Flipstik Shark Tank Update

Flipstik Shark Tank Pitch

Akeem Shannon appeared on Shark Tank Season 12, Episode 4, which aired on November 5, 2020, with space-technology-based adhesive device that let’s users attach their phones to any surface.

Flipstik is listed in the Accessories Gadgets category. In plain terms, the business is described as space-technology-based adhesive device that let’s users attach their phones to any surface.

Flipstik asked the Sharks for $100,000 for 20%, implying a valuation of about $500,000.

On the show, Flipstik made a listed deal with Lori Greiner for $100,000 for 25%.

If treated as straight equity, the listed deal works out to about $400,000 implied valuation, down from the original $500,000 implied valuation.

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

Flipstik After Shark Tank

Flipstik accepted an on-air Shark Tank deal for $100,000 for 25%. Later reporting says the deal did not close after filming. (Flipstik Shark Tank Update

Flipstik lifetime was reported at about $100,000 in sales. (Flipstik Shark Tank Update

The second was $50,000 in equity-free funding from the inaugural cohort of UMSL Accelerate’s Diversity, Equity and Inclusion Accelerator. (Flipstik Shark Tank Update

Akeem finally got his product on Amazon, where it is selling briskly. (Flipstik Shark Tank Update

In the week following the initial air date, the company doubled its lifetime sales and added another $100,000 in sales through the holiday season. (Flipstik Shark Tank Update

Flipstik now uses www.getflipstik.com as its customer-facing site. (Flipstik website

Sources

Sources used for this page: Shark Tank API pitches