Hibear Co. Flask Update | Shark Tank Season 15

Carrying several drink-making tools while camping or traveling takes up too much space and adds weight. Mark Tsigounis created the All Day Adventure Flask by Hibear Co., a single product that works as a coffee brewer, wine decanter, cocktail shaker, cold brew maker, and more. Will he shake up a deal and celebrate with a shark? Find out in our Hibear Co. update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Hibear Co. after Shark Tank.

Mark entered Shark Tank Season 15, seeking $150,000 for 5% equity in his company, Hibear Co. After his pitch, unfortunately, he didn’t shake hands with any of the sharks.

In terms of a Hibear Co. update, the company experienced a sales boost and increased attention in the months after its Shark Tank appearance. Further, they released their “Dawn Patrol” edition in July 2024 and announced plans for new products.

Shark:	Result:
Mark Cuban	No offer
Kevin O’Leary	No offer
Lori Greiner	No offer
Robert Herjavec	No offer
Emma Grede	No offer

Shark Tank Hibear Co Pitch

• Entrepreneur: Mark Tsigounis
• Business: Flask
• Ask: $150,000 for 5% equity
• Result: No deal
• Shark: None

Mark, a U.S. Navy veteran, entered Shark Tank to pitch Hibear Co., his line of multi-functional drinkware.

His main product, the All Day Adventure Flask, was designed to replace standard water bottles with a single item that performs multiple tasks.

Mark showed the sharks what the flask could do. It can make pour-over coffee, decant and aerate wine, work as a cocktail shaker, brew cold brew coffee or tea, and infuse water.

It includes an insert to keep drinks cold that also works as a muddler for ingredients like mint or lime.

The removable sleeve can turn into mugs for friends or pets. All parts fit inside the flask for compact storage.

He said he came up with the idea while hiking the 2,186-mile Appalachian Trail, where multi-purpose gear is essential. While useful for hikers, he also markets the flask to casual campers and as a customizable corporate gift.

The flask costs $15.50 to make and sells for $95. Hibear Co. sells through retail, direct-to-consumer online, and corporate orders, with corporate sales making up 40% of the business.

The company launched on Kickstarter in 2020 and delivered its first products in 2021. Since launch, sales have totaled $745,000, including $320,000 in the year before filming.

Mark projected $1 million in sales for the current year and planned to launch on Amazon the following year.

The business carried $200,000 in debt, and he was looking for an investment to grow.

Kevin O’Leary questioned why Mark focused on retail, saying direct-to-consumer sales would allow him to explain the product’s features more effectively.

Mark Cuban said the product was good but would be hard to scale and dropped out.

Guest shark Emma Grede agreed it was a solid product, but felt it was too early for her to invest.

Kevin said the $52 customer acquisition cost and the pricing didn’t add up for him, and he went out.

Robert Herjavec liked both Mark and the flask, but thought the product was too niche.

Lori Greiner, who had invested in LARQ, a self-cleaning water bottle in the past, said she was impressed with the product but wasn’t ready to invest.

With no offers left, Mark was forced to leave without a deal. Keep reading our Hibear Co. update to find out what happened after Shark Tank!

Shark Tank Hibear Co. Update

According to our Hibear Co. update, in the months following their appearance, Hibear saw a noticeable boost in sales and attention.

On July 3, 2024, Mark appeared on KOLO TV to share how things had been going since Shark Tank.

He talked about the “deer-in-headlights” moment before stepping in front of the sharks and explained how his Navy background and love for adventure inspired the All-Day Adventure Flask.

Mark revealed that Hibear partners with new artists every six months to design hidden artwork under each flask sleeve.

The “Dawn Patrol” edition was the latest release at the time, and he teased that exciting new products were on the way.

Further, Hibear has kept its focus on sustainability, remaining Climate Neutral Certified and donating 1% of sales to environmental causes through 1% for the Planet.

Their design reputation is backed by awards, including a Red Dot Award in 2020 and an iF Design Award in 2021.

If you need an award-winning flask for your next adventure, you can purchase it directly from their website. You can also see their latest designs on Instagram.

We’re closely monitoring Mark for our next Hibear Co. update. Please stay tuned to this page.

In the meantime, you can check out our other company updates from Season 15, Episode 19, by following the links below!

• Richaulist Update
• Splash Place Swim Goggles Update
• Veba Update

Before you go, be sure to check out our list of all the Shark Tank Season 15 products.