daryl Stevenett is also a musician and got the idea of making these pills when he learned of Utah coal miners who were stuck underground. Rescuers dug a tunnel to deliver water and food to the victims.
He wondered why no one had invented a device that could prolong life in dire situations. At that time he thought of making Life Caps. He contacted a friend who had had success with energy bar creation. They co-developed the product and gave it the name Caps.
In his Shark Tank pitch, Daryl Stevenett presented LifeCaps as an innovative survival supplement. He started out by telling the Sharks that he hadn’t eaten in eight days because of LifeCaps, which were supposed to have given him all the nutrition he needed to survive.
According to Daryl, the supplement enabled the body to live on stored fat, just like bears do during their hibernation. He made it clear to the Sharks that LifeCaps was a survival tool rather than a diet pill in an effort to convince them of its real-life usage.
The Sharks were doubtful about the bold claims of Daryl and their lack of scientific support. Daryl requested $200,000 in exchange for 30% stock, but he did not present sufficient evidence regarding the effectiveness or safety of the product.
All the sharks had so many doubts and questions about the product. Darly tried to convince the sharks and cleared their doubts.
Lori Greiner asked how LifeCaps differed from standard vitamin pills to which Daryl gave an incomplete answer. Daryl stated that there was a significant change, but he did not specify what the difference was.
Mark Cuban asked if LifeCaps was really just a diet medicine with a different name, Daryl said that it was a survival pill meant for critical situations rather than a diet pill.
Robert Herjavec asked how long the product had been on the market and Robert was curious to know why there had been no clinical testing. Daryl gave a nuclear response that was primarily based on his personal experiences.
Daymond John also questioned the scientific testing and doubts about the product’s safety. Daryl responded by telling the Sharks that all of the substances were natural.
All the sharks did not offer a deal to Daryl with different responses and concerns.
Mark Cuban decided not to invest as he thought Daryl was just selling a diet pill and naming it a survival pill. He labeled the product “snake oil”.
Lori Greiner also left because she believed it was dangerous and unethical to offer a product without testing and was concerned about the absence of scientific testing.
Robert Herjavec chose not to invest in the product because, like Lori, he believed it to be unethical and unsafe to sell a product without proper testing.
Daymond John also decided not to invest for the same reason of safety issues.
Kevin O’Leary was also out because he didn’t think there was a market for a product meant to be used in an emergency and didn’t think it would continue to make sales.
What Went Wrong With Life Caps On Shark Tank?
LifeCaps faced several difficulties while presenting their Shark Tank pitch. The main problem was that Daryl’s claims were not supported by clinical experiments or other scientific data. The product’s effectiveness and security worried the sharks, especially because it was advertised as a survival tool.
Furthermore, the Sharks and potential consumers were misled by the product’s advertising, which confuses the functions of a diet pill with survival items. The Sharks all turned down Daryl’s offer because they believed the product would be misleading and possibly dangerous. The Sharks weren’t convinced to invest by LifeCaps in the absence of a well-defined distribution plan, a focused marketing approach, or convincing scientific evidence.
Product Availability
Today Life Caps are not available anywhere. As of 2021, the product is no longer sold on Amazon or the LifeCaps website, where it was first offered for purchase. There is currently no proof that the product is offered online or in any shops. Although REJ Diamond Pharmaceutical now owns the brand and is planning to introduce a new version of Life Caps, as of 2024 no new products have been introduced under the LifeCaps brand.
Conclusion
The story of LifeCaps is appealing, characterized by bold claims, innovative concepts, and a difficult journey on Shark Tank. LifeCaps were created by Daryl Stevenett as a survival pill that might be used to maintain life without meals by utilizing the body’s fat reserves as fuel.
Daryl requested $200,000 from the Sharks during his pitch in exchange for 30% of his company’s shares. The Sharks, however, were unconvinced by his statements because there was insufficient clinical research and scientific proof. The Sharks quickly declined the contract because they were worried about the safety and risk.
Daryl continued to sell LifeCaps online after the show, but the product received mixed reviews because of doubts about its efficacy and safety as well as a lack of scientific support. The product is no longer accessible as of 2024, and the company seems to have closed, however, REJ Diamond Pharmaceutical has purchased the brand’s rights.
The episode highlighted how crucial it is for a product to succeed to conduct in-depth research, provide solid proof, and use straightforward marketing. Even the most creative concepts may find it difficult to gain popularity and succeed in the long run without these components.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
