Umano Shark Tank Update

Umano Shark Tank Pitch

Jonathan Torrey and Alex Torrey appeared on Shark Tank Season 7, Episode 9, which aired on November 19, 2015, with apparel company featuring children’s artwork.

Umano is listed in the Children category. In plain terms, the business is described as apparel company featuring children’s artwork.

Umano asked the Sharks for $150,000 for 15%, implying a valuation of about $1 million.

On the show, Umano made a listed deal with Lori Greiner and Mark Cuban for $150,000 for 20%.

If treated as straight equity, the listed deal works out to about $750,000 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.

Umano After Shark Tank

Umano accepted an on-air Shark Tank deal for $150,000 for 20%. Follow-up reporting lists the post-show status as out of business. (Umano Shark Tank Update

After appearing, the boys got a boost from the "Shark Tank effect," but in March, 2017, they decided to discontinue the brand. (Umano Shark Tank Update

Torrey says, even though he's discontinuing the brand, he expects "to have more entrepreneurial endeavors in my future." He plans on starting another social entrepreneurship style business that he can scale even bigger than Umano for a bigger social impact. (Umano Shark Tank Update

Even though he has no idea what business he plans starting in the future, he wants to take the lessons he's learned and apply them to bigger and better things. (Umano Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches