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 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?
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!
| 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 |
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.
The progress report of this company was revealed in S15 E19 in which founder Nathaniel said that they had received the first order of 10,000 umbrellas.
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.
| Years | Annual Revenue |
| 2023 | $ *estimated |
| 2022 | $ *estimated |
Funding Reports to Date!
| Years | Funding Amount | Investor |
| 2024 | $100K | Robert Herjavec |
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 April 2024.
