Flip Outz Shark Tank Founder, Net Worth and Investment
Flip Outz, the creative and interactive accessory for children, made its debut on the hit TV show Shark Tank in Season 2. Developed by the Johnson family, Flip Outz offers a unique platform for kids to express their individuality and create connections with others. With its silicone wristbands and customizable flipoutz coins, this product encourages creativity, personal expression, and social interaction.
Flip Outz allows children to personalize their bracelets by inserting special coins with various designs. Each coin has a unique code, enabling kids to track their coins’ travels online and connect with new friends. This innovative combination of physical play and digital interaction has captured the hearts of children and parents alike.
Appearing on Shark Tank, Flip Outz sought an investment of $100,000 in exchange for a 20% stake, valuing the company at $500,000. Despite concerns raised by the sharks, Daymond John recognized the potential of the idea and offered $100,000 for a 33% stake. The Johnson family accepted the deal, paving the way for Flip Outz’s post-Shark Tank success.
Key Takeaways:
- Flip Outz is an interactive accessory that allows children to express their individuality and connect with others.
- The product features customizable silicone wristbands and special coins that can be tracked online.
- On Shark Tank, Flip Outz secured an investment deal with Daymond John for $100,000 and a 33% stake in the company.
- After their appearance on Shark Tank, Flip Outz experienced a surge in sales and expanded their distribution.
- The Johnson family later sold Flip Outz but the product is still available on Amazon.
What is Flip Outz?
Flip Outz is a brand that offers interactive jewelry designed specifically for children. At the heart of the Flip Outz concept are colorful silicone wristbands that can hold up to five unique coins, known as flipoutz coins. These coins are interchangeable and can be purchased separately, allowing children to customize their bracelets according to their preferences.
Each flipoutz coin features a special design or character and has a unique code. This code enables children to track the journey of their coins online as they trade and give them away to friends. The online tracking feature adds an exciting digital component to the physical play of Flip Outz, fostering creativity, personal expression, and social interaction among children.
The Flip Outz website complements the jewelry by providing a variety of engaging activities for children. Games, virtual coin exchanges, and interactive experiences are all available online, enhancing the overall Flip Outz experience for kids.
The Founding of Flip Outz
Flip Outz was brought to life by the Johnson family, consisting of siblings Jake, Lachlan, and Erin. The creative idea for this unique product emerged during a casual dinner table conversation. Fueled by their shared passion for encouraging social interaction and creativity among children, the Johnsons embarked on a journey to turn their concept into a marketable product.
The dynamic brainstorming session sparked their imaginations, and they soon realized they had stumbled upon something special. With the unwavering support of their parents, the Johnsons channeled their creativity into the development of Flip Outz, an innovative accessory that would captivate children and foster meaningful connections.
Although the precise professional backgrounds of their parents are not mentioned, their role in nurturing their children’s inventiveness cannot be overlooked. The Johnson parents played an instrumental part in transforming the siblings’ idea into a tangible, marketable product.
Their collective efforts paid off, as Flip Outz emerged as a brand that offers children a platform for self-expression and interaction. The Johnson family’s commitment to fostering creativity and creating a marketable product has left a lasting impact on the world of children’s accessories.
“We wanted to develop a product that would not only capture children’s imagination but would also bring them together. Flip Outz was our way of creating something fun and interactive, something that would resonate with children and encourage social interaction.” – Jake Johnson
This commitment to fostering creativity and connection has set the foundation for Flip Outz’s success.
Meeting of Creative Minds
The Johnson siblings first conceived the idea for Flip Outz during a casual dinner table conversation, where their minds converged in a flurry of excitement and possibility. The dinner table became a breeding ground for innovation, and the Johnsons seized the opportunity to create something extraordinary.
Transforming Ideas into Reality
With supportive parents cheering them on, the Johnson siblings meticulously transformed their concept into a bona fide marketable product. They devoted countless hours to perfecting the design and functionality of Flip Outz, ensuring it would captivate children’s imaginations and offer a compelling interactive experience.
A Family Venture
The founding of Flip Outz was a true family venture, with each member of the Johnson family playing a vital role in its inception. Together, they harnessed their collective creativity and entrepreneurial spirit to bring Flip Outz to life, establishing a brand that continues to inspire and engage children worldwide.
Flip Outz on Shark Tank
The Johnson family brought their innovative product, Flip Outz, to the Shark Tank in Season 2. They were seeking a $100,000 investment in exchange for a 20% stake in the company, valuing Flip Outz at $500,000. During their pitch, they highlighted the interactive nature of the product and the unique online tracking feature.
