Have you ever been to the beach or pool and worried about leaving your valuables alone while you were in the water? You’re not alone! That’s why Rob Peck, Jonathan Kinas and Avin Samtani came up with a safe for these types of occasions. Will it earn them a deal on
Shark Tank Aqua Vault Update
- Entrepreneurs: Rob Peck, Jonathan Kinas, and Avin Samtani.
- Business: Waterproof safe for the pool and beach
- Ask: $75,000 for 12% equity
- Result: $75,000 for 25% equity
- Sharks: Daymond John
Rob, Jonathan and Avin brought their Aqua Vault safe into the tank and explained how their product made outdoor water activities more enjoyable for customers. They’re safe can be locked to chairs or any stationary item and will keep cell phones, wallets, jewelry and more, safe while their owners have fun.
The company retails each vault for $39.95 and it costs $10.86 to make each unit. At the time of filming, the company had earned $87,000 in sales and they were on track to hit $100,000 by the end of that year. Several of the sharks seemed interested. Robert Herjavec loved the product, and offered the guys $75,000 for 25% equity. His offer wasn’t immediately accepted, and after hearing more problems about the company, Robert withdrew his offer.
Daymond John offered the guys $75,000 for 25% and they quickly accepted. What happened next for their company? Keep reading our Aqua Vault update to find out!
Research for our Aqua Vault update revealed some good news! Daymond finalized his offer with the company and helped boost sales rapidly in the years that followed. The company spent some time developing a second product as the estimated annual revenues of the Aqua Vault brand boosted to about $3 million per year. Products are available on the Aqua Vault website.
Would you like to learn about the other companies featured on Season 6 Episode 22? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!