The Johnson family’s parents asked their kids to create toys, and they came up with a bracelet that doubles as a game. Now, the Johnsons need a shark to help grow their family business. Will they get the investment they need on
If you’re short on time, here’s a quick overview of what happened to Flipoutz after
Flipoutz appeared on
|Daymond John, Kevin O’Leary, and Robert Herjavec||Accepted deal of $100,000 for 33% equity|
|Barbara Corcoran||No Offer|
|Barbara Corcoran||No Offer|
Shark Tank Flipoutz Update
- Entrepreneur: The Johnson Family
- Business: Toy bracelet accessory
- Ask: $100,000 for 20% equity
- Result: $100,000 for 33% equity
- Shark: Daymond John, Kevin O’Leary, and Robert Herjavec
The Johnson family brought Flipoutz to
Each family member spoke about what they contributed to the concept, and Erin passed around samples to the sharks. Flipoutz is a silicone bracelet with 5 personalized coins that kids wear, trade, and track online.
Impressed by the kids, Robert Herjavec asked them about sales. Lachlan shared that they’ve only been selling for six months and have sold over $20,000 in products.
Kevin O’Leary asks them where they sell the product, and the family shares that it is mainly online sales and through a partnership with a souvenir distributor.
Daymond John asks about the cost, and the family says they make one bracelet and one coin for $0.69. Further, the bracelet then retails for $4.99.
He then wants to know how the coins can be tracked online. Jake explains the process, sharing that each user creates a history for each coin.
Robert asks how much money has been spent so far and Jake says his parents have invested around $250,000 in the business, which has mostly gone into the website.
Kevin O. asks what makes it stand out and Emily says they have a patent pending for the code on the back.
Barbara Corcoran has concerns over the patent, so she drops out. Kevin Harrington goes out next because he thinks the product is too risky.
Emily and Robin add that they’re in the process of closing a deal for a huge purchase order with a company paying for 30% of the inventory upfront.
This makes Daymond put an offer on the table of $100,000 for 33%, contingent on patent approval.
Kevin O. asks Robert if he will team up with him, and remove Daymond from the equation. They also offer $100,000 for 33%.
Daymond responds by lowering his stake and changing his offer to $100,000 for 25%. Kevin O. asks the family to leave while the sharks confer.
When they return, Kevin O. offers the same deal of $100,000 for 33% equity. However, this time both Robert and Daymond are on board. Jake counters with $150,000 for 33% equity.
Daymond and Robert step out of the counter and Kevin O. offers a 3-shark deal of $100,000 for 33% equity of Flipoutz. The kids accept and leave
What do you think happened to Flipoutz following the show? Keep reading our Flipoutz update to find out!
We have mixed news to share in our Flipoutz update. After airing on
Then, in 2013, the kids sold their company to Wild Craze, for an undisclosed amount. In 2015, they rebranded to Snap Tagz, but the company has since shut down.
The Johnson kids, now adults, have since moved on to other projects. This will be our final Flipoutz update.
If you would like to read about the other companies featured in Season 2 Episode 3, check out the links below.
For even more on companies and products, be sure to stop by our Season 2 Products Page before you go!
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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!