Flipoutz: What Happened After Shark Tank?

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Flipoutz is a brand of interchangeable wristbands that gained national attention after appearing on ABC's Shark Tank.

The product was designed to allow children to customize their bracelets by swapping out colorful coins with different designs and inspirational phrases and quotes.

Flipoutz is a unique and inspiring story of three kids who turned their creative idea into a successful business venture. The product is a bracelet that allows kids to collect and trade coins called "Zings" that fit into the bracelet's center.

Flipoutz debuted on the hit television show Shark Tank in 2011, where the young entrepreneurs secured an investment from Robert Herjavec. Since then, the company has experienced significant growth and success.

In this blog post, we'll take a closer look at what happened to Flipoutz after its appearance on Shark Tank and explore the challenges and opportunities the brand faced.

About Flipoutz

Flipoutz are interchangeable metal coins with unique designs created by three young entrepreneurs, Jake, Lachlan, and Erin Johnson, who appeared on Shark Tank in 2011. 

Flipoutz What Happened After Shark Tank

The idea behind Flipoutz was to provide a fun and engaging way for kids to express themselves and trade with their friends.

Each coin had a unique design and message, and the idea was to collect and trade them with others to create a personalized bracelet or necklace. 

Flipoutz can be worn as a necklace or played with as a toy. The three siblings, ages 13, 16, and 18, were driving home from school when they came up with the concept of a new toy. 

While their parents drove the kids back from the beach, they were encouraged to brainstorm ideas. This silicone rubber bracelet comprises five coins printed with eye-catching artwork and inspirational messages.

Children can trade virtual currency and see how much they have earned with Flipoutz. They presented their patent-pending coin monitoring and trading system to the sharks in Season 2, Episode 206.

First, Emily Johnson introduced her husband and children before beginning the Shark Tank debate. The Sharks were then shown the Flipoutz product's origins.

The idea formed when Emily Johnson challenged the kids to discover a suitable toy or activity instead of squabbling in the vehicle during a long car ride.

After much brainstorming and planning, the siblings came up with Flipoutz. What they thought to be a simple idea during a road trip turned out to be something that could change their lives.

Sharks learned that her Flipoutz bracelets had customized coins that could be traded, collected, and monitored online through Flipoutz's website. After discussing how she created these coins' designs, Erin handed them bracelets as a thank-you gift. 

Coins engraved with creative artwork or inspiring slogans could be found by those who wear them, allowing them to display their individuality.

Flipoutz on Shark Tank

Flipoutz is a unique and customizable bracelet created by three siblings, Jake, Lachlan, and Erin Johnson.

It features metal coins that can be inserted into the bracelet's slots and easily swapped to create a different look.

The product was an instant hit among kids and teens, and it caught the attention of the investors on the popular TV show Shark Tank.

The Pitch

During their appearance on the show in 2011, the Johnson siblings sought $100,000 for a 20% stake in their business. They pitched the product to the panel of investors and explained the concept behind the bracelets. 

The Pitch

The Sharks were impressed by the product's potential and were interested in investing in the company. However, they were also concerned about the competition in the market and the product's scalability.

While some sharks were impressed with the product, negotiations became problematic when the founders were unwilling to give up more than a 20% stake.

Robert Herjavec eventually offered $100,000 for 33% of the company, which was met with some hesitation from the founders

However, after some further discussion, the deal was ultimately accepted. It was a close call, as the founders were unwilling to budge on their equity and almost lost the opportunity for a deal.

The deal was a success, and Flipoutz gained a lot of exposure from the show. However, the company faced many challenges after its appearance on Shark Tank. Despite the initial success, the product failed to gain mainstream attention, and sales declined.

After closing the deal

Despite their best efforts, the Johnson siblings needed help to keep the business afloat.

In 2013, Flipoutz announced it would be closing its doors and discontinuing the product. While the Johnson siblings' journey with Flipoutz may have ended, their entrepreneurial spirit and creativity have undoubtedly impacted the industry.

Flipoutz after Shark Tank

After their appearance on Shark Tank, the three Johnson siblings continued to work hard to expand their product. They sold Flipoutz in specialty toy stores nationwide and developed new wristband designs and features.

Flipoutz after Shark Tank

Flipoutz was an instant hit, and the company quickly expanded its product line to include new coin designs and accessories. 

