What happened to Flated after their appearance on Shark Tank Season 14? Flated, the company that makes inflatable rooftop cargo carriers and truck toppers, successfully secured a deal with Daymond John on Shark Tank Season 14. The deal involved Daymond investing $350,000 for a royalty-based agreement. Flated has continued to grow and innovate since their appearance on the show.
Summary
- Flated appeared on Shark Tank Season 14 seeking $350,000 for 5% equity.
- They secured a deal with Daymond John for $350,000 with a royalty-based agreement.
- The company has continued to grow and expand its product line since the show.
- Flated has received positive customer feedback and media attention.
- They have plans for further innovation and market expansion in the future.
Flated Shark Tank Update | Shark Tank Season 14
Flated is a groundbreaking company that is transforming the way we think about automotive storage. They specialize in creating innovative, high-quality, drop-stitch inflatable accessories designed for cars, trucks, and SUVs.
Founded in 2020 by experts in outdoor gear and stand-up paddleboards, Flated has gained recognition for inventing the world’s first inflatable truck topper and rooftop cargo carrier.
Their products offer a unique blend of convenience, portability, and durability, addressing the challenges of traditional storage solutions.
Flated’s Shark Tank Season 14 Debut
Flated’s founders, Monique Keefer, Ryan Guay, and Ken Hoeve, made a splash on Shark Tank Season 14. They entered the tank seeking $350,000 for a 5% equity stake in their company.
Their pitch focused on the innovative nature of their products, emphasizing their convenience, ease of use, and potential for disruption in the automotive accessory market.
The founders showcased their flagship products, including the inflatable truck topper and rooftop cargo carrier, highlighting their versatility and space-saving advantages.
The Shark Tank Pitch
Entrepreneurs | Monique Keefer, Ryan Guay, Ken Hoeve |
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Business | Flated |
Ask | $350,000 for 5% equity |
Deal | $350,000 for 8% royalty until recoupment, then 5% in perpetuity |
Sharks | Daymond John |
Season | 14 |
Original Air Date | March 10, 2023 |
Website | Flated |
Key Points of Pitch |
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Why Sharks Accepted |
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The sharks were intrigued by Flated’s unique value proposition and the founders’ passion for their products.
Daymond John, in particular, recognized the potential for Flated to revolutionize the automotive storage industry and offered a deal that aligned with the company’s growth trajectory.
The deal involved a royalty-based structure, allowing Flated to retain more equity while providing Daymond with a stake in the company’s success.
The Shark Tank Deal
Flated’s Shark Tank appearance culminated in a strategic partnership with Daymond John, a seasoned investor known for his expertise in the consumer goods and lifestyle industries.
Daymond recognized Flated’s potential to disrupt the automotive accessory market with its innovative and practical approach to storage solutions.
1. Daymond John’s Investment
Daymond committed $350,000 to Flated, a significant investment that not only provided the company with crucial funding but also validated its business model and growth potential.
Daymond’s experience and network within the industry were invaluable assets for Flated, offering guidance and opportunities for expansion.
2. Terms of the Agreement
The agreement between Flated and Daymond John was structured as a royalty deal, rather than the traditional equity-based arrangement. This unique approach allowed Flated to retain more ownership in their company while ensuring Daymond a share in their future success.
The specific terms of the deal involved Daymond receiving an 8% royalty on every unit sold until he recouped his initial investment. Once his investment was recovered, the royalty would decrease to 5% in perpetuity.
This royalty-based structure incentivized Flated to focus on sales growth while providing Daymond with a sustainable return on his investment.
Flated’s Growth After Shark Tank
Flated’s journey after Shark Tank has been marked by significant growth and expansion. The company has leveraged its newfound visibility and resources to solidify its position in the market and further develop its product offerings.
1. Expanding Product Line
Since its Shark Tank appearance, Flated has expanded its product line beyond its flagship inflatable truck topper and rooftop cargo carrier.
They now offer a diverse range of inflatable automotive accessories, catering to various needs and preferences.
