What Happened To Flated Car And Truck Storage From Shark Tank Season 14?
Coming up with new and innovated products is usually a path to success, though it certainly isn't guaranteed. This is because even the best ideas and products sometimes have trouble getting off of the ground, but luckily the popular reality television show "Shark Tank" is there to hear pitches from would-be business partners as they look for outside investment. In Episode 16 of Season 14, "Shark Tank" features a company called Flated, which creates inflatable car and truck storage accessories.
Whereas most trucks and cars usually either come with a rigid container for storage or a hard case, Flated offers a plethora of seals and containers that are easy to store and utilize due to the fact that Flated's products are just that — inflated. Inflated objects usually address both size and storage constraints, which is probably best highlight by an inflatable World War II plane. When the founders of Flated appeared on "Shark Tank," who consisted of Monique Keefer, Ryan Guay, and Ken Hoeve, they hoped to see if any of the "Shark Tank" investors were interested in their company, wanting to obtain $350,000 for 5% of Flated. The investors were immediately taken by Flated's unique product, though many of them weren't exactly keen on the buy-in. During its appearance on "Shark Tank," the owners of Flated, minus the fourth founding member of Dan Watts, noted that the company had already generated sales worth $277,000 in the Summer of 2022, and it was projected that Flated would create an additional $600,000 in sales the following year.
What happened to Flated on Shark Tank?
Flated showed off many of their different products, and how several of them could be stored in backpacks, which certainly addresses one of the biggest issues when it comes to automotive storage accessories. During their presentation, the founders of "Flated" mentioned how they all worked for a paddle-board company in 2009 that focused mainly on inflatable iterations.
Although many of their contemporaries scoffed at the idea of an inflatable paddle-board, the Flated founders added that 90% of the paddle-board market is now inflatable. Attempting to capitalize on this trend, Flated fully embraced air-filled accessories. It was also brought up that Flated's truck-bed Air-Topper was their biggest seller, accounting for 80% of the company's sales. As a point of reference, rigid fiberglass truck toppers often retail for upwards of $3,500, while Flated's version range from $1000 to $2000, depending on the model. While many of the investors of "Shark Tank" enjoyed Flated's presentation, many of them bowed out for different reasons — Lori Greiner didn't think Flated was worth as much as they claimed, while Kevin O'Leary also felt like there was a disconnect when it came to Flated's valuation. Mark Cuban also bowed out, but Daymond John offered $350,000 for 8% of the sales, and once he recuperated his investment, 5% in perpetuity.
This caused Flated's founders to counter-offer 7% of the sales, and then 4% after John made his money back, though this caused John to withdraw his offer. However, Flated's creators then discussed among themselves their options, and eventually relented and accepted John's proposal.
What happened to Flated after Shark Tank?
In the immediate aftermath of the March 2023 episode of "Shark Tank," Daymond John tweeted about his enthusiasm to work with Flated, and he posted a short video clip explaining what Flated was offering. John also wrote, "Shout out to my newest @ABCSharkTank partner @getflated! True Shark Tank fans also probably noticed the different types of deal structures we negotiated here. If there's one thing I know in business, it's licensing, and I'm looking forward to seeing how the Flated team grows."
As of April 2023, Flated has an estimated valuation and worth of $7 million and currently offers many different types of inflatable accessories and storage options. Flated's flagship product, the Air-Topper, comes in multiple sizes and configurations, but the company also has several other items, like the Air-Chalet, which is made for pets like cats and dogs. Flated also has the Air-Carrier, which is an inflatable storage unit that goes on top of vehicles, and the Air-Deck, which is a flat surface that goes on top of objects that are stored in the bed of a truck.
Is Flated still in business?
Luckily, Flated's appearance on "Shark Tank" seems to have uplifted the company and its products, and several websites and publications have sung high praise for the innovative automobile storage solutions. In other words, it seems as if "Shark Tank" has certainly helped to put Flated in the view of the public, with Gear Patrol saying that Flated's patented Air-Topper was rugged enough for everyday use and that it is exceptionally easy to set up and store.
RV Geeks were also big fans of Flated's Air Topper, noting that many who use the product often consider it the best thing since sliced bread. Over on REI, one user review said of Flated's offerings, "I like simple and innovative products. Especially when I can blow it up, throw it on my Tacoma long bed and secure it using efficient cam straps from the bed tie-downs. The goal is to camp and keep it classy with this lightweight option, which also has a solid roof to carry my boards." They added, "It's probably your next purchase, so make it happen before you drop money on a heavy fiberglass or metal box topper that eats away at your payload."
What's next for Flated?
On Flated's website, founder Ryan Guay explained how happy he was to be working with a "Shark Tank" investor, stating, "We've always been fans of 'Shark Tank,' so when the opportunity came to apply to be on the show, we jumped on it. We're extremely proud of our product and brand vision, and we've spent the last year trying to keep up with demand. We expect huge growth in 2023, with more sizes and new products coming."
These words certainly highlight that Flated has done quite well since its appearance on "Shark Tank," and even though it has just been a short amount of time since its time on the show, it seems as if the company is still going strong. Although Flated's Air-Topper is the best-selling item, it sounds like the company isn't going to rest on its laurels, and will continue to grow and continue to expand its offerings.