The YoNo Clip appeared on Shark Tank Season 12 Episode 12 and was pitched by entrepreneurs Michael Green and Bob Mackey. After making the sharks laugh with their “germs and dirt” tagline, Michael and Bob managed to land a deal for their suction cup product. Here’s a recap of the pitch and a YoNo Clip update!
Shark Tank YoNo Clip Update
- Entrepreneur: Michael Green and Bob Mackey
- Business: Clip to keep personal items off of the ground
- Ask: $150,000 for 15% equity
- Result: $150,000 for 30% equity
- Shark: Daymond John
During the YoNo Clip pitch on Shark Tank Season 12, Michael Green and Bob Mackey showcased their product to the sharks, which aims to a solution to keep your bag, purse, gym towel, and other personal belongings off of the floor and free from germs. The product started as an idea on Kickstarter and after it was successfully funded, the entrepreneurs got to work on turning the idea into a business.
At the time of their pitch in the tank, YoNo Clip had been selling product for two months, with only $4,500 in sales. Currently, the clip retails for $20 and costs $10 to make. Michael and Bob shared that if they could get a deal with the sharks, they’d be able to reduce the manufacturing costs of the clip and increase their profit margins.
As some of the sharks pointed out, there are some similar products on the market that allow you to hang your bag, gym towel, and other belongings from a table and keep free from germs and dirt, but most of those simply clip onto the side of a table. The YoNo Clip is unique because it can suction to almost any surface and can hang vertically, horizontally, diagonally, or upside down.
The unique innovation of the product and the overall character of Michael Green and Bob Mackey were enough to interest Daymond John, who made them an offer of $150,000 for 30% equity. After thinking about it for a few minutes, Mackey and Green accepted the offer and YoNo Clip left the tank with a deal.
In terms of a YoNo Clip update after Shark Tank, it seems it’s currently being sold on its website, in a variety of different colors like red, white, black, and more. Going forward, the entrepreneurs will likely work with Daymond to reduce the costs and increase the online visibility of the clip.
If we get a more official YoNo Clip update, we’ll be sure to update this article. For more product updates from Season 12 Episode 12, be sure to check out the links below.
For more Shark Tank Season 12 company and product updates, be sure to check out our Season 12 Products page.