Did Tenikle get a deal on Shark Tank Season 13? Yes, Tenikle successfully secured a deal on Shark Tank Season 13. Daymond John invested $200,000 for a 30% stake in the company.
Summary
- Tenikle, a suction tripod and mount, appeared on Shark Tank Season 13.
- The founders initially sought $200,000 for 10% equity.
- Daymond John offered $200,000 for 30% equity, which was accepted.
- The deal will help Tenikle expand its reach and product line.
Tenikle Shark Tank Update | Shark Tank Season 13
Tenikle, the innovative suction tripod and mount, made a splash on Shark Tank Season 13, capturing the attention of viewers and investors alike.
The product’s ingenious design and practical applications resonated with the Sharks, ultimately leading to a lucrative deal.
Tenikle’s Shark Tank Pitch
| Entrepreneurs | Hans Dose & Jackeline Dose |
|---|---|
| Business | Tenikle |
| Ask | $200,000 for 10% |
| Deal | $200,000 for 30% |
| Sharks | Daymond John |
| Season | Season 13 |
| Original Air Date | November 12, 2021 |
| Website | Tenikle |
| Key Points of Pitch |
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| Why Sharks Accepted |
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1. Problem Tenikle Solves
Tenikle addresses the common frustration of finding stable and versatile mounts for cameras, smartphones, and other devices.
Its unique suction design allows users to securely attach their devices to various surfaces, enabling hands-free use and creative photography or videography.
2. Product Demonstration
During their Shark Tank pitch, the Tenikle entrepreneurs showcased the product’s adaptability and ease of use.
They demonstrated how Tenikle can adhere to smooth surfaces like glass, metal, and even some textured surfaces, providing a reliable grip for capturing photos and videos from unique angles.
3. Target Market
Tenikle appeals to a wide range of users, including photographers, videographers, vloggers, adventurers, and anyone who needs a flexible and portable mounting solution for their devices.
The product’s versatility and user-friendly design make it an attractive option for both professionals and casual users.
4. Financial Projections
While specific financial figures were not disclosed during the pitch, the Tenikle team likely presented data on sales, production costs, and profit margins to support their valuation and investment request.
Their financial projections would have demonstrated the potential profitability of the product and the scalability of the business.
Shark Tank Negotiations
1. Initial Offer and Counteroffers
The Tenikle entrepreneurs initially sought $200,000 for a 10% stake in their company.
However, the Sharks saw the potential for a higher valuation, leading to counteroffers. Several Sharks expressed interest, but their offers involved a larger equity stake.
2. Sharks’ Concerns and Questions
The Sharks raised valid concerns about the product’s differentiation from existing mounts and potential competition.
They questioned the sustainability of Tenikle’s competitive advantage and the scalability of its manufacturing process.
The entrepreneurs addressed these concerns by emphasizing Tenikle’s unique design, versatility, and strong intellectual property protection.
3. Daymond John’s Investment
Daymond John, known for his expertise in branding and marketing, saw the potential in Tenikle and offered $200,000 for a 30% equity stake.
The entrepreneurs carefully considered this offer, weighing the benefits of Daymond’s expertise and network against the dilution of their ownership.
Ultimately, they decided to accept Daymond’s offer, recognizing the value he could bring to the table in terms of brand development and market expansion.
Tenikle After Shark Tank
1. Update on Sales and Growth
Following the Shark Tank appearance, Tenikle experienced a significant surge in sales and brand awareness.
The exposure on national television and the endorsement from Daymond John led to increased demand for the product. This allowed Tenikle to expand its reach and capture a larger market share.
2. Expansion of Product Line
Leveraging the Shark Tank investment, Tenikle has been able to diversify its product line. The company has introduced new variations of the original suction mount, catering to specific user needs and preferences.
These include mounts designed for action cameras, smartphones, and even tablets. This expansion has opened up new revenue streams and attracted a wider range of customers.
3. Partnership with Daymond John
The partnership with Daymond John has proven invaluable for Tenikle. Daymond’s expertise in branding and marketing has helped elevate the brand’s image and visibility.
He has also provided guidance on product development, distribution, and retail partnerships, enabling Tenikle to reach new heights.
The Future of Tenikle
1. Vision for the Company
Tenikle envisions a future where its innovative mounts become an essential accessory for anyone who uses a camera or mobile device.
The company aims to establish itself as the go-to brand for versatile, reliable, and user-friendly mounting solutions.
Tenikle aspires to foster a community of creators who can capture their world from any angle, thanks to the convenience and flexibility of their products.
2. Goals and Plans
Tenikle has ambitious plans for growth and expansion. The company aims to continue innovating and developing new products that cater to evolving user needs.
They plan to explore new markets and distribution channels, both domestically and internationally.
Tenikle also seeks to strengthen its online presence and build a loyal customer base through engaging content and exceptional customer service.
3. Impact of Shark Tank Investment
The Shark Tank investment has been a catalyst for Tenikle’s success. The financial boost, coupled with Daymond John’s expertise and network, has accelerated the company’s growth trajectory.
The investment has not only facilitated product development and market expansion but also instilled confidence in the brand, attracting further investment and partnerships.
FAQs
What is Tenikle?
Tenikle is a versatile suction tripod and mount designed for cameras, smartphones, and other devices. Its unique design allows users to securely attach their devices to various surfaces for hands-free use.
Who invested in Tenikle on Shark Tank?
Daymond John, a renowned entrepreneur and Shark Tank investor, invested $200,000 for a 30% stake in Tenikle.
How has Shark Tank impacted Tenikle?
The Shark Tank appearance catapulted Tenikle to new heights. The investment and mentorship from Daymond John enabled the company to expand its product line, reach new markets, and enhance its brand image.
The Bottom Line
Tenikle’s journey on Shark Tank exemplifies the power of innovation, perseverance, and strategic partnerships. The company’s success story serves as an inspiration for aspiring entrepreneurs and a testament to the transformative impact of the Shark Tank platform. With a bright future ahead, Tenikle is poised to revolutionize the way people capture and share their world.
