Flipstik Net Worth: From Shark Tank Deal to Million Empire
Akeem Shannon founded Flipstik in 2017 with the slogan “Stick your phone anywhere.” During their November 6, 2020, Shark Tank USA Season 12 appearance, they struck a deal with Lori Greiner, exchanging $100,000 for 20% equity. Just like the founder had predicted, the final worth came to $500,000.
Flipstik is still a functioning corporation. Amazon and the website both sell their merchandise. Here are more details about Flipstik Net Worth.
How Much is Flipstik Net Worth?
With a net value of $25 million, Flipstik is an advanced synthetic glue that lets you stick your device to any flat surface. Wall mounts and kickstands for smartphones come in a wide variety of styles.
However, what makes Flipstik unique is that it comes with an adhesive so you can attach your phone to any surface. Founder Akeem Shannon and Lori Greiner reached a deal on Shark Tank, but it never materialized. When Flipstik appeared on Shark Tank, his net worth was estimated to be $400,000.
Their 2021 worth is expected to increase from $500,000 to $25 million. This adhesive is reusable, situationally changeable, and utilizes space technology. The firm’s founder had a brief stint working for a financial company in addition to selling a lot of phones as a salesperson in multiple places.
Flipstik Founder’s Story
After losing his chance for a Howard scholarship, Akeem felt driven to go for a respectable life. As previously stated, he had a brief career until creating his masterpiece in 2017.
Reusable adhesives are something Akeem can thank his uncle, a NASA engineer, for introducing to him. He created a product that appealed to millennials while he was young. Most young people uniquely utilize their phones.
It was to vlog and upload videos to platforms like Instagram and TikTok. This product became the best-selling item very fast. The fact that Flipstik could be installed on several services was another important selling factor.
Introduction The Flipstik
With the help of the creative Flipstick device, you can easily position your phone on various surfaces. Teenagers have come to love it because of how versatile it is. Flipstick is a compact, easy-to-use device that snaps onto the back of your phone.
It provides a different yet valuable way to hold your phone when taking pictures or videos. Flipstick firmly holds your phone in place even when you’re using it actively, thanks to its powerful adhesive.
Additionally, it is detachable, making portability simple. Flipstick is long-lasting and resistant to tearing or breaking because it is composed of sturdy materials. It may be used in a variety of weather circumstances because it is waterproof as well.
Moreover, it works with all phone models, including Android and iPhone models. Interestingly, Flipstick lets you use it as a kickstand for your phone, so you can use it to prop it up or attach it to a flat surface.
It has a powerful adhesive that holds two pounds of weight before becoming less tacky. You can clean the glue with alcohol pads or soap and water. Flipstick furthermore provides an assortment of colors and designs.
Flipstik Establishing Company
Born in Missouri, Akeem developed his dream of becoming an entrepreneur while working at Square. A group of successful business owners surrounded him. Synthetic setae was presented to him by his uncle, a NASA engineer.
With hot water, an adhesive can be regenerated and adhered to any surface. Flipstik was created because Shannon proposed using it as a phone kickstand. Flipstik resolved Akeem’s annoyance about having to hold his phone firmly when capturing media.
In its early stages of operation, Flipstik raised $10,310 from 460 backers. An online campaign on Kickstarter helped raise the money. The startup grew quickly; by 2019, its revenue had surpassed $100,000.
After losing a scholarship, Akeem Shannon went home because his passion drove him. He went from working in telecom to Square. Still, he was determined to be his boss.
During a 2017 phone discussion with his uncle, who works for NASA, a concept came to him. NASA’s exploration of reusable adhesives inspired Akeem. He created the washable synthetic setaeTM material, which combines science and daily living.
Akeem developed a prototype kickstand in December 2017. With the ability to cling to wood, walls, mirrors, leather, and dashboards, this prototype offered versatility.
Kickstands are unique in that they have a strong polycarbonate hinge and come in a wide range of colors, zodiac signs, and designs. They can sustain wallets, remote controls, iPads, frames, and keys weighing up to two pounds.
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After Shark Tank, the agreement with Lori Greiner was never finalized. On Lori’s website, where she discloses her investments, Flipstik is not mentioned.
Diamond John may have done this because he owns Love Handle, a comparable product, but he seemed to convince Lori against the transaction. He did not want to go off against another Shark.
Sales increased as a result of the show’s attention, and Flipstik kept going. Akeem went digital and sold straight through GetFlipstik.com, taking Lori’s advice.
With a $50,000 funding from the UMSL DEI Accelerator in 2021, Flipstik was able to gain access to 300 Target locations. The product is available on Amazon, where it has 532 reviews and an average rating of 3.5 stars.
The $5 million yearly sales projection for Flipstik looks excessive. A revenue of $1 million per year seems more realistic. In the most recent funding, Flipstik was valued at $5 million.
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