Flipstik appeared on Shark Tank on November 6, 2020. Founder Akeem Shannon left the tank with a $100,000 investment from Lori Greiner for 20% equity in the phone case company. Here’s a quick recap of everything that happened during the pitch as well as news on a Flipstik update after Shark Tank.
Flipstik Update After Shark Tank
- Entrepreneur: Akeem Shannon
- Business: Stick your phone anywhere
- Ask: $100,000 for 20% equity
- Result: $100,000 for 20% equity
- Shark: Lori Greiner
Founder Akeem Shannon impressed the sharks on Season 12 Episode 4 with his self-written rap about his product, Flipstik. These phone cases aim to defy gravity and stick to almost any surface even after getting dirty. To prove to the sharks how well it worked, Akeem dirtied the case in hair, sand, and spaghetti, then simply wiped it off and stuck it to a piece of glass.
However, despite his impressive pitch, things got sharky in the tank after Akeem shared that he only had $1,500 in sales in the last month, and had only sold $115,000 in sales over the last 30 months. After some concerns were raised, Akeem shared that 60% of his sales came from retail outlets, which have been severely impacted due to the COVID-19 pandemic, and that he needed the sharks help to expand his online presence.
With each case only costing $0.58 cents to manufacture and selling anywhere from $15-30, this was enough to interest Lori Greiner and Kevin O’Leary. While Kevin offered Akeem exactly what he asked for, he decided to listen to Lori’s offer and ended up losing the deal with Mr. Wonderful. However, Flipstik was able to secure a deal with Lori Grenier of $100,000 for 25% equity in the company.
Since airing on Shark Tank, there hasn’t been an official Flipstik update. However, a quick look at the website shows that there are tons of different SKUs being sold on its site, so it seems Lori has helped him with his online presence. However, it seems that there is still room to grow, as we were unable to find the product on Amazon.
If we get an official Flipstik update after Shark Tank, we will be sure to let you know!
For updates on the other products featured on Season 12 Episode 4, check out the links below:
- Jada Spices Chicken Salt Update
- Surprise Cake Popping Cake Stand Update
- Mighty Carver Chainsaw Electric Knife Update
For more Shark Tank product updates, be sure to check out our Season 12 products page!