When you think of Shark Tank, creativity is something that almost every fan prioritizes. Shark Tank is a platform for those unique companies whose ideas are one of a kind and deserve a special push in the right direction.
HummViewer is one that left the Sharks with a lot of questions. Developed by John and Joan, the company manufactures and sells wearable hummingbird feeders. Now, that sounds like a lot, doesn’t it? Seems like it didn’t because the company left the show with a deal.
If you are curious to know how and where HummViewer currently is after their Shark Tank episode, we will explore it all.
Shark Tank Humm Viewer Update
- Entrepreneurs – John and Joan Creed
- Business – Wearable hummingbird feeder
- Ask – $75,000 for 10% equity
- Results – $75,000 for 35% equity
- Sharks – Daniel Lubetzky
With how offbeat and unexpected the product was, it wasn’t surprising that the audience was expecting all the Sharks to drop out without making any potential offer. However, it looks like a few Sharks had something else on their mind.
When breaking down the cost of the HummViewer, John opened up and said that the manufacturing cost is around $10 while they sell the product for $59.95, which the sharks thought was quite a steep price.Â
That said, Kevin O’Leary, Mark Cuban, and Daymond John didn’t want to do anything with the product and said that they didn’t believe in the future of the company and the practicality of the product at all.
During the pitch, John said that he has successfully sold 500+ units and the main intent for coming on the show is to get further funding so he could work on improving the design and functionality of the product. None of the Sharks seem to be impressed with it.
With the first three sharks stepping down without making an offer, it left Lori and Daniel Lubetzy in the panel. Lori said that she didn’t see potential in the product in the future, for which she decided to back out before making an offer.
Daniel Lubetzky seemed to be quite intrigued by the product. He offered a counteroffer of $75,000 for 35% of the company. Since John and Joan didn’t have any other offer on the table for them, they decided to accept it, even though it asked for 3x of their asking equity percentage.
So, how is HummViewer doing after their Shark Tank appearance? Well, it looks like the episode brought the company a lot of fame. They saw a massive boost to their sales initially after the episode aired, leaving them with a boost to their revenue as well.
Collaborating with Daniel has helped the brand further diversify its outreach and bring more customers. They are currently operational and are focused on improving the design of their product to make it more marketable. Their product is available via their official website only.
The kind of annual or total valuation of the company isn’t known since HummViewer hasn’t shared any public reports about it yet.
