Max Liechty and Kausi Raman both come from a product design background. They met while pursuing their master’s degree in product design at the University of Pennsylvania.
Kausi noticed that designing on cardboard was unsafe and difficult for kids, so she teamed up with Max to create safe, specially designed cardboard cutting tools for children. Their company, Chomp Shop, makes kid-friendly tools that help children build and create fun projects safely.
They appeared on Shark Tank Season 16, asking for $250,000 for 5% equity at a $5 million valuation. Eventually, they secured a deal with Mark Cuban and Lori Greiner for $250,000 in exchange for 15% equity, bringing their valuation down to $1.67 million.
| Company Name | Chomp Shop | |
| Founder | Max Liechty and Kausi Raman | |
| Founded | 2022 | |
| Product | Safe tools for kids | |
| Asked For | $250K for 5% equity | |
| Final Deal | $250K for 15% equity | |
| Sharks | Mark Cuban and Lori Greiner | |
| Episode (Shark Tank USA) | S16 E5 | |
| Air Date | Nov 15th, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Philadelphia, Pennsylvania, USA | |
| Lifetime Worth (Sales) | $2.5 Million *estimated | |
| Valuation | $5 Million | |
Who Is The Founder Of Chomp Shop?
Chomp Shop was founded in 2022 by entrepreneurs Max Liechty and Kausi Raman, both of whom have a background in product design.
Before starting their business, they both completed an internship as studio technicians at Venture Lab.
How Was The Shark Tank Pitch Of Chomp Shop?
After demonstrating their ChompSaw product to the Sharks, Max and Kausi explained that they provide special instructions on how to use it. Kausi also shared that they are working on a monthly subscription model for cardboard projects. Subscribers will receive materials each month to complete a project, with different themes and concepts to keep it exciting.
When Barbara Corcoran asked about the target age group for the product, Max said it is designed for kids aged 8 and above. Kevin O’Leary was curious about the company’s $5 million valuation.
Kausi revealed that they started taking pre-orders less than a year ago and have already received $2.1 million in pre-orders, though they haven’t delivered any products yet.
The ChompSaw machine sells for $230, with a production cost of $73.81. Max mentioned that they are in discussions with their factory in China and expect to fulfill all orders within a few months.
Currently, they operate as a direct-to-consumer (D2C) brand, but they plan to enter retail, though margins could be a challenge.
Guest Shark Rashaun Williams asked how much funding they had raised so far, and Kausi replied that they had received $5,000 from family members. Kevin O’Leary offered $250,000 for 20% equity.
Rashaun felt the business was too early for investment, so he opted out. Barbara Corcoran also offered $250,000 for 20% equity. However, Mark Cuban and Lori Greiner teamed up to offer $250,000 for 15% equity. Without hesitation, Max and Kausi accepted Mark and Lori’s offer.
Breakdown Sharks Offer
Note: Here’s a quick summary of the offers and counteroffers between the Sharks and Max Liechty and Kausi Raman:
| Sharks | Offers |
| Kevin O’Leary | $250k for 20% equity |
| Barbara Corcoran | $250k for 20% equity |
| Mark Cuban | $125k for 7.5% equity |
| Rashaun Williams | No Offer |
| Lori Greiner | $125k for 7.5% equity |
| Founder’s (Countered) | No Counter |
| Final Deals | $250k for 15% equity (Lori & Mark) |
Chomp Shop Shark Tank Update
Chomp Shop is selling its cardboard cutting tool, ChompSaw, for $249. In addition to this, they offer other tools such as a hole punch, scoring tools, digital project files, 3D-printed cardboard nuts and bolts, and a table accessories set.
After their episode aired, they announced on November 30, 2024, that all pre-orders had been shipped, and they were ready to fulfill new orders. They also revealed that by the end of 2024, they had shipped 18,000 units. To maintain better quality control, they have moved their manufacturing from China to the United States.
What Is Chomp Shop Net Worth?
Chomp Shop secured an investment from the Sharks in 2024 at a $1.67 million valuation. Since then, the company has experienced significant growth in sales. Based on an estimated annual growth rate of 10-15%, Chomp Shop’s current net worth could be around $1.9 million.
