|SEASON 6 EPISODE 10|
|Pitch||time-locked container designed for those struggling with food cravings, bad spending habits and phone addiction, among other things|
|Entrepreneur||David Krippendorf and Ryan Tseng|
|Asked For||$100,000 for 5%|
|Deal||$100,000 for 20%|
|Shark||Lori Greiner and Nick Woodman|
What is Kitchen Safe?
Kitchen Safe is a plastic container time lock. Once locked, a user cannot access the contents until the time runs out. Initially, the plastic container was intended to keep users from accessing their junk food. However, the scope of the product was expanded to include keeping phones, alcohol, and other addictive products that could be stored in the tin. To incorporate the change in usage, Kitchen Safe was rebranded to kSafe.
Who Owns Kitchen Safe?
David Krippendorf and Ryan Tseng are the founders of kSafe. Before partnering to develop kSafe, David worked in the finance world in various capacities. While his partner, Ryan had been an electrical engineer. The duo is still in charge of kSafe. They have used their leadership to expand the company’s scope.
David Krippendorf was motivated to create kSafe due to a personal predicament. David had developed an unstoppable habit of snacking, which saw him gain some weight. To curb the addiction, he used his wife to hide the snacks. However, this was an exercise in futility as he kept finding the snacks.
It is this experience that made him create kSafe to hide snacks. His idea was fortified by the fact that numerous Americans were obese due to poor lifestyle choices. Having kSafe would help encourage them from overindulging.
Once the idea had been conceived, David and Ryan took out patents due to the proprietary elements. They also sought funds through Kickstarter. They were able to raise $42,000, which they used to mass-produce kSafe. The product was popular, gaining about $300000 in 11 months.