Fire Fighter Turn Out Bags Shark Tank Update

Fire Fighter Turn Out Bags Shark Tank Pitch

Niki Rasor and Matt Rasor appeared on Shark Tank Season 8, Episode 16, which aired on February 9, 2017, with Bags and accessories made from firefighter turnout gear.

Fire Fighter Turn Out Bags is listed in the Accessories Gadgets category. In plain terms, the business is described as Bags and accessories made from firefighter turnout gear.

Fire Fighter Turn Out Bags asked the Sharks for $250,000 for 33%, implying a valuation of about $757,575.758.

On the show, Fire Fighter Turn Out Bags made a listed deal with Lori Greiner for $250,000 for 50%.

If treated as straight equity, the listed deal works out to about $500,000 implied valuation, down from the original $757,575.758 implied valuation.

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

Fire Fighter Turn Out Bags After Shark Tank

Fire Fighter Turn Out Bags accepted an on-air Shark Tank deal for $250,000 for 50%. The on-air deal did not close. The company is now out of business. (Firefighter Turnout Bags (FFTOB) Shark Tank Update

The new products are part of her "in stock" Probie line and includes everything from phone cases to wallets to backpacks and more. (Firefighter Turnout Bags (FFTOB) Shark Tank Update

The company isn't listed on Lori's Shark Tank Products page, which indicates the deal didn't close. (Firefighter Turnout Bags (FFTOB) Shark Tank Update

Niki did move back to her warehouse and did begin making bags with new firefighter fabric. (Firefighter Turnout Bags (FFTOB) Shark Tank Update

The founder still continues to make custom bags in both the repurposed line and the new material. (Firefighter Turnout Bags (FFTOB) Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches