In a world where people’s lives are muddled with medical needs, it isn’t surprising that there is an elevated need for good-quality Dopp kits. With the lacking availability of good products in the market, Braxton Fleming knew that he had to venture into this and offer comprehensive solutions.
Enter Stealth Bros and Co. The company focuses on producing and selling luxurious Dopp kits that are designed to help individuals carry around their medical injectables and sharp-edged waste properly and without any hassle.
The company appeared on Season 14 of Shark Tank, where Braxton was intending to raise $200,000 for the company in exchange for 15% equity. If you have been curious to know more about Stealth Bros and Co. and how their company is doing post-Shark Tank craze, you have come to the right place.
Shark Tank Stealth Bros and Co. Update
- Entrepreneur – Braxton Fleming
- Business – Luxury Dopp kits
- Ask – $200,000 for 15% equity
- Result – $200,000 for 20% equity
- Sharks – Barbara Corcoran and Mark Cuban
When Braxton took his company on Shark Tank with hopes to raise some investments and gain some support from the experienced sharks, he was faced with criticism initially. The main issue was that a few of the sharks had been regarding them as their competition.
There were similar kinds of products and companies already doing pretty great business. To this, Braxton believed that the luxury aspect of his brand was what set it apart. He conveyed the same message to the Sharks as well during the pitch.
While a few sharks showed their interest in the product, three out of the five sharks immediately stepped down from making a deal. They were Kevin O’Leary, Lori Greiner, and Robert Herjavec. This left Barbara and Mark on the line.
It was Barbara who placed the first counteroffer, wherein she was willing to pay the ask of $200,000 but for 20% equity. Additionally, 50% of the amount of the deal would be given as a line of credit. Listening to the offer, Mark Cuban seemed interested and wanted to join hands with Barbara on the deal if she agreed to it.
Braxton went back and forth with the two sharks on the deal, trying to negotiate their terms but they finally agreed to onboard two of the sharks – Barbara and Mark for $200,000 for 20% equity. It was quite a victorious moment for Braxton and the team.
So, how is Stealth Bros and Co. doing after their Shark Tank episode?
According to the official reports, the deal with Barbara and Mark was finalized, meaning that Braxton and the company got the initial investment they needed to bolster their growth. The company is still operational and doing pretty great for itself.
Their products are currently available on their official website and even keep up with the website to ensure that you can browse through the list of available products without any hassle. Unfortunately, we don’t have much idea about their sales and annual revenue since they haven’t released a report surrounding the same.
