What Happened to Grouphug after the Shark Tank Pitch?

What is Grouphug?

Grouphug is a technology company that creates small, easy-to-install solar panels that fit neatly and tastefully on any standard window.

The product has a rechargeable battery that allows devices to be charged at any time of day or night, as well as a USB connector for compatibility with the majority of devices, including iPhones, Androids, and AirPods.

In addition, Grouphug sells a few environmentally friendly accessories, such as their I’m No Fossil Fool tote and official Grouphug branded cap.

Who founded Grouphug?

Krystal Persuaded founded the one-of-a-kind digital start-up in Brooklyn.

Krystal graduated from Georgia Institute of Technology with the highest honours, summa cum laude, with a Bachelor of Science in Industrial Design.

As an active member of Students Organizing for Sustainability throughout her college years, she demonstrated her dedication to sustainability and social responsibility.

After finishing her education, she worked as an adjunct instructor at the New Jersey Institute of Technology, Parsons School of Design, and the School of Visual Arts.

She also worked as a Combine Accelerator at the NYC Media Lab, where she honed her business abilities.

She also worked with littleBits, a maker of STEM electronic educational toys, for six years.

She had always wanted to start her own business but was unclear what it entailed.

She was keen to develop a long-lasting product, and solar energy came up regularly in her dealings with people.

Individuals, particularly city dwellers, wished to have access to solar energy, but the constraints of apartment living make this nearly impossible. That’s when she devised the GroupHug idea.

She obtained as much information as she could about a solar product after deciding on it by asking design-related questions.

One difficulty she observed was that many people wanted solar panels but did not own a home. That was the drive for the development of GroupHug.

She founded the company in July 2019 after a successful Kickstarter campaign earned $70,760.

The cost of a single Grouphug solar panel is $149.

What Happened to Grouphug on Shark Tank?

Krystal appeared on Shark Tank season 11 episode 16 in search of $150,000 in return for a 10% share in her company. This works out to a $1.5 million valuation.

She distributes samples and provides product information.

She informs the Sharks that she needs money to expand production and cut costs.

Kevin O’Leary was eager to leave, referring to the company as a commodity. Lori Greiner withdrew because she was unsatisfied with the fact that it was too early to assess whether her product line had a potential audience.

Barbara Corcoran adored Persaud but thought the outcome was “ugly.”

Rohan Oza was more attracted by the solar cat’s design, but he suspected she hadn’t explored the business-to-business opportunities. He was also not present.

Mark sees opportunity in the business-to-business market. He believes that in exchange for sponsoring phone charging stations, corporations will purchase solar charging stations.

When he offers $150,000 for 25% of the company, he makes it clear that the price is non-negotiable. Krystal gives in.

What Happened to Grouphug Following the Shark Tank Pitch?

Krystal’s contract with Mark is fulfilled, and she continues to communicate with him via email on a weekly basis.

This episode aired for the first time on March 20, 2020, the day the bulk of the country was shut down due to Pandemic Covid-19.

It also impacted Krystal’s supply chain, delayed orders, and halted B2B and public installations.

Due to Chinese production delays, the first Kickstarter orders had not been completed as of May 2020.

The company will eventually begin sending Kickstarter rewards in September 2020.

By July 2021, the company will have solar panels in every state and annual revenue ranging from $900,000 to $1 million.

What is Grouphug’s net worth?

Krystal appeared on Shark Tank season 11 episode 16 in search of $150,000 in return for a 10% share in her company. This works out to a $1.5 million valuation.

Accepting Mark’s offer of $150,000 for a 25% ownership which brings valuation to be $600,000.

Since the Company has expanded, the current valuation is clearly larger than the one on Shark Tank.

Who are Grouphug’s Competitors?

Companies such as MPOWERD compete with Grouphug in its market segment.

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 Grouphug FAQS

 1. What is the price of a Grouphug solar panel?

The cost of a single solar panel is $149.

2. How to recharge their Grouphug?

The product has a rechargeable battery that allows devices to be charged at any time of day or night, as well as a USB connector for compatibility with the majority of devices, including iPhones, Androids, and AirPods.

3. Where can they buy a Grouphug solar panel?

A single Grouphug can be purchased through Amazon or directly from the official website.

4. Are Grouphug solar panels for indoor or outdoor use?

The product is designed for indoor use, but since it is able to withstand inclement weather, it can also be used outdoors.

5. Where do they ship to?

They ship from their warehouse in the United States to every state in the United States, Europe, and the United Kingdom.

If they reside in Europe or the United Kingdom, their order will be subject to import duty. This is due to the fact that they are importing a product manufactured in the United States.

They are not responsible for reimbursing or covering import tax payments

6. Who invented Grouphug?

Krystal Persaud is the founder of GroupHug.

7. How does Grouphug work?

The product consists of a solar panel and a rechargeable battery, which allows users to charge their phones and other devices at any time of day or night.

8. Are Grouphug solar panels portable?

The product is also portable and can be easily transported, which makes it ideal for outdoor use.

9. How much was Krystal Persaud seeking in the Tank?

Krystal was seeking $150,000 for a 10% share in her company. This works out to a $1.5 million valuation.

10. Who are the Grouphug competitors?

MPOWERD is one of GroupHug’s key competitors in the portable solar energy market segment.

11. Did she get the deal from the Sharks?

Yes, she did, Mark invested $150,000 for a 25% share in her company

12. What happened to Grouphug after the Shark Tank?

Krystal’s contract with Mark is fulfilled, and she continues to communicate with him via email on a weekly basis.

13. Is Grouphug still in business?

By July 2021, the company had solar panels in every state and annual revenue ranging from $900,000 to $1 million.

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