Draft Top appeared on
Shark Tank Draft Top Update
- Entrepreneur: Patrick Parizo and Armand Ferranti
- Business: Easily remove the top of an aluminum can
- Ask: $300,000 for 10% equity
- Result: $300,000 for 20% equity
- Shark: Daymond John
The final pitch on Shark Tank Season 12 Episode 13 came from Patrick Parizo and Armand Ferranti. Their company, Draft Top, has created a new way to enjoy a beer out of a can — by removing the aluminum top. This allows the beer to taste closer to its draft form, making it a more enjoyable drinking experience.
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However, after trying it for themselves, the sharks had a hard time removing the top without making a mess. Patrick and Armand said they had received some similar feedback from customers and had released a variety of training videos and FAQs to help address the problem.
Despite the negative feedback from its customers, Draft Top has managed to sell over $2 million in product over the companies lifetime, with $1.6 million coming in the last 8 months, partly in thanks to a successful Kickstarter. At the time of the pitch, a Draft Top costs $24.99 retail and $4.13 to make.
The fact that it was hard to use was enough to make most of the sharks weary, but Daymond John expressed interest and offered $300,000 for 20% equity. Patrick and Armand accepted the offer without hesitation and Draft Top left the tank with a deal.
In terms of a Draft Top update, it looks like Daymond has worked with Patrick and Armand to fix some of the design flaws that were pointed out in the tank. The Draft Top 2.0 is currently for sale and looks to be a much better design than the first. It also looks like Patrick and Armand are selling custom Draft Top openers that could be used as wedding or party gifts.
If we get more news on a Draft Top update, we will be sure to let you know! For updates on the other products featured on Season 12 Episode 13, be sure to check out the links below.
For more, be sure to check out our Shark Tank Season 12 Products page.