XTorch Net Worth 2022; What Happened after Shark Tank Deal? (Updated)

Have you ever wished you had a bright light handy when you needed it most? Maybe you’re out on a camping trip, and the sun goes down sooner than expected, or you’re stuck in a power outage and have to find your way around in the dark. Well, with XTorch, that’s no longer a problem.

This handy little device is like having a mini sun in your pocket, so you can always see what’s ahead. Whether using it for everyday tasks or emergencies, XTorch is sure to come in handy.

These flashlights are rechargeable, solar-powered, and water-resistant. It also has the capability to charge up your cell phone with solar power present in it.

It’s the handiest and most reliable product for night walks, camping, and power outage.

Some Features of XTorch

This torch has a Lithium-Ion battery that gives 7 to 10 years of lifespan at 3000mAh. The battery holds the strength that can run up to two years without charge. The torch also has a solar panel of 1-watt output.

In addition to that, it has a longer lifespan of 30,000 hours due to its LED technology. It is resistant to ultraviolet rays and water.

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XTorch Net Worth

XTorch, founded by Gene and Keidy Palusky, has a net worth of about $1 million as of 2022. The net worth of XTorch before appearing on Shark Tank was $1.5 million.

Who Is the Founder of XTorch?

Gene and Keidy Palusky are the founders of XTorch. Gene aspired to develop XTorch due to difficulties he saw of people while working in travel and development in Guinea. Meanwhile, Keidy Palusky is their secret weapon, and due to her understanding, The XTorch came to be.

She grew up in the Dominican and is well aware of and better understands how people live without reliable power and light. She offers design and marketing ideas and helps them maintain the company’s mission.

Lastly, Bob is their lead engineer who helped them numerous times in their development process; he oversaw their design and manufacturing.

Inspiration for XTorch

While doing his travel and development work in Equatorial Guinea, Africa, Dominican Republic, and other remote areas, Gene saw that children could not study, and people could not do their basic work after sunset due to a lack of lightning.

Furthermore, while helping children in Equatorial Guinea (Africa)with his fiancé, Keidy Lora Palusky, became sick with malaria. Gene was then forced to use a temperamental dying flashlight to check her temperature.

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Gene and her doctor friend furiously searched adjacent villages without power on dark roads for the medications that Keidy required. They finally succeeded in inserting an IV by using the light of a single candle, which saved her life.

All these circumstances inspired the couple to develop a Torch that will help people to light up and get their work done after sunset.

XTorch Shark Tank Appearance

Keidy and Gene made their Shark Tank appearance in episode 1224, where they were seeking about $150,000 for 10% equity for their company. They gave a detailed explanation of their product and gave their pitch.

In their pitch, they informed the Sharks about their back story and told them that they give their XTorch to non-profits. Kevin O’Leary then asked them if they were doing a business or a charity because the company sold about $53,000 torch lights in 2021. There was no reply to this question.

The founder of XTorch then continued by saying that they did not have patents. Kevin thought that they should go to direct consumers for $29.95 instead of their selling price of $55.95. He then announced that he was out of any deal.

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Meanwhile, Mark Cuban acknowledged their products, but due to their low sales, he was out too. Daniel didn’t agree with their price, and he was out as well.

Then, a turnaround came when Robert Herjavec said that he wanted to buy the whole company because he loved the product and offered $400,000. Gene counteroffered $1 million. At this point, Lori Greiner also went out. Robert Herjavec then increased his offer to $500,000. Gene again counteroffered $7500,000, and Robert left after this. Eventually, the duo left Shark Tank without any deal.

What Happened to XTorch After Shark Tank Deal?

Although the company could not secure a deal with Shark Tank, the audience realized their product’s worth, and they got around 2000 orders immediately after the episode. The duo now aims to give some percent of their product to non-profit organizations.

In 2018, they donated about 1,500 torches, while they only sold 200 torches. They also contributed to giving 25% of profits to International Relief Partners Across the World.

Finally, their hard work and good causes are paying them off, as, in 2019, their sales doubled and went up to 350%. They also have a 4.5 stars rating on Amazon, which indicates how reliable and how well the performance of their product is.

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