OrigAudio pitched on Shark Tank and nailed a deal with Robert Herjavec. Sales blew up after appearing on the show allowing entrepreneurs Jason Lucash and Micheal Szymczak to back out of the deal and go it alone. The company appeared on Shark Tank Episode 207 in the second season on May 5, 2011. A lot happened since their appearance in the Shark Tank. The first year sales amounted to seven-hundred-fifty-thousand dollars before appearing on the show.
They consistently are marketing via email messaging ever since appearing on the show, something almost no entrepreneur does but is paramount to creating an online success.
The key is OrigAudio leveraged their brand appearance on Shark Tank as well as QVC. They get people to sign up for their newsletter, and they are pushing new products all the time.
Mark Cuban knew there is an opportunity for the guys, so he gave them a 24-second shot clock. He said to name the percentage they want to offer for $150,000.00. All the other Sharks jumped in and made offers before Mark received a percentage offer. Mark went out after three offers from different sharks.
The company products have changed since first airing on Shark Tank, which featured their cardboard speakers and Rock-It that makes a speaker out of anything. Now OrigAudio sells backpacks, headphones, power packs for phones, lifestyle gear, and lighting.
OrigAudio sells on Amazon marketplace as well.
OrigAudio began in Mike’s garage with manufacturing products in Hong Kong. They became the US Distributor of the Rock It. The manufacturer in Japan holds the patent on the product. They claim to make “Awesome happen” and have a facility in Fountain Valley California with a team of employees and a warehouse.
The company markets via social media on Facebook at https://www.facebook.com/Origaudio/, Twitter at https://mobile.twitter.com/origaudio, Instagram at https://www.instagram.com/origaudio/, and YouTube.
OrigAudio uses a company called Constant Contact for their email campaigns. I like Aweber for creating and managing email campaigns. The important part is running marketing and promotions running to keep your list from going dormant.
Time magazine listed OrigAudio’s product one of the top 50 inventions of the year, according to an article that Jason Lucash authored in Entrepreneur Magazine. Jason writes about how important your business pitch is while sharing what his Shark Tank pitch meant to him.
Sharks who listened to OrigAudio Pitch are
OrigAudio Offers from the Sharks:
- Kevin O'Leary goes out
- Daymond John offers $300,000 for 100% of the company.
- Barbara Corcoran offers $150,000 for 25% equity
- Robert Herjavec offers $150,000 for 15% equity
- Mark Cuban is out because he gave them 24 Seconds and they ignored it.
They take a timeout and go talk about it. They come back and do the deal with “Uncle Rob” to have him in their back pocket.