Zip String Shark Tank Episode 9 Update & Net Worth
Zip String Shark Tank Episode 9 Update & Net Worth Zip String is a fascinating toy that lets users control a string as it flies through the air at speeds of up to 35 miles per hour. Inventors Austin Hillam and Stephen Fazio brought their innovative toy to Shark Tank Season 14, Episode 9, seeking…
Zip String Shark Tank Episode 9 Update & Net Worth
Zip String is a fascinating toy that lets users control a string as it flies through the air at speeds of up to 35 miles per hour. Inventors Austin Hillam and Stephen Fazio brought their innovative toy to Shark Tank Season 14, Episode 9, seeking an investment of $100,000 for 10% equity.
After an intense negotiation, they struck a deal with Robert Herjavec and Kevin O’Leary for $100,000 in exchange for 20% equity. Since then, Zip String has experienced significant growth, with a current estimated net worth of $500,000.
What is Zip String? How Does it Work?
Zip String is a rechargeable electronic toy that makes strings fly through the air, allowing users to perform a variety of tricks. The device uses a combination of motors and battery power to create a continuous loop of string that moves swiftly and safely, making it fun for both children and adults.
The string can reach speeds of 35 miles per hour and is safe to touch, offering endless possibilities for tricks like Freestyle, Step Through, Zip Flip, and Zip Sync.
Available in five vibrant colors—Aqua, Lime, Red, Blue, and Violet—each Zip String comes with three different-sized string loops. The product is priced at $27.99 and can be purchased on the company’s official website. This innovative toy offers a new way for users to engage in creative play, making it an excellent gift for kids and adults alike.
Zip String Shark Tank Episode 9 Season 14: What Happened at Shark Tank Pitch?
When Austin Hillam and Stephen Fazio entered the Shark Tank, they asked for $100,000 in exchange for 10% equity in their company. They demonstrated the Zip String toy to the sharks, showcasing its ability to create mesmerizing tricks and movements with the string. The sharks were immediately intrigued by the product’s uniqueness and the fun it provided.
Despite going viral with tens of millions of views online, the company had only managed to sell 10,000 units at an average price of $25 per unit. The founders explained that manufacturing issues had hindered their ability to capitalize on the viral success, but they assured the sharks that these problems had been resolved.
Robert Herjavec made the first offer of $100,000 for 20% equity, which was followed by Kevin O’Leary offering $100,000 for 15% equity. After some back-and-forth, Robert and Kevin decided to team up and offered $100,000 for 20% equity combined, which Austin and Stephen quickly accepted.
Zip String Shark Tank Pitch Summary
| Company Name | Zip String |
| Founder | Austin Hillam and Stephen Fazio |
| Product | Toy that makes strings fly in the air |
| Amount Asked For | $100,000 for 10% equity |
| Final Deal | $100,000 for 20% equity |
| Investor | Robert Herjavec and Kevin O’Leary |
| Season & Episode | Season 14, Episode 9 (Shark Tank USA) |
| Lifetime Sales | $400K+ estimated |
| Business Status | In Business |
| Current Net Worth | $500K estimated |
What Happened To Zip String After Shark Tank?
Following their Shark Tank appearance, Zip String experienced a significant boost in sales and visibility. The episode aired just before the 2022 holiday season, which led to a surge in orders. Within two days, the Zip String products were completely sold out and moved to pre-order status due to the overwhelming demand.
The company also gained more media attention, and Austin and Stephen made additional appearances, including a feature on Dude Perfect. The increased visibility helped them expand their market reach, and they started shipping products to over 50 countries worldwide.
Despite early supply chain challenges, Zip String has grown steadily and continues to captivate customers with its unique product offering. The partnership with Kevin O’Leary and Robert Herjavec has been instrumental in helping the company scale and meet the growing demand for their product.
How Much Is Zip String Worth?
As of April 2024, the estimated net worth of Zip String is $500,000. The company’s valuation was initially set at $1 million during their Shark Tank appearance, but after securing the deal, the valuation adjusted to reflect the equity deal with Robert Herjavec and Kevin O’Leary.
The continued success and expansion of the company suggest that Zip String has significant growth potential, especially as it reaches new markets and continues to innovate within the toy industry.
Is Zip String Still in Business?
Yes, Zip String is still in business as of April 2024. The company operates out of Johns Creek, Georgia, and continues to sell its products globally. The founders have successfully navigated the challenges of scaling their business and have maintained a strong presence in the market, with ongoing support from their Shark Tank investors.
Which Episode Number was Zip String Shark Tank?
Zip String was featured on Shark Tank Season 14, Episode 9, which aired on December 9, 2022. The episode highlighted the product’s innovative design and the founders’ journey, ultimately leading to a successful deal with Robert Herjavec and Kevin O’Leary.
