Is Splikity (Shark Tank) Still In Business?
Splikity, despite its appearance on Shark Tank, hasn’t experienced significant growth in sales. However, the company is still operational.
While it hasn’t made a big impact in the digital security realm, Splikity remains in business. As of November 2022, the business is listed as open on Doug’s LinkedIn page, and its website is still functional.
Splikity, the password management software featured on Shark Tank, has faced challenges since its appearance on the show.
As of the most recent updates, Splikity is still in business, with its website operational, but it has not experienced significant success post-Shark Tank. The app did not receive a boost in demand after airing on the show, and there are only a handful of reviews on the iOS App Store.
Despite efforts to secure an investment on Shark Tank, Splikity did not strike a deal with the sharks. The company’s social media presence is minimal, and its popularity remains low.
While Splikity continues to operate, it has not achieved notable growth or success following its appearance on Shark Tank
Splikity in Shark Tank Show
The Splikity Shark Tank presentation featured entrepreneurial brothers Chad and Doug Clark pitching their password management app on Shark Tank episode 702.
Splikity, founded in 2013, aimed to revolutionize password management by generating complex, unique passwords and ensuring data security through military-grade encryption.
During the presentation, the Clarks sought a $200K investment for 20% of their business. Despite generating $55K in sales from a single transaction with a security company, the Sharks were hesitant due to the Clarks’ lack of technology background and the app’s competition in the market.
In the end, none of the Sharks made a deal with Splikity, with Kevin O’Leary offering $300K as venture debt, which the Clarks declined.
Post-Shark Tank, Splikity continued to operate, but it did not experience significant growth or success, with minimal social media presence and low popularity
| KEY INFORMATION | DETAILS |
| Product | Splikity – a password management software |
| Founders | Chad Clark and Doug Clark (brothers) |
| Pitch on Shark Tank | Sought $200,000 for 20% equity, valuing company at $2 million |
| Business Model | Subscription-based: $4.99/month or $49.99/year |
| Claimed Revenue | $55,000 in the month before taping |
| Sharks’ Concerns | Founders lacked technical/cybersecurity expertise, vague on security details |
| Sharks Who Dropped Out | Mark Cuban, Robert Herjavec, Barbara Corcoran, Lori Greiner |
| Kevin O’Leary’s Offer | $200,000 as venture debt, 5% interest, repaid from 10% of revenues until $600,000 returned |
| Offer Declined | Brothers declined O’Leary’s debt/equity offer |
| Current Status | Minimal demand for the app – Website still up but social media dormant, only 5 App Store reviews as of 2021- LinkedIn says company is “open” but app has low downloads/ratings, Website still up but social media dormant, app has only 5 reviews on App Store as of 2021 |
| Data Security | Uses AES-256 encryption, data hosted on AWS |
Splikity Shark Tank Net Worth
When Chad and Doug Clark pitched Splikity on Shark Tank, they were seeking an investment of $200,000 for a 20% stake in the company.
This implies that Splikity’s net worth or valuation at the time of their Shark Tank pitch in 2015 was $2 million.
The table summarizing the key details states:
| Key Information | Details |
| Pitch on Shark Tank | Sought $200,000 for 20% equity, valuing company at $2 million |
So Splikity’s net worth or valuation when they appeared on Shark Tank to pitch their password management software was $2 million.
The app did not benefit from the “Shark Tank effect,” leading to minimal reviews on the iOS App Store and a lack of significant internet presence.
While the website remains functional, Splikity’s popularity and impact have not seen a significant boost following its pitch on Shark Tank
