StormBag Update | Shark Tank Season 15
StormBag founders appeared in Shark Tank 15, seeking $200,000 in exchange for 10% equity in the company.
Stormbag is an efficient and reusable alternative to traditional sandbags that need no sand and take almost no labor to deploy during emergencies like floods.
The Sharks were impressed by the innovative ideas. Daymond Jhon and Daniel Lubetzky offered $200,000 for a 40% stake in the company, but Mark Cuban and Lori Greiner offered a better counter.
The founders accepted Lori and Mark’s offer on the camera. But was this deal actually finalized off the camera?
We followed up with entrepreneurs and returned with a fresh Stormbag update after the show! Find out where Stormbag is now and what its net worth is.
If you’re short on time, here’s a brief overview of what happened to Stormbag after Shark Tank!
Maurice and Miles Huffman happily accepted Lori and Mark’s offer on the Shark Tank. However, Stormbag’s website received millions of visitors when the episode aired, and all the products sold out within a week.
Furthermore, the founders decided to withdraw from the deal and grow the business independently. So, the agreement between Stormbag founders and Sharks (Lori and Mark) wasn’t completed off the camera.
| Company Name | Stormbag |
|---|---|
| Founders | Maurice Huffman, Miles Huffman |
| Founded | 2023 |
| Product | Sandbag alternative |
| Ask | $200,000 for 10% equity |
| Deal | $200,000 for 30% equity |
| Sharks | Lori Greiner, Mark Cuban |
About the Company
Maurice Huffman and his son Miles Huffman invented Stormbag to protect houses from floods.
They’re from the Californian town of Paradise, which had been entirely burned down and lost everything.
While recovering from that loss, Miles gave up his profession as a graphic designer to start a new business with his father.
Forming barriers with traditional sandbags requires a lot of effort, and it might be insufficient in outrageous weather conditions. That’s why they invented a reusable sandbag to collect the approaching water and keep individuals’ homes or garages from flooding.
Maurice used his knowledge of owning a military surplus store to create a Stormbag that could be used to prevent flood water from entering houses.
Stombags can also be used for household applications like soaking spills and to seal unwanted openings. You can also put it around plants for hydration.
Stormbag is lightweight and can be used by anyone regardless of physical abilities. You can build a protection wall without requiring any shoveling and sand.
When the Stormbag is dry, it only weighs 1 pound, but when hydrated, it can swell to weigh a whopping 30-35 pounds. In 3-5 minutes, these bags can absorb almost four gallons of water!
Stormbags are non-toxic, eco-friendly, and can be reused three times. Stombags are accessible for garage, single, double, and double wide doors. Each bag measures 23″x13″ in size and costs less than $10.
Additionally, the company offers StormTec Door Protection Kits, including poly sheets, a box cutter, and duct tape. A double-wide garage door kit is worth up to $219.99, and a garage door kit with 15 bags costs up to $54.99.
Stormbag is manufactured in the United States and is available to purchase on its official website and on Amazon.
StormBags Shark Tank Pitch Recap
Entrepreneurs Maurice and Miles Huffman pitched their company Stormbag and demanded $200,000 for a 10% stake at a $2 million valuation.
The father and son started the pitch by demonstrating their product. They highlighted the features of Stormbag and displayed how it can be effective during floods.
Guest shark Daniel Lubetzky asked about the founder’s backstory and how the duo worked together.
Miles shared how they overcame a disaster, and later, he decided to join his father’s business.
Kevin O’Leary asked, “You’re making any money?”
In the year before filming, they had $90,000 in sales. The manufacturing cost of each Stormbag is $2, and it sells for $5.50. The founders intend to reduce the cost to $1.75.
Lori Greiner asked, “How does that compare to a sandbag?”
They replied that traditional sandbags are usually free, but you must schlep and shovel them around.
Kevin isn’t interested in competing against free, and so he’s out.
One Shark was out, and four Sharks had yet to offer a deal.
Along with Daymond John, Daniel offered $200,000 for 40% equity, and in return, the father and son would get the expertise of two Sharks.
Lori also teamed up with Mark Cuban and offered $200,000 for 30% equity.
Mark and Lori wanted to assist in repackaging the products for various purposes like commercial and personal use, watering plants and gardens, etc.
At this point, Daymond and Daniel matched Mark and Lori’s offer for 30% equity.
After briefly discussing, Maurice and Miles decided to close the deal with Mark and Lori.
Finally, Stormbag managed to grab a great deal from two Sharks, and the duo happily left the tank.
Company Update
StormBag managed to secure a deal in Shark Tank. They got an investment of $200,000 for 30% equity. Apart from raising funds, their brand got free advertisement among show lovers.
When the show was aired, their website was flooded with traffic, and all their inventory was sold out within a week. The brand was featured in various news portals and blogs.
Our team followed StormBag founders to find out whether this deal actually happened off the camera. We got to know that Huffman decided to “stay out of this deal and grow the company independently.”
We think he made the right decision because giving away too much equity isn’t a good business practice.
As of March 2024, StormBag is still in business, and its revenue has grown to over $1.5 million.
As per their website, Stormbag products are approved and acknowledged by the Department of Homeland Security, FEMA, Salt Lake City Bomb Squad, and the National Guard.
This must go a long way in providing clients the assurance to rely on Stormbags by replacing traditional sandbags while they prepare for natural calamities.
You can find out more company updates appeared in Shark Tank S15E02:
Conclusion
Stormbag is a convenient, biodegradable, and cost-efficient product that can be used during emergencies like floods, storms, etc. Mark and Lori saw a business opportunity, and both invested in this brand.
