YoNo Clip Shark Tank Update – YoNo Clip Net Worth

In Season 12 Episode 12 of Shark Tank, Michael Green and Bob Mackey presented an amazing and useful tool for people concerned about their carrier bags outside their premises. Their invention, YoNo Clip, is perfect for holding and securing your bags. Using it gives people peace of mind that their items are safe and clean.

Michael and Bob are looking for an investor with $150,000 with a 15% equity deal. Let’s learn about the product, usage, and backstory in this YoNo Clip Shark Tank Update. And most importantly, will they seal the deal? Let’s find out.

YoNo Clip Net Worth

Right now, the product is being manufactured domestically. The inventors are manufacturing their products in their garages and homes. A 3D printing machine with a specific design allows them to craft 10 to 15 items per week.

Michael and Bob begin a Kickstarter campaign for this product. The total amount raised by the campaign was $10,000, which was the initial investment. Now, the inventors are looking for a good investment with a demand of $150,000 by offering 15% of shares in this product.

Did YoNo Clip get a deal on Shark Tank?

The YoNo Clip impressed the Sharks with their pitch presentation. However, due to the lack of uniqueness in the product, Sharks backed out except for Daymond John. He believed in YoNo Clip and their determined inventors. So, he made his offer of $150,000 with 30% equity.

The counteroffer was made with equity of 20%. In the end, Michael and Bob agreed with Daymond’s offer. The demanded investment of $150,000 will be an investment with Daymond’s 30% shares in the company was the final deal. Let’s check the remaining details.

Shark(s)Offer madeDemandCounterofferAccepted?
Mark CubanOUTN/AN/ANo
Barbara CorcoranOUTN/AN/ANo
Kevin O’LearyOUTN/AN/ANo
Lori GreinerOUTN/AN/ANo
Daymond John$150,000 with 15% equity$150,000 with 30% equity$150,000 with 20% equityYes

YoNo Clip Shark Tank Update

yono clip shark tank deal

YoNo Clip and its usage

YoNo Clip can hold a handbag, laptop bag, or any hand carry whenever outside. It is a suction-based product that can be attached to a flat, smooth, non-porous material like metal and glass. It uses suction technology and can be held strong by pushing its lever out.

This lever comes with a carry holder to hold heavy bags. The YoNo Clip can be used almost everywhere and holds almost everything. Especially after COVID-19, everyone has been very protective about cleanliness and sanitation. This protects bags and hand carriers free from germs, dirt, and damage with the peace of mind of the owner.

YoNo Clip Founder and backstory

yono clip founder on shark tank

Michael said they met at a youth tech summit, Stem Fest. They have been friends since then. Michael also introduced his company called Science for Everyone. This company presents interactive science informative shows and events at various places nationwide.

Mark inquired about what kind of science shows they present. Michael explained that they present physical and Earth science, including YoNo science, Micheal’s favorite. He expressed his love for science, so he loves to explain daily science to upgrade kids to their best version. Lori then inquired about Bob.

Bob stated his side of the story, that he was a speaker at the Stem Fest. He was a high school dropout and provided house support. He later completed his GED and college and became the president of Georgia’s girls’ and boys’ clubs.

For Bob, this is a great achievement in his life. He also shared his thoughts on the lack of good people in the world, so he wishes to do business with trustworthy and reliable people. Michael was happy that he said it as they wrote it.

Pitch and initial presentation

Michael and Bob begin with their pitch with their introduction. Michael cheerfully begins with an example of a gym scenario with the Sharks. Both discussed their gym session and where they would keep their items safe. Bob started the conversation by teasing him and asking why not.

He then answered with too much germs and dirt. Bob kept teasing Michael with his questions. This joke cheered all Sharks’ moods, and they laughed when Michael ended up thinking about what would resolve this issue.

Bob then begins to explain the purpose of the YoNo Clip as the only solution to it. Michael proceeds to explain it with the press, pull, and hang. Michael proceeded to demonstrate their product. He attached the YoNo Clip to a smooth, flat, non-porous surface by pulling the center lever. This will increase the suction of the clip to the surface. Then hang all your goodies on it.

This idea excited the Sharks as they enjoyed the demo. Bob appreciated the demo, along with Michael’s dance moves. Michael repeated his moves and asked the Sharks to show their moves. To which Shark gladly stood up and showed their groovy moves.

