XTorch is a business company designed by a power couple, Gene and Keidy Palusky. They established this business in 2015.
Xtorch Net Worth is $1 million. They have been recognized for their innovative product and their dedication to sustainability.
What is Xtorch?
The XTorch is a solar-powered flashlight. It is designed by Gene and Keidy Palusky. Many people were living in the dark due to the absence of resources for electricity. They can’t function properly due to this issue.
So, Xtorch was made to provide a safe way to get light. The founders of Xtorch pitched on the popular television show, which is named as Shark Tank. They did not receive a deal from any of the investors on the show.
Then, they continued to work on the product. They also proceed to build their business. This company is giving 25% of its profits to charity. It is a very good gesture.
Who are the founders of Xtorch?
The founder of Xtorch is Gene Palusky. He belongs to Edina, Minnesota. The idea of making Xtorch was brought up by Gene Palusky. He started his career as a sculptor. He has studied fine arts. His college was Macalester College.
He has also done master’s. He completed his master’s at the University of Wisconsin. Although, he struggled after doing master’s too. He wants to upgrade his career. He chooses the field of real estate business. He started to buy and sell old apartments for many years.
He has also an interest in renovated apartments. Then, he met his love of life who is Keidy. She was also very interested in making new things. He met her In the Dominican Republic. He went there for vacation.
How do Keidy and Gene Establish the Company of Xtorch?
Gene and Keidy begin to travel around the world. They went to Africa and many other countries that are underprivileged. They don’t have access to necessities like electricity.
In this modern world, electricity has become an important source of life. But, many countries are unable to use this source. Due to this, everyone has to suffer. Women have to do all the work in the daytime. Because at night there is no light. Also, students were unable to study due to the loss of electricity.
When they were in Africa, Keidy was diagnosed with malaria. It was reported that she caught this disease in dark. So, they decided to invent something special that is useful for the people.
Then, Gene invented the design and structure of Xtorch. It is a solar flashlight. The price of the Xtorch is $60. It can also be used as a backup phone charger. They also made an EJ case. The headquarters of the company is in Minnesota, U.S.
What Happened After the Involvement of Shark Tank?
Gene and Palusky were not making a profit from the business. Although, they had earned $50k from their business still they want to seek help from Shark Tank.
They reach out to them and then request $150,000. This is requested for 10% equity. They don’t want to involve any third party. The Palusky have continued to grow their company. This is also known as The American Red and Green Company.
Then, they expanded their product line to include other solar-powered devices. They include lanterns and chargers. They have continued to increase the mission of energy independence. They want to promote sustainability.
Gene and Keidy pitched their products to the Shark. They were met with concerns about the lack of a potent and their sales history too. Mostly Sharks were hesitant to invest, but then Robert Herjavec surprised everyone by making an offer to buy the business of solar flashlights for $500,000.
The owners of the business tried to demand a higher price of $1 million for 100% ownership. But, Robert wants to buy the business for $500k. They lower their demand but Robert was stubborn at his offer. At last, the owners left the tank without making any deal. They were unable to secure the investment that they were hoping for.
What Occasion Happened After the Shark Tank?
The idea of the founders of the company for a product gained a lot of attention from the viewers after appearing in the shark tank. They got many orders from previous years. Their business was growing in a good way.
Their product also gains a good response and rating on the platform of Amazon. Their product is easy to use and stand out from other products. Some people also think that the Palusky’s should have rejected the offer of Robert. As they should believe in the proposal of Gene.
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Frequently Asked Questions about Xtorch
Here I’ve covered moslty asked questions about Xtorch.
What is Xtorch?
It is a solar-powered flashlight business. It was owned by Gene and Keidy Palusky.
Can We Buy Xtorch on Amazon?
No, they are not providing this service on Amazon. You can only get Xtorch on the official website of Xtorch.
What is the Net Worth of Xtorch?
The net worth of Xtorch is $1 million.
What is the Location of the Headquarters of Xtorch?
The headquarters of Xtorch is in Minnesota.
What is the Airdate of Xtorch?
The airdate of Xtorch company is 23 April, 2021.
What was the Final Deal of Xtorch with Shark Tank?
There was no final deal.
You can buy products of XTorch from the following website:
