Flated Shark Tank Update – Net Worth, Pitch & Deal

Traveling around the nation is a memorable experience but handling tons of luggage is a big concern. Whether you are solo camping or on a trip with family. There are lots of things that you need to keep you but the car’s space gets limited. So to expand your space on the road, Flated has introduced a very innovative option. 

Flated presents its three-in-one car gear. It’s an air topper when you need to carry a lot of luggage or bags. It’s a car carrier if the car is full and you still have bags to take. It’s a car deck to add more space to your truck or pickup. All of these products are inflatable, which you just have to inflate them when needed and deflate them back when the job is done.

Moreover, they provide an inflated bed option too. The company has good sales and growth. But evaluation is where our Sharks get concerned. They demanded for $350,000 for 5% equity. The idea is amazing but will Sahrks invest in this inflatable car gear? Let’s find out.

Flated net Worth

Ken Hoeve, Monique Keefer, and Ryan Guay asked for a $350,000 investment in exchange for 5% equity in their company. This meant they valued their company at $7 million. They made a deal with Daymond for $350,000 in exchange for an 8% royalty per unit sold until the money is paid back, after which it reduces to 5% in perpetuity. This deal did not change the equity valuation directly but added a royalty component. After the show aired, Flated saw a big growth in customer interest and sales, especially from states like Florida, Utah, and Idaho. With an estimated 15% yearly growth rate (given their innovative product and market interest), the current net worth of Flated is projected to be about $9.75 million.

What Happened to Flated After Shark Tank

After Shark Tank, the customers rushed to the new company. They are promoting new products for outdoor events. The company has drawn attention from other states like Florida, Utah, and Idaho.

Did Flated get a deal at Shark Tank?

Yes, they got a deal with Daymond John. The deal was done as $350,000 for an 8% royalty per unit sold till the money was paid. Once paid, then it reduced to 5% in perpetuity

Shark(s) nameOffer & DemandCounterofferAccepted?
Damond John$350,000 for 8% royalty per unit sold till the money is paid + reduces to 5% in perpetuity$350,000 for 7% royalty per unit sold till the money is paid + reduces to 4% in perpetuityYes
Lori GreinerOutN/ANo
Kevin O’LearyOutN/ANo
Barbara CorcoranOutN/ANo
Mark CubanOutN/ANo

Flated Shark Tank Update

flated net worth

Founders & their Backstory

Ryan, Ken, and Monique worked together for a paddleboard company back in 2009. It was during this era when inflated paddle boards were introduced. At the time of filming, the paddleboard industry is 90% covered with inflatable. They started a business of their own. 

Initial Pitch

Ken, Monique, and Ryan introduced themselves. They demanded $350,000 for 5% equity in their company, Flated. They introduced the first-ever three-in-one car gear: air carrier, air topper, and car deck. It is an inflatable gear that can inflate for use and reduce back into a normal gear bag after its use. This gear provides maximum space and has good support materials like plastic and metal.

The gear is made using drop stitch technology. They have a car topper and an in-car bed. Easy to install, ready in no time, and packed into a bag when not in use. They completed the pitch and presented the Sharks with a sample of the material used.

Queries about the Product

what happened to flated after shark tank

Sharks had a look at the material. Lori inquired about the inner material used in the gear. Ryan explained that the fibers within are the drop stitch technology. These are fibers that connect the top and bottom panels. Ken then asked Lori to push the opening button which then squeezed the air out. Robert asked Ryan if it was his technology.

Ryan replied that this technology has been used in water sports gear. Kevin inquired as if he had any patents on it. Ryan explained that their patent is about using the drop stitch technology for the reusability of space. Robert rephrases his words as he is using the technology for a different reason. Ryan then shared a quick flashback. Next, Kevin inquired about the manufacture and sell price. 

Ken replied that the topper costs $1,800 with a landing cost of $740. Daymond inquired about the beds. Ken replied the cost of the bed as per their size is between $550 to $699. Kevin inquired about the sales breakout in terms of toppers or beds. Monique responded that the toppers are up to 80% of the sales. Kevin presented a scenario of himself as a customer who wants a topper for his car.

Ryan answered that the cost of a topper of premium quality with paint match will be starting from $3,500. Along with free shipping delivered to the doorstep. Kevin inquired about the sales to the date. Monique replied that the sales are $277,000 and targeted for $600,000 this year. Kevin then inquired about its evaluation worth 7 million dollars. Monique replied that we have a 100,000 purchase order from a national retailer.

Daymond then inquired if they had raised any money. Monique answered with a yes. He then inquired how much. Monique replied that $500,000 was raised. He then inquired how much of their own money was invested. Monique replied that all of them paid $200 by using their LOC taxes. Lori inquired if they are full-time employees. Monique replied that Ryan has recently resigned from a Vice President of Sales, as she has a part-time job, and Ken works as a billing man at a premium hotel in North Colorado.

Shark’s Responses & Final Deal

did flated get a deal at shark tank

Lori was the first Shark to quit as she didn’t think that the product had enough worth. Kevin stepped out next. As he thinks that the evaluation is too high for an investor. Mark stepped out too. He thinks that the product isn’t trustworthy until the customers self-test it and it will not give a faster profit. Robert liked the company but he thinks that the business won’t grow fast until they keep working as full-time employees. So he stepped out too.

Daymond then made his offer. He offers $350,000 for an 8% royalty per unit sold till the money is paid and then it is reduced to 5% in perpetuity. Ryan counteroffered. He demanded $350,000 with a 7% royalty till the money was paid and then reduced to 4% in perpetuity. But Daymond rejects the counter-deal. Other Sharks advised him to do so. Finally, Ryan and others agreed to his deal. The deal was sealed. 

What Went Wrong with Flated on Shark Tank

The entrepreneurs impressed the Sharks with their pitch and idea. The sales were good and growth was optimal. But the evaluation was concerning to Sharks. Most of the Sharks especially Kevin quit the deal due to its high evaluation.

Product Availability

Flated presents are amazing car gear that serves three different purposes. As a car carrier, you have loads lots of luggage on it for your trips and tours. As an air topper, it expands the car’s space by adding extra space on your car’s roof. As a car deck, you add more luggage to your truck. Moreover, they have an inflatable car bed that can used whenever needed. Their website also has various deals. Make sure to check them before your next road trip.

Conclusion

Ken Hoeve, Monique Keefer, and Ryan Guay, three entrepreneurs are at Sahrks Tank Seask 14. They have designed the inflatable car gear to add more space and are great for your car for your next trip. An all-rounder that can be used for three different purposes: air carrier, air topper, and car deck. This amazing product adds more space to your vehicle regardless of its size and model.

The pitch was good with sales and growth was optimal. They demand for $350,000 for 5% equity. But the Sharks were not interested. The high evaluation made the Sharks step out one after the other. But Daymond made a deal.

He $350,000 for an 8% royalty per unit sold till the money is paid. Once it’s paid, it reduces to 5% in perpetuity. Ryan counter-offered the deal. He proposed $350,000 for a 7% royalty per unit sold till the money is paid. After the money is paid, the royalty is reduced to 4% in perpetuity. But it was rejected. Finally, entrepreneurs agreed on Daymond’s deal and it was done. 

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