Potato Parcel Net Worth in 2024: People in the US love potatoes, but we won’t stop there. That’s just too interesting. Farmer’s Almanac says that Americans eat 120 pounds of potatoes every year and are always finding new ways to cook them.
There are a lot of different ways to cook potatoes. You can make them into fries, tots, boiled potatoes, baked potatoes, hashbrowns, or roast potatoes. That could be why a crazy idea about writing on potatoes, which might seem strange, made it onto an episode of “Shark Tank.”
Rob Bekhit and Alex Craig pitched the Potato Parcel business to the investors on the show. Episode 805 of “Shark Tank” showed that the idea lets people send notes through potatoes without being seen.
It says that Craig got the idea in 2015 when he saw a picture of potatoes that had stamps on them. He set up a website, bought potatoes and pens, and then started selling potato messages online to see how it worked.
But how did the idea work? Where is it now? How did it do on the show?
Potato Parcel Net Worth in 2024
A lot of crazy goods have come on Shark Tank over the years, and Potato Parcel is one of them. You can send potatoes with personalized notes to anyone through the company. Kevin O’Leary made a deal with the founders, Alex Craig and Riad Bekhit. Techie Gamers says that Potato Parcel will be worth about $2 million in 2024.
The founder
Alex Craig was born and raised in Plano, Texas. He got his degree from the University of North Texas and worked as an app writer for a while. Alex, on the other hand, is said to have come up with the crazy business idea.
Riad Bekhit, his business partner, is from San Francisco and went to USC to study policy, planning, and development. Besides that, Bekhit has a bachelor’s degree in business economics from San Francisco State University.
Bekhit was the digital marketing manager at Helen’s Jewels and worked on the business development team at Gigya, where he helped big brands connect with their online users.
Creating the Potato Parcel
Alex was just looking around Reddit one day when he saw a post with a potato that had stamped on it. Many people thought it was just a funny joke, but the young businessman thought it would be great as a real deal.
Alex made a website where people can send potatoes with handwritten notes. He told a lot of people about the website on Reddit and other social networks, and it became popular.
He started the business in 2015, but he needed money to buy a house at one time. Alex sold the business to Philz for $42,000, but in the first 60 days after Shark Tank, Alex got paid $1 per potato. The business made $215,000 in its first year.
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Appearance on Shark Tank
Craig tried several times to get on Shark Tank before he finally got in with Potato Parcel. Every season, about 40,000 businesses try to get on, but only 100 are chosen. Alex and Riad walked in dressed as potatoes all over, and it didn’t take them long to explain what they were doing.
They were trying to get $50,000 for a 10% stake in the business. The Sharks laughed during the pitch and didn’t take them seriously until they told them how much money they had made. In just 13 months, Potato Parcel made $215,000 and kept putting the money back into the business.
Kevin O’Leary and Robert Herjavec were the most interested, and they fought hard to get the deal. Seriously, who wouldn’t want to invest in a potato company? In the end, the business owners picked Kevin’s offer of $50,000 for 10%.
After Shark Tank
Potato Parcel has become a huge success story since the show. The great Mr. Wonderful said that Potato Parcel was one of his best bets on Shark Tank. In 2018, Riad Bekhit said that since the show, the company has sold more than 70,000 potatoes. The business is doing very well and still sends out a lot of potatoes every year.
They now sell novelty gifts and special packs with things like socks, cupcake toppers, and glitter boxes that are already full. This product that didn’t seem likely on Shark Tank is now worth $2 million.
It was smart of the owners to turn a meme into a long-term business. Now they sell packages for events like graduation and Mother’s Day.
On LinkedIn, Riad Bekhit calls himself the “Chief Potato Officer,” and he has two full-time workers who help him with sales. The business was shut down by Alex Craig in 2015. He now runs the viral marketing company TriplePlay.
Is Potato Parcel still operating now?
Yes, Potato Parcel is still operational and continues to offer its unique service of sending potatoes with personalized messages. The company, which gained popularity after appearing on “Shark Tank” in 2016, has expanded its offerings to include various themed potatoes and additional gift items like socks and glitter bombs.
Since its inception, Potato Parcel has seen significant growth, reportedly selling over 70,000 potatoes since its “Shark Tank” appearance, with annual revenues reaching six figures.
The company maintains a commitment to social responsibility by donating a potato for everyone sold to local food shelters. Customers can place orders through their website, where they can choose from a variety of products and even send gifts internationally.
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