John Pinto and his wife Chelsea came into
Shark Tank BoomBoom Update
- Entrepreneurs: John and Chelsea Pinto
- Business: Nasal inhalers
- Ask: $300,000 for 10% equity
- Result: No deal
- Sharks: None
John and Chelsea quickly answered the sharks’ question about their sales numbers, explaining that their company did $750,000 in sales just in the last year alone. At the time of their pitch, they were on track to do $1,000,000 or more in sales, which certainly seemed to impress a majority of the sharks.
Packed with powerful essential oils, these all natural, plant therapy nasal inhalers will instantly soothe your nasal cavity and leave you with a feeling of cool freshness and wellness.
The sharks wanted to learn more about how the product was being sold. Surprisingly, John and Chelsea explained that most of the sales came from their very own website, or through Amazon.
Four of the sharks dropped out fairly quickly, mainly because of poor product margins. The only remaining shark was Robert Herjavec, who seemed willing to negotiate. He made an offer of $300,000 for 36% equity. After a few counteroffers, John and Chelsea decided to pass on the opportunity to make a deal with Robert and ultimately left
While John and Chelsea left the show without a deal with any of the sharks, let’s take a look at the BoomBoom update and see if this was a good move. The good news is that the company is still in business and its nasal inhaler products can be found in a variety of stores and still are sold on Amazon. In addition, the company continues to bring in a reasonable amount of annual revenue, with the company believed to be worth between $3 million and $4 million.
As you can see from our BoomBoom update, the company has performed pretty well for leaving without a deal, but it’s certainly possible their potential would have been much higher had they struck a deal with Robert or any of the other sharks. Only time will tell if they are able to remain in business and continue to bring in annual revenues for their collection of nasal inhaler products.
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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!