Candi Shark Tank Update (Season 13)

Candi is a social networking platform that allows fans to video chat with their favorite celebrities for a fee. The pricing varies based on each celebrity’s popularity, ranging from $20 to $200 per session.

To initiate a video chat, users visit the Candi website, select a celebrity, and make the required payment. Once the payment is processed, Candi staff connects the user with the celebrity via a Zoom call.

The platform requires a minimum payment of $5 for a 5-minute video chat, with additional charges applicable for extended time.

Candi features a diverse lineup of celebrities and influencers, including Mya, Roby Dixon, Sisqo, Justina Valentine, Rosa Acosta, and many others.

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Who Is The Founder Of Candi?

Candi was co-founded by Quiante Hedrick and Keithan. Quiante, an attorney, earned her Doctor of Laws from the Chicago-Kent College of Law at the Illinois Institute of Technology. She has also been a triage volunteer at the Community Health Clinic for six years.

How Was The Shark Tank Pitch Of Candi?

Keithan and Quiante Hendrick pitched their business, Candi, on Shark Tank, seeking $500,000 for 15% equity. They explained their platform, which allows fans to have virtual five-minute conversations with celebrities.

Each celebrity receives 75% of the fee charged, while Candi retains 25%. The prices for conversations range from $5 to $400, with the Candi team negotiating rates to keep them reasonable.

At the time of their pitch, Candi featured 350 celebrities and influencers and had successfully facilitated 2,000 virtual meet-and-greets. The business had generated $100,000 in revenue without any paid marketing; instead, celebrities promoted the platform through their social media channels.

However, the sharks were not convinced. Kevin Hart felt it was too early for him to invest, while Mark Cuban found the numbers unappealing. Kevin O’Leary believed that $50,000 was a reasonable investment but not $500,000.

Barbara Corcoran thought the asking price was too high, and Lori Greiner expressed a lack of confidence in the business’s growth potential. Ultimately, all the sharks declined to invest.

Finalize: Candi didn’t get the deal on Shark Tank.

Candi Shark Tank Update

The primary reason Candi did not secure investment on Shark Tank was the disparity between their revenue and the amount they requested. With total sales of $100,000 and a net profit of only $25,000, co-founder Keithan sought $500,000, which raised concerns among the sharks.

After the episode aired, many viewers on Twitter expressed their appreciation for the co-founders’ story. However, as of January 2023, Candi had not launched a mobile app, despite the growing preference for mobile applications over web-based platforms.

Following the airing of their episode, Quiante posted a video message on Instagram expressing gratitude for the opportunity to share their story.

Since then, Candi has expanded its offerings, adding more influencers and celebrities to the platform. They also introduced a feature that allows users to send emails to celebrities.

We’ll keep an eye on Keithan and Quiante Hendrick, along with Candi, for any further updates.

What Is Candi’s Net Worth?

Candi, which sought investment from the sharks at a valuation of $3.3 million, has claimed to achieve a $1 million valuation within just three months of its launch. The platform features a variety of celebrities, including actors, athletes, chefs, comedians, entrepreneurs, and fitness influencers.

Candi is headquartered in Chicago, Illinois, and operates with a small team of 2 to 5 employees. Despite the challenges, the co-founders remain hopeful for future growth and expansion of their unique virtual meeting platform.

Yes, Candi is still in business as of April 2024.