Don’t you wish beach gear was easier to carry, set up, and pack up? Greg Besner and Leslie Hsu have a chair for you. The Sunflow chair is portable and lightweight and comes with all of the accessories you need to enjoy your time at the beach. Find out if their
If you’re short on time, here’s a quick overview of what happened to Sunflow after
Greg Besner and Leslie Hsu appeared on
|Accepted deal of $1 million for 5% equity + $5 per chair royalty until $1 million recouped
Shark Tank Sunflow Update
- Entrepreneurs: Greg Besner and Leslie Hsu
- Business: Easy-fold beach chairs with accessory options
- Ask: $1 million for 6% equity
- Result: $1 million for 5% equity + $5 per chair royalty until $1 million recouped
- Shark: Kevin O’Leary
Leslie Hsu and Greg Besner brought their solution for a fun and easy beach day to
Not only is the product impressive, but Leslie and Greg have the sales numbers to back it up. In the 13.5 months since launch, it has had $2.9 million in sales.
Obviously, these numbers impress the sharks, but most are worried about the high valuation.
Similarly, they express concern about the price of the chairs. Each chair retails for $200 without the accessories, which seems a bit expensive.
Guest shark Daniel Lubetzky is the first to make an offer. He wants to give them $1 million for a 22.5% stake.
However, instead of addressing Daniel’s offer, Greg continues talking to the other sharks about how they’d make money. Mark Cuban, in particular, is worried about making any investment back.
Because Greg and Leslie took too long with the other sharks, Daniel retracts his offer and goes out.
Mark can’t get over the high valuation, and because of this, he goes out.
Barbara Corcoran, on the other hand, thinks that Greg and Leslie are overconfident. She doesn’t share their confidence in the business and goes out as well.
Lori Greiner follows next, stating that she thinks their sales will trail off. This leaves Kevin O’Leary.
While Kevin struggles with the valuation, he ultimately offers $1 million for 4% equity, with a $5 royalty per chair until he recoups $2 million. However, Greg thinks this offer is way too aggressive.
After haggling back and forth, the couple finally gets Kevin to agree to $1 million for 5% equity, plus a $5 per chair royalty until he recoups $1 million. Sunflow leaves the tank with a Mr. Wonderful deal.
So, how has the company fared since its appearance? Check out our Sunflow update to see if Kevin’s investment helped the company.
Our Sunflow update research revealed that the company has released more accessories since airing on
Now a sunglasses case, towel, and bikini bag are available on the Sunflow website. Greg and Leslie have hinted at more products on the way, so we’ll be keeping an eye out!
Additionally, the company recently partnered with the designer Shoshanna to collaborate on a coordinating line of beachwear and beach chairs.
Even after the increased awareness from their
Unfortunately, the deal with Kevin fell through. Nonetheless, the company was able to raise $3.5 million from investors.
Needless to say, even without the backing of a shark, this company is making big moves. We can’t wait to see what the next Sunflow update will show!
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Curious about our other company updates from Season 13? Take a look at our Season 13 products page before you go.
Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!