Their expanded product line includes inflatable tents, awnings, and even inflatable pet carriers, demonstrating their commitment to innovation and meeting the evolving demands of consumers.
2. Sales and Revenue Growth
Flated’s sales have experienced a substantial boost since their Shark Tank debut. The increased exposure and brand recognition gained from the show have translated into higher demand for their products.
This surge in sales has resulted in significant revenue growth, further fueling Flated’s expansion and development efforts.
3. Customer Reviews and Feedback
Flated’s products have garnered overwhelmingly positive reviews from customers. Users praise the convenience, ease of use, and durability of Flated’s inflatable accessories.
The company’s commitment to quality and customer satisfaction has fostered a loyal customer base, further solidifying its reputation as a leader in the inflatable automotive accessory market.
Marketing and Media Attention
Flated’s Shark Tank appearance propelled the company into the spotlight, generating significant media attention and expanding its reach through strategic marketing efforts.
1. Flated’s Social Media Presence
Flated has harnessed the power of social media platforms to connect with its audience and build a vibrant online community.
Their engaging content showcases the versatility and convenience of their products through eye-catching visuals and user-generated testimonials.
By leveraging social media, Flated has fostered brand awareness, encouraged customer interaction, and cultivated a loyal following.
2. Media Coverage and Features
Flated’s innovative products and inspiring story have captured the interest of various media outlets. They have been featured in prominent publications and online platforms, gaining exposure to a wider audience.
This media coverage has further solidified Flated’s brand reputation and contributed to its continued growth.
Future Plans for Flated
Flated’s vision extends far beyond its current achievements. The company has ambitious plans to further innovate, expand its market presence, and forge strategic partnerships.
1. New Product Development
Flated remains committed to pushing the boundaries of inflatable technology. They are actively engaged in research and development, exploring new materials, designs, and applications for their products.
Their goal is to continuously improve their offerings and introduce even more innovative solutions to the market.
2. Market Expansion
Flated aims to expand its market reach both domestically and internationally. They are exploring opportunities to partner with retailers and distributors in new regions, making their products accessible to a wider audience.
By expanding its market presence, Flated can tap into new customer segments and drive further growth.
3. Partnerships and Collaborations
Flated recognizes the value of collaboration in achieving its goals. The company is actively seeking partnerships with other industry leaders, outdoor enthusiasts, and organizations that share its vision for innovation and sustainability.
These collaborations have the potential to unlock new opportunities, drive product development, and create mutually beneficial relationships.
FAQs
How much does a Flated product cost?
Prices for Flated products vary depending on the specific item and its size. You can find the most up-to-date pricing information on their website or through authorized retailers.
Where can I buy Flated products?
Flated products are available for purchase on their official website and through various online and brick-and-mortar retailers. Check their website for a list of authorized dealers near you.
What are the benefits of using Flated products?
Flated products offer several advantages, including:
- Convenience: They are easy to inflate and deflate, making them highly portable and convenient for storage.
- Durability: Made from high-quality materials, Flated products are designed to withstand rugged outdoor conditions.
- Space-saving: When deflated, they take up minimal space, making them ideal for those with limited storage capacity.
- Versatility: Flated products can be used for a variety of purposes, from camping and road trips to everyday hauling needs.
Is Flated environmentally friendly?
Flated is committed to sustainability and minimizing its environmental impact. They use eco-friendly materials and manufacturing processes whenever possible. Additionally, their products’ reusability and long lifespan contribute to reducing waste.
The Bottom Line
Flated’s journey from a Shark Tank pitch to a thriving business is a testament to the power of innovation, perseverance, and strategic partnerships. Their inflatable automotive accessories have redefined the way we approach storage, offering practical, convenient, and eco-conscious solutions for outdoor enthusiasts and everyday users alike.
With a commitment to continuous improvement, market expansion, and strategic collaborations, Flated is poised for continued growth and success. As they continue to innovate and expand their product offerings, Flated is set to leave a lasting impact on the automotive accessory industry and beyond.