Storage Scholars Shark Tank Episode 4 Update & Net Worth
Storage Scholars Shark Tank Episode 14 Update & Net Worth In Season 14, Episode 4, Sam Chason and Matt Gronberg pitched Storage Scholars, a moving and storage company designed specifically for college students, on Shark Tank. They sought $250,000 for 5% equity in their business, which helps students pack, store, and move their belongings at…
Storage Scholars Shark Tank Episode 14 Update & Net Worth
In Season 14, Episode 4, Sam Chason and Matt Gronberg pitched Storage Scholars, a moving and storage company designed specifically for college students, on Shark Tank. They sought $250,000 for 5% equity in their business, which helps students pack, store, and move their belongings at the end of the semester.
The company generated over $1.86 million in revenue by 2022. After several offers from the sharks, they made a deal with Mark Cuban, securing $250,000 for 10% equity.
What is Storage Scholars? How Does it Work?
Storage Scholars is a unique moving and storage service tailored to college students. It solves the common problem students face when they need to pack and store their belongings at the end of the semester.
Here’s how it works:
- Students sign up on the Storage Scholars website and select the items they need stored.
- They receive packing boxes and instructions to prepare their belongings.
- Once packed, the Storage Scholars team picks up the items and stores them in a secure facility.
- Students can schedule the return of their belongings when they return to campus.
Pricing starts at $17 per month per box, with a minimum of four months. Additional services include shipping and furniture storage. The company partners with universities across the United States, allowing seamless storage and retrieval.
Storage Scholars Shark Tank Episode 14 Season 14: What Happened at Shark Tank Pitch?
In Shark Tank Season 14, Episode 4, Sam Chason and Matt Gronberg pitched their company, Storage Scholars, to the sharks, asking for $250,000 for 5% equity. They explained how their business operates across more than 20 college campuses, helping students store and move their belongings during breaks.
The sharks were impressed when the founders shared that the company had generated over $1.86 million in revenue in 2022, with costs for a single move around $200 and service charges averaging $559. However, Kevin O’Leary and Daymond John made identical offers of $250,000 for 20% equity, which the founders found too high.
Mark Cuban eventually offered $250,000 for 12% equity, but after some negotiation, Sam and Matt secured a deal for $250,000 for 10% equity.
Storage Scholars Shark Tank Pitch Summary
| Company Name | Storage Scholars |
| Founder | Sam Chason and Matt Gronberg |
| Product | Moving and storage services for students |
| Amount Asked For | $250,000 for 5% equity |
| Final Deal | $250,000 for 10% equity |
| Investor | Mark Cuban |
| Season & Episode | Season 14, Episode 4 |
| Lifetime Sales | $1.86 million estimated |
| Business Status | In Business |
| Current Net Worth | $3 million estimated |
What Happened To Storage Scholars After Shark Tank?
After securing a deal with Mark Cuban, Storage Scholars continued to grow its business, expanding its services to more college campuses across the United States. By 2023, the company had partnered with 46 universities and increased its presence to 73 campuses by August 2023.
In February 2023, Storage Scholars formed a partnership with SIRVA, a global leader in relocation and moving services. This collaboration helped the company increase its brand visibility and scale its operations.
As of April 2024, Storage Scholars has served thousands of students and continues to provide hassle-free moving and storage solutions, aiming for international expansion.
How Much Is Storage Scholars Worth?
As of 2024, Storage Scholars is estimated to have a net worth of $3 million. The company’s focus on providing moving and storage services exclusively for college students has allowed it to carve out a niche in the relocation and storage market. The company’s annual revenue in 2022 reached $1.86 million, and the business is expected to surpass $2 million in revenue by the end of 2023.
Is Storage Scholars Still In Business?
Yes, Storage Scholars is still in business as of April 2024. The company has expanded its services to 73 college campuses across the United States and continues to grow. With a partnership with SIRVA and the guidance of Mark Cuban, the business is on track for international expansion and is poised to increase its revenue significantly in the coming years.
Which Episode Number Was Storage Scholars on Shark Tank?
Storage Scholars appeared on Season 14, Episode 4 of Shark Tank, which aired on October 14, 2022. The company secured a deal with Mark Cuban for $250,000 in exchange for 10% equity.
