Philadelphia startup ChompShop saw a major surge in sales as the Shark Tank episode that featured the company’s founders aired on November 15, writes Ryan Mulligan for the Philadelphia Business Journal.

Kausi Raman and Max Liechty went on the ABC show asking for a $250,000 investment for a 5 percent stake in ChompShop, valuing it at $5 million. The company’s flagship product, the ChompSaw, is a kid-safe power tool for cutting cardboard.

The University of Pennsylvania grads first received identical $250,000 offers for a 20 percent ownership stake from Shark Tank investors Kevin O’Leary and Barbara Corcoran. Billionaire Mark Cuban followed up with an offer of $250,000 for a 15 percent stake in the company, which was then joined by fellow investor Lori Greiner.

“Going into the show, that was our dream pair, Mark and Lori,” said Raman. “As soon as they made the offer, it was kind of a no-brainer for us.”

Within the first six days after the episode aired, the company received around 2,500 orders for the ChompSaw.

At its current pace, ChompShop is already on track to sell out of its current inventory of 5,000 by Christmas.

Based on this current trajectory, Raman said the company doesn’t expect it will have to raise additional capital from investors.

Read more about ChompShop’s surge in sales in the Philadelphia Business Journal.

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Editor’s Note: This post was originally published on PHILADELPHIA Today in December 2024.