Hibear Shark Tank Update (Season 15)

Mark Tsigounis, founder of Swiss Army Tool of Insulated bottles company Hibear, asked the Sharks for $150k for 5% equity at a $3 Million Valuation after entering Shark Tank Season 15 Episode 19.

Mark went on a trip to a remote area with his wife and did not find a coffee store like Starbucks. He was looking for insulated bottles that could craft beverages. After 3 years of R&D, the All-Day Adventure Flask (Hibear) was born.

He launched a crowdfunding campaign on Kickstarter on September 8, 2020, raising $98,357 in 30 days. By July 2021, all backers had received the All-Day Adventure Flask product, which was officially announced on Kickstarter.

Many backers from 2021-2023 have commented that they have not received the product yet. Reno Seed invested $150,000 in this company in a pre-seed round in July 2021. He needs an expert partner like Sharks who can help him expand his business. So let us know whether Hibear got the deal in Shark Tank or not.

What Is Hibear?

Hibear is a company that makes bottles for crafts beverages, called the All-Day Adventure Flask according to its founder. People can make beverages like coffee, cocktails, etc. from anywhere.

This bottle has Pour Over Lid, Cocktail Strainer, Steel Basket, Sleeve, Flask, and Thermal Core. It is also very easy to clean. The 32 oz Adventure Flask bottle comes in 8 different colors and is priced at $95.

Company NameHibear Co
FounderMark Tsigounis
Founded2017
ProductAll-Day Adventure Flask
Asked For$150k for 5% equity
Final DealNo Deals
SharkNo Sharks
Episode (Shark Tank USA)S15 E19
Air DateApril 5th, 2024
Business StatusIn Business
WebsiteVisit Website
HeadquartersReno, Nevada, USA
Lifetime Worth (Sales)$0.8M *estimated
Buy and WatchBuy NowAmazon Prime

All-Day Adventure Flask

  • Easy to Clean
  • 4.5 Star Rating
  • Great for camping

Another Shark Tank Pitch

Who Is The Founder Of Hibear Co?

Image via ABC Shark Tank

Mark Tsigounis is the founder and CEO of Hibear Company. He started this company in 2017. In addition to being the owner of this company, since 2011 he has been the Lieutenant Commander of the US Navy Reserve.

How Was The Shark Tank Pitch Of Hibear?

After seeking investment from the Sharks, Tsigounis pitched the product. Making cost of the product is $15.50 and the retail price is $95. 40% of their sales come from corporate. Their lifetime sales were $745,000 and last year were $320,000.

He is projecting million-dollar sales next year. Currently, he has a debt of $200,000. At present, he is not profitable but he wants to expand the business.

Mark Cuban said it’s too difficult to grow this business, so he’s out. The customer acquisition cost at Google is $52. Kevin O’Leary is concerned about why the business is not able to make a profit yet.

Emma Grede said that according to her this business is in the initial stage so she cannot invest. Robert Herjavec said it’s a great product but he is out. Lori Greiner said she is not ready to invest in this business yet.

Sharks Offers list!

SharksOffers
Robert Herjavec Robert HerjavecNo Offer
Kevin O'Leary Shark Tank Profile Kevin O’LearyNo Offer
Mark Cuban Shark Tank Profile Mark CubanNo Offer
Emma Grede Shark Tank Profile Emma GredeNo Offer
Lori Greiner Profile for Shark Tank Lori GreinerNo Offer
Founder’s (Countered)No Offer
Final DealsNo Deals

What Happened To Hibear After Shark Tank?

All the sharks refused to invest in this business. There is not much information about this business yet, so stay with us.

Hibear Shark Tank Update

After entering the Shark Tank, Founder Mark tells the Sharks about his product and how it is the best bottle for travelers. If we get any information about this company in the coming time, we will update it on this post.

What Is Hibear’s Net Worth?

Hibear’s net worth is estimated at $1 million. This company had raised an investment of $150k from various investors before Shark Tank. Perhaps this company needs more funding for marketing.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2024 *estimated
2020-20230.8M *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2021$150kReno Seed Fund

Outdoor travel and gear brand Hibear Design Co was founded in 2017 by Navy Commander Mark Tsigounis. To build a brand, this company will have to spend millions of dollars on marketing.

This company is officially headquartered in Reno, Nevada, United States, and has 2-10 employees according to the company’s LinkedIn profile.

Yes, Nowhere Bakery is still in business as of April 2024.