What Happened to Flipstick after Shark Tank?
What is a Flipstick?
Flipstick is a breakthrough tool that allows you to place your phone on a variety of surfaces. The Flipstick product is a popular innovation among teens due to its flexibility.
Akeem Shannon invented Flipstick. Akeem worked as a salesperson for a number of mobile firms before to founding the organization.
He also worked for a Fintech for a short while but was dissatisfied. He felt a stronger calling to be an entrepreneur, which he realized when he established Flipstick Company. Akeem always wanted to be his own boss, and he still does.
Aside from being compatible with a wide range of phones, the glue is also reusable. This product is a must-have since it comes with a one-year warranty that covers the cost of replacing a Flipstick if it breaks, fades, or fails to adhere.
Who is the inventor of Flipstick?
Akeem Shannon invented Flipstick. Prior to establishing the business, Akeem worked as a salesperson for a number of mobile companies.
He also worked for a Fintech for a short while but was dissatisfied. He felt a greater calling to become an entrepreneur, which he realized when he founded Flipstick Company. Akeem aspired to be his own boss, a desire he still pursues today.
After losing a Howard scholarship, Akeem was determined to have a better life.
As previously said, he worked for a number of companies until completing his magnum opus in 2017. Akeem attributes his interest in reusable adhesives to his uncle, a NASA engineer.
Back in 2018, Akeem launched Flipstick with a Kickstarter campaign that raised $10,310. He’s since made over $100,000 in sales and won the 2019 CES Retail Pitch competition.
The folding kickstand attaches to the back of any smartphone, and the adhesive material is visible when the stand is opened.
It retains its stickiness for over 1000 applications and may be reactivated by simply rinsing it under hot water.
A Flipstick costs $15 and is available in hundreds of different styles and colors. They’re currently available at kiosks around the St. Louis area, as well as at various fairs where Akeem attends (when not affected by the Covid-19 suspension) (when not during Covid-19 lockdown).
What happened to Flipstick during his Shark Tank pitch?
Akeem decided to approach Shark Tank investors for help in selling his patented product across the state. Akeem entered the Shark Tank seeking $100,000 in exchange for a 20% ownership in his business, which worth $500,000.
His first pitch is a self-penned rap that amuses the Sharks. He then demonstrates the potential of the product and distributes samples.
While the Sharks were entertained by his speech, they were not thrilled with his sales: $115,000 in the preceding 24 months and just $1,500 in a single month.
He attributes the income loss to the Covid-19 outbreak, citing the fact that the majority of his sales take place in retail outlets. As a result, he is looking for help in growing direct-to-consumer sales.
Furthermore, he claims that while sales are low, the profit margins are substantial. Each item costs 58 cents to produce and retails for $15.
That piques Kevin’s interest, and Kevin then makes Akeem the deal he sought: $100,000 in return for 20% ownership of the business at the same valuation.
Lori enters the contest and offers $100,000 in return for 25% ownership of the firm at a $400,000 valuation, effectively selling her expertise in visual products.
When Lori came, Kevin pulled out of the deal, leave Akeem with only one Shark remaining. Mark looks to be interested in joining in as well, but Akeem accepts Lori’s offer before Mark can say anything. Lori and Akeem ultimately made a deal.
What became of Flipstick following his appearance on Shark Tank?
The deal with Lori was never completed following Akeem’s on-field celebration. The company has continued to function since then.
In the week after the initial air date, the corporation increased its lifetime sales. Akeem has now successfully published his product on Amazon, where it is selling well as of July 2021.
Following his debut on the show, Akeem got two $50,000 awards. The first was a $50,000 grant from the St. Louis-based group Arch Grants, and the second was a $50,000 equity-free investment from the inaugural cohort of the Diversity, Equity, and Inclusion Accelerator at UMSL Accelerates.
Akeem is now in talks with significant retailers to have a presence in several hundred retail locations by the end of the first quarter of 2021 or the beginning of the first quarter of 2022, and the firm has annual revenue of $5 million.
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Flipstick’s Net Worth
During the pitch, the firm was valued at $500,000, since then the company is still operating and hence the company has an estimate net worth of $25 million.
What is Flipstick?
Flipstick is a tool that allows you to place your phone on a variety of surfaces, by folding the tool in one way you would use it as a kickstand and fold it in another way and you can glue the hook side of the tool to hold your phone in place.
What does Flipstick do?
Flipstick is a magnetic pad, or hook, that sticks to the back of a smartphone. By folding it in one way, it makes for a kickstand for viewing videos. By folding it into another way, user can use the magnet to glue it to the car’s dashboard or any other surface you want.
What is the purpose of Flipstick?
The purpose of Flipstick is to provide a durable solution for the problem of having to prop the phone up for any reason.
What are some examples of use cases for Flipstick?
Some uses cases include using it to position their phone for viewing their GPS location, watching a video, or any other times they would want to use a kickstand but don’t have one.
What type of phones does Flipstick work with?
Flipstick will work with all phones up to smart watches.
How many flavors are there?
There are 6 flavors available; these are Black, Blue, Pink, Red, White and Grey.
How long does it take to ship?
The Flipstick is shipped in about 2-5 days depending on where users purchase from.
How long does it take to get the orders?
It takes about 1-2 weeks for the order to be fulfilled. The delivery time varies by location.
What other colors are available?
There are no plans to bring new colors in beyond what is currently offered.
What is the cost of Flipstick?
Flipstick costs $15 for the package.
Where can it be purchased?
Flipstick can only be purchased from the Official Site or Amazon.com
Can it hold up a tablet?
Yes, Flipstick can hold up tablets as well.
Is Flipstick reusable?
Yes, this tool is 100 percent reusable and can be used over a thousand times before you need to replace it with another one.
What is Flipstick warrant?
The manufacturer offers a lifetime warranty.
What makes Flipstick is a good product?
It has got some good features and benefits for users, such as it is an innovative, convenient and flexible tool that lasts a long time (100 percent reusable).
What is Flipstick made of?
It is made up of a piece of aluminum with a magnetic pad that can hold the phone.
How do you install Flipstick?
Users just need to apply some pressure with the finger, and then it sticks on the back of their phone.
How do you remove Flipstick?
Users just need to slide it down and off.