Have you ever been in a situation where your phone dies, and you are left stranded without a charger? It’s frustrating and inconvenient, especially when you’re on the go or traveling.
Jeff Popp and Casey Lorenzen, two passionate entrepreneurs, understood this common problem. They wanted to solve it in a way that was smart and simple. They came up with CO.ALITION backpacks. These backpacks had special features like built-in chargers and WiFi hard drives. The idea was to create a backpack that not only carried your things but also helped you stay connected and charged.
They brought their innovative bags to Shark Tank in Season 7. Their goal was to impress the sharks and secure funding. The founders requested $200,000 for 20% equity. Did the entrepreneur get a deal on Shark Tank? Check out our Co.Alition update to find out!
Co.Alition Net Worth Shark Tank Update 2025
Jeff Popp and Casey Lorenzen went on Shark Tank asking for $200,000 for 20% of their company. This meant they thought their business was worth $1,000,000. They did not make a deal with any Shark. The episode was aired in February 2016. The company later closed and stopped selling its tech-powered backpacks. The current net worth of CO.ALITION is $0 in 2025.
The journey of CO.ALITION had its ups and downs after appearing on Shark Tank. At first, the backpacks gained attention and did well in stores like REI. The unique features, such as the built-in chargers and WiFi hard drives, appealed to tech-savvy customers. The backpacks sold well even though they were priced higher than regular bags.
However, despite the initial success, the company could not sustain its growth. By 2017, CO.ALITION and their first backpack brand, MHM, both shut down. The exact reasons for the closure were not made public. It’s possible that competition, production costs, or other challenges played a role. Unfortunately, CO.ALITION is no longer in business.
The CO.ALITION founders came to Shark Tank asking for $200,000 in exchange for 20% equity. They hoped their innovative backpacks would win the sharks over. However, things didn’t go as planned. Despite their pitch, Jeff and Casey left without a deal.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Robert Herjavec | Out | N/A | N/A |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Co.Alition Shark Tank pitch
Jeff Popp and Casey Lorenzen were not new to the world of backpacks. Before CO.ALITION, they had already created a successful brand called MHM. This brand focused on outdoor backpacks and earned $1.4 million in sales. However, Jeff and Casey wanted to do more.
They noticed that people relied heavily on their devices but often struggled to keep them charged while traveling. This inspired them to create CO.ALITION. These backpacks combined technology with practicality. But starting a new company was not easy. They had to face challenges like high production costs, competition, and marketing their innovative idea to customers.
Jeff and Casey walked confidently into the Shark Tank. They explained how their backpacks were different from others. The backpacks had built-in chargers that didn’t need to be removed to recharge. They also had WiFi hard drives, acting like a portable personal cloud.
The founders shared their sales numbers to impress the sharks. They had sold 500 backpacks in just seven months, earning $100,000 with profit margins between 50% to 70%. However, the sharks had questions. They wanted to know why Jeff and Casey didn’t add these backpacks to their already successful brand, MHM. Instead, the founders chose to create a whole new company. Keep reading our Co.Alition update to see what happens next!
Each shark had questions about the product and the business model.
Kevin O’Leary was concerned about the lack of patents. He asked if the product was protected from being copied by competitors. Jeff and Casey admitted that there were no patents, which worried Kevin.
Daymond John wanted to know why the founders didn’t integrate these backpacks into their first brand, MHM. Jeff and Casey explained that they saw CO.ALITION as a separate project with a different target audience.
Lori Greiner asked about the price point of the backpacks. She felt they were too expensive for the average consumer. The founders explained that the features justified the price, but Lori wasn’t convinced.
Mark Cuban focused on the scalability of the business. He asked if the founders had plans to grow the company while managing costs. Jeff and Casey shared their vision but couldn’t address all of Mark’s concerns.
The sharks gave mixed feedback about CO.ALITION.
Robert Herjavec: Robert agreed with Mark and felt that splitting the brands was not a smart move. He opted out as well.
Kevin O’Leary: Kevin thought the lack of uniqueness was a dealbreaker. He gave them a chance to combine their companies but ultimately went out.
Daymond John: Daymond briefly considered investing but ultimately decided to go out. He felt that the product could easily be replicated.
Lori Greiner: Lori was not impressed with the price point. She felt the backpacks wouldn’t appeal to a large audience.
Mark Cuban: Mark liked the concept but didn’t think it was a standalone business. He believed the founders should focus on growing MHM instead of starting a new company.
In the end, none of the sharks made a deal.
What Went Wrong With CO.ALITION On Shark Tank?
CO.ALITION faced several challenges during their Shark Tank pitch. The lack of patents was a major concern. The sharks felt that anyone could copy the product without any legal protection.
Another issue was the decision to create a separate company for the backpacks. The sharks thought it would have been better to add the product line to MHM, which was already successful. The high price point of the backpacks also made the sharks hesitate. They believed the bags were too expensive for most customers. Finally, the founders couldn’t fully convince the sharks of the long-term potential of CO.ALITION as a standalone brand.
Product Availability
CO.ALITION backpacks are no longer available for purchase. The company shut down in 2017, along with its first brand, MHM. For a time, the backpacks were sold in REI stores and online. They gained popularity among tech enthusiasts.
The backpacks were priced higher than regular bags, but the unique features made them appealing to a niche market. Unfortunately, despite the initial success, the company could not sustain its operations.
Conclusion
The story of CO.ALITION is a mix of innovation and challenges. Jeff and Casey created a product that solved a real problem for many people. Their backpacks were smart, functional, and unique. However, their journey on Shark Tank didn’t go as planned. The sharks raised valid concerns about the lack of patents and the business model.
After the show, CO.ALITION experienced some success but ultimately shut down in 2017. Their story is a reminder of how tough the business world can be, even for great ideas.
While CO.ALITION may no longer be around, its innovative spirit continues to inspire entrepreneurs everywhere. Who knows what the future holds for Jeff and Casey? Maybe they’ll return with another game-changing idea. Stay tuned for more updates!
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
