Drop Stop Shark Tank Pitch
The Drop Stop is the answer to the Carmuda Triangle, the place that is between your console and your car seat. no more dropping keys or other important items in between your seat and console because that space becomes filled.
Avoid car accidents, because items won't go into the black hole in between your car seats. The Drop Stop sold more than $1.3 million since inception coming into their Shark Tank pitch.
They have over $750,000 investment from friends and family before having Lori come into the company. The pair had movie business aspirations and are accidental entrepreneurs/inventors.
Drop Stop Shark Tank Episode Data
- Company: Drop Stop –Website
- Entrepreneur: Marc Newburger and Jeffrey Simon
- Ask: $300,000 for 15% equity
- Episode Season 4 Episode 420
- Companies in this episode:
- Drop Stop
- Traditional Fisheries
- Simple Sugars
- Coolwraps
- Buggy Beds – Featured Update
- Sharks:
- First Aired: 03/28/2013
- Deal: Lori Greiner $300,000 for 20% equity
What do the Shark Tank Investors say about Drop Stop?
- Mark Cuban – feels he cannot add value to the business. He is out.
- Daymond John – likes the idea of the product, and it has sales, but still doesn't invest. He is out.
- Kevin O'Leary – offers $300,000 with a royalty of $2 per unit. Kevin jumps back in after Lori makes her offer, changing his deal to $1 per unit after he gets his money back.
- Lori Greiner – clams she can make Jeffrey and Marc millionaires selling this product on QVC and in Bed, Bath and Beyond. She offers $300,000 for 20%. Lori paints a picture of them receiving a million dollar check while sailing around Martha's Vineyard. The guys take the deal.
- Robert Herjavec – doesn't believe the product is necessary. he is out.
Drop Stop after Shark Tank
Mark Newburger and Jeffrey Simon are successful with over $24 million in sales, but they still live a humble lifestyle and are paying out the original investors with deals that they made. To them, this is a lifestyle play, but the Drop Stop is big business! And, Mark Newberger is still sleeping on Jeffrey Simon's couch!