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Shark Tank update: What happened to Flated after the show? Details explored
Shark Tank, the popular television show where entrepreneurs pitch their businesses to a panel of seasoned investors, has launched countless products into the spotlight. In season 14, Flated, a brand specializing in inflatable truck accessories, caught the attention of the Sharks and viewers alike.
Founded by Ken Hoeve, Monique Keefer, and Ryan Guay, Flated offers inflatable solutions for truck storage, including the Air Topper, Air Carrier, and Air Deck. These products cater to truck owners who seek convenient, space-saving accessories without permanent installations.
During their pitch, the Flated team secured a deal with Daymond John, who offered $350,000 in return for an 8% royalty per unit sold until his investment was recouped, dropping to a 5% royalty after that point.
Since its appearance, Flated has continued to grow its brand, expand its product line, and reach broader markets.
Daymond John’s investment for Flated in Shark Tank
When Flated’s founders appeared on Shark Tank, they presented an ask of $350,000 for 5% equity, aiming to boost their company’s growth and strengthen their retail presence. Daymond John, intrigued by the brand’s inflatable products, offered an alternative deal with an 8% royalty on every unit sold until he recovered his investment, dropping to a 5% royalty afterward.
Recognizing the potential in John’s strategic approach and industry expertise, the founders accepted the offer, establishing a partnership intended to boost the brand’s presence in the outdoor and automotive accessories markets. By mid-2023, reports confirmed the deal had closed, and John’s involvement helped shape the company’s trajectory.
With John’s guidance, Flated launched 'touch to trust' marketing events, a hands-on strategy where potential customers could interact with the products firsthand.
This approach addressed consumer concerns about durability and functionality, often dealt with inflatable products, by offering them real-life experiences with the items.
The brand expanded its distribution networks, bringing Flated products to retailers like REI.com and independent automotive accessory stores nationwide. These strategic initiatives broadened Flated’s market reach, establishing a foundation in the truck accessory market and fostering customer trust.
Pricing for Flated’s products varies based on the item. The Air Topper, designed for standard-sized pickup beds, is priced at $1,899, similar to the cost of a traditional hard cap.
The Air Carrier, an inflatable roof locker, is available for $629. The Air Deck, an inflatable truck bed mattress, costs $549.
Flated's financial milestones after Shark Tank
Following its Shark Tank appearance, Flated has maintained and expanded its line of inflatable products. Initially known for its flagship items, the Air Topper, Air Carrier, and Air Deck, the company introduced an inflatable picnic table with chairs in 2023. This is aimed at attracting outdoor enthusiasts who value compact, portable solutions.
This addition complements Flated’s existing products and broadens the brand’s appeal among adventure-driven consumers. With products designed to fit into small duffel bags when deflated, Flated continues to cater to customers seeking efficient storage options for trucks and outdoor activities.
The company’s financial growth has been remarkable. From sales of $277,000 before their Shark Tank appearance, Flated’s monthly revenue reached over $750,000 by mid-2024, with a projected annual revenue of $9 million.
This increase is largely attributed to the expanded product line, increased distribution through major retailers, and the marketing strategies developed in partnership with Daymond John.
As Flated’s reach and product range continues to grow, the company’s success story reflects its adaptability and innovative approach to inflatable storage solutions.
The new season of Shark Tank is currently streaming on ABC.
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