Saucemoto’s Net Worth in 2024: We’ve seen a lot of different things on “Shark Tank,” from useful kitchen tools to silly food ideas.
The SauceMoto dip holder is something that some people think is a silly idea. Michael Koury, Tony Lahood, and William Moujaes, three business owners, took their product, SauceMoto, on “Shark Tank” in 2019.
SauceMoto is what they call a “dip clip,” which means it holds your dipping sauce while you’re driving. This sauce can hold ketchup, honey mustard, sweet and sour sauce, and more. In return for $45,000, the three SauceMoto founders wanted to get 15% of the business.
Even though Kevin O’Leary made jokes and laughed a lot during the pitch, he ended up making SauceMoto a very serious offer of $45,000 for 50%.
They talked O’Leary down to 25% and secured the deal with a handshake and a plan to sell the product at all American fast food drive-thrus. Where is SauceMoto these days?
What is Saucemoto? Who are the founders?
SauceMoto is an innovative automotive accessory company known for its flagship product, the SauceMoto Dip Clip. This clip is designed to hold dipping sauces securely in vehicles, allowing users to enjoy their favorite condiments without making a mess.
The product attaches to a car’s air vent and accommodates various fast food sauce packets, making it a practical solution for in-car dining.
SauceMoto was founded in 2017 by three partners:
- Michael Koury
- Tony Lahood
- William Moujaes
The founders all have backgrounds in design and engineering and are described as “tinkerers and dreamers,” reflecting their passion for inventing and improving everyday products.
Their journey began with a shared experience during a road trip in 2007, where they faced difficulties managing sauces while driving, which inspired the creation of the SauceMoto Dip Clip.
The product gained viral popularity, amassing over 50 million views on social media, and has since expanded to include additional products like ice cube trays and charcuterie boards.
Saucemoto’s Net Worth in 2024
As of 2024, SauceMoto is estimated to have a net worth of approximately $400,000, as per reports of The Looper. This figure reflects the company’s growth since its appearance on “Shark Tank” in 2019, where it was initially valued at $200,000.
The founders, Michael Koury, Tony Lahood, and William Moujaes, have successfully expanded their distribution channels, securing sales through major retailers such as Walmart and AutoZone, in addition to their online presence on platforms like Amazon.
The product, a dip clip designed to hold sauce packets in vehicles, has reportedly generated around $400,000 in annual profits, indicating a strong market presence despite competition from cheaper knockoff versions.
The ongoing success of SauceMoto suggests potential for further growth as the company continues to innovate and expand its product line.
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How has SauceMoto’s net worth changed since the Shark Tank deal?
SauceMoto’s net worth has grown significantly since their appearance on Shark Tank in 2019:
- In 2019, SauceMoto was valued at $200,000 when they appeared on Shark Tank seeking a $45,000 investment for 15% equity.
- After the show, SauceMoto successfully negotiated a deal with Kevin O’Leary for $45,000 in exchange for 25% equity, making him an equal partner.
- Though the deal with O’Leary later fell through, SauceMoto continued growing rapidly. By 2022, their net worth had increased to an estimated $400,000.
- As of 2024, SauceMoto is estimated to generate around $400,000 in annual profits, indicating a strong market presence and continued growth since its Shark Tank appearance.
- The founders, Michael Koury, Tony Lahood, and William Moujaes, have expanded distribution to major retailers like Walmart and AutoZone, in addition to their online sales, contributing to the company’s increased valuation.
So in summary, while the exact current net worth is not publicly disclosed, SauceMoto’s valuation has grown from $200,000 in 2019 to an estimated $400,000 in 2024, reflecting the company’s successful growth trajectory since appearing on Shark Tank.
Is SauceMoto still in Business?
Yes, SauceMoto is still in business as of June 2024. Despite not finalizing a deal on Shark Tank, the company has continued to thrive, benefiting from the exposure gained from the show. Key points about SauceMoto’s current status include:
- Active Sales: SauceMoto’s products are available on their official website and through major retailers like Walmart and AutoZone. They also maintain a presence on Amazon, where they have received over 22,700 ratings with an average of 4.6 stars.
- Product Expansion: The company has diversified its product line, introducing new items such as ice cube trays and a charcuterie board, alongside their original dip clip.
- Social Media Presence: SauceMoto remains active on social media, particularly Instagram, where they regularly update followers about their products and company news.
- Sales Performance: The brand reportedly generates around $400,000 in annual profits, indicating a successful market presence despite competition from cheaper knockoff products.
Overall, SauceMoto has effectively navigated challenges and continues to operate successfully in the automotive accessory market.
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