A portable suction hanger was added in Yono Clip Shark Tank Season 12 Episode 12. If we explain it in easy language, then through this product you can keep any bag at any place in a good way.
The Yono Clip is a successful product to the extent of doubt, it has got a lot of good funding from Shark Tank as well. The founder has asked Shark Tank for $150,000 in exchange for 15% of his company’s shares.
So let’s know what has been achieved from Shark Tank Season 12 of Yono Clip and how this product can grow further. In this pandemic time, many products have come into the market, so this can be a good product.
What is Yono Clip?
YONO Clip is a United Base small startup that manufactures portable suction hangers that are needed for a wide range of applications.
If you travel or go somewhere, then you want to keep your bag without touching the germ, then you can do this with the help of this product.
This product is the ultimate solution that helps you to keep your belongings from bottom to top. If you have a bag and it has become very dirty, then you do not want to keep it on the floor of your house, then it has a Yono clip.
You can take this product with you to the office, home, or while traveling and you will be able to hang your belongings in it.
So if you want to buy this clip then it comes in 3 colors Red, Black and Pink, you can buy whatever you like.
Yono Clip Shark Tank Update
|Company Name||Yono Clip|
|Founder||Michael Green And Bob Mackey|
|Business||Portable Suction Hanger|
|Asked For||$150k For 15% Equity|
|Final Deal||$150k For 30% Equity|
|Episode (Shark Tank USA)||S12 E12|
|Business Status||In Business|
|Net Worth||$1.3M *estimated|
Who Is The Founder Of Yono Clip?
Yono Clip is a problem-solving product, it may be needed a lot in the coming time. So the founder of this unique idea is Michael Green and Bob Mackey, both of whom have grown this business.
Founder Mackey is a person with digital knowledge and is the CEO of Boys & Girls Clubs, a North Central Georgia-based company. They have very good knowledge about how to grow a business.
Michael Green is also an Entrepreneur, he oversees the production, and he also has very good knowledge about the product. Both of them have run this startup very well.
Yono Clip Before Shark Tank
Yono Clips had become a brand before coming to Shark Tank, they started getting very good sales through social media and their website. Being a problem-solving product, it was very easy to market. Right now its product is available in online marketplaces like Amazon, and Walmart as well as in all retail stores.
In 2022, so far, he has sold more than 10,000 products.
Yono Clip Get Deal’s In Shark Tank
The founder of Yono Clip has very well pitched his business idea to the shark with a great motivational story. Founders Michael Green and Bob Mackey asked for $150,000 in exchange for 15% of their company’s shares in Shark Tank.
If we talk about the sales of this Yono Clip product, then according to the founder, this company’s sales for 2 months were $ 14,500.
The founders Michael Green and Bob McKay marketed this product very well, due to which they got such good sales in just 2 months.
The founder ran a Kickstarter campaign for his business, in which he got $10,000 in one day. Of the $14,500 he sold, $10K came from his Kickstarter. The rest of the $4K in this came through their website and GYM.
In 2021, the founders were manufacturing this product through 3D printing in their garage at home for 10 bucks and selling it for $20. The founder said that he used to make 10-15 products every week as it is in its initial stage.
According to Barbara Corcoran, this is a competition-filled industry and the product that is needed is not so much, so it is out of this deal.
Mark Cuban says that this is not such a great product in which it can be invested, so because of this, he is out of the deal.
Kevin O’Leary said that he cannot invest in this business as he is already an investor in a similar product Deskview.
Lori Greiner said that she is not sure that it is really unique product and that its work is perfect, that’s why she cannot invest in it.
Daymond John liked the founder’s product. He said that there is still a lot of work to be done on this product. So he will invest $150k but he needs 50% equity.
After some talk, Daymond changes his offer of $150k for 30% equity. But the founder counter-offered the offer of $150k for 20% equity.
In this, Kevin said that you have no idea about this business, it is a lot of challenges, it is very difficult to scale it.
Barbara Corcoran said that it is not a matter of money and qty, it needs a good partner who can make this company grow. There is no doubt that Daymond is a loyal partner to you.
Before investing in this business, Shark took information about the startup’s gross margin and its monthly income. After a lot of things came to light, Shark Daymond John’s offer to invest $150,000 in this startup clouded 30% of the company’s equity was finalized.
What Happened To Yono Clip After Shark Tank?
Yono Clip was found in Shark Tank, and so far the growth of this startup is going very well. After Shark Tank, he also got marketing for free and funding, and after that his growth became very good. He even got a coffee order soon after being featured in Shark Tank. The average price of this product is $20.00.
What Is Yono Clip Net Worth?
In the time of this pandemic, the sales of YONO clip have been very good, so YONO clips’ net worth & Valuation has increased to $450,000.
Is Yono Clip Still In Business?
After Daymond was a partner of this company, the growth of this company completely changed.
When this business came to Shark Tank, it was in its initial stage, it did not do any social media marketing, branding, trend mark register, etc.
Daymond had promised in this that when he signs this deal, all these things will be done by his team. YONO Clip had its trademark registration in September 2020.
Yes, this Yono clip is running its business very well even in October 2022.