Whatever Happened To Splikity After Shark Tank?
Launching and sustaining a business can be quite a tricky endeavor, and one should always make sure that one is at least skilled in the field in which one is venturing into. The popular television show "Shark Tank" features a retinue of savvy business investors who run the gamut of several different disciplines, and they sit in judgment of potential business partners. If a business or service is able to impress at least one of the business leaders of "Shark Tank," then said company will receive a well-known and recognized investor.
For every success, there are several misfires, and one venture in particular didn't receive a very warm welcome on "Shark Tank." This company, known as Splikity, popped up in the second episode of Season 7, which aired in October 2015. Splikity is a smartphone app for managing passwords. Not exactly a novel concept, and one that the Sharks weren't exactly keen on from the start. Splikity was created by the brothers Doug and Chad Clark in 2013, and the program creates complex passwords with heavy encryption. Unfortunately, when pressed by the investors of "Shark Tank," the brothers admitted that they aren't exactly skilled in technology, though they added that Splikity had generated $55,000 in one month from a single transaction with a security company. However, none of the Sharks ultimately took the bait when it came to Splikity, and the Clark brothers went home without an investment. Although the company is still around, they aren't exactly generating much interest or chatter.
Splikity can still be downloaded and utilized
One of the biggest issues that Splikity and the Clark brothers came up against on "Shark Tank" is that when pressed, the Clarks mentioned that their application and service wasn't the most unique around, nor did they say that they have skilled backgrounds in technology and security. This admission caused many of the "Shark Tank" investors to balk at their request, though Kevin O'Leary offered them $300,000 as venture debt for 10% of the profits until $600,000 had been repaid, and then a permanent 5% equity from that point on. O'Leary's offer caused momentary consideration from the Clarks, though ultimately they refused the investment.
So how has Splikity been doing since their appearance on "Shark Tank"? As mentioned earlier, the company is still around, and Splikity can still be downloaded from smartphone app stores, though it doesn't seem like the company was buoyed by the vaunted "Shark Tank" effect. The Gazette Review reported that in 2023, the app and website for Splikity are still usable, though the app has only two reviews on the Apple Store and a paltry 2.7 rating on Google Play. Splikity costs $4.99 a month under normal circumstances, and this monthly cost may act as a barrier to entry, as there are other password apps that are free. Although Splikity didn't receive a major uptick in sales after the "Shark Tank" appearance, it still exists — unlike some other companies, though Splikity is hardly a notable splash in the world of digital security.