Storage Scholars Shark Tank Update

Storage Scholars Shark Tank Pitch

Sam Chason and Matt Gronberg appeared on Shark Tank Season 14, Episode 4, which aired on October 14, 2022, with A company that partners with schools to store and pack goods for college students. You can get packing material delivered to you and you pack and leave everything in your room until you arrive next year when they will move you in..

Storage Scholars is listed in the Services category. In plain terms, the business is described as A company that partners with schools to store and pack goods for college students. You can get packing material delivered to you and you pack and leave everything in your room until you arrive next year when they will move you in..

Storage Scholars asked the Sharks for $250,000 for 5%, implying a valuation of about $5 million.

On the show, Storage Scholars made a listed deal with Mark Cuban for $250,000 for 10%.

If treated as straight equity, the listed deal works out to about $2.5 million implied valuation, down from the original $5 million implied valuation.

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

Storage Scholars After Shark Tank

Storage Scholars accepted an on-air Shark Tank deal for $250,000 for 10%, and later update coverage says the deal closed. (Storage Scholars Shark Tank Update

By July, 2024, Storage Scholars was reported at about $7 million in annual revenue. (Storage Scholars Shark Tank Update

Chason told The Winston Salem Journal the company would like to extend the relationship with Storage Scholars's student customers beyond college and maybe even evolve into a global moving and storage business. (Storage Scholars Shark Tank Update

the founder told the same reporter there were two more deals in the pipeline "coming soon." Since taping Storage Scholars's segment, Storage Scholars has added a shipping component to Storage Scholars's service. (Storage Scholars Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches