RigStrips Shark Tank Update

RigStrips Shark Tank Pitch

RigStrips appeared on Shark Tank Season 16, Episode 2, which aired on October 25, 2024, with Magnetic and Adhesive Strips.

RigStrips is listed in the Fitness Outdoors category. In plain terms, the business is described as Magnetic and Adhesive Strips.

RigStrips asked the Sharks for $300,000 for 7.5% equity, implying a valuation of about $4 million.

On the show, RigStrips made a listed deal for $300,000 for 15% equity.

If treated as straight equity, the listed deal works out to about $2 million implied valuation, down from the original $4 million implied valuation.

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

RigStrips After Shark Tank

RigStrips accepted an on-air deal for $300,000 for 15% equity. RigStrips remained active after the episode. (RigStrips - Shark Tank Season 16

RigStrips with the investment, Zhach and Steven need to increase inventory to meet rising demand and test new online marketing strategies to boost sales. (RigStrips - Shark Tank Season 16

Zhach and Steven entered Shark Tank Season 16, seeking $300,000 for 7.5% equity in RigStrips. (RigStrips - Shark Tank Season 16

After RigStrips's presentation, RigStrips struck a deal with Todd Graves for $300,000 for 15% equity. (RigStrips - Shark Tank Season 16

RigStrips capitalized on its Shark Tank appearance by driving growth through targeted promotions and customer engagement. (RigStrips - Shark Tank Season 16

Sources

Sources used for this page: sharktankblog.com