Steve Maloney and Stephen Kirkpatrick, created a line of camouflage gear. Will it earn them a deal on
Shark Tank Muddy Water Camo Update
- Entrepreneurs: Steve Maloney and Stephen Kirkpatrick
- Business: Advanced camo apparel
- Ask: $150,000 for 5% equity
- Result: No deal
- Shark: None
Avid duck hunter Steve came to the tank to pitch his line of camo gear, Muddy Water Camo, along with his business partner Stephen, a wildlife photographer. To demonstrate the design of the products, Stephen hid behind some prop tall grass halfway through the pitch.
Kevin O’Leary cut right to the chase, applauding the design and agreeing that it was better than the competition. Daymond John asked if they were selling the apparel to other clothing manufacturers as part of a licensing deal, or if they were selling direct. Steve said they were currently doing both to the tune of $150,000 year to date.
Kevin cut in again and asked for an explanation regarding the $3 million valuation since the sales were comparatively low. Steve said the figure was based on the size of the market, an answer the sharks didn’t like, and that they had sold 16% of the company already to other investors and hunters at a $2.5 million valuation.
Lori Greiner asked what stores Muddy Water Camo was sold in, and Steve said 58 locations carried the product. Daymond asked if they were in any of the big ones like Walmart or Dick’s, but Steve said they were not. Robert Herjavec jumped in here, and said the product wasn’t right for him so he was out. Lori was next to go out, as she didn’t like the valuation. Damyond and Mark Cuban followed out for the same reasons.
As the saying goes, all roads lead back to Mr. Wonderful. He decided to make an offer of $150,000 for 20% equity. Kevin added that he was not interested in retail, and instead felt they should focus solely on licensing deals. Steve and Stephen declined the offer. Mr. Wonderful asked if they had a counter in mind, but Steve said Kevin wouldn’t want to hear it. With that, the pitch was over.
The camouflage must’ve been too good, as the sharks didn’t see much there during the pitch. Then again, a $3 million valuation is very distracting when your sales aren’t even close. Did Steve, Stephen, and Muddy Water Camo succeed anyway? Keep reading our Muddy Water Camo update to find out!
Research for our Muddy Water Camo update revealed overall good news. In 2016 the company rebranded itself as Clear Image Camo, but in 2019, Clear Image Camo would go out of business. One of Muddy Water Camo’s investors, Will Clark, who purchased a majority share, began operating a website called Muddy Water Outdoors. As of 2023, Muddy Water Outdoors remains in business, and annual revenue is estimated between $1 million and $2 million. Even with all of the changes the company has had, Steve still lists himself as the company president on LinkedIn.
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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!