Prank-O from the name it can be understood that it has something to do with the prank factor and fun.
Prank-O is a gag gift box company. Prank-O has nothing inside it, either you can give a gag or can be used as a gift box to just replace the gag with a real gift. Prank-O is also characterized as a humor brand product, they sell novelty items but the biggest suspense is their prank packs. Prank-O is an empty box with useless or ridiculous products inside it. Prank-O is a box filled with suspense as you don’t know what you are getting the first time you unwrapped it. Prank-O sounds like a very interesting and entertaining business concept.
Pranko at a Glance:-
|Prank-o is a variety of prank gag joke gift boxes
|Arik Nordby and Ryan Walther
|$640,000 for 8% equity
|$640,000 for 25% equity
|Season 10, Episode 7
Who is the founder of Prank-O?
Arik Nordby and Ryan Walther are the founders of Prank-O. The duo was already prior to business owners of creating these prank boxes, Walter had created ‘ The Onion’, and Arik has a Prank Pack which he used to sell through ‘The Onion’. Also, Prank-O is a subdivision of 30watt which seems to be a very big brand.
Did Prank-O get a deal on Shark Tank?
The duo came on the show with a company named ‘Ryanarki’ in search of investment and expertise from the Sharks. They pitched for an amount of $750,000 for 15% of the company. They distributed their Pranko gift boxes to the sharks and asked them to open them, and with this, they explained their business model and product. After, they revealed their real ask which was $640,000 for 8% equity of the company. Lori Greiner found it a seasonal business and went out.
Daymond John thought it couldn’t be stable and scalable, which got him out of the pitch. Mark Cuban liked the idea and gave them an offer of $640,000 for 25% equity of the company and justified his offer with a statement that he would help them in building a digital platform for their business. Kevin also loved the concept and offered $640,000 for 38 cents royalty on each unit with perpetuity and zero equity. Arik and Ryan took a moment for a small discussion and took Mark Cuban’s offer and made a deal at $640,000 for 25% of the company.
What happened to Prank-O after Shark Tank?
After the show, the deal made between Mark and Pranko founders was never closed. Even then, the duo kept working with their Pranko gag boxes. During the pandemic, they actually nailed the market with their gag boxes, especially with the help of Toilet paper safe and Toilet paper printer. They have also redesigned the Amazon store.
Each box of Prank-O costs around 66 cents per unit to make and they sell it for $8 in the market. Prank-o had done $10million in sales in the year 2013 and $2.8 million in 2018. They also have $1million in debt. Prank-O sells unexpected and ridiculous products like Roto Wipe, Earwax Candle kit, Toilet Tunes, and many other products.
As of 2021, Pranko earns annual revenue of $6 million per annum and during the pitch, the company was offered a valuation of $8 million. Although dealing with Mark never gets closed.
Competitors of Prank-O:
- Nap- Sack
- Godo Prank
- Haha Prank
What is the net worth of Prank-o?
At the time of Shark Tank’s appearance, Prank-O’s net worth is around $2.56 million. As of 2021, Pranko earns annual revenue of $6 million per annum and during the pitch, the company was offered a valuation of $8 million.
Is Prank-O still in business?
Prank-O is still in business as of 2021 and doing great in sales through their websites and Amazon. In 2021, they made a revenue of more than $6 million.
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What is Prank-O?
Prank-O is a gag gift box company. Prank-O has nothing inside it, either you can give a gag or can be used as a gift box to just replace the gag with a real gift.
Who founded Prank-O?
Arik Nordby and Ryan Walther are the founders of Prank-O. The duo was already prior to business owners of creating these prank boxes, Walter had created ‘ The Onion’, and Arik has a Prank Pack which he used to sell through ‘The Onion’.