Tie Not Water Balloon Net Worth Shark Tank Update 2025

Filling water balloons has always been a difficult chore to fill and tie water balloons, especially for parents and children who simply want to spend a nice summer day outside. Filling water balloons in the old-fashioned method is a dirty, time-consuming, and frequently annoying process, especially if you have to tie each balloon by hand.

Large events like parties or picnics require dozens or even hundreds of balloons, making this process much more difficult. Wayne Sikorcin and Scott Smith saw this common problem and developed a creative solution, the Tie-Not. The product is made to fill and tie the water balloons without much effort and mess. 

The entrepreneurs asked for a $125,000 investment for 10% equity in their business. They pitched their product and explained the features of their invention. Let’s find out whether the entrepreneurs get the deal or not. 

tie not water balloon Net Worth Shark Tank Update 2025

Scott Smith and Mike Bounous went on Shark Tank asking for $125,000 for 10% of their company. This meant they thought their business was worth $1,250,000. They made a deal with Lori Greiner for $125,000 for 25%, lowering the valuation to $500,000. The episode was aired on May 2, 2014. The company became inactive, though some products still appear on Amazon. The current net worth of Tie-Not is $0 in 2025.

Wayne and Scott continued marketing their product in spite of the failure. Due to a license arrangement they had with the Imperial Toy Company, they were able to sell their product online, especially on Amazon, during the busiest summer months. 

The future of Tie-Not was put at risk when Imperial Toy filed for Chapter 11 bankruptcy in November 2019. The bankruptcy case changed to Chapter 7, which indicates liquidation, by February 2020. For a while, Tie-Knot goods were offered on Amazon in spite of these difficulties. However, the Tie-Not business is no longer in operation as of 2024. The brand is not listed, and its website is no longer operational.

Shark Tank did not result in a deal for Tie-Not. Even though Barbara Corcoran offered Wayne and Scott $125,000 for 25% ownership, they were unwilling to give up that much control over their company. They countered with $100,000 for 18% equity and $50,000 in cash, but Barbara didn’t accept it. Wayne and Scott made the decision to leave without making any deal. 

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	$125,000 for 25% equity with $50,000 cash and $75,000 line of credit	$150,000 for 18% equity with $50,000 cash and 100,000 credit line 2#  $125,000 for 20% equity with $50,000 cash and $75,000 line of credit	No
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

Tie Not Water Balloon Shark Tank Pitch

Wayne Sikorcin was made to come up with the idea of Tie-Not. It became a difficult and time-consuming operation when he had to fill and tie 250 water balloons for a family picnic. Wayne, who makes molds for a living, thought that there had to be a more effective method to manage this. The process was made much easier by his daughter, Abby, who helped him in creating and testing the Tie-Not device.

Wayne then collaborated with Scott Smith to launch the product, taking advantage of Scott’s sales background and his production skills. They succeeded in developing a product that made a typical summer activity simpler, despite the early difficulties in product development and dealing with the competitive toy industry.

Wayne and Scott showed the sharks their Tie-Not gadget when they entered the Shark Tank. They highlighted the efficiency and unique appearance of their invention by showing two of the items that quickly and simply filled and tied water balloons. With a focus on growing their inventory and reaching a wider market, the entrepreneurs requested $125,000 in exchange for 10% equity.

They disclosed their sales data and described how their licensing arrangement with the Imperial Toy Company enabled them to receive profits ranging from 7% to 11%. With the money, they hoped to improve their ability to produce and gain bigger contracts with major department stores.

Mark was the first to express disinterest in the product, saying he didn’t have much knowledge about the industry and didn’t think buying a toy product would be beneficial.

Kevin questioned the $1.25 million valuation of the company, highlighting limitations on the company’s control and possible earnings due to the license arrangement so he decided not to invest.

Robert expressed similar worries to Kevin on the valuation, stating that although the product has potential, the price was too expensive. He decided to give up as well.

Lori Greiner, citing worries about the Tie-Not’s profitability on channels such as QVC, thought that the product was too cheap for her to invest in. She declined the deal as well.

Barbara expressed interest in the deal and made an offer, but she was concerned about the amount of equity Wayne and Scott were offering.  She decided not to invest as they couldn’t agree on terms. 

All of the sharks did not offer any deal except Barbara. 

Mark decided not to invest early because he had no interest in the toy business.

Kevin O’Leary left after some arguments and discussions. He believed that the company’s agreement with the toy company limited its capacity to grow and make a profit. 

Robert Herjavec declined to invest after agreeing with Kevin’s point of view. 

Lori chose not to participate because she believed the product was too inexpensive for her business model.

The only shark who made an offer was Barbara Corcoran. She offered $125,000 for 25% ownership with $50,000 cash and a $75,000 line of credit, but the business owners were unwilling to give so much of their business and counter-offered for 18% and then 20% but Barbara rejected it. They also did further negotiation and discussion but the founders did not agree with her demands.

What Went Wrong With Tie-Not Water Balloon On Shark Tank?

On Shark Tank, Tie-Not was unable to make a deal, mainly because the licensing arrangement, which restricted their power over the product’s growth and earnings, made the sharks believe the company’s worth was too much. The sharks feared that the license deal’s earnings would not be sufficient to support the $1.25 million prize.

The sharks were also reluctant to put money into a product that was seasonal and had an inexpensive price tag. The only offer on the table was Barbara’s, but when Wayne and Scott rejected and counter-offered, she was unwilling to change from her previous deal, so they left the show without a deal.

Product Availability

As of 2024, Tie-Not products are not available anywhere. The company is no longer actively operating or directly selling to customers, as shown by the inactivity of its website and declining social media presence. The company also offered other products like water balloon fillers, launchers, balloons, and bubble machines. Tie-Not goods were mostly sold online through Amazon and a few other third-party merchants after their Shark Tank appearance. 

Conclusion

In Shark Tank, Tie-Not’s introduced a straightforward but innovative product to a competitive industry. The product could quickly and simply fill and tie water balloons. Even though Wayne Sikorcin and Scott Smith, the company’s founders, came up with a brilliant solution to a common issue, they had a difficult time growing their business because of the restrictions on their license. They also failed to convince sharks of the investment. Having early sales success and a positive beginning, the business found it difficult to keep up the pace and eventually disappeared from the market.