PolarPro makes various GoPro camera accessories, including filters, selfie poles, charging cases, and more. Jeff Overall, the creator of the company, saw a huge gap in the market when it came to quality GoPro accessories. Now, the company sells over 31 products. Will the sharks take a bite out of this deal on
Shark Tank PolarPro Update
- Entrepreneur: Jeff Overall
- Business: GoPro filters and accessories
- Ask: $500,000 for 10% equity
- Result: $1 million for 20% equity
- Shark: Robert Herjavec and Mark Cuban
PolarPro’s best products included a battery-powered selfie stick, a charging case for multiple devices, and filters for both your GoPro and drone. At the time of filming, PolarPro was on track to do over $5 million in sales – and with product margins of up to 300%, the sharks were all ears.
Engineered specifically for the HERO8 Black camera (only Compatible with Hero8 Black).
HotSwap Magnetic Filter Base allows for quick filter changes and removals.
Includes ND8, ND16, ND32 filters for all lightning conditions.
Jeff started making these filters and accessories when he was pursuing quality for his recordings. Using his student loan money, he started making his filters. Product design continued to cost Jeff, so his profits were low.
Still, PolarPro was already in 1,200 retail locations and was the third-largest aftermarket drone-related company. Despite all of these impressive credentials, Kevin O’Leary was out immediately. He said consumer electronics was just too crowded for him.
Mark Cuban, on the other hand, wanted to make the right offer. He offered Jeff $500,000 for 10%, but Jeff said he wanted to hear other offers. Daymond John made an offer, too: $500,000 for 15%. Lori Greiner was also interested so she made an offer of $500,000 for 10%.
Robert Herjavec was interested and said he’d go in with Lori or Mark if they could double the deal. Daymond comes back in with a new offer of $1 million for 17.5%. Jeff asks Mark if he’d go in with Robert at $1 million for 20% and both Mark and Robert agree to the deal! Keep reading our PolarPro update to see how the company is doing now.
We found good news for our PolarPro update! While the deal never closed, the company is doing extremely well. Despite not getting any sharks to help him out, Jeff elevated his company to about $4 million in revenue per year.
You can purchase all of the GoPro accessories made by PolarPro (with new ones coming all the time) on Amazon as well as the PolarPro website.
Don’t go before you get a chance to check out our company updates from the rest of Season 7 Episode 8.
For more on companies and products, stop by our Season 7 Products Page.