Shark Tank Pitch
Hyconn Shark Tank Update
Published:
2m
Arkansas
| Name | Hyconn |
|---|---|
| Main Presenters | Jeff Stroope |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 5/6/2011 |
| Main Location | Arkansas Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | All Sharks went Out |
Hyconn Shark Tank Pitch
Jeff Stroope is a firefighter who has spent the last 11 years working on Hyconn in his spare time. Hyconn is a device that saves about eight seconds when connecting a firehose to a fire hydrant, which by my calculations, is irrelevant.
Jeff is selling Hyconn to the budget-constrained fire departments at about $7k of products to outfit a station. Hyconn's improvements are minuscule, and so far, he has not been able to get huge interest other than a few purchase orders and an offer to help with distribution if he can get $500k worth of inventory.
Once Jeff pulls a prototype version of his latch for the typical hose, the sharks wake back up. Mark makes a huge, $1.25 million, offer for the whole company, and Kevin quickly follows suit but only for the garden hose part of the business.
Jeff scored big time with his deal with Mark Cuban.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $500k for 40% of Company | |
| Sharks | Out | Daymond John | Out |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Deal Never Closed | Mark Cuban | $1.25 million for 100% of Company and three year $100k salary and a 7% royalty to Jeff |
| Sharks | Offered | Kevin O'Leary | $500k for 100% of garden hose product and a 3% perpetual royalty to Jeff |
| Sharks | Out | Robert Herjavec | Out |
Mark Cuban
Deal Never Closed
Daymond John
Out
Kevin O'Leary
Offered
Barbara Corcoran
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Hyconn After Shark Tank
Mark Cuban must've come to his senses and realized he was throwing over $1.5 million down the drain. In negotiations to finalize the deal after the show, Mark and Jeff Stroope came to unresolvable disagreements and the deal fell through according to Shark Tank Blog .
Link Preview
Shark Tank Blog
https://www.sharktankblog.com/mark-cuban-dumped-hycon
Another company, 101 Ventures, eventually took an equity stake in HyConn in 2011 with the intention to manufacture units, however nothing has come of Hyconn since then. The website http://www.hy-conn.com is still up but serves only as an educational piece and a memory.
Link Preview
http://www.hy-conn.com
https://hy-conn.com/
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