In episode 15 of Shark Tank Season 5, an experienced guitarist and entrepreneur Daryl Stevenett featured LifeCaps, a survival pill supplement. Daryl sort of offers a solution to people who go days without a meal, particularly during calamities. This pill was a life-saving product and safe for all ages. It contains essential vitamins, minerals, and water.
Daryl featured his idea to the Sharks in 2008, seeking $200,000 for a 30% stake in LifeCaps. The sharks listened to him. But did they agree to seal a deal with him? Keep reading to learn what happened to LifeCaps after Shark Tank and get its status to date.
LifeCaps Overview in Shark Tank
| Company Name | LifeCaps |
| Episode | Season 5 Episode 15 |
| Product Offering | A survival supplements Food pill for emergency situations. |
| Founded | 2008 |
| Founder | Daryl Stevenett |
| Required Investment | $200,000 For 30% stake in LifeCaps |
| Closing Deal | No deal |
| Shark | No Shark |
| Current Business Status | Out of business |
What is LifeCaps?
LifeCaps are survival pill supplements alternative for use during food supply shortages. The pill contains a set of essential vitamins and nutrients that every human need to survive. It is chewable and safe for use by both adults and children despite their ages.
The pills are all-natural, meaning they have zero chemicals. Daryl used LifeCaps and water for two weeks and survived without any issue. The success inspired him to get it into the market to ensure it gets to everyone’s table, particularly those in refuge due to natural calamities and disasters.
How Does LifeCaps Work?
LifeCaps are a blend of essential multivitamins. The pills are suitable for healthy users and can help them to survive for up to two weeks. They are useful during emergencies and effective during natural disasters that impact food supplies.
All one need is to chew the pills and drink some water. Since it has every nutrient you need in your body, it will keep you healthy. The entrepreneur markets them as weight-loss and nutritional supplements.
Who Founded LifeCaps?
The mind behind LifeCaps is Daryl Stevenett, and a guitarist turned entrepreneur. According to his LinkedIn profile, Daryl is a musician and has been playing the guitar since he was 12 years. He founded LifeCaps in 2008.
Daryl’s idea of developing LifeCaps was an inspiration by a survival TV broadcast. The program featured miners from Utah that were buried underground for days. These miners went for days without days. The savers had to dig through the rocks to supply some food to them until a plan was to get them out of the thicket.
LifeCaps Business before Shark Tank
Daryl approached Russ Bianchi, a product formulator, for help. Together with Russ, they developed a pill that was a solution during life-threatening situations. The duo got the product into the production line and claimed to have made up to $400,000 in 5 years.
He also sold it on Amazon but received mixed reactions and reviews. The lack of FDA approval also raised some concerns. Upon this realization, Daryl needed more investment to enhance clinical research, marketing, and production. This inspired him to approach the Sharks.
LifeCaps During Shark Tank Pitch
Daryl Stevenett appeared in Episode 15 of Shark Tank’s Season 5. He was seeking a $200,000 investment for a 30% stake in LifeCaps. He started his pick by posing a question and his appearance health-wise. He informed the panel that he had gone for 8 days without food and surviving on the LifeCaps pills.
Daryl shared the background about his life as a musician and how the LifeCaps idea came to be. He distributes samples to the Sharks, but Mark Cuban would not take one. he does not easily fall for anything dubbed wonder drug, specifically ones on the nutritional niche. Daryl cleared the air by citing that LifeCaps was not a diet supplement. Rather it is a survival pill. He disclosed that the product had made $400,000 in sales over the last 5 years.
Mark Cuban was the first to bow out. He claimed that Daryl is selling a diet medication without labelling it as such. He referred to the product as “snake oil.” Mark also questioned why he had not acquired FDA approval despite making $400,000 in sales. He noted that the product was good, but the lack of safety confirmations raised questions. Lori Greiner questioned the accountability of the pills, citing the lack of clinical trials, yet it had many sales. She too, was out.
