Lit Handlers are fashionable and fun drink holders that provide the holders with a handle for their drink. The Lit Handlers come in a variety of sizes, styles, colors, and forms, and can hold a variety of beverages too.
Lit Handlers also maintain the temperature of the drink so hot beverages remain hot, while cold drinks remain cool. Meanwhile, your hands never feel burned or cold as you hold your beverage.
Lit Handlers Net Worth
In 2022, the net worth of Lit Handlers is estimated to be around $1 million to $2 million.
Lit Handlers’ Founder
The founder of Lit Handlers is Destiny Padgett. Apart from being the founder and owner of Lit Handlers, she is an owner of a bar and has a passion for beverage technology. She has taken advantage of her experience as a bar owner to successfully create a business model for Lit Handlers.
Destiny Padgett was born and raised in Buna, Texas. She attended Syracuse University and got a degree in information systems. She also took an online program, Brigham Young University’s Pathway Worldwide, for two years.
After graduating from Syracuse University, Destiny Padgett worked as a supply chain management consultant and life was stable for her until her partner committed suicide when she was ten weeks pregnant. To support herself, she started a baby boutique.
Once, when Destiny Padgett was ordering supplies for her small business, she was $3 short of a free delivery service, for which she bought an additional can cooler. This is when she realized that can coolers were in high demand.
She then created an online website and started selling insulated sleeves of all sizes for drinks. After messing and tweaking around with the design, she eventually came up with what today is Lit Handlers. The company was officially launched in 2017.
Lit Handlers During Shark Tank
Destiny Padgett entered Shark Tank seeking $200,000 in exchange for a 10% stake in her company. She was looking for a potential investor among the Sharks and a Shark who could assist her with licensing so that she can expand her business.
In her pitch, Destiny Padgett narrated how she launched the company. She also mentioned that the sales of her company had been worth $630,000. The Sharks showed interest in the company.
Kevin O’Leary was the first among the Sharks to offer a deal. He offered $200,000 in exchange for a 20% stake in the company. Meanwhile, Mark Cuban, Lori Greiner, and Robert Herjavec exited without any offers or deals.
Daymond John offered $200,000 in exchange for a 25% equity share in the company. Kevin O’Leary then also offered the same deal. Destiny Padgett countered-offered $200,000 in exchange for a 20% stake in the business. Kevin O’Leary did not agree and Daymond John agreed to the deal.
What Happened to Lit Handlers After Shark Tank Deal?
After the deal at Shark Tank with Daymond John, the transaction was successfully completed. This helped Destiny increase the products of her company, all of which are available throughout the United States of America via Amazon or the official website of the company. The company is reported to have made about $1.3 million in 2021, which is a 54% increase.