The sharks had their concerns about Flip Outz. They questioned the practicality of the tracking system and expressed worries about children losing interest over time. However, Daymond John saw the potential in the concept and engaged in negotiations with the Johnson family.
“I think there’s something there,” Daymond John said. “I’m willing to offer you $100,000 for a 33% stake in Flip Outz.”
After some negotiation, the Johnson family accepted the offer from Daymond John. They secured the investment deal, giving Daymond John a larger stake in the company, but also gaining a renowned partner who believed in the potential of Flip Outz.
Flip Outz on Shark Tank showcased the product’s unique features, highlighted the investment ask, addressed the sharks’ concerns, and ultimately resulted in a successful negotiation and investment deal.
Investment Deal on Shark Tank
| Investor | Investment Amount | Stake |
|---|---|---|
| Daymond John | $100,000 | 33% |
Flip Outz Post-Shark Tank Success
Following its appearance on Shark Tank, Flip Outz experienced a remarkable surge in sales, propelled by the show’s exposure and the investment from the Sharks. The success on Shark Tank allowed Flip Outz to expand its operations, increase production, and secure distribution in prominent toy stores, including Toys R Us and Hallmark retail stores.
The online engagement component of Flip Outz also flourished, with a growing number of kids actively tracking their coins and interacting with the Flip Outz website. This online platform proved to be instrumental in fostering a vibrant community and encouraging social interactions among young users.
In 2013, the Johnson family made an important strategic decision and sold the Flip Outz business to Wild Craze Inc., a company committed to expanding its portfolio of innovative children’s products. This acquisition allowed for the continued availability of Flip Outz on platforms like Amazon, ensuring that children across the country can still enjoy the creative and interactive experience it offers.
Furthermore, the founders, Lachlan Johnson and his younger brother, went on to launch a new business venture known as Beaux Up. Building upon their entrepreneurial journey with Flip Outz, Beaux Up is focused on men’s fashion, showcasing the Johnson brothers’ versatility and adaptability in multiple industries.
| Sales Surge | Increased Distribution | Online Engagement | Acquisition | Availability | Beaux Up Launch |
|---|---|---|---|---|---|
| The exposure on Shark Tank led to a significant boost in sales for Flip Outz. | The company expanded its operations and secured distribution in major toy stores. | The online component of Flip Outz gained traction, with more kids engaging with the platform. | The Johnsons sold Flip Outz to Wild Craze Inc., ensuring its continued availability. | Flip Outz products are still available on Amazon, offering nationwide accessibility. | The founders launched Beaux Up, a new business venture in men’s fashion. |
Flip Outz Concept and Features
Flip Outz offers an exciting and customizable jewelry experience for children, combining vibrant designs with interactive features. With Flip Outz, children can personalize their bracelets by swapping out different coins, each showcasing a unique design or character. This allows them to express their individual interests and personalities.
One of the standout features of Flip Outz is its online tracking system. As children trade and interact with friends, they can see where their coins have traveled virtually. This adds an element of excitement and curiosity, as they can follow the journeys of their coins on the interactive platform.
Flip Outz takes customization a step further by providing an online platform where children can unleash their creativity. They can create profiles, play online games, and even design their own coins. This interactive experience encourages engagement and imagination, making Flip Outz more than just a piece of jewelry.
The colorful designs, coin swapping feature, and online tracking system make Flip Outz a truly unique and interactive accessory for kids. It not only allows them to express their personal style but also fosters social connections and imaginative play.
Flip Outz Key Features:
- Customizable jewelry with interchangeable coins
- Online tracking system to follow the journey of coins
- Colorful and vibrant designs for individual expression
- Interactive platform for creating profiles and designing coins
Flip Outz Founders’ Success Story
The entrepreneurial journey of the Johnson siblings, particularly Jake and Lachlan, is a true success story that emerged from their appearance on Shark Tank with Flip Outz. The siblings demonstrated their entrepreneurial spirit and ability to innovate in different industries, paving the way for their success after Flip Outz.
Transition to Men’s Fashion: Beaux Up
Following their experience with Flip Outz, Jake and Lachlan Johnson ventured into the world of men’s fashion with their new business called Beaux Up. This transition showcased their versatility as entrepreneurs and their commitment to exploring new opportunities.