The company also held events and contests to encourage collectors to trade their coins with others, creating a community around the product.

  • Flipoutz quickly gained national recognition, appearing on TV shows like The Today Show, The Ellen Show, and Good Morning America. The company also won several awards, including the Best Toy Award from the National Parenting Center and the Seal of Approval from the Parents' Choice Foundation.
  • By 2013, Flipoutz had become a multi-million dollar business, and it seemed like the sky was the limit for the Johnson siblings and their innovative product. However, as with many startups, there were challenges and setbacks that the company had to face.
  • Flipoutz was sold to Wild Craze, a company that develops and distributes innovative toys and games. The acquisition gave Flipoutz access to new resources and distribution channels, allowing the product to reach a wider audience.
  • Under Wild Craze's ownership, the Flipoutz product line was expanded to include new designs and concepts, such as sports-themed bands and customizable dog tags. The company also created a website and social media presence to engage with its customers and promote its products.

However, despite the initial boost from the acquisition, Flipoutz ultimately faced financial difficulties. In 2015, Wild Craze filed for bankruptcy, and the future of the product was uncertain.

Despite the setbacks, the Johnson siblings continued to pursue their entrepreneurial endeavors. In 2016, they founded their own digital marketing company, JLE Digital, specializing in social media and influencer marketing.

While Flipoutz may have yet to achieve the success the siblings had hoped for, their experience on Shark Tank and their subsequent entrepreneurial ventures demonstrate their resilience and determination to succeed in the business world.

Not only that, but by being on Shark Tank at such a young age, the Johnson siblings also proved to many adults that the youth could do things that adults can and possess abilities that may even surpass those with more experience. 

Wrapping up

Flipoutz was a unique and innovative product created by three young siblings that gained popularity after appearing on Shark Tank. 

Despite facing challenges in the market, including production issues and competition, the company continued to strive for success.

Despite being short-lived, Flipoutz gave joy to thousands of children. The product's legacy symbolizes creativity and entrepreneurship, inspiring others to follow the Johnson siblings’ and turn their dreams and ideas into reality. 

In addition, with the founders' young ages and the fact that they are one of the first kids to appear on the show, they also inspired other young entrepreneurs to follow in their footsteps.

FAQs

Are Flipoutz still available for purchase?

While the original company that appeared on Shark Tank is no longer in operation, Flipoutz can still be found on various online marketplaces like Amazon and eBay.

Was Flipoutz ever acquired by another company?

Yes, in 2013, Flipoutz was acquired by Wild Craze, a toy and game company based in Pennsylvania.

Was Flipoutz ever acquired by another company

Are there any new Flipoutz products or variations available?

As of now, there haven't been any new Flipoutz products or variations released by Wild Craze. However, they do still sell the original Flipoutz products on their website and on Amazon.

How did Flipoutz impact the toy industry?

While Flipoutz didn't necessarily revolutionize the toy industry, it did offer a unique and customizable toy experience for children. Its appearance on Shark Tank helped to raise awareness and interest in the product.

How much did Flipoutz make in sales after appearing on Shark Tank?

Unfortunately, the exact sales figures for Flipoutz after appearing on Shark Tank are not publicly available. However, it is known that the company did experience a significant increase in sales and popularity following its appearance on the show.

What lessons can be learned from Flipoutz's experience on Shark Tank?

One lesson is the importance of having a solid business plan and a clear understanding of the company's financials.

It's also important to be prepared for any potential setbacks or challenges that may arise, especially after appearing on a high-profile show like Shark Tank.

Where are the Johnson siblings now?

The Johnson siblings continued to pursue their entrepreneurial endeavors. In 2016, they founded their own digital marketing company, JLE Digital, which specializes in social media and influencer marketing. 

Aside from that, they have also moved on to other ventures and pursuits. Jake has pursued a career in software engineering, Lachlan has become a successful YouTube personality, and Erin has pursued a career in business and marketing.

About the author 

Peter Keszegh

Most people write this part in the third person but I won't. You're at the right place if you want to start or grow your online business. When I'm not busy scaling up my own or other people' businesses, you'll find me trying out new things and discovering new places. Connect with me on Facebook, just let me know how I can help.

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