The Duo is a company that sells dual-handle umbrellas and operates as a subsidiary of the global umbrella brand Shed Rain. Nathaniel Wellen, the grandson of one of Shed Rain’s founders, is the driving force behind this innovation.
Shed Rain, a global umbrella company, was founded in 1947. Nathaniel Wellen, with his extensive knowledge of umbrella technology, secured the design patent for the dual-handle umbrella in 2018.
In an effort to launch this new product, Nathaniel appeared on Shark Tank Season 15, Episode 11, seeking $100,000 for 10% equity. He hoped the Sharks would assist in bringing the dual-handle umbrella to market.
The Duo’s umbrella features two handles, allowing two people to use it simultaneously. Despite the growing market for dual-handle umbrellas on Amazon, this innovative design aims to offer a unique solution for shared use.
| Company Name | The Duo | |
| Founder | Nathaniel Wellen | |
| Founded | 2018 | |
| Product | double-handled umbrella | |
| Asked For | $100k for 10% equity | |
| Final Deal | $100k for 18% equity | |
| Shark |  Robert Herjavec | |
| Episode (Shark Tank USA) | S15 E11 | |
| Air Date | Jan 19, 2023 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Redondo Beach, California, USA | |
| Lifetime Worth (Sales) | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of The Duo?
Nathaniel Wellen, co-founder of The Duo, is the grandson of one of Shed Rain’s founders. Alex Wellen, the current CEO of MotorTrend Group, serves as the chair of the board of directors for The Duo.
How Was The Shark Tank Pitch Of The Duo?
Here is a revised version of your information:
After appearing on Shark Tank, Nathaniel Wellen, along with his mother and sister, requested $100,000 for 10% equity in The Duo. They demonstrated the double-handle umbrella to the Sharks. At the time, the product was in the prototype stage and the company was pre-revenue.
The umbrella has a utility patent for its dual-handle design, with an additional utility patent pending for the locking mechanism of the second handle.
The Duo is partnered with Shed Rain Company, the leading umbrella manufacturer in the U.S., which holds a 49% stake in the business. Shed Rain sells 15 million umbrellas annually.
The compact umbrella has a landed cost of $4, a wholesale price of $10, and a retail price of $25. The stick umbrella’s landed cost is $8, with a wholesale price of $20 and a retail price of $50.
Barbara Corcoran and Kevin O’Leary both declined to invest, citing the existing partnership with Shed Rain as sufficient. Mark Cuban also passed on the opportunity. Lori Greiner echoed Barbara’s sentiments and withdrew from the deal.
Robert Herjavec offered $100,000 for 20% equity. Nathaniel countered with $100,000 for 15% equity, which Robert adjusted to 18%. Nathaniel accepted Robert’s offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Robert Herjavec | $100k for 20% equity (#1) $100k for 18% equity (#2) |
 Kevin O’Leary | No Offer |
 Mark Cuban | No Offer |
 Barbara Corcoran | No Offer$100k cash + $50k as a line of credit for a royalty of $12 per unit sold (#2) |
 Lori Greiner | No Offer |
| Founder’s (Countered) | $100k for 15% equity (#1) (Robert) |
| Final Deals | $100k for 18% equity |
The Duo Shark Tank Update
The Duo Double Handle Umbrella Company secured a deal on Shark Tank, with Robert Herjavec investing $100,000 for an 18% equity stake. Nathaniel Wellen, a 15-year-old school student, founded the company and has become an inspiration to many.
During his Shark Tank pitch, Nathaniel effectively convinced the Sharks to invest in his business. Following the episode, there was a surge in demand for the product.
In the progress report revealed in Season 15, Episode 19, Nathaniel announced that they had received their first order of 10,000 umbrellas.
What Is The Duo’s Net Worth?
The Duo’s net worth is currently estimated at $0 million. The umbrella industry is competitive, with an annual growth rate of only 2% and many established brands. The market size for this industry is projected to reach up to USD 5.8 billion by 2027.
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.
| Years | Annual Revenue |
| 2023 | $ *estimated |
| 2022 | $ *estimated |
Funding Reports to Date!
| Years | Funding Amount | Investor |
| 2024 | $100K | Robert Herjavec |
To grow the business, significant capital and a strong marketing strategy are essential for profitability.
The company’s headquarters is located in Redondo Beach, California, United States, and it employs between 2 and 10 people according to its LinkedIn profile.
Yes, The Duo is still in business as of August 2024.
