SubSafe Shark Tank Update

SubSafe Shark Tank Pitch

Adam Haller and Desiree Haller appeared on Shark Tank Season 10, Episode 13, which aired on January 26, 2019, with waterproof container for phones, sandwiches, wallets, keys..

SubSafe is listed in the Other category. In plain terms, the business is described as waterproof container for phones, sandwiches, wallets, keys..

SubSafe asked the Sharks for $50,000 for 13%, implying a valuation of about $384,615.385.

On the show, SubSafe made a listed deal with Mark Cuban for $100,000 for 25%.

If treated as straight equity, the listed deal works out to about $400,000 implied valuation, up from the original $384,615.385 implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

SubSafe After Shark Tank

SubSafe accepted an on-air Shark Tank deal for $100,000 for 25%, and later updates say the deal closed. (SubSafe Shark Tank Update

By May, 2024, update sources put SubSafe's annual revenue around $1 million. (SubSafe Shark Tank Update

As I said they should be, SubSafe is now in Wawa, Publix, Bed Bath and Beyond and, of course, Amazon. (SubSafe Shark Tank Update

2019 also saw a licensing deal with ORCA coolers to sell SubSafes with NFL and college sports teams logos. (SubSafe Shark Tank Update

The company also introduced the WineSafe, a combination waterproof plastic container and koozie for wine or champagne bottles that comes equipped with a rubber cork. (SubSafe Shark Tank Update

The current brand site points customers to thesubsafe.com. (SubSafe website

Sources

Sources used for this page: Shark Tank API pitches