Michael went on to explain their product. He stated that the YoNo Clip can be attached to every possible position: vertically, horizontally, diagonally. They can used almost everywhere and for everything. Bob explained they are very useful in the COVID-19 pandemic as this product keeps their stuff close to them and free from germs and dirt. Then they asked the Sharks’ opinion about the YoNo Clip.

Discussion on pitch and offer

Mark and Daymond joyfully expressed their likeness to the pitch and its presentation. Lori then inquired about the suction of the YoNo on any surface and began to count them. Metal, glass, and plastics are best, but not brick. Lori wished to understand its suction while Bob suggested playing the video. Michael and Lori agreed, and the video was played. Mark titled it as YoNo Promo.

Michael explained that their product is easily confused with a purse hook, but he explained that it isn’t. Daymond inquired if the lever would be more curved to have a better hold when placed upside down. Michael said that it has a carry holder.

This amazed Daymond that they designed it considering all aspects. Lori was interested in knowing more about the founder, so she asked her questions. Michael and Bob talked about how they met and their backstory. Then, Kevin began to inquire about sales.

Bob explained that from the last 2 months of being operational, their sales are 14,005. To this, Barbara appreciated their bravery. Daymond inquired about their investment, to which Michael said they started a Kickstarter campaign. They raised $10,000 in a day.

Mark jumped into the conversation and confirmed that the $14,000 they stated before was $10,000 from the Kickstarter campaign. Michael nodded and stated as correct. Mark asked about the remaining $4,000, to which Bob replied it was from their website and gym.

Mark then inquired about the price per item, to which Bob said that right now, they are being printed at their garage. As they are 3D printed, they cost $20 at retail price. Mark stated that it was expensive. Michael then explained why they are here for capital to upgrade their manufacturing system.

They wish to shift from 3D printing to mold design systems that drop the cost to $5. Lori stated that they are just beginning. Bob replied that they can only make 10 to 15 items per week. Daymond inquired to confirm that they make the product by hand. Bob nodded yes, and Michael said the shirts were also printed in the house. Barbara then joins them.

Negotiation and final deal

Barbara stated that the market is competitive as they have a long way to go and need more reliable skills to impact the world better. She considered it as a side hustle, and then she backed out. Then Mark stated that it was not an essential thing he would need for himself, so he backed out and appreciated their efforts for the kids.

Kevin then jumped in with a previous Shark Tank product, DeskView. He explained the product as two suction cups that attach to surfaces and how the demands for deals like these products go. He wished them luck and back out. Lori said she wanted more reliability and wished them luck, but as an investor, she refused. She also backed out.

Michael then shifted towards Daymond for his opinion. Daymond exclaimed his expressions and stated that these guys have many things to work on, like social media, trademarks, etc. And he doesn’t want to insult them by offering 50% equity. Michael claimed they were dedicated working men, so Daymond expressed his trust. And offer $150,000 with 30% equity. Other Sharks were shocked, and Michael stated $150,000 with 20% equity as a counterdemand offer.

Mark motivated the inventors. Daymond stated the worth in hundred thousand on record, and Daniel jumped in to express his concerns about the rigid competition in this kind of product. Daymond expressed his genuine concern about staying as an investor when Barbara jumped in to support Daymond as the best investor to find.

Lori also jumped into the negotiation in support of Daymond. Lori reminded Michael that they asked for good people, and  Daymond was what they were looking for. Daymond again restated his offer and asked Michael and Bob to reconsider it. After a few seconds, Michael agreed, and Bob held him to see him in the air. Both were happy and gladly left the room.

YoNo Clip availability

YoNo Clip is a durable product for keeping your stuff safe and sound. People who carry their things like gym supplies, laptop items, or anything else. They constantly stay worried about their safety and neatness. Using its suction technology, the product will stick wherever needed to hold things up. Each item is sold for $20 each. This brings a peace of mind that their things are safe and clean.

Conclusion

YoNo Clip is an emerging product in a competitive market, but its inventors are hopeful. After Mark Cuban, Barbara Corcoran, Kevin O’Leary, and Lori Greiner left the offer, Michael and Bob held hopes with Daymond. And he didn’t disappoint him.

Daymond believed in the inventors and stepped up as an investor. He made the $150,000 investment with his belief by having 30% company shares. Michael suggested the counterdemand offer with 20% shares, but Daymond made his final word.

After reconsidering, the deal was sealed at 30% equity with a $150,000 investment. After they found the investor with such a good deal, Michael and Bob expected things to be better and left the stage cheerfully.

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