Many people avoid drinking too much caffeine because it can cause side effects like sleeping issues, anxiety, and stomach problems. However, caffeine also has benefits, such as increasing brain and nervous system activity.
Michael Schiavone is one of those people who have been advised to avoid too much caffeine. However, he found it difficult to know caffeine was in his coffee. To solve this problem, he invented Caffeindicator, a test strip that detects caffeine in beverages.
Did the sharks invest in Michael’s business? Let’s find out what ultimately happened to his venture.
| Company Name | Caffeindicator | |
| Founder/Co-Founder | Michael Schiavone | |
| Founded | 2008 | |
| Product | Caffeine Detector | |
| Asked For | $200k for 25% equity | |
| Final Deal | $200k for 50% equity | |
| Shark | Kevin Harrington | |
| Episode | S1 E13 | |
| Air Date | Jan 29th, 2010 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Manheim, Pennsylvania, United States | |
| Lifetime Sales | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Michael asked the sharks for $200,000 in exchange for 25% equity in his company. He demonstrated his caffeine detector product, showing how the paper changes color in the presence of caffeine.
This paper detects the presence of caffeine in beverages but does not indicate the percentage of caffeine.
One great thing is that Michael has patented the product. He explained that he needs $200,000 to cover licensing and attorney fees and also needs the sharks’ help.
Barbara Corcoran and Daymond John think this product is not very useful, so they are out.
Robert Herjavec offered $200k for 60% equity with the condition that Michael must make a deal with one of the major sweetener companies. Kevin Harrington offered $200k for 50% equity under the same condition.
Michael decided to accept Kevin’s offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | $200k for 50% equity |
| Kevin O’Leary | No Offer |
| Robert Herjavec | $200k for 60% equity |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counters |
| Final Deals | $200k for 50% equity |
Caffeindicator Shark Tank Update
After researching Caffeindicator, we found out that Kevin and Michael’s deal did not go through, and the final product was never launched in the market. Sadly, Caffeindicator had to shut down before even starting its business.
This is our complete update on Michael Schiavone and his Caffeindicator company.
Below are updates shared about more businesses from Season 1.
