Loctote Industrial Bag Co. Shark Tank Update

Loctote Industrial Bag Co. Shark Tank Pitch

Adam McBride and Don Halpern appeared on Shark Tank Season 8, Episode 22, which aired on April 21, 2017, with theft-proof bag.

Loctote Industrial Bag Co. is listed in the Travel Auto category. In plain terms, the business is described as theft-proof bag.

Loctote Industrial Bag Co. asked the Sharks for $150,000 for 5%, implying a valuation of about $3 million.

On the show, Loctote Industrial Bag Co. made a listed deal with Robert Herjavec for $150,000 for 10% + $10 royalty per bag.

If treated as straight equity, the listed deal works out to about $1.5 million implied valuation, down from the original $3 million implied valuation.

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

Loctote Industrial Bag Co. After Shark Tank

Loctote Industrial Bag Co. accepted an on-air Shark Tank deal for $150,000 for 10% + $10 royalty per bag. The on-air deal did not close. The company is still in business. (LocTote Shark Tank Update

As of July, 2022, the company is still in business and has sold over $6 million worth of their bags. (LocTote Shark Tank Update

They never got into any big retailers, but they still sell direct off their website and on Amazon. (LocTote Shark Tank Update

The official website for Loctote Industrial Bag Co. is listed as loctote.com. (Loctote Industrial Bag Co. website

Sources

Sources used for this page: Shark Tank API pitches