Overview
Snactiv was founded by Edwin Cho and Kevin Choi, two design professionals from Los Angeles, California.
The idea for their product came from Kevin’s habit of snacking while working, which annoyed Edwin due to the mess it made on his fingers. They decided to create a multitasking tool that would keep hands clean, and thus the finger chopsticks were born.
Snactiv was launched in 2020 under Inoobi, Inc., and the product was well-received on Kickstarter, raising $41,700 from 911 backers. The company made $187,000 in sales before appearing on Shark Tank in early 2022.
Shark Tank Appearance
In early 2022, Edwin and Kevin appeared on season 13 of Shark Tank, seeking $200,000 for 10% of their business.
The Sharks initially laughed at the product, but were impressed when the founders revealed their sales.
Kevin O’Leary offered $200,000 for 10% equity and a royalty of $1 per unit.
Lori Greiner and Kevin Hart teamed up to propose $200,000 for 20% equity, which the founders quickly accepted.
Since the episode aired, Snactiv has faced issues with knockoff products, but the company is still thriving.
After Shark Tank
Snactiv is extremely popular with people who work in tech and gaming.
The product is available at retail stores like Target and Walmart, as well as online through Amazon and their website. The company has expanded outside of the US, partnering with third parties to sell in Taiwan, South Korea, and Hong Kong.
Snactiv continues to receive positive reviews, averaging 4.5 stars on Amazon from over 1,104 customers.
As of 2024, Snactiv is estimated to be worth $2 million.
About the Founders
Edwin Cho studied international business and finance at New York University, while Kevin Choi has a degree in toy design from Otis College of Art and Design.
Cho previously worked at a children’s software startup called Fuhu, where he made connections with people across various industries, including Kevin.
Choi worked as an industrial designer at companies like Disney and Magic Jump Inc., and both founders worked together at Mattel.
Establishing Snactiv
In 2020, Cho and Choi decided to leave the corporate world and start their own business. They launched Snactiv under Inoobi, Inc., with the finger chopsticks as their flagship product.
The product was designed to be a multitasking tool that kept hands clean while snacking and working.
Snactiv was well-received on Kickstarter, raising $41,700 from 911 backers. The company made $187,000 in sales before appearing on Shark Tank.
Lessons From Snactiv’s Success
Based on the Shark Tank episode about Snactiv, here are three practical tips for aspiring young entrepreneurs:
1. Identify and solve a common problem
The founders of Snactiv noticed a common issue—keeping hands and devices clean while snacking—and created a unique solution. Aspiring entrepreneurs should look for everyday problems and think creatively about how to address them.
2. Highlight unique selling points
Snactiv’s founders emphasized how their product was more hygienic, productive, and cool, showcasing its advantages over traditional methods like using chopsticks.
Entrepreneurs should clearly articulate what makes their product or service stand out from the competition.
3. Leverage strategic partnerships
Snactiv partnered with a major food delivery service for a marketing initiative and aimed for retail expansion. Aspiring entrepreneurs should seek strategic partnerships to expand their reach, enhance credibility, and accelerate growth.
These tips illustrate the importance of innovation, clear communication, and strategic collaborations in entrepreneurial success.
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