Robert Herjavec referred to the pill as irresponsible. He agreed with Greiner and bowed out too. Despite this, Daryl went on to explain the effectiveness of LifeCaps, claiming that it helps lose a pound per day. Daymond felt that this product is a diet supplement and was not in it until there were clinical tries confirming its safety. Daryl stated that he intended to perform clinical trials but did not have the capital to carry them, which was one of the reasons why he was in the Shark Tank. Daymond is out too.
Kelvin is the remaining Shark. Will he too, follow his colleagues? He questions himself if he will invest in the company. He, too, follows his colleagues’ verdict and leaves the pitch.
LifeCaps Closing Deal in Shark Tank
Daryl did not succeed in closing a deal in Shark Tank. The lack of clinical trials to ascertain the safety of the LifeCaps was the main reason why the Sharks were reluctant to invest in the company.
LifeCaps After Shark Tank
Daryl left without a deal as all Sharks bowed out. Despite this, he continued offering his product on Amazon. The mixed reviews earned him a 3-star rating. Some buyers noted that the product was no different from other diet supplements, yet it cost 10 times more than other multivitamins.
Also, others noted that it had zero effects on curbing hunger. The disclosure of the lack of clinical tests during the pitch when onto hurting LifeCaps sales after the show. He did not get the cash needed for the clinical trials and creating distribution networks.
Current Update: Is LifeCaps Still In Business?
LifeCaps is no longer in business. Its website went down, and the social media platforms have been in action. As of August 2022, Amazon had also removed LifeCaps from its product listing. Daryl’s failure in the Shark Tank was a setback. He has not been able to raise the needed capital for clinical trials. So, he discontinued tablet production.
However, REJ Diamond Pharmaceutical (a Diamond Laboratories subsidiary based in the Philippines) obtained the naming rights. They offer products with the name LifeCaps which are different from what Daryl was selling.
FAQs about LifeCaps
How much does the product cost?
Daryl offered LifeCaps as a package of 180 tablets for $49.99.
How does LifeCaps help you?
LifeCaps was an alternative survival supplement for use in areas with food shortage supplies or cases of natural calamity emergencies. It contained essential nutrients and vitamins that could sustain a person for up to 14 days taking the pills and water alone.
Why did LifeCaps Shut down?
LifeCaps failure to get the much-needed investment at the Shark Tank show was a significant setback. Lack of funding and investors made conducting clinical trials hard, leading to the company’s failure. The product got a poor rating on Amazon, which impacted their sales.
What is the net worth of LifeCaps?
LifeCap’s net worth during and after the Shark Tank pitch was $666,667, considering that he was offering a 30% stake for $200,000. However, LifeCaps is no longer in business. So, no one knows its current net worth.
What is Daryl Stevenett’s net worth?
The net worth of Daryl Stevenett is estimated to be about $700,00.
Was LifeCaps limited for use for a particular age group
No. According to Daryl, LifeCaps were designed for general consumption. Both adults and children of all ages.
What was the content of the LifeCaps?
LifeCaps was an all-natural product made up of multivitamins and essential minerals that one needs to survive.
Did LifeCaps have any side effects
LifeCaps had no side effects. However, the ratings on Amazon cited various side effects though it’s hard to prove if they were from genuine users.
Where can I buy LifeCaps
LifeCaps was being sold on Amazon. However, the products are no longer available as the business is out of business. So, LifeCaps pills are no longer available.
Why did Daryl fail to secure a deal during the Shark Tank pitch?
The lack of clinical trials might have been why Daryl failed to secure a deal with the Sharks. The entire panel raised concerns about the efficiency and safety of the pills since they didn’t have FDA approval.
Also, they raised questions on the validity of the sales claims. These aspects caused a lack of trust and reluctance of the Sharks to invest in LifeCaps, leaving Daryl without a deal.
Did Daryl try crowdfunding for LifeCaps?
No. Daryl did not run a crowdfunding campaign for LifeCaps. Since he was a musician and guitarist, he may have used savings from this job to fund LifeCaps operations.
