Flated showed off many of their different products, and how several of them could be stored in backpacks, which certainly addresses one of the biggest issues when it comes to automotive storage accessories. During their presentation, the founders of “Flated” mentioned how they all worked for a paddle-board company in 2009 that focused mainly on inflatable iterations.
Although many of their contemporaries scoffed at the idea of an inflatable paddle-board, the Flated founders added that 90% of the paddle-board market is now inflatable. Attempting to capitalize on this trend, Flated fully embraced air-filled accessories. It was also brought up that Flated’s truck-bed Air-Topper was their biggest seller, accounting for 80% of the company’s sales. As a point of reference, rigid fiberglass truck toppers often retail for upwards of $3,500, while Flated’s version range from $1000 to $2000, depending on the model. While many of the investors of “Shark Tank” enjoyed Flated’s presentation, many of them bowed out for different reasons — Lori Greiner didn’t think Flated was worth as much as they claimed, while Kevin O’Leary also felt like there was a disconnect when it came to Flated’s valuation. Mark Cuban also bowed out, but Daymond John offered $350,000 for 8% of the sales, and once he recuperated his investment, 5% in perpetuity.
This caused Flated’s founders to counter-offer 7% of the sales, and then 4% after John made his money back, though this caused John to withdraw his offer. However, Flated’s creators then discussed among themselves their options, and eventually relented and accepted John’s proposal.
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