Know XCRAFT's NET WORTH - AFTER SHARK TANK!

Offering customers a customized drone, the two friends who founded the drone company XCraft hoped to capture a piece of the $100 billion industry.

They went to the Shark Tank in 2015 with the hope that the sharks’ support would enable them to benefit from a developing industry.

Know XCRAFT's NET WORTH - AFTER SHARK TANK!
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Sharks appeared excited and valued their business at about $6 million at the moment. But was everything as expected?

WHAT XCRAFT IS?

Unmanned aerial systems, or UAS, are made by the business XCraft. The XCraft products may be altered by adding or removing elements like cameras.

The X PlusOne and Phone Drone are only a couple of the company’s offerings. With the latter, you can mount a smartphone on the drone to make use of its camera.

Although the drones have several uses, they are primarily designed as business drones.

BEFORE SHARK TANK: THE XCRAFT STORY

Charles Manning and JD Claridge first meet at the beginning of the XCraft narrative. They had a passion for business and aviation, two very different subjects. They saw this as a sector they wanted to participate in because there was such a need for drones at the time (this was back in 2014).

Know XCRAFT's NET WORTH - AFTER SHARK TANK!

They developed drones, starting with the XPlusOne, but they need funding from Kickstarter to do so. This further demonstrated that they had chosen the proper industry since the response to their ideas was so positive that they ended up making more money than they had anticipated.

They went to Shark Tank because it costs a lot of money to make a high-tech product work in the market.

On a shark tank, XCRAFT

Their original objective was to raise $500 000 for XCraft and part with 20 percent of their shares. To learn more about their firm, the sharks put them through a taxing round of questioning.

What, for example, set them apart from many other newly established drone manufacturers? Some of the sharks were persuaded to desire a piece of the company when the two cited their intellectual property and licensing prospects.

Everyone then yearned to enter.

One of the rare businesses that can claim that all the sharks wanted to associate with them AND that they received a collective offer from all the sharks is XCraft. They even received more money than they anticipated!

Know XCRAFT's NET WORTH - AFTER SHARK TANK!

All five sharks participated in the transaction, and they left with an offer of $1.5 million for 25% of the business.

THEN WHAT HAPPENED? DID THE AGREEMENT PASS?

Shark Tank helped the firm gain publicity, although several sources, like Shark Tank Tales, think the sale didn’t truly go through.

According to Gazette Review, the business is still operating successfully, offers a range of goods, and has raised money from other methods like crowdfunding to continue operating.

XCRAFT’S CURRENT LOCATION

Offering a range of drone types that may be used for military, mining, construction, surveying, and public safety applications, XCraft appears to be extremely successful and is still inventive. According to their website, you may even invest directly in the business.

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Amazon displays products, but there isn’t always stock available.

Regarding the innovators, you can run across them speaking at JCATI symposiums, developing new drones, or engaged in other projects. They cannot be stopped!