Zipstring is a product that makes strings fly in the air. This product makes the string fly in the air by balancing the force of gravity, lift, tension. Using this any type of shape can be designed from strings in air.
Zipstring is a rechargeable electronic device through which different types of unlimited tricks can be made and played. This string will convert to many things, including Freestyle, Step Through, Zipaloon, Zip Flip, Zip Sync, Gliding on Cups, Mavericks and many more.
This product can become a great activity for kids, through this kids can do different fun things. Through this product, not only children but also elders can create their own happy memory.
ZipString founder Stephen Fazio and Austin Hillam both left their university in 2021. A few years ago, Stephen saw a physics teacher demonstrating a benchtop string launcher, he had a device that looped the string.
Stephen compacted that benchtop version and built a prototype by making it handheld. Austin made this prototype a toy and made a video of it and uploaded it on social media. That video went to 20 million views in One Day and that video was featured on the Reddit front page.
Stephen and Austin both appeared on Shark Tank Season 14 Episode 9 and asked the sharks for $100,000 for a 10% equity at a $1 Million Valuation.
What Is ZipString?
A ZipString is a toy that makes strings fly in the air. This rechargeable electronic device, this string can fly 35 miles per hour and is safe to touch. Through this, unlimited tricks can be created and played with.
This is an electronic toy, two motors, one battery etc. have been installed inside it, which converts the string into a loop.
Zipstring is available in 5 colors Aqua, Lime, Red, Blue and Violet. Each product comes with 3 string loops of different sizes. The price of this product is $24.99 and it is available on the company website.
|Founder||Stephen Fazio and Austin Hillam|
|Product||Toy makes the strings fly in the air|
|Asked For||$100K for a 10% equity|
|Final Deal||$100K for a 20% equity|
|Shark||Kevin O’Leary and Robert Herjavec|
|Episode (Shark Tank USA)||Season 14 Episode 9|
|Air Date||Dec 9, 2022|
|Business Status||In Business|
|Headquarters||Johns Creek, Georgia, United States|
|Go To Amazon||Buy Now|
Another Shark Tank Pitch
Who Is The Founder Of ZipString?
Zipstring is founded by Stephen Fazio and Austin Hillam, and Austin’s father Mark is a member of the business. This business was started in 2021 from the basement of the Hillam family home.
ZipString Before Shark Tank
This product prototype was made by Stephen after seeing a physics teacher demonstrating a benchtop string launcher. Stephen, along with his friend Austin, converted the prototype into a Zipstring toy.
After making a video of this product, Austin uploaded it on social media, on seeing it, it went up to 20 million views in a day.
Zipstring’s video was on the front page on Reddit, with over 200,000 million views across all social media platforms to date. Due to going viral, this product got many orders for Stephen & Austin.
Due to Pandemic both the founder had to face the supply chain and manufacturer issue, But their family and friends helped them to manufacture and ship the product from Johns Creek, Georgia.
Till now they have shipped their products to 50 countries all over the world. Kickstarter campaign launched on Sep 8 2021 with a target of $75,000, raised $90,466 in 32 days(Oct 10 2021) from 1,622 backers. The product was shipped to all the backers by March 2022.
How Was The Shark Tank Pitch Of ZipString?
Stephen Fazio and Austin Hillam both entered Shark Tank wearing a bodyguard suit with their product zipstrings. They asked the sharks for $100k for a 10% equity. Both of them made different types of tricks with the help of this product like steps through, corkscrew, etc.
All the sharks tried this product and everyone found it very interesting, especially Robert. Stephen has told that he had uploaded this toy video on social media platform, got 20 million views in just 1 day. Apart from this, it also appeared on the front page of Reddit in 2021. That time it had sold 10,000.
The making cost of this product is $6.35 and it is sold for $25. So far the total has been $277,000, had less sales after 200 million views because of the supply chain issue.
Talk is going on in Walmart in Canada to ship and sell this product, where its price is $14.97. Lori Greiner says it’s early so She is out. Barbara Corcoran said that she cannot do anything in this, then she is out.
Robert Herjavec made an offer of $100k for a 20% equity. Kevin O’Leary made another offer of $100k for a 15% equity. Robert countered the second offer of $100k for a 10% equity that the founder had asked for earlier.
Kevin also offered $100k for a 9% equity. Meanwhile, Mark Cuban said that he does not think this business is investable, so he is out.
Kevin approaches Robert and together they make an offer of $100k for a 20% equity. Austin said he would counter $100k for a 15% equity, Robert said no.
Finalize: Robert Herjavec and Kevin O’Leary invests $100k in ZipString for 20% equity.
What Happened To ZipString After Shark Tank?
Both Kevin and Robert became partners with 10% equity each in the company. The product is now ready to reach every American’s home, says Austin.
This product creates a new category in the toy industry which was not there yet. There are many people who will see this product by using it once.
Within 2 days of this episode of Shark Tank airing, all the products were out of stock and went on pre-order. Many people have bought this product after watching Shark Tank episode, one of them is Twitter user @Mikem717.
ZipString Shark Tank Update
Austin & Stephen both pitched the Zipstring to Shark and the product was so fun all the Sharks loved it. Both Kevin and Robert invested in this business so that it can reach all American homes.
In December 2022, the total sale of this product was $277,000, which is less according to the popularity of the product.
We’re following Stephen Fazio and Austin Hillam along with their company for further updates.
What Is ZipString Net Worth?
When this company appeared in Shark Tank, it was valued at $1 million, but after getting the investment, the ZipString value became $500k. To the best of our knowledge this is the first Strings Fly product that was not yet made.
It was a popular product in the Shark Tank episode and many people must have bought this product.
Is ZipString Still In Business?
Zipstring was launched in 2021 and it also became popular on social media platforms in a short time. Due to the supply chain issue, this product could not sell much.
Currently this product is being shipped to more than 50 countries. A single charge of Zipstring gives a backup of 3-4 hours.
This company is operating in Johns Creek, Georgia, United States and employs 3 to 10 employees.
Yes, ZipString is still in business as of December 2022.