In a world where smartphones have become an irreplaceable part of our lives, innovative phone accessories like Flipstik are gaining significant attention. This blog post will delve into the journey of Flipstik, its founder’s story, and its current net worth. We’ll also provide an update on how the business has fared since its appearance on Shark Tank.
Overview of Flipstik
Flipstik is a unique phone accessory that utilizes a reusable adhesive technology known as synthetic setae. This technology, originally researched by NASA, allows users to attach their phones securely to various surfaces. The device, which can support up to 2 lbs of weight, is incredibly user-friendly and cost-effective, retailing at just $15.
Designed primarily to provide stable, hands-free phone usage, Flipstik is especially beneficial for social media influencers often engaged in video recording. Apart from its functional benefits, Flipstik also comes in various colours and designs, further enhancing its appeal to the younger generation.
Founder’s Story of Flipstik
The brainchild behind this innovative product is Akeem Shannon, who got the idea for Flipstik after a conversation with his uncle about NASA’s adhesive technology. Shannon founded the company in 2018 in St. Louis, embarking on an entrepreneurial journey that would be filled with its fair share of challenges and victories.
Despite initial low sales, Shannon’s vision and determination remained unwavering. His persistence eventually paid off when he secured a deal with Lori Greiner on Shark Tank, who invested $100,000 for a 25% equity stake in Flipstik. This moment proved to be a turning point for the company, paving the way for its future success.
Flipstik Shark Tank Update
After its successful pitch on Shark Tank, Flipstik has seen a significant increase in sales and market presence. The products are now available in over 400 retail stores across the US and on various online platforms, including Amazon. This expansion has led to remarkable growth in the company’s net worth, which currently stands between $1 million and $2.4 million. The company’s annual revenue has also seen a considerable increase, reaching up to $5 million.
Shannon’s entrepreneurial journey didn’t go unnoticed. His efforts were recognized when he was awarded the Entrepreneur of the Year at the UMSL Accelerate Entrepreneur of the Year Awards. This recognition further solidified Flipstik’s position in the market, indicating a promising future for the company.
The Flipstik Pitch and Deal at Shark Tank
The Flipstik journey began when its creator, Akeem Shannon, decided to pitch his innovative product on the popular TV show Shark Tank. As a passionate entrepreneur, Akeem was determined to make a mark in the world of smartphone accessories. With a simple yet practical idea, he stepped into the Shark Tank, ready to convince the investors of the product’s potential.
During his presentation, Akeem demonstrated the functionality of Flipstik, a reusable adhesive smartphone accessory that securely attaches to the back of any smartphone or phone case. By showcasing its versatility, he managed to grab the attention of the Sharks. After some negotiations, Akeem struck a deal with Lori Greiner, who saw the potential in Flipstik and was willing to invest in its growth.
Flipstik Net Worth in 2024
Fast forward to 2024, Flipstik’s net worth has shown significant growth since its appearance on Shark Tank, thanks to the hard work and dedication of its founder and the support from Lori Greiner. With a strong presence in the smartphone accessory market, Flipstik has managed to reach a net worth of over $5 million. This impressive figure is a testament to the product’s success and the relentless efforts of the team behind it.
There are several factors that contributed to the growth of Flipstik’s net worth. One of the key factors is the product’s universal appeal, as it caters to the needs of smartphone users across all demographics. The innovative design and the reusable adhesive technology have also played a significant role in attracting customers and boosting sales.
Flipstik Success After Shark Tank
Following the deal with Lori Greiner, Flipstik experienced a surge in popularity as it gained more exposure through Lori’s extensive network in the retail industry. This partnership allowed the company to secure deals with major retailers and expand its online presence, ultimately leading to an increase in sales and customer base.
The Flipstik team has also been persistent in refining and improving their product based on customer feedback and market trends. This continuous development has helped the company stay ahead of the competition and maintain its relevance in the ever-evolving smartphone accessory market.
Is Flipstik Still in Business?
Yes, Flipstik is still in business and thriving. With a strong partnership with Lori Greiner and constant innovation, the company has managed to establish a solid presence in the market and cater to the needs of smartphone users worldwide.
In conclusion, Flipstik’s net worth serves as an inspiring example of how an innovative idea, combined with the right support and hard work, can lead to significant success. As the company continues to evolve and grow, it is exciting to see what the future holds for Flipstik and its dedicated team.
Final Words!
Flipstik’s journey from a simple conversation to a successful business venture is truly inspiring. Despite the initial scepticism from some Sharks, Shannon’s determination and vision have proven to be the driving force behind the company’s continued success. With plans to introduce new products in the future, Flipstik shows a strong commitment to innovation and growth. The Flipstik net worth is a testament to the potential that lies in innovative ideas, perseverance, and the courage to take risks.
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