Beaux Up is a men’s fashion brand that offers stylish and high-quality clothing and accessories. With their keen eye for design and understanding of the modern man’s fashion needs, Jake and Lachlan have crafted a brand that resonates with the contemporary fashion-conscious consumer. Their attention to detail and commitment to providing exceptional products have contributed to their success in the competitive fashion industry.
The Johnson Brothers’ Resilience and Drive
While specific details about their success after Flip Outz are not provided, one can’t deny the power of the Johnson brothers’ resilience and drive. Their ability to transition from one industry to another showcases their adaptability and determination to succeed.
“Entrepreneurship is all about finding opportunities and embracing them. Jake and Lachlan Johnson’s journey from Flip Outz to Beaux Up exemplify the entrepreneurial mindset—always ready to pivot, learn, and grow.”
With their strong work ethic and innovative mindset, Jake and Lachlan continue to make waves in their entrepreneurial endeavors, taking on new challenges and creating successful ventures.
Stay tuned to see what exciting opportunities the Johnson brothers will take on next as they continue their entrepreneurial journey!
Richest Sharks on Shark Tank
Shark Tank, the popular reality TV show, has featured a lineup of wealthy investors who have amassed significant fortunes through their successful business ventures. Let’s take a look at some of the richest Shark Tank investors:
These sharks have not only made a name for themselves on Shark Tank but have also proven their business acumen by amassing substantial wealth through their investments.
*Please note that the net worth figures mentioned are estimated and subject to change based on various sources and market fluctuations.
Guest Sharks and Their Net Worth
Shark Tank, the popular TV show, has not only featured the iconic sharks who have accumulated wealth through their business ventures, but it has also welcomed guest sharks who have made significant contributions to the show. Among them is Nirav Tolia, the co-founder of Nextdoor, who boasts a net worth of over $50 million. Actor and comedian Kevin Hart, known for his wit and humor, has made guest appearances on the show and amassed a net worth of $200 million.
Ashton Kutcher, famous for his investments in companies like Uber and Airbnb, has also appeared as a guest shark. With a net worth of $200 million, his expertise in the tech industry has brought great value to the entrepreneurs seeking investment opportunities on the show. Another remarkable guest shark is Anne Wojcicki, the co-founder and CEO of 23andMe, a company dedicated to providing genetic testing services. Her net worth stands at an impressive $500 million.
Sara Blakely, the founder of Spanx, an enormously successful shapewear company, is another esteemed guest shark on Shark Tank. With a net worth of $1 billion, she brings her entrepreneurial expertise to the table, offering valuable insights and guidance to budding entrepreneurs. These guest sharks have brought their immense wealth, business acumen, and unique perspectives to the show, serving as mentors and making significant investments that have propelled many businesses to new heights.
FAQ
What is Flip Outz?
Flip Outz is a brand that features interactive jewelry designed particularly for children. The main product is a bracelet that can hold up to five coins, which are interchangeable and can be purchased separately. Each coin has a unique code that allows children to track its journey online as they trade and give it away to friends.
Who are the founders of Flip Outz?
Flip Outz was created by the Johnson family, consisting of siblings Jake, Lachlan, and Erin, who brainstormed the idea during a dinner table conversation. They turned their idea into a marketable product with the support of their parents.
How did Flip Outz fare on Shark Tank?
The Johnson family appeared on Shark Tank in Season 2 and pitched their idea, seeking a 0,000 investment in exchange for a 20% stake in Flip Outz. After some negotiation, they accepted an offer from Daymond John to invest 0,000 for a 33% stake in the company.
What happened to Flip Outz after appearing on Shark Tank?
After appearing on Shark Tank, Flip Outz experienced a significant boost in sales. They expanded their operations, increased production, and secured shelf space in large toy stores. In 2013, the Johnsons sold Flip Outz to Wild Craze Inc., but the product is still available on Amazon.
What features does Flip Outz have?
Flip Outz allows children to customize their bracelets by switching out different coins. Each coin features a different design or character, allowing children to express their unique interests and personalities. The online tracking feature allows kids to see where their coins have traveled as they trade and interact with friends. The Flip Outz website also provides an interactive platform where children can create profiles, play online games, and even design their own coins.
What is the success story of the Flip Outz founders?
Jake and Lachlan Johnson, the founders of Flip Outz, have demonstrated their entrepreneurial spirit and ability to innovate in different industries. After the success of Flip Outz, they ventured into the world of men’s fashion with their new business called Beaux Up.
Who are the richