The Johnson family created a toy bracelet called Flipoutz. They wanted to make a fun product for kids. The bracelet has five coins that can be worn and traded. The family took their idea to Shark Tank to get help growing the business. They asked for $100,000 for 20% of the company. They hoped a shark would invest in their product and help make it a success. Will the entrepreneur get a deal on Shark Tank? Check out the Flipoutz update to find out!
Flipoutz Net Worth Shark Tank Update 2025
Jake, Lachlan, and Erin Johnson went on Shark Tank asking for $100,000 for 20% of their company. This meant they thought their business was worth $500,000. They made a deal with Daymond John, Barbara Corcoran, and Mark Cuban for $100,000 for 33%, lowering the valuation to $303,030. The episode was aired on February 11, 2011. The company was sold in 2013 and later discontinued. Since it was sold, the current net worth is no longer applicable; the final valuation at sale was likely under $1 million.
After Flipoutz appeared on Shark Tank the company saw some success. It was sold in stores like Toys R Us and Hallmark. The Johnson family sold the business to Wild Craze in 2013. In 2015 the company rebranded and became Snap Tagz. Unfortunately, it eventually went out of business. As of 2024 the company is no longer operating.
Yes Flipoutz got a deal on Shark Tank. The Johnson family asked for $100,000 for 20% of their company. They got offers from Daymond John, Kevin O’Leary, and Robert Herjavec. The sharks offered $100,000 for 33% equity. The family accepted the deal. Daymond and Robert lowered their offer to 25% but then they all agreed to the original deal. The family left with a deal from three sharks for $100,000 in exchange for 33% equity.
| Shark(s) Name | Offer & Demand | Counter Offer | Accepted? |
| Daymond John | $100,000 for 33% equity | #1 $100,000 for 25% equity #2 $100,000 for 33% equity (Combined Offer) | Yes to 2nd offer |
| Robert Herjavec | $100,000 for 33% equity | $100,000 for 33% equity (Combined Offer) | Yes to counteroffer |
| Kevin O’Leary | $100,000 for 33% equity | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Kevin Harrington | Out | N/A | N/A |
Flipoutz Shark Tank pitch
The Johnson family invented Flipoutz when their parents requested they design toys. They aimed to create something enjoyable and engaging for children. Erin, Lachlan, and Jake collaborated to create a bracelet. The bracelet features five custom coins that children can wear and exchange. They also developed a method to monitor the coins on the internet. This enhanced the product’s appeal.
The children communicated their concepts to their parents. They put in a lot of effort to achieve it. The family encountered difficulties throughout their journey. They required funds to create the website. They also required a method to deliver the product to children. Despite these challenges, they continued onward. They had confidence in their product and aimed to share it with others.
The Johnson family stepped into the Shark Tank showcasing their product. Erin, Lachlan, and Jake discussed their contributions. They presented the sharks with samples of their product. The bracelet is composed of silicone. Every bracelet features five coins that can be personalized. The family described how children don and exchange the coins. They additionally mentioned that the coins are traceable online.
The item was more than merely a bracelet. It was an enjoyable game. The family stated that they had been in business for six months. They had generated $20,000 in revenue. The sharks were amazed but had inquiries. Kevin O’Leary inquired about the locations where the product was available. The family stated they primarily sold via the internet. They also formed a collaboration with a souvenir distributor.
Daymond John inquired about the price. The family stated that making one bracelet and one coin costs $0.69. The store price was $4.99. They mentioned that they had a patent application in progress for the code located on the reverse of the coins.
The sharks inquired extensively about Flipoutz. Robert Herjavec was curious about the total amount the family had spent up to that point. Jake mentioned that the parents had put in approximately $250,000. A significant portion of these funds was allocated to the website. Kevin O’Leary inquired about what distinguished the product. Emily the mother described the patent. She mentioned that the inscription on the reverse side of the coin was unique.
It gave the product its uniqueness. Barbara Corcoran had worries regarding the patent. She was uncertain if it would succeed. Thus she chose not to extend an offer. Kevin Harrington declined the opportunity as well. He believed the product was overly risky. However, the family did not lose hope. They were working on a significant purchase order. A business planned to purchase 30% of the stock in advance.
This caused the sharks to pay attention and become alert. Daymond John presented the initial proposal. He proposed $100,000 in exchange for a 33% stake in the company. He wished for the agreement to rely on the patient’s approval. Kevin O’Leary and Robert Herjavec also proposed a deal. They sought $100,000 for a 33% ownership stake. The family felt uncertain. Jake presented a counterproposal. He requested $150,000 in exchange for a 33% stake.
Daymond and Robert were not in agreement about this. However, Kevin O’Leary chose to collaborate with both of them. Together they proposed $100,000 in exchange for 33% equity. The family accepted this proposal. They exited the Shark Tank with an agreement from three sharks.
The sharks had different responses to the Johnsons’ pitch. Barbara Corcoran dropped out first. She was concerned about the patent. Kevin Harrington also passed on the deal. He thought the product was too risky. The family still had confidence in their product. They had a large purchase order lined up. This made Daymond John interested in making an offer. He offered $100,000 for 33% equity.
Kevin O’Leary and Robert Herjavec also made an offer. They wanted the same $100,000 for 33%. Daymond John lowered his offer to 25%. Kevin O’Leary asked the family to leave while the sharks talked. When the family returned Kevin O’Leary had changed his mind. He wanted to team up with Daymond and Robert. Together they offered $100,000 for 33% equity. The family agreed to this deal. They left with a three-shark deal and excitement about the future of Flipoutz.
What Went Wrong With Flipoutz On Shark Tank?
Despite the interest from the sharks some of them had concerns. Barbara Corcoran didn’t think the patent was strong enough. Kevin Harrington thought the product was too risky. These reasons made them decide not to offer a deal. However, Daymond John, Kevin O’Leary, and Robert Herjavec still saw potential in Flipoutz. They offered a deal that the family accepted.
While the company went on to sell in stores it eventually shut down. It shows that even with a deal on Shark Tank things don’t always work out as planned.
Product Availability
Flipoutz was a fun product. The bracelet was made of silicone. It came with five personalized coins. Kids could wear and trade the coins. They could also track them online. The product was sold in stores like Toys R Us and Hallmark. It was also available online. The retail price was $4.99 for each bracelet. The company sold its products through its website and other distributors. In 2013 the family sold the company to Wild Craze. The company was rebranded to Snap Tagz in 2015. However, it is no longer in business today.
Conclusion
The Johnson family’s journey on Shark Tank was exciting. They left with a deal from three sharks. Their product Flipoutz had great potential. It was sold in stores and online. However, the company eventually went out of business. After rebranding to Snap Tagz it could not continue.
Hey there, I’m Fatima Muhammad, an International Relations student, with a focus on the strategic dynamics of global relations, One of my favorite shows is Shark Tank. I love it because it showcases the creativity, determination, and strategic thinking of entrepreneurs, which I find inspiring. The show also teaches valuable lessons about innovation, business dynamics, and the importance of perseverance in the face of challenges. Read more About me.
