Bad posture can massively contribute to your back pain. It’s a problem, especially for the way we work and sit today. Katherine Krug created BetterBack, a posture support and correction device that turns any chair into an ergonomic chair. What will the sharks think of this simple correction device on
Shark Tank BetterBack Update
- Entrepreneur: Katherine Krug
- Business: Posture correction device for any chair
- Ask: $750,000 for 7.5% equity
- Result: $750,000 loan at 7.5% interest and 8% equity
- Shark: Lori Greiner
BetterBack allows you to effortlessly sit in perfect posture, easing back pain—and helping prevent it. Lightweight and portable, it makes every chair ergonomic.
When she handed out samples, the sharks take a moment to try the devices on. It turned out that there was a learning curve with putting it on, but it gets easier over time. Barbara Corcoran said that the device looked intimidating, but it was comfortable once installed.
Each belt system cost $8.05 to make and retails for $49. Her successful Kickstarter gave her a lot of funds to go towards her product. She mentioned that her plan is to ‘growth hack Amazon’, but Mark Cuban wasn’t happy with that response.
Even though she thought that the belt was comfortable and helpful, Barbara thought the business was overvalued. She went out as a result. Mark went out too, stating that the valuation was more important and that Katherine’s pitch ended up pigeon-holing her. Robert Herjavec, on the other hand, was interested.
Robert offered $750,000 for 20% equity because of the risks. Kevin O’Leary offered $750,000 for 25% equity, which he thought was a reasonable value. Lori Greiner was interested as well, as she loved products that could be demonstrated. She offered $750,000 for 20% equity.
This caused Kevin to counter with a $750,000 loan for 24 months at 7.5% interest and 5% equity. Lori adjusted her offer to the same loan, but for 36 months and 8% equity. Katherine countered Lori’s offer for 7.5% equity, but Lori asks her if she really wants to quibble over half a percent. Katherine agreed to Lori’s offer! Where is the company now? Find out in our BetterBack update.
Our BetterBack update research revealed that the deal with Lori never closed. However, the company is thriving today. BetterBack is available on Amazon and the company website but sold out for a time after the episode aired. As of 2022, the social media accounts for this company are active and engaging. The company has estimated annual sales of around $5 million!
Want to find out where the other companies from Season 7 Episode 20 are today? You can find our company updates here.
For more on companies and products, be sure to stop by our Season 7 Products Page.
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!