Press "Enter" to skip to content

Phoozy Shark Tank Update

0

Phoozy is a company that offers protective cases for laptops, mobile phones, and tablets. Phoozy cases are made up of the same material that is used to make NASA spacesuits. Imagine the protection these cases provide! Phoozy is a savior for clumsy hands.

Phoozy provides protection against cold and hot weather, floatation, and drop. The cases range from $34.99 to $69.99, the former for phone cases and the latter for laptop cases. Phoozy has also introduced protection against germs after the Covid outbreak.

Phoozy at a Glance:-

IdeaA protective suit that protects devices from weather and environmental damage
FoundersKevin Conway and Josh Inglis
Asked For$50,000 for 10% equity
Accepted Deal$50,000 for  8% equity +1.5 cent royalty per unit
SharksRobert Herjavec and Lori Greiner
Business statusIn business
Episode No.Season 12, Episode 19
Website https://phoozy.com/
Buy on AmazonBuy Now!

Index:

Who was the founder of Phoozy?

The founders of Phoozy are the friends Kevin Conway and Josh Inglis. Kevin was a NASCAR driver. Once on a boat, his phone overheated and he had to miss a very important call. He then approached Josh and they decided to design something unique. Kevin knew the power of the material used to make NASA spacesuits because his NASCAR costumes were made of the same material. And this idea gave birth to the solution to people’s numerous problems.

Did Phoozy get a deal on Shark Tank?

Kevin and Josh came on the show in season 12, episode 19 to expand their business and to get the exposure to make Phoozy a brand. The duo came on the show looking for an investment of amount $ 500,000 for 10% equity of the company. They shared their story about how they established their company after which they showed the complete demonstration of their product and explained its working process.

The sharks were very impressed with the work up until then and the achievement of Phoozy. Kevin said that he gave up his seats at Lemans to appear on the show. Robert Herjavec was the first to give an offer of $150,000 for 4% equity along with the addition of $1 per unit royalty until he recovers his investment.

Lori Greiner also gave an offer of $500,000 which was the amount asked for 4% equity, plus $1 per unit royalty until she gets back double of her investment which was $1million. Kevin asked Lori and Robert to team up and they agreed to that.  Lori and Robert gave a combined offer of $500,000 for each shark for 4% equity along with $1.5 per unit royalty until they get their investment amount back. Kevin O’Leary ( Mr. Wonderful) placed his offer on the table of $500,000 for 2.5 % equity and $1per unit royalty until he gets back $ 1million back from the business.

Lori tried hard to convince the Phoozy founder to accept her and Robert’s deal and they agreed to her point and made a deal with them for $ 1million for 4% equity along with $1.5 per unit royalty until they get their investment amount back. They took their checks and the pitch got closed.

See also  How to Write a Good Business Case Study Paper?

What happened to Phoozy after Shark Tank?

After the initial airing of the show, Phoozy sales boost up to 400%, Sales increased meant Profit increased. Consumers on the Amazon profile of Phoozy had commented on very positive reviews. Almost every customer had rated them 5 stars on Amazon. Unfortunately, the deal made on the show between Lori Greiner, Robert Herjavec, and Kevin Conway was never closed.

Kevin shared that he had received many calls from different retailers for their products after their appearance on the show. Customers had reviewed that it protects the phone from getting warm even if placed under the sun for a duration of 4 hours. Also, it can save your phone from water which was some major positive points helping to attract customers towards it. Phoozy does its sales on its own website and on Amazon.

Phoozy is not available on Instagram which can be a good step to growing their market more. If we talk about the sales figure, before arriving on the show in the year 2019, was $1,500,000. They were forecasting to touch $4.5 million in sales in the year 2020. What is the cost of it? Bizz Bucket will answer this curious question of yours. Its Phone cases range from $34.99 for mobile cases to $69.99 for laptop cases.

Phoozy had expanded its market with several retailers which include Peter Glenn Ski and Sports. Phoozy serves cases for Laptops, Phones, Computers, and Tablets. Additionally, they had added to inhibit germs during the period of Pandemic Covid -19. Phoozy covers are available in different and attractive colors and cover the market for all types of phones and various other electronic appliances mentioned above.

The average revenue of Phoozy is expected or approximately around $4 million per annum as of July 2021. Phoozy is expanding its market day by day by providing safety to consumer phones and happiness to their faces. Phoozy is prepping its website and warehouses and reached an estimated valuation of $12 million.

Competitors of Phoozy:-

  • Wow Cases
  • Top Go
  • Casetify
  • Retroduck
  • Pela Case

What is the net worth of Phoozy?

As of 2021, the net worth of Phoozy is estimated to be $1.3 million. Average sales per year are around $4 million per year.

Is Phoozy is still in business?

Phoozy still holds its position in the market and growing its business smoothly with customer satisfaction, product development, and best services.

Phoozy social links:

Do Share Your Thoughts:

Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.

Also, do check our Startup Resources section, and don’t forget to join our weekly newsletter 📰 which contains pure startup and business wisdom and no bullshit!!

Related Articles:

FAQs:

What is Phoozy?

Phoozy is a company that offers protective cases for laptops, mobile phones, and tablets. Phoozy cases are made up of the same material that is used to make NASA spacesuits. Imagine the protection these cases provide! Phoozy is a savior for clumsy hands

Who founded Phoozy?

The founders of Phoozy are the friends Kevin Conway and Josh Inglis. Kevin was a NASCAR driver. Once on a boat, his phone overheated and he had to miss a very important call. He then approached Josh and they decided to design something unique.

Leave a Reply

You cannot copy content of this page