ZipString Shark Tank Update

ZipString Shark Tank Pitch

Stephen Fazio and Austin Hillam appeared on Shark Tank Season 14, Episode 9, which aired on December 9, 2022, with ZipString is a toy that floats a seemingly standard loop of string in the air, carefully balancing the forces of gravity, lift, tension, and drag. With any movement the user makes, the string follows..

ZipString is listed in the Media Entertainment category. In plain terms, the business is described as ZipString is a toy that floats a seemingly standard loop of string in the air, carefully balancing the forces of gravity, lift, tension, and drag. With any movement the user makes, the string follows..

ZipString asked the Sharks for $100,000 for 10%, implying a valuation of about $1 million.

On the show, ZipString made a listed deal with Robert Herjavec and Kevin O'Leary for $100,000 for 20%.

If treated as straight equity, the listed deal works out to about $500,000 implied valuation, down from the original $1 million implied valuation.

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

ZipString After Shark Tank

ZipString accepted an on-air Shark Tank deal for $100,000 for 20%, and later update coverage says the deal closed. (ZipString Shark Tank Update

After the episode aired, the company was plagued with backorders and ZipString had some irate customers. (ZipString Shark Tank Update

The company are also combatting numerous knock off products. (ZipString Shark Tank Update

As of July, 2023, ZipString has ironed things out and things appear to be running smoothly. (ZipString Shark Tank Update

(ZipString Shark Tank Update

ZipString remains active online through zipstring.com, where customers can find the current product line. (ZipString website

Sources

Sources used for this page: Shark Tank API pitches