What Happened to PolarPro After the Shark Tank Pitch?

What is PolarPro?

PolarPro manufactures high-quality GoPro camera, smartphone, and drone accessories such as microphones, tripods, cameras, mounts, extension poles, filters, and cases.

PolarPro is a California-based company that caters to action sports enthusiasts and filmmakers all over the world. PolarPro works on a simple business model.

Jeff Overall founded the company with the goal of inventing, producing, and selling accessories for popular cameras like the GoPro.

Who is the Founder of PolarPro?

Jeff Overall, PolarPro’s founder and CEO, studied economics and accounting at the University of California, Santa Barbara.

His first business as a teen was collecting hermit crabs and selling them to aquarium owners online.

Overall is a risk-taking photographer who has turned his hobby into a thriving business.

While in college, I planned to utilize a GoPro to photograph the ski team in action.

Unfortunately, his video was overexposed. He discovered polarized film and coated the lens of his GoPro with it.

On his second attempt at filming the ski team, he put it to the test and realized that he’d solved the exposure problem.

While his college pals were partying around him, Overall began cutting little circles out of polarized film sheets.

If the improvised lens filters weren’t saturated in beer, they’d fit snuggly between the GoPro’s lens and shell.

During a class session, Overall discovered that he wasn’t the only one who had overexposure using a GoPro.

At the moment, he recognized that his polarized lens filter idea may be useful to other GoPro users. This discovery would serve as the foundation for PolarPro’s humble beginnings.

What Happen to PolarPro at the Shark Tank Pitch?

Jeff appeared on Shark Tank Season 7 Episode 8 in quest of $500K in return for 10% of his business. This equates to a $5 million valuation. “DUDE!” yells Mark. He goes through his product line.

PolarPro’s three most popular things are the Polar Pole – the world’s only battery-powered selfie stick – a case that allows users to charge multiple devices, and picture filters for drones.

He wonders who among the Sharks “wishes to ride this exquisite wave?”

He claims to have profit margins of 71 to 300%. Polar Pro currently has 31 products, all of which they design and manufacture.

“How much are the fillers worth?” questioned Robert. Jeff informed him that the filters were available in a variety of sizes. The three-pack retails for $69.99, while the six-pack retails for $149.99. It cost around $12 to manufacture.

In 2011, they made $8,000 per year. They earned $2.8 million as a result of this.

The company intends to generate $5.6 million in sales in 2015. They haven’t made much money since they reinvest in product development to stay competitive.

Polar Pro had its start while Jeff was filming ski team videos at UC Santa Barbara.

He was concerned as to why his movies were lacking in resolution, and he discovered that he lacked efficient filters. He looked into filters and started making his own using $2000 from his student loan.

Profits are just $300,000 this year since they spent more than $1 million on R&D at the time, with the majority of the money going into tooling and product design.

They have 1200 retail locations, all of which are small photography and diving shops. Polar Pro is the third largest drone aftermarket firm. Drone filters are a big seller, and Jeff estimates that with the growth of drones, the company might be worth $40-$50 million.

Mr. Wonderful has chosen to exit the consumer electronics business due to overcrowding. Mark claims he wants to make the greatest possible offer and doesn’t want to waste time, so he offers $500K for 10%. Jeff says he’d want to hear additional suggestions out of deference.

Daymond offers $500K in exchange for 15% stock, saying that he can help PolarPro with all of their licenses.

Lori states she requires a solid strategic partner and offers $500k in exchange for 10% of the firm.

Robert says he’ll join Lori or Mark for an additional $500,000 for a 10% share.

Jeff agrees to a $1 million contract with Mark and Robert in return for 20% – 10% for each Shark.

Mark and Robert have agreed to a $1 million deal at a 20% discount.

What Happened to PolarPro After the Shark Tank Pitch?

The arrangement with Robert and Mark never came to fruition, but the business is still going strong. In August 2021, annual income is estimated to reach $2 million.

What is the Net Worth of PolarPro?

PolarPro is reported to have a net worth of more than $15 million.

Who are the Competitors of PolarPro?

Benro, Vocas Systems, LensCoat, Mila Wholesale, Kinotehnik, Gonoise, Olloclip, and Aputure are among the competitors of PolarPro.

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PolarPro FAQS

What is PolarPro?

PolarPro is a maker and creator of video equipment attachments and filters for GoPro, cellphones, and drones based in the United States.

Who is PolarPro’s founder?

PolarPro was founded by Jeff Overall.

How much was he asking in the Shark Tank?

Jeff Overall was asking for $500,000 for a 10% stake in the firm.

Did he land a deal on Shark Tank?

Yes, he did get a contract from Shark Tank.

How much was the deal?

He negotiated a $1 million investment in return for 20% ownership of the company.

Where is PolarPro located?

Polar Pro Filters Corporation is a firm situated in Newport Beach, California that works in the Electronics and Appliance Stores market.

What exactly is the business model?

PolarPro works on a simple business model. It creates and distributes video equipment accessories and filters for GoPro cameras, cellphones, and drones.

What is the net worth of PolarPro?

PolarPro is reported to have a net worth of more than $15 million.

Is PolarPro still in business?

PolarPro is still in operation, with a yearly income of $2 million.

What is PolarPro’s annual revenue?

Polar Pro’s annual revenue is $2 million.

Can they use the BaseCamp Matte Box with a lens that has a front diameter of 114mm?

Yes! Without the use of adapters, the BaseCamp will clamp onto lenses with a 114mm front diameter.

Can they use a wide-angle lens with the BaseCamp or Summit?

Lenses with a large bubble element or a non-removable hood on the front will often not fit into the Summit or BaseCamp.

Can they make a purchase in person at the Costa Mesa location?

For the time being, their storefront is not open for walk-in purchases.

Do they sell individual parts for their mounts?

No. Mounts may only be purchased in their current state and cannot be altered.

How long will it take for their order to be processed?

Please allow up to 24 hours for all orders to be processed.

When will their order be delivered?

If the items are in stock, orders placed before 12:00pm PST (Monday-Friday) will ship the same day. Saturdays and Sundays are no-ship days.

What Shark Tank episode is Polar Pro in?

Jeff Overall introduces Polar Pro, his brand of GoPro Camera filters and accessories, on Shark Tank Season 7 Episode 8.

Are PolarPro ND filters worth it?

Simply said, because they give such accurate colours and tonal clarity, these filters are definitely worth the money.

They are not only competitive in terms of quality and price when compared to other, more costly filters, but they also receive two filters for the price of one when using an ND-PL.

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