All33 is an innovative company that specializes in dynamic ergonomic office chairs, launched in January 2020.
These chairs are designed to improve posture, reduce pain, and enhance well-being, allowing for freedom of movement. The seat adjusts to the user’s body as they change positions.
The chair features adjustable arm support, providing a comfortable, pain-free experience while sitting. A key highlight is its “sit-in-motion technology,” which promotes active sitting.
Watch this video to learn how the All33 chair works.
| Company Name | All33 |
| Founder | Bing Howenstein |
| Product | an innovative dynamic ergonomic office chair that keeps your vertebrae moving while you sit |
| Asked For | $500,000 for 2.5% equity |
| Final Deal | No Offer |
| Shark | No Shark |
| Episode (Shark Tank USA) | Season 12 Episode 9 |
| Air Date | January 8, 2021 |
| Business Status | In Business |
| Net Worth | $2 Million *estimated |
Who Is The Founder Of All33?
The CEO of the All33 brand is Bing Howenstein, an inventor, while Dr. Dennis Colonello serves as an inventor and Jim Grove is the co-founder.
Howenstein became the president of George Street Pictures after earning his bachelor’s degree from Lehigh University. Over his 20-year career, he has led companies such as BackJoy Orthotics, LLC, and Bonfire Enterprises, LLC, both of which closed in 2016 and 2019, respectively. In 2020, he became a founding partner of Direct Consumer Acquisitions, LLC.
Jim Grove founded Designworks USA, a firm that provides design, engineering, modeling, and analysis services to various companies, including BMW. He is also the founder of Heartland USA, a supplier of custom motorcycle accessories. The All33 chair was designed by his company, LA Product Design.
Did All33 Get a Deal on Shark Tank?
Bing Howenstein, the founder of ALL33, appeared on Shark Tank seeking $500,000 in exchange for 2.5% equity.
During his pitch, Howenstein showcased a video featuring Justin, who provided a positive review of the ALL33 chair. While Kevin liked the chair, he was not impressed with its valuation. Howenstein had previously run a Kickstarter campaign that raised $800,000 for the product’s development.
The premium chair is priced at $2,000, but the ALL33 chair was selling for $799 in 2021 and $900 during a sale in July 2022. The owner enjoys a 67% margin, with total costs from manufacturing to delivery amounting to $260.
Kevin questioned Howenstein about his $20 million valuation and asked about sales figures. The founder reported $3.2 million in sales by 2021, with expectations to reach $5 million by year’s end.
Mark Cuban stated he does not like the chair business and opted out for that reason. Barbara Corcoran remarked that the product is not a new category but rather a simple chair with added features, leading her to decline as well. Daymond John mentioned he was already working with another chair company, which prompted his exit. Lori Greiner found the valuation strange, prompting her to opt out as well. Kevin O’Leary reiterated his disinterest in the valuation and declined to invest.
Ultimately, none of the Sharks invested in the ALL33 chair company.
All33 Shark Tank Update
Due to the high valuation of the ALL33 chair, it did not receive funding on Shark Tank, as most Sharks were unable to justify its price.
To date, more than 37,000 satisfied customers have used this product. The chair has been featured in major publications, including Daily Mail, The New York Times, Forbes, and Rolling Stone.
According to reports, by July 2021, the company had generated $4 million in annual revenue.
What Is ALL33 Net Worth?
ALL33’s net worth is estimated at $2 million.
The chair has been used by many celebrities, including Ted Danson, Danny Glover, George Hamilton, Justin Bieber, Dr. Travis Stork, Elon Musk, and Shaquille O’Neal.
This category is highly competitive, with many established brands already in the market. As a result, it can be challenging for a new startup to compete effectively.
