Hibear Co. Flask Shark Tank Episode Update & Net Worth

Hibear Co. Flask Shark Tank Episode Update & Net Worth

Hibear Co., known for its innovative All-Day Adventure Flask, appeared on Shark Tank in Season 15, Episode 19. The product is designed for outdoor enthusiasts, offering multiple functions for various beverages.

In his pitch, entrepreneur Mark Tsigounis, a U.S. Navy veteran, sought $150,000 for 5% equity, valuing the company at $3 million. He presented the All-Day Adventure Flask, which boasts features such as:

• Multi-functionality: The flask can brew coffee, infuse beverages, and serve as a cocktail shaker, cold brew maker, and more.
• Material: Made from 18/8 medical-grade stainless steel, ensuring durability and insulation.
• Unique Design: Includes a thermal core that can be frozen to keep drinks cold without dilution.

During the pitch, the Sharks raised concerns about the product’s profit margins and market competition. The offers made during the pitch included:

• All Sharks ultimately declined to invest, citing issues such as a $200,000 debt and concerns over the product being too niche in a crowded market.

After their appearance on Shark Tank, Hibear Co. experienced a notable increase in sales and brand recognition. The company has maintained an active online presence, gaining traction on social media platforms and receiving positive reviews for its innovative design. The product has also won awards, including the Red Dot Design Award and the iF Design Award.

The estimated worth of Hibear Co. is around $640,000 to $1 million, based on its reported sales of $300,000+ in the previous year and projected growth towards $1 million in sales for the current year.

Hibear Co. is still in business and actively selling its All-Day Adventure Flask and other related products. The company continues to innovate and expand its offerings, focusing on sustainability and versatility for outdoor enthusiasts.

What is Hibear Co. Flask? How does it work?

The Hibear Co. Flask is an all-in-one beverage container designed to cater to the needs of adventurers and outdoor enthusiasts. This flask goes beyond being a simple water bottle, offering a range of functions including a cold brew coffee maker, cocktail shaker, wine decanter, and infused tea maker.

It even features a built-in insert that keeps drinks cold and doubles as a muddler for mixing ingredients like limes or mint.

The Hibear Flask also has a removable sleeve that can be used as a cup, making it perfect for sharing drinks or serving as a makeshift mug while on the go.

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The Hibear Co. Flask was pitched by Mark Tsigounis on Shark Tank Season 15. Known as the All Day Adventure Flask, this innovative product offers a versatile solution for outdoor enthusiasts, combining multiple drink-making functions into one sleek design.

After showcasing the flask’s impressive capabilities, Mark left the tank without a deal. Since the episode aired, Hibear Co. has continued to thrive, enjoying a boost in sales and maintaining its presence in the market.

As of 2024, Hibear Co. is projected to reach $1 million in annual sales.

Hibear Co. Flask Shark Tank Full Episode + What Happened at Shark Tank Pitch?

In his Shark Tank pitch, Mark Tsigounis introduced the Hibear Co. All Day Adventure Flask, a multi-functional beverage container designed for outdoor adventures. Mark asked for $150,000 for 5% equity, valuing his company at $3 million.

 The flask, which retails for $95 with a production cost of $15.50, had already generated $745,000 in sales by the time of the pitch. The company also had a strong presence in the corporate gift market, which accounted for 40% of its business.

Despite the impressive margins and the product’s versatility, the sharks were hesitant. Kevin O’Leary advised focusing on direct-to-consumer sales rather than retail, while Mark Cuban felt that the product would be difficult to scale.

Emma Grede and Robert Herjavec also expressed concerns about the product’s niche market appeal. In the end, Lori Greiner—who had previously invested in the LARQ self-cleaning water bottle—decided not to invest, and Mark left the tank without a deal.

What Happened to Hibear Co. Flask After Shark Tank?

Following their appearance on Shark Tank, Hibear Co. saw a significant boost in sales, thanks to the exposure from the show. The company continued to operate successfully, focusing on direct-to-consumer sales and expanding its product offerings.

Mark Tsigounis also leveraged the brand’s visibility to secure additional retail partnerships and launched bundle deals on the Hibear Co. website.

Despite the lack of a deal from the sharks, Hibear Co. has maintained its momentum and is on track to reach $1 million in annual sales.

How Much Is Hibear Co. Flask Worth?

As of 2024, Hibear Co. is valued at approximately $1.5 million. This valuation reflects the company’s strong sales performance, particularly in the direct-to-consumer market, and its ability to maintain profitability despite the competitive landscape.

The continued interest in the All Day Adventure Flask and its multi-functional design have positioned Hibear Co. as a unique player in the outdoor products market.

Is Hibear Co. Flask Still in Business?

Yes, Hibear Co. is still in business and continues to offer its All Day Adventure Flask to a growing customer base. The company remains committed to innovation, providing high-quality, versatile products for outdoor enthusiasts.

Hibear Co. products are available on their official website, Amazon, and select retailers, ensuring that customers can easily access their unique flasks. The company’s ability to adapt and expand its offerings suggests a bright future ahead.

Which Episode Number was Hibear Co. Flask on Shark Tank?

Hibear Co. Flask was featured in Episode 19 of Shark Tank Season 15. During this episode, Mark Tsigounis presented his innovative flask to the sharks, hoping to secure an investment that would help scale his business and expand into new markets.