Your gadgets need the same care as other important things in your life. To provide the best protection for your gadgets, Phoozy came up with device protection cases on Shark Tank.
Their pitch was quite impressive and the business potential impressed the Sharks. Entrepreneurs Kevin Conway and Josh Inglis’s Phoozy designs protective cases for tech gadgets made from NASA space suit materials.
If you are excited to know what happened to Phoozy after Shark Tank and their current business status, then we’ve got you covered with everything in this blog.
Phoozy Shark Tank Pitch
Kevin Conway and Josh Inglis appeared in Season 12, Episode 19 of Shark Tank with their business, Phoozy. The products were specifically designed to provide ultimate protection to the tech gadgets inspired by NASA technology. The protection cases for smartphones were built to survive harsh weather conditions, water, and extreme temperatures.
The bonus point was Kevina and Josh held past experience in NASCAR and outdoor venture. This added credibility to their brand performance and product’s durability.
Phoozy Shark Tank Pitch was quite impressive and all the Sharks were pretty amazed to hear the sales figures secured in just 36 months which is $2 million.
Kevin and Josh asked a $500,000 for 10% equity in Phoozy. Looking at the business potential, its sales, and future growth, Kevin O’Leary, Robert Herjavec, and Lori Greiner looked quite interested in the deal.
Phoozy Shark Tank Deal
Phoozy with its amazing business idea and impressive sales, was able to secure a deal with Lori Greiner and Robert Herjavec at $500,000 each for 4% equity in the company, along with $1.50 royalty per unit until their investment was recouped.
Kevin and Josh accepted the offer and carried their business forward with the mentorship and resources offered by the Sharks. Phoozy saw a drastic growth after Shark Tank.
What Happened To Phoozy After Shark Tank?
The journey of Phoozy from appearing at Shark Tank, securing a great deal, and afterward was incredible. Soon after appearing in Shark Tank, Phoozy experienced a remarkable boost in its sales.
Phoozy Shark Tank Updates show that the company saw a 400% increase in sales soon after appearing on the show. In an interview with Entrepreneur in 2021, Conway mentioned that they received so many orders that the team was working tirelessly to meet the growing demand. There was hardly any time to celebrate or take a break.
This shows that Phoozy got great recognition after Shark Tank leading to growth in their business and popularity of their products.
You can shop for Phoozy’s products from various online platforms like their website, Amazon, and other distribution channels as well. With time, Phoozy has come up with an innovative product range, designed to protect not only your smartphones but also laptops, tablets, and other electronic gadgets.
Phoozy Net Worth
Phoozy attained a notable milestone of $1.3 million in net worth in 2021 reported as per Trend Net Worth. This was accomplished with constant innovation, and tailoring of their products that gained them a loyal customer base.
As of 2024, Phoozy’s estimated net worth is around $2.5 million. This figure reflects the strong presence of the company on various online platforms and social media following its successful appearance on Shark Tank.
You can also check out Potty Safe Shark Tank Update 2024 – Their Journey So Far
Conclusion
At last, it could be said that with a clear goal, and vision to create something outstanding, everything is possible. Phoozy not only proved that constant hard work and dedication paid off, but they adapted as per the need of the hour which resulted in growth and a loyal customer base for the company.
The deal and partnership with Lori Greiner and Robert Herjavec also helped Phoozy touch new milestones with proper planning and management making Phoozy a significant player in the world of device protection.
