Nubrella Umbrella Update | Shark Tank Season 1
Ordinary umbrellas will oftentimes break in bad weather. That’s why Alan Kaufman created an umbrella that he says is impossible to invert, protects from rain and wind chill, and can even be used hands-free. Will he earn a deal on
Shark Tank Nubrella Update
- Entrepreneur: Alan Kaufman
- Business: Hands-free umbrella that protects against wind chill
- Ask: $200,000 for 25% equity
- Result: $200,000 for 51% equity
- Shark: Daymond John and Kevin Harrington
Alan entered
Alan told them that the product had sold 3,000 units just through word of mouth.
He stated that he’d recently changed manufacturers, which brought the price per unit down to $29 from $49. Each unit cost $14 to make.
Barbara Corcoran was interested in the weight of the Nubrella, and Robert Herjavec wanted to know whether it stayed on during cycling, which it did.
Daymond John asked about a patent, and Alan said he had a US patent and patents pending around the world.
Barbara thought it was too much of a sports product, so she went out followed by Robert.
Kevin Harrington was interested in the unique concept of the product, and offered $200,000 for 65% equity. Kevin O’Leary went out stating he couldn’t compete with the other Kevin.
Alan declined Kevin H.’s offer and said he could only go as high as 35% equity.
Daymond offered to join in with Kevin H. for $200,000 at 60% equity.
Alan said he wanted their expertise, but that the equity was too high. He countered with 50%.
They countered with a 51% controlling stake in the company.
Alan accepted their offer and walked out of
Our Nubrella update reveals that the deal with the sharks never happened. Kevin backed out, and Daymond couldn’t leverage enough on his side.
Despite this setback, the company is still in business. It has since been rebranded as Canope, and is enjoying a resurgence. The website is currently down, but the product is available on Amazon.
We will keep you posted if we get any more Nubrella updates.
Are you interested in the other companies that appeared on Season 1 Episode 14? Follow the links below to see how they performed on the show.
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Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!