What Happened to Trunkster After Shark Tank?
What is Trunkster?
Trunkster is a fashionable piece of luggage that has a USB charging connector, GPS gadget, replaceable battery, and a built-in scale. Trunkster was created in 2014 by Jesse Potash and Gaston Blanchett.
By combining existing components into the Trunkster, Potash and Blanchett hoped to bring innovation and change to the luggage industry.
Using current components, the Trunkster Luggage was designed to assist manage and sustaining growing airline regulations.
Breitling, a Swiss producer of premium timepieces and aviation equipment, employs both Potash and Blanchett as designers.
Potash and Blanchett’s collaboration has resulted in the discovery of new design and innovation methodologies.
Potash is originally from Ohio, where he learned to be creative in his leisure time by stitching motifs onto old shirts or jeans and then embellishing them with other ornaments.
Who is Trunkster’s creator?
Trunkster was developed in 2014 by Jesse Potash and Gaston Blanchett. By combining existing components into the Trunkster, Potash and Blanchett hoped to bring innovation and change to the luggage industry.
They started a Kickstarter campaign to gather cash for Trunkster, which resulted in a $1.4 million donation from 7000 people. Thousands of pre-orders were placed on the Kickstarter site as the campaign continued.
The entrepreneur then started another IndieGoGo Crowdfunding campaign to seek cash for their business. The creators were able to raise 2.7 million dollars from both campaigns in 2015.
Trunkster also won the Shopify Build a Business competition in 2015, which considerably improved the product’s worth. They also went to Shark Tank to get funds for their idea.
What Happened to Trunkster During Their Shark Tank Pitch?
Potash and Blanchet decided to present their suitcase concept to Shark Tank investors to obtain funding to increase their inventory.
Jesse and Gaston entered the Shark Tank asking for $1.4 million for a 5% stake in their firm, which is worth $28 million.
They present the case and talk about its clever characteristics. Mr. Wonderful smacks it about and Robert mocks their millennial attitude while the sharks explore it.
Kevin was intrigued about how they arrived at their assessment. They’ve already made $2 million in sales. Their offer is around 20% of the standard price of $395, and they plan to send 5000 units next month.
Trunkster anticipates $9 million in sales. Lori feels it’s a tall order. Kevin argues it isn’t a $28 million firm, while Robert claims it’s only worth $8 million.
They declare they would not do $1.4 million for 30%, and Kevin claims that no one would offer them a 28 million valuation; he wants to know if they are prepared to move on that price. They are willing to deal, according to Jesse.
Barbara thinks it’s very masculine and weighty, and that customers haven’t tried it; she’s out.
Robert feels there is something there and offers $1.4 million for 30% stock shares, explaining that it is not an investment and that he will accompany them on a vacation.
Kevin desires to participate in the trade with Robert, but Robert declines.
Kevin offers $1.4 million in return for 37% ownership. Lori feels she will be able to do a lot with this, but she will spend $1.4 million to pay for half of the purchase orders.
When Mark does the arithmetic, he asserts that it does not yield large sums.
They counter Lori and Mark with $1.4 million in exchange for 5% stock shares, with the guarantee that the money would be returned in 24 months or that they will triple the equity if they do not pay it back, plus they offer one dollar per unit in perpetuity.
Mark and Lori accept the offer and walk away from the pitch with a deal.
Trunkster After Shark Tank: What Happened?
Trunkster made its Shark Tank Season 7 Episode 10 debut in 2015, when they struck a deal with Lori Greiner and Mark Cuban for $1.4 million in return for a 5% share in their company, valuing it at $28 million.
Unfortunately, the deal did not go through, and neither Lori nor Mark is still working with Trunkster.
Trunkster faced a number of obstacles that impeded its ability to establish the company. The company is no longer in business, and the founders have gone on to new projects and occupations.
Trunkster co-founder Jesse Potash appears to be gone, while Gaston Blanchet, Trunkster’s other co-founder, has left the company to work on a new project called Humanity.
TV is an interactive documentary and smartphone app for adventures, explorers, and tourists.
Hundreds (perhaps thousands) of donors have been left without their luggage and without recourse for a refund due to a lack of communication and openness.
Some fans have even considered suing the creators in a class-action lawsuit.
As of 2021, there have been no refunds. Gaston has been appearing and working at Story pod since June 2020. In an ironic twist, he raised about $240,000 on Kickstarter to get the company started.
Tumi, American Tourister, Everki, Raden, and Travelpro are some of the company’s competitors in the market.
Trunkster’s Net Worth
During the pitch, the firm was valued at $28 million. The company’s net worth is estimated to be $10 million.
How Does Trunkster Work?
Trunkster is a new concept in luggage that holds a lot more than many backpacks or rolling suitcases. It’s designed to safely encase a full-size bike for storage.
This makes it easier to leave this valuable piece of equipment at home and carry it on an airplane instead. But what is really cool about Trunkster are its other features as well.
The frame and frame straps are designed to wrap around the bicycle, making it popular for hiking, too.
Who Designed the Trunkster?
Trunkster was designed by Jesse Potash and Gaston Blanchet, who met at Maine Technical College. Their inspiration came from seeing how Portland’s bike culture has exploded over the past few years.
Where Can I Get Trunkster?
Trunkster is available to order online, but it’s also available at some retailers, including REI and SONA.
How Much Does Trunkster Cost?
Trunkster ranges from $250 to $400 depending on the size and color of the bag you choose to have.
Can the Trunkster Carry a Bike?
Trunkster was designed to safely and securely hold a bicycle. It’s a bike-carrying suitcase that can be carried by hand or on a car or plane rack.
How Do I Care For My Trunkster?
Customer can wash their Trunkster with soap and water if they want to remove a stain, but they should never use any dry cleaner’s or other chemicals on their bag.
They should also avoid using an iron when possible, as this can damage their bag. They should also avoid dry cleaning as well.
What is the shipping cost of Trunkster?
Shipping is available for an additional charge.
Can I Use Trunkster Outside of the United States?
Trunkster was designed to carry bicycles in countries other than the United States, but because it was made to carry bicycles, it wasn’t designed for traveling outside of the country.
For example, when their bags are completed, they’re ready to be shipped and packed in a box, which makes them difficult to ship internationally.
What is Trunkster warrant?
The Trunkster warrant is for a one-year warranty on repairs to the bag.
Why are there different sizes of Trunkster and what’s the difference?
Trunkster uses frame-style straps to hold its bags. The larger bags have more straps that connect the bag to the frame, while the smaller bags use less straps. Trunkster is a unique concept built around bicycle gear that’s been created in Portland, Maine.
How Do I Take Care of My Trunkster?
Trunkster recommends that you clean your case with warm water and soap if there’s a stain, but they should never use any sort of chemicals or steam cleaners on it.
What is Trunkster return policy?
If customers aren’t completely satisfied with their Trunkster, they can return it within 14 days.
How do I pay for Trunkster?
Customer can pay with a credit card or PayPal account.