Shark Tank Update
Shark Tank Pitch
Lifebelt Shark Tank Update
Published:
2m
Las Vegas, NV
| Name | Lifebelt |
|---|---|
| Main Presenters | Robert Allison |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2010 |
| Main Location | Las Vegas, NV Loading Map |
| Order Shown in Episode | 2 |
| Final Deal | Offer made from sharks |
Lifebelt Shark Tank Pitch
Robert Allison had a loved one, whose sister died in a car crash so he invented Lifebelt, a patented device that prevents cars from starting if the seatbelt is not buckled.
Robert Allison is no natural salesperson, sending Barb off his scent. Kevin O'Leary will buy the patent for $500k. Robert Herjavec offers $1 million for the patent. Robert Allison takes the deal, and we get a quick, squeaky-clean deal, right? Wrong. Reattach your jaws back to your face. This guy just got a whole lot more interesting.
Robert Allison values the immediate availability of Lifebelt in the market. He believes licensing to a big car company would cause Lifebelt to be unavailable for several years while waiting on the large company's slow-moving bureaucracy to make it available. Robert Allison elects to leave the tank and keep selling his product.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $500k for 10% of company | |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Kevin Harrington | Out |
| Sharks | Out | Daymond John | Out |
| Sharks | Offered | Kevin O'Leary | $500k for patent |
| Sharks | Offered | Robert Herjavec | $1 million for patent |
Kevin Harrington
Out
Daymond John
Out
Kevin O'Leary
Offered
Barbara Corcoran
Out
Robert Herjavec
Offered
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| 1 | 14 |
Lifebelt After Shark Tank
I guess Robert Allison wasn't crazy to turn away the sharks because in Season 1, Episode 14, he updated us that he did a deal with Gillman Automotive Group in Houston, Texas resulting in approximately $1.7 million for him and had anticipated sales in 2010 of $10+ million.
There hasn't been any update on Lifebelt since the Shark Tank update. According to Robert's LinkedIn https://www.linkedin.com/in/robert-allison-iii-84750625/, he has worked as CEO of a company called AQSWW since 2016.Link Preview
LinkedIn
Join the Newsletter
Stay up to date on the latest news and updates occuring in the Shark Tank world.
Join the Newsletter
Stay up to date on the latest news and updates occuring in the Shark Tank world.
