FinalStraw is a Seattle, WA, USA-based startup that sells Consumer Durables. FinalStraw appeared in Shark Tank USA Season 10 Episode 01. The pitch was presented by founders Emma Rose Cohen and Miles Pepper. They were there to seek $625K in exchange for 5% equity.
What does FinalStraw do?
FinalStraw sells a reusable, collapsible metal straw. Their straw is designed to replace single-use plastic straws. The company makes straws from stainless steel and silicone, it’s durable and built to last a lifetime. The straw is easy to use, assembles itself and is airtight. It also comes with a cleaning tool that is stored in the case. FinalStraw folds into a compact case, about the size of a car key which makes it portable and easy to carry on a keychain or in the pocket. It’s TSA-friendly and perfect for travel, BBQs, camping or daily use. The straw is dishwasher safe, but the case and cleaning brush should be hand-washed.
Company |
FinalStraw |
Founder |
Emma Rose Cohen and Miles Pepper |
Founded in |
2017 |
Headquarter |
Seattle, WA |
Industry |
Consumer Durables |
Sales |
$130,000K at the time of the pitch |
Profitability |
Not disclosed |
Valuation |
$500,000 |
Shark on Board |
No Shark |
Asked Investment |
$625,000 for 5% |
Raised Investment |
No Investment |
Website |
https://FinalStraw.com/ |
Conclusion
The founder of FinalStraw presented an incredible pitch on Shark Tank USA. The founders proudly shared their mission and vision and discussed how they took FinalStraw off the ground with a wildly successful Kickstarter campaign that raised over $1.8 million. However, the sharks were hesitant to make an investment as they couldn’t see how they would recoup their investment. Though Kevin and Mark offered a deal, the founders were hesitant to give up that much equity so early in the business. Unfortunately, they couldn’t secure an investment and walked away without a deal. Despite this, the company has continued to thrive, with over $10 million in revenue by 2019. FinalStraw is still in business as of 2024.
Explore Shark Tank USA Season 16 Episode 06.
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