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What Happend to PostureNow After Shark Tank?

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Introducing the PostureNow: The Secret Weapon Behind Stronger, Healthier Posture

Step into the world of posture perfection with PostureNow, a revolutionary training tool that’s taking the world by storm. But what sets it apart from the rest? Let’s unravel the mystery.

Imagine two movable armbands, elegantly connected by an elastic strap that’s not just adjustable but personalized to fit your unique needs. These aren’t just any armbands – they’re the guardians of your posture, securing themselves snugly around your biceps with a Velcro embrace.

But what’s beneath the surface? Each component meticulously designed for maximum effectiveness. Picture three adjustment points, strategically placed on each band, ensuring a tailored fit that’s as comfortable as it is supportive. And the connection? It’s not just sturdy; it’s a masterpiece of engineering. A plastic loop connector binds the armbands to the back strap, creating a fortress of stability.

But wait, there’s more. The devil’s in the details, they say, and in this case, it’s true. Double-stitched with precision, reinforced with backing fabric, every inch of the armband area is built to withstand the test of time. And that stress zone? Strengthened by a cleverly integrated piece of elastic fabric, ensuring durability without compromise.

Now, let’s talk about the cuff – where innovation meets comfort. A seamless fusion of Velcro and neoprene, it’s like wrapping your arms in a cloud. But don’t be fooled by its soft exterior; underneath lies a hidden strength. A 1.25-inch strip of unforgiving “hook” material ensures a grip that’s unyielding, while vinyl-reinforced adjustment slots provide stability that’s second to none.

In a world where slouching is the norm, the PostureNow stands tall as a beacon of hope. So, why settle for anything less than perfect posture? With the PostureNow, the journey to a healthier, happier you begins today.

PostureNow at a Glance:-

IdeaBack brace that improves posture
FoundersMike Lane and Matt Franklin
Asked For$100,000 for 15%
Accepted Deal$100,000 for 30% + $5 royalty until repaid
SharksMark Cuban
Business statusIn Business
Episode No.Season 4
Buy on AmazonBuy Now!

Index:

Founder Story:

Friends and former colleagues Mike Lane and Matt Franklin founded Portland, Oregon-based Lane Franklin LLC. The company was established in March 2009.

Mike used to be the director of sales for a New York City-based company that handled and sent artwork. Matt was a high-tech corporate employee who made training films while residing in Portland. Since then, they have given up their employment to focus on their joint company venture, Lane Franklin.

Mike and Matt started the business with a $10,000 initial investment and a plan.

Did PostureNow get a deal on Shark Tank?

Although Mike and Matt were proud of the two neoprene armbands they designed to assist people sit with better posture, they felt it would be more appropriate to use Jonathan Roberts and Anna Trebunskaya from Dancing With the Stars to market their PostureNow product.

The two demonstrated and attested to the effectiveness of the substance by dancing around the stage.

The sharks were eager to find out about the sales and saw that $330,000 worth of PostureNow had been sold via internet channels.

This was sufficient for Daymond John to get personally offended by the request, which asserted the business’s $700,000 valuation.

Unfazed, Mike went on pitching the contraption to the sharks, claiming that it was under patent and that human resources and chiropractors had expressed interest in it.

Daymond, however, went on to cast doubt on the situation by reminding them that it would all be for nought if the interested parties failed to send a check or place a firm order.

Regretfully, Mike and Matt admitted that they thought of PostureNow more as a hobby than a legitimate business, therefore they took the net earnings rather than investing them.

Mike showed the sharks that he was serious despite his prior reservations about PostureNow’s potential by announcing on national TV that he would quit on the spot if they struck a deal.

See also  Grill Charms: What Happened After Shark Tank? [Updated]

Kevin O’Leary placed a bid, but Mike cut it off right away, so all he could say was “$100,000 for 50%”.

Confused, Kevin told him to settle down and pay attention. Kevin added the second half of his offer—$100,000 for 50% and a 10% royalty—when Mike accepted. Mike shot back a blunt and thunderous no.

When Mike said he was “offering something” instead of “begging” for a deal, his conceit was obvious.

Daymond went outside because he could take no more. Next to speak was Barbara Corcoran, who leveled numerous grievances over the merchandise and presentation.

Subsequently, Robert Herjavec offered $100,000 for 40%. For the first time since the original pitch, Matt eventually broke the silence and asked Mark Cuban if he had an offer.

Offended by their rudeness and disinterest, Robert turned to leave.

In exchange for 30% of the business, Mark provided $100,000, but he also demanded a $5 royalty on every unit sold until the $100,000 was paid back in full.

In order to show his devotion to PostureNow, he added, Mike needed to quit his work and give it his all.

What happened to PostureNow after Shark Tank?

The journey of Mike and Matt, the creators of PostureNow, took an unexpected turn after their appearance on Shark Tank. With the adrenaline of the show still coursing through their veins, Mike made a bold move, resigning from his position on national television, signaling a new chapter for the duo. Matt followed suit, leaving by the end of 2012, setting the stage for their entrepreneurial adventure.

Despite the uncertainty of their future, their gamble paid off handsomely. In the wake of their Shark Tank debut, PostureNow experienced a surge in demand. Within a week of the original air date, they raked in nearly $100,000 in sales, a testament to the power of prime-time exposure.

March 2013 marked a pivotal moment for Mike and Matt as they embarked on a tour of a facility dedicated to creating new products. Buoyed by their newfound success, they were determined to expand their offerings and capitalize on their momentum.

The impact of their Shark Tank appearance was undeniable. PostureNow’s sales skyrocketed, surpassing the cumulative sales of their first three years in business within a matter of months. Their once steady growth had transformed into a meteoric rise, fueled by the attention and validation garnered from the renowned television platform.

Through it all, one thing remained constant: the company’s dedication to delivering innovative solutions for better posture. With their sights set on the future, Mike and Matt embraced the challenges and opportunities that lay ahead, knowing that their journey was just beginning.

What’s the net worth of PostureNow?

When the founders of PostureNow stepped into the Shark Tank, they had a vision – to revolutionize posture training and change lives. But as the sharks circled, they faced the ultimate test: valuation.

With confidence in their product and dreams of success, they placed a bold valuation of $600,666 on the table. The sharks were intrigued, but they smelled blood in the water. Negotiations ensued, and after a flurry of offers and counteroffers, the dust settled at a more conservative $350,000 valuation.

Is PostureNow still in business?

Indeed, PostureNOW is still in business and asserts itself as the top-selling posture corrector brace globally.

The purpose of the posture brace, as seen on Shark Tank, is to assist users in maintaining proper posture all day.

It has padded straps that allow for breathability, premium materials, and the ability to be worn under or over clothes.

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FAQs:

What is PostureNow?

PostureNow is a posture training device designed to help individuals improve their posture. It consists of two movable armbands connected by an elastic strap that can be adjusted to fit the user’s body. The armbands are secured around the biceps using a Velcro system, and there are three adjustment points on each band for a customized fit. The armbands are connected to a back strap made of elastic material via sturdy plastic loop connectors.

What's the net worth of PostureNow?

With confidence in their product and dreams of success, the founders placed a bold valuation of $600,666 on the table. The sharks were intrigued, but they smelled blood in the water. Negotiations ensued, and after a flurry of offers and counteroffers, the dust settled at a more conservative $350,000 valuation.

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