StepNpull Shark Tank Update

StepNpull Shark Tank Pitch

Mike Sewell appeared on Shark Tank Season 12, Episode 19, which aired on April 2, 2021, with door extension tool that opens doors when stepped on, to help prevent the spread of germs.

StepNpull is listed in the Accessories Gadgets category. In plain terms, the business is described as door extension tool that opens doors when stepped on, to help prevent the spread of germs.

StepNpull asked the Sharks for $300,000 for 3%, implying a valuation of about $10 million.

On the show, StepNpull made a listed deal with Kevin O'Leary for $300,000 for 6%.

If treated as straight equity, the listed deal works out to about $5 million implied valuation, down from the original $10 million implied valuation.

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

StepNpull After Shark Tank

StepNpull accepted an on-air offer for $300,000 for 6%, but later reporting says the deal did not close after filming. The product still had a clear post-pandemic use case as a foot-operated door opener for public and commercial spaces. (StepNpull Shark Tank Update

By November 2022, follow-up coverage put StepNpull revenue for the year around $1.7 million. (StepNpull Shark Tank Update

The company continues to sell hands-free door openers through its own site, with the product positioned for offices, schools, health-care facilities, restaurants, and other high-traffic buildings. (StepNpull website

Sources

Sources used for this page: Shark Tank API pitches