The Duo Shark Tank Update (Season 15)

The Duo is an umbrella business that sells dual-handle umbrellas. This brand is a subsidiary of the global umbrella brand Shed Rain. Nathaniel Wellen is the grandson of one of Shed Rain’s founders.

Global Umbrella Company Shed Rain was founded in 1947. Nathaniel has a lot of knowledge about Umbrella Technology and he got the Design Patent of Dual Handle Umbrella in 2018.

To launch this new dual-handle umbrella, Nathaniel appeared on Shark Tank Season 15 Episode 11 and asked the Sharks for $100k for 10% equity. He hopes that Sharks will help him in launching this product in the market.

What Is The Duo?

The Duo is a double-handled umbrella. Two people can use this umbrella simultaneously. However, currently, a lot of double-handle umbrellas are being sold on Amazon and many people are buying double-handle umbrellas.

Company NameThe Duo
FounderNathaniel Wellen
Founded2018
Productdouble-handled umbrella
Asked For$100k for 10% equity
Final Deal$100k for 18% equity
SharkRobert Herjavec Robert Herjavec
Episode (Shark Tank USA)S15 E11
Air DateJan 19, 2023
Business StatusIn Business
WebsiteVisit Website
HeadquartersRedondo Beach, California, USA
Lifetime Worth (Sales)$0M *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of The Duo?

The Duo Co-Founder Nathaniel Wellen via shedrain1947 Instagram

The co-founder of the duo business is Nathaniel Wellen, who is the grandson of one of the founders of Shed Rain Company.

The chair of the board of directors of this business is Alex Wellen, who is currently the CEO of Motortrend Group.

How Was The Shark Tank Pitch Of The Duo?

After entering the Shark Tank, Nathaniel asked the Sharks for $100k for 10% equity. In this episode, Nathaniel appeared along with his mother and sister.

He, along with his mother and sister, did a demo session and explained this double-handle umbrella to the sharks. Currently, this product is in the prototype stage and it is currently a pre-revenue company.

This product has a utility patent for the two-handle idea, another utility patent pending is for the locking mechanism of the second handle.

This company is a partnership with Shed Rain Company, the No. 1 umbrella company in the United States. Shed Rain Company manufactures the product. They own 49% shares of this company. Shed Rain sells 15 million umbrellas every year.

The compact umbrella has a landed cost of $4, wholesale sales of $10, and a retail cost of $25. The landed cost of the stick umbrella is $8, wholesale is $20 and retail cost is $50.

Barbara Corcoran said that you do not need sharks because you are already in partnership with Shed Rain Company, so she is out. Kevin O’Leary also refused to invest in this business.

Mark Cuban also refused to invest in this business. Lori Greiner repeated Barbara’s words and out of this business. Robert Herjavec offered $100k for 20% equity. Nathaniel counters Robert $100k for 15% equity. Robert said he could do it for 18%. Nathaniel accepted Robert’s offer.

Sharks Offers list!

SharksOffers
Robert Herjavec Robert Herjavec$100k for 20% equity (#1)
$100k for 18% equity (#2)
Kevin O'Leary Shark Tank Profile Kevin O’LearyNo Offer
Mark Cuban Shark Tank Profile Mark CubanNo Offer
Barbara Corcoran Barbara CorcoranNo Offer$100k cash + $50k as a line of credit for a royalty of $12 per unit sold (#2)
Lori Greiner Profile for Shark Tank Lori GreinerNo Offer
Founder’s (Countered)$100k for 15% equity (#1) (Robert)
Final Deals$100k for 18% equity

What Happened To The Duo After Shark Tank?

The Duo Double Handle Umbrella Company Gets a Deal on Shark Tank. Robert took 18% equity in this company and invested $100k. Nathaniel is a 15-year-old school student who started this company. He is an inspiration to many people.

The Duo Shark Tank Update

After entering the Shark Tank, Nathaniel gave a very good pitch and tried to convince the Sharks to invest in this business. After this episode aired, many people started demanding to buy this product.

What Is The Duo’s Net Worth?

The Duo’s net worth is estimated at $0 million. The umbrella industry is complicated and the annual growth of this industry is only 2% and many big brands are present in this industry. According to some sources, the market size of this industry can 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.

YearsAnnual Revenue
2023$ *estimated
2022$ *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2024$100KRobert Herjavec

Is The Duo Still In Business?

To grow this business, a lot of capital is required along with a good marketing strategy, only then it will become a profitable business.

The official headquarters of this business is in Redondo Beach, California, United States and it has 2-10 employees according to its LinkedIn profile.

Yes, The Duo is still in business as of January 2024.

frequently asked questions

Who founded The Duo?

The Duo was founded by Nathaniel Wellen.

Did The Duo get a deal on Shark Tank?

Yes, The duo got a deal in Shark Tank.