Kayaks are a hassle to haul and store. That’s why friends Anton Willis, Roberty Gutierrez, and Andy Sobhani set out to solve this problem. They engineered a kayak that can be folded down so efficiently, it can be carried on a shoulder strap. Will they earn a deal on
Shark Tank Oru Kayak Update
- Entrepreneurs: Anton Willis, Roberto Gutierrrez, Ardy Sobhani
- Business: Folding kayak
- Ask: $500,000 in exchange for 12% equity
- Result: $500,000 in exchange for 25% equity
- Sharks: Robert Herjavec
Anton, Roberto and Ardy brought their foldable Oru Kayak to the tank. Its most impressive feature is that it unfolds into a 26-pound watertight boat.
THE ORIGINAL ORU KAYAK – Meet the boat making waves in the kayaking world and helping people everywhere connect with the water. Innovative, fold-out Bay ST is stable enough for beginners, but its contoured shape maneuvers stronger waters too!
The kayak costs about $505 to make, and sells for $1,100. The trio’s company had sold over 1,200 kayaks, primarily online, for a total of $1.1 million in sales during the then-current year. They expected to close the year at about $1.4 million.
Mark Cuban and Barbara Corcoran both said it wouldn’t be a good fit for them. They were both out. Kevin O’Leary and Daymond John were next to go out, over financial concerns.
The only remaining shark was Robert Herjavec, and he offered $500,000 in exchange for 25% equity. Anton made a counter for 15% equity and a seat on the board. Robert said he expected to have a seat on the board anyway, and he wasn’t interested in 15% equity. Anton countered again with 20% equity, but Robert again declined.
The guys ultimately accepted Robert’s original offer of $500,000 in exchange for 25% equity. What happened next for the company? Keep reading our Oru Kayak update to find out!
We have great news to share in our Oru Kayak update! While the deal with Robert didn’t go through, the company managed to stay afloat. In September 2021, the brand sold to Solo Stove for an undisclosed amount. Anton and Ardy stayed on as executives, and the company has an estimated annual revenue is $8 million. Products are available on the Oru Kayak website, and on Amazon, with several foldable models available.
Would you like to learn about the other companies featured on Season 5 Episode 28? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 5 Products Page!
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!