Liftid Shark Tank Update – Shark Tank Season 12
LIFTiD, a neurostimulation headband featured in Shark Tank Season 12, has grown steadily despite not securing a deal.
Ken and Allyson Davidov hope to get a lift for Liftid, their electric neuro stimulation device, in Shark Tank Season 12 Episode 5. Ken has been in the import and product development business for over thirty years. Allyson is a Realtor and helps Ken with marketing.
Ken works with inventor Dr. Theodore H. Schwartz, MD, in getting Liftid to market. Schwartz is a very well-credentialed neurosurgeon who created the product to help improve focus, attention and alertness.
Check out other Shark Tank Season 12 Episodes.
About LIFTiD
| Category | Details |
|---|---|
| Business Name | LIFTiD |
| Founders | Ken and Allyson Davidov |
| Industry | Health & Wellness |
| Product | Electric neurostimulation device |
| Deal Status | No Deal |
| Investment Asked | $200,000 for 10% equity |
| Valuation | $2 million |
Liftid is a headband with electrodes. It uses a small electric current, called Transcranial Direct Current Stimulation, to stimulate certain areas of the brain. It acts as a substitute for chemical stimulants like caffeine, sugar, or drugs. Over 4000 medical studies show that this method “alters brain function by increasing blood flow, enhancing neurotransmitter release, and activating neurons.”
The product itself looks like a virtual reality headset without the goggles. It should be used for just 20 minutes a day and no more. A single unit costs $149. Davidov helped Dr. Schwartz bring the product to fruition with the help of Gadgetflow, which got it noticed worldwide and accelerated sales. Now, he wants a Shark’s help taking it to the masses.
Video
LIFTiD Shark Tank Pitch
Ken and Allyson enter the Shark Tank seeking $200,000 for 10% of their business. Ken is wearing the device. They tell their story and explain how the product works. They say they have a smarter way to get an energy boost. When the pitch is over, they invite the Sharks to try the product, and they instruct them on how to use it.
The Sharks appear to like it, but Robert says he isn’t getting a coffee boost. Mark reads the warnings on the box. It states, “There is no medical benefit. Ken says it’s for cognitive benefit. They sold 1240 units. Landed, they cost $22, and they sell for $149.00.
Did LIFTiD Get a Deal on Shark Tank?
Lori says she doesn’t invest in products that make claims; she’s out. Robert thought it was a horrific presentation; he’s out. Daniel cannot connect to the product; he’s out.
Kevin says he has a headache, which is in the lexicon of the craziest pitches on Shark Tank; he’s out. Mark says he tried to sell science without using science; he’s out.
LIFTiD Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. This company sold many units in the immediate aftermath of the original air date. As of July 2024, they are very much in business with $6 million in revenue. The estimated net worth of LIFTiD is around $25 million.
Posts about LIFTiD on Shark Tank Blog
Where Can You Buy It?
The LIFTiD device can be purchased on their official website. For more updates, visit their Facebook and Twitter pages.
Quick Summary
- Ken and Allyson Davidov pitched Liftid, seeking $200,000 for 10% equity.
- The device uses Transcranial Direct Current Stimulation to enhance focus and alertness.
- Despite an interesting product, the Sharks were skeptical, and no deal was made.
Curious to know about the other businesses featured in the Shark Tank Season 12 Episode 5? Check their business updates!
