Phoozy Shark Tank Update

Phoozy Shark Tank Pitch

Kevin Conway and Josh Inglis appeared on Shark Tank Season 12, Episode 19, which aired on April 2, 2021, with protective suit that protects devices from weather and environmental damage.

Phoozy is listed in the Accessories Gadgets category. In plain terms, the business is described as protective suit that protects devices from weather and environmental damage.

Phoozy asked the Sharks for $500,000 for 10%, implying a valuation of about $5 million.

On the show, Phoozy made a listed deal with Robert Herjavec and Lori Greiner for $500,000 for 8% + $1.5 per unit until $500,000 is repaid.

If treated as straight equity, the listed deal works out to about $6.3 million implied valuation, up from the original $5 million implied valuation.

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

Phoozy After Shark Tank

Phoozy accepted an on-air deal for $500,000 for 8% plus a $1.50 per-unit royalty until $500,000 was repaid, but later reporting says the deal did not close after filming. (Phoozy Shark Tank Update

Kevin Conway reported a 400% increase in sales after the original airdate, along with interest from major retailers after the show. (Phoozy Shark Tank Update

Phoozy continues to sell thermal protection cases and accessories through its own site, so the brand remained active even without the televised deal closing. (Phoozy website

Sources

Sources used for this page: Shark Tank API pitches