Splikity is a password-management application with a simple and intuitive interface.
In this tech-driven era, forgetting passwords is anyone’s worst nightmare; Splikity, is a powerful antidote, designed to save, manage, and remember your passwords for you, while also allowing you to backup and sync your passwords across multiple devices.
In addition, you can use the app to protect your password against cybercriminals looking to hack into your accounts and steal sensitive data. Since Splikity stores all your passwords for you, you will not have to worry about creating easier passwords out of fear of forgetting them.
Splikity has a military-level encryption, and it does not even own the encrypted-data key.
Brothers Doug and Chad Clark from Paradise Valley, Arizona, are the co-founders of Splikity.
One day, as a prank, the brothers’ friends decided to hack their shared eBay account, and placed bids on unwanted or useless items.
Even though the prank was relatively harmless, it made the Clark brothers consider the vulnerabilities and weaknesses of online security. They realized that not everyone might be as lucky as them, and could suffer serious consequences as a result of getting their password hacked or leaked.
It was then that the brothers decided to work on creating a password-management application that would help users save their passwords and also offer greater protection against scammers, hackers, and other types of cybercriminals.
In 2015, they came up with Splikity – an app that not only stored and managed your passwords, but allowed you to log in to any account or website without having to actually enter your username or password.
Initially, the brothers were able to generate decent revenue through the app, even without indulging in marketing or promotional efforts. However, as the space became more competitive, Chad and Doug realized that they would need additional funding and marketing to stay competitive and, therefore, decided to turn to Shark Tank.
Is Splikity Still an Active Business?
As of early 2022, Doug’s LinkedIn page shows that the business is still operational. The business website is also operational, but its social media profiles have not posted anything in quite some time. In addition, the app only has five reviews on the Apple Store.
How Did the Shark Tank Pitch Go?
The Clark brothers made their Shark Tank appearance on the seventh season of the show, and were seeking an investment of $200,000 in exchange for a 20% stake in Splikity – a company valuation of $1 million.
The brothers do concede that they do not have a technical background. Upon hearing this, Mark immediately said that he is out, since this tool would provide a field-day for hackers looking to steal people’s credentials. Chad responds that they have a team working on security breaches. Mark, however, had very serious objections, and nothing the co-founders said could make him budge.
Kevin says that the brothers needed to be very careful since they were ‘about to be fried’. Lori came to the brothers’ rescue, saying that Kevin was perhaps being overly harsh and that he should ‘give them a chance’.
Robert sells security systems to major corporations, and therefore, has a lot of experience in this field. He now joins the discussion, saying that the brothers probably did not understand the way in which the security space worked. He further added that the password problem has been prevalent for many years, and that it needed more than a flighty solution. Robert did not say more, but whatever he said was enough to assume that he saw Splikity as little more than a flighty app.
Lori said that her years in the retail space had made her realize that males and females approach the same product in very different manners, and wanted to know if the app would come off as simple to a ‘non-techy’ female. Robert chimed in, saying that security had nothing to do with gender. Barbara also wanted to know more about the product.
Robert Herjavec thought ‘enough is enough’ and told the brothers that, even though they had a fundamentally sound idea, the brothers’ inexperience in the field meant that their product was ripe with potential problems. He felt that Splikity was destined to doom, and therefore, he was out.
Barbara Corcoran was happy to admit that she was far from a tech-geek. She said that she did not understand what made the brothers’ app so special and, if she could not understand that, there was no chance for her to make money off of it. She was out. Lori Greiner, too, excused herself for similar reasons. She said that if she could not understand the benefits of Splikity, a lot of the customers would not be able to either. Lori did believe that the app would help many people, but from an investment point-of-view, she was not interested.
This only left Mr. Wonderful, who was willing to offer a $200,000 venture debt. He said that he would collect a 10% cut in the profits until his debt was repaid; from that point on, he would take 5% equity in the business. The Clark brothers passed on this offer, and Kevin, too, stepped out of the deal.
Ultimately, the security app could not secure a deal for itself, and the brothers had to leave the Tank without one.
Our Review of Splikity:
The best part about Splikity is its intuitiveness and simplistic interface. Unfortunately, apart from that, there is not much to write home about: the app only offers a very basic vault for password, and no other related features like a password generator, password sharing, or two-factor authentication. And, to top it all off, even these basic features are only available to paid subscribers; other apps, such as Roboform and Keepass, provide these features for free.
- Easy to operate
- Quick and precise automatic-login
- Compatible with pretty much any device
- Only saves passwords and no other details
- No two-factor authentication
- Only has a paid version
- Cannot be accessed offline
Are There Any Alternatives?
Below are a few alternatives to Splikity:
Our Final Thoughts:
Splikity was established to free people of the need to remember passwords, while also helping them enhance their online security. However, with the emergence of bigger and more sophisticated players, it seems that the Clark brothers’ simplistic and rather basic app is struggling to make a place for itself within this space.