Sunflow Shark Tank Update

Sunflow Shark Tank Pitch

Leslie Hsu and Greg Besner appeared on Shark Tank Season 13, Episode 16, which aired on March 18, 2022, with premium beach chair.

Sunflow is listed in the Fitness Outdoors category. In plain terms, the business is described as premium beach chair.

Sunflow asked the Sharks for $1,000,000 for 6%, implying a valuation of about $16.7 million.

On the show, Sunflow made a listed deal with Kevin O'Leary for $1 Million for 5% + $5 per chair until $1 Milion is paid.

If treated as straight equity, the listed deal works out to about $20 million implied valuation, up from the original $16.7 million implied valuation.

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

Sunflow After Shark Tank

Sunflow accepted Kevin O'Leary's offer for $1 million for 5% plus a $5 royalty per chair until the investment was repaid. The product remained focused on premium beach chairs and accessories. (Sunflow Shark Tank Update

Later update coverage says Sunflow raised more than $3.5 million from investors and continued releasing accessories after the Shark Tank appearance. (Shark Tank Recap Sunflow update

The brand also partnered with designer Shoshanna on coordinated swimwear and beach-chair products, while the current storefront continues to sell the chair, shade, drink-holder, dry bag, and beach accessory system. (Shark Tank Recap Sunflow update

Sources

Sources used for this page: Shark Tank API pitches