Ink Flip Printer Ink Refill Program Update | Shark Tank Season 1

Andy Sperry developed Ink Flip to address common frustrations faced by printer users, particularly the high cost and inconvenience of replacing ink cartridges. Ink Flip offers a solution that not only saves customers time and money but also promotes environmental sustainability. In our Ink Flip update and pitch recap, we’ll find out whether this business is compelling enough for the sharks to invest in.

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

Andy entered Shark Tank Season 1 to pitch Ink Flip, seeking $150,000 for 20% equity. He left without securing a deal because the sharks believed Ink Flip was too new and risky to invest in.

In terms of an Ink Flip update, the company struggled to gain traction and eventually went out of business in 2011. Andy has moved on to another venture.

Shark	Result
Barbara Corcoran	No offer
Kevin O’Leary	No offer
Kevin Harrington	No offer
Daymond John	No offer
Robert Herjavec	No offer

Shark Tank Ink Flip Pitch

• Entrepreneur: Andy Sperry 
• Business: Printer ink refill program
• Ask: $150,000 for 20% equity
• Result: No deal
• Sharks: None

Andy approached the sharks, explaining that his business offers a convenient way to keep printers supplied with ink.

He sought an investment to scale his innovative venture and enhance customer acquisition strategies.

Ink Flip is a service designed to make printer ink refills both cost-effective and environmentally friendly.

At its core, it is a subscription-based ink cartridge refill system that eliminates the need for customers to purchase new cartridges continually.

Instead, they can order a replacement cartridge compatible with popular brands like Dell, HP, Canon, Lexmark, and Epson.

Once the new cartridge arrives, customers simply return their empty one to Ink Flip for refilling.

This closed-loop system not only ensures users never run out of ink but also reduces environmental waste.

The service is affordable, with no shipping costs, allowing customers to save up to 70% on toner expenses.

With a user-friendly approach and commitment to sustainability, Ink Flip provides a practical solution for individuals and businesses looking to lower printing costs while supporting eco-friendly practices.

During the pitch, Kevin O’Leary jokingly asked where he could get his first cartridge. 

He suggested that the big ink companies might try to shut down the business to maintain their market dominance.

This led to a discussion among the sharks about the proprietary nature of the ink cartridge business and concerns that established ink companies might crush any startup encroaching on their territory.

Robert Herjavec raised the concern by questioning why a manufacturer would willingly lose revenue to a competitor.

Andy responded by explaining that manufacturers cannot legally require users to purchase only their cartridges. 

Further, he said that the ink refills business represents a $10 billion industry.

When Robert asked about sales, Andy revealed he had made $10,000 in sales in the six months since launching his company.

However, Kevin O’Leary was unimpressed and sought clarity on the financials, asking how many customers would flip their cartridges per year, along with the cost and profit for each transaction.

With an estimated $70 in revenue per customer per year, Kevin pressed Andy on the cost of acquiring a customer. 

Andy admitted he didn’t know, stating that he was seeking the sharks’ expertise to help figure it out.

Barbara Corcoran then asked about Andy’s personal investment in the business. He disclosed that he had invested $50,000 but had yet to recoup it.

Without a clear understanding of customer acquisition costs, Kevin O. decided to exit the negotiations.

Daymond John also opted out, citing the lack of a proprietary product, and doubted Andy’s ability to execute the business model.

Robert expressed concern that Andy was looking to use his money to test the market, and he also dropped out of the negotiations.

Barbara Corcoran reflected on the hard work required to earn $150,000 and said she wouldn’t invest in a business that lacked thorough preparation.

Unfortunately, Andy left without securing a deal. Curious to know if Ink Flip survived? Keep reading our Ink Flip update to find out.

Shark Tank Ink Flip Update

Our Ink Flip update research found that the company struggled to stay afloat due to intense competition. 

Shortly after the episode aired, Ink Flip went out of business in 2011. As of this writing, Andy Sperry is now the Chief Operating Officer at Queen of the Thrones, according to his LinkedIn page.

This is our final Ink Flip update.

Would you like to learn about the other companies featured in Season 1, Episode 11? Follow the links below for our other company updates from the episode.

• Romp n’ Roll Update
• Hells Bells Update
• The Twister Update
• The Chef in Black Update

Before you go, check out our Shark Tank Season 1 page for more updates.