Outer Shark Tank Update

Outer Shark Tank Pitch

Jiake Liu and Terry Lin appeared on Shark Tank Season 11, Episode 8, which aired on November 16, 2019, with premium outdoor patio furniture with a protective cover.

Outer is listed in the Lifestyle Home category. In plain terms, the business is described as premium outdoor patio furniture with a protective cover.

Outer asked the Sharks for $750,000 for 4%, implying a valuation of about $18.8 million.

On the show, Outer made a listed deal with Lori Greiner for $750,000 loan for 5% equity + $30 royalty up to $1 million.

If treated as straight equity, the listed deal works out to about $15 million implied valuation, down from the original $18.8 million implied valuation.

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

Outer After Shark Tank

Outer accepted an on-air Shark Tank deal for $750,000 loan for 5% equity + $30 royalty up to $1 million, but follow-up reporting says the deal did not close after filming. (Outer Shark Tank Update

In June, 2020 they raised $4.3 million and in January, 2021 they raised another $10.5 million. (Outer Shark Tank Update

The most recent round of money will be used to do material research and new product development. (Outer Shark Tank Update

As of July, 2022, the company has expanded the line to outdoor dining furniture, fire pits, rugs and more. (Outer Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches