When digging, one tool used to determine depth is a Measuring Shovel. This shovel is special and unlike any other shovel that you may find. With the help of this Measuring Shovel, users can simplify tasks in their gardens, such as planting trees.
This mashing shovel was created by Maddox Prichard as a project for his fourth-grade class. He entered and emerged victorious from the Middle Tennessee State Invention Convention competition in 2016.
The National Invention Convention in Washington has awarded him the Household Tool Award. He met a patent attorney at the State Invention Convention, who gave him a patent for this product for free.
Along with his mother Amanda, father Jason, and sister Brenna, Maddox made an appearance on Shark Tank Season 11 Episode 6 where he requested $40,000 for 15% equity at a $266K valuation from the sharks.
What Is The Measuring Shovel?
An instrument for precise depth measurement is the Measuring Shovel. Gardeners and builders alike benefit from this product.
Who Is The Measuring Shovel’s Founder?
In 2016, while he was in the fourth grade, Maddox Prichard established The Measuring Shovel. With the assistance of a patent attorney, he was able to issue a free patent for the product in 2018.
How Was The Shark Tank Pitch Of The Measuring Shovel?
After introducing themselves and outlining the project to the sharks, Maddox and Amanda requested $40k in exchange for 15% equity. Maddox made his 13-year-old debut on Shark Tank.
Maddox clarified that the mold would be composed of $15K to $25K of the investment funds. The initial order will be paid for using the remaining funds.
Kevin O’Leary and Lori Greiner offered $40,000 in exchange for 30% equity. The offer from Daniel Lubetzky was $40,000 for 25% stock. Maddox offers $40k for 25% shares in response to Kevin and Lori.
Kevin turned down this offer. Maddox responded with an additional $50,000 for a 30% stake. Kevin declined. Ultimately, Maddox decides to accept Kevin and Lori’s offer.
Completed: Lori Greiner and Kevin O’Leary contribute $40k for a 30% stake in “The Measuring Shovel.”
What Happened To The Measuring Shovel After Shark Tank?
After appearing on Shark Tank, Maddox gained a lot of popularity, with many people applauding the 13-year-old boy’s creation. Since the product was still in the prototype model, no revenue could be made.
The final product was made with investments made with the money that was seized from the shark. We’re hoping this business can turn a healthy profit.
He spoke about his entrepreneurial path at the Tennessee State Invention Convention in February 2023. Maddox won prizes at the DECA State Competition in March 2023.
The Massaging Shovel Tool isn’t for sale as of June 2023. When one visits the official website, the phrase “will be soon” appears. Hopefully, Kevin and Lori haven’t finalized the agreement. This company’s profile is still accessible on Lori Greiner’s portfolio.
The Measuring Shovel Shark Tank Update
Kevin O’Leary and Lori Greiner’s Measuring Shovel Wins the Deal on Shark Tank. Given that Maddox received his first grant at the age of 13, this is a significant accomplishment for him. We’re hoping that in the future he can turn into a successful businessman.
What Is the Net Worth of The Measuring Shovel?
The current estimated value of the Measuring Shovel is $250,000. We don’t currently have a lot of information on this company at our disposal. We’ll keep you informed on this post if any new information becomes available.
Is The Measuring Shovel Still In Business?
The Massuring Shovel’s official website and social media accounts are up to date as of June 2023, but the product is not in stock.
Indeed, as of June 2023, The Measuring Shovel is still operating.
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