Flated’s Post-Shark Tank Valuation: $15 Million After Investment
Have you ever wished your truck or car had more storage space but didn’t want to deal with bulky, permanent add-ons? That’s where Flated comes in.
This innovative company has taken the outdoor gear world by storm with its inflatable automotive accessories. Let’s explore Flated’s story, from its clever beginnings to its current net worth and prospects.
| Category | Details |
|---|---|
| Company Name | Flated |
| Main Products | Inflatable automotive accessories (Air-Topper, roof racks, truck bed platforms, pet kennels) |
| Year Established | 2020 |
| Notable Product | Air-Topper (Inflatable truck topper) |
| Founders | Monique Keefer, Dan Watts, Ryan Guay, Ken Hoeve |
| Current Valuation (Post Shark Tank) | $15 million |
What is Flated?
Flated is a company that makes inflatable automotive accessories. Their main product is the Air-Topper, an inflatable truck topper that quickly adds storage space to your pickup.
But that’s not all—they also make inflatable roof racks, truck bed platforms, and pet kennels. The cool thing about Flated’s products is that they’re super strong when inflated but pack down small when unused.
Who Is The Founder Of Flated?
Just one person didn’t start Flated – it was a team effort! Monique Keefer, Dan Watts, Ryan Guay, and Ken Hoeve are the brains behind the operation. These four friends love the outdoors and saw a problem that needed fixing.
They used to work together at a paddleboard company, where they helped make inflatable boards popular. That experience inspired them to use similar technology for car accessories.
How Was The Shark Tank Pitch For Flated?
In 2023, Flated appeared on the TV show Shark Tank to try to attract an investor. Monique, Ryan, and Ken asked for $350,000 for 5% of their company, which meant they thought Flated was worth $7 million!
The Sharks liked the product but thought that the price was too high. Flated had only made $277,000 in sales so far. Most Sharks said no, but Daymond John made a different offer.
He said he’d give them the $350,000, but instead of owning part of the company, he’d get 8% of each sale until he got his money back. After that, he’d keep getting 5% of sales forever.
| Details | Information |
|---|---|
| Shark Tank Episode Year | 2023 |
| Initial Ask | $350,000 for 5% |
| Initial Valuation (By Founders) | $7 million |
| Revenue at Time of Shark Tank | $277,000 |
| Investor Deal | Daymond John: $350,000 for 8% of sales until paid back, 5% thereafter |
| New Valuation (Post Shark Tank) | $1.3 million (based on Daymond’s deal) |
The Flated team tried to negotiate but ultimately took Daymond’s deal. They knew his experience could help them grow their business.
Flated Shark Tank Update: What Happened After The Show?
After Shark Tank, Flated’s schedule got busy! Lots of people saw them on TV and started checking out their products.
Ken Hoeve told a local paper that orders went crazy after the show aired. About 20 million people saw Flated on Shark Tank or watched it later.
The team made a video to introduce themselves to all their new fans. They also started going to more outdoor and car events to show people how their products work.
This was smart because, as Mark Cuban said on the show, people need to see and touch Flated’s products to get how cool they are.
Flated Growth and Operations:
Flated has been growing steadily since Shark Tank. It now sells its products on its website and REI.com.
You can also find Flatbed Gear in some specialty stores in the U.S.; they even have people selling their stuff in other countries.
The company has faced some challenges. Making inflatable products that are strong enough for cars isn’t easy. They also have to compete with traditional truck accessories that people are used to. But Flated has some significant advantages, too.
Their products are cheaper than many rugged truck toppers and much easier to store when not in use.
Flatbed keeps coming up with new ideas. They’re always working on making their inflatables stronger and easier to use. Who knows what excellent new product they’ll come up with next?
Flated Net Worth and Financial Performance:
It’s hard to know precisely how much Flated is worth now. On Shark Tank, they said the company was worth $7 million. However, Daymond John’s deal valued them at around $1.3 million. The truth is probably somewhere in between.
We do know that Flated’s sales have been going up. They made $277,000 in the first part of 2022 and thought they’d hit $600,000 by the end of the year. With all the attention from Shark Tank, they probably sold even more than that!
Flated Strategy of Marketing and Sales:
Flated has an intelligent way of selling its products. It knows that people need to see its products in action to understand how great they are.
That’s why it goes to lots of outdoor and car shows. It also lets people touch the inflatables and see how strong they are.
They also use social media a lot. Flated has accounts on Facebook, Instagram, and TikTok. They share videos of their products being used in real life, which helps people understand how they work.
Flated Social Media Presence:
Speaking of social media, Flated is doing pretty well there! They’ve gotten over 5 million views on TikTok. On YouTube, they share how-to videos and fun adventure vlogs. This helps people see how Flated’s products can make outdoor trips more accessible and more fated.
Interesting Facts:
Here are some cool things about Flated:
- Their products use the same kind of material as inflatable paddleboards.
- The Air-Topper, their most popular product, costs about $1,800. That’s way less than many rugged truck toppers.
- Flated was started right when the COVID-19 pandemic began in 2020.
- The founders got the idea for Flated from their experience making inflatable paddleboards popular.
- Flated’s products can hold up to 500 pounds when inflated!
What’s Next For Flated?
Flated has big plans for the future. They want to keep growing and making new products. One of the founders, Ryan Guay, said they expect to produce a lot in 2023.
They’re working on increasing the sizes of their current products and developing new ideas.
With Daymond John’s help from Shark Tank, Flated should be able to reach even more customers. They’re excited to show people how inflatable car accessories can make outdoor adventures more accessible and fun.
Final Words:
Flatbed is an excellent example of how a clever idea can become a successful business. They’ve created something unique by using inflatable technology from paddleboards to make car accessories.
While we don’t know precisely what Flated is worth, it’s clear they’re on the rise. From their start in 2020 to their exciting Shark Tank deal in 2023, Flated has come a long way in a short time.
Their inflatable products solve real problems for outdoor enthusiasts. They give people more storage space without the hassle of permanent add-ons.
They’re a company to watch as Flated continues to grow and innovate. Whether you’re a camper, a surfer, or someone who needs extra car space sometimes, Flated’s inflatable accessories might be what you’re looking for.
Who knows? The next time you see a truck with extra storage, it might not be a hard topper – it could be a Flatbed Air-Topper, ready to deflate and pack away when the adventure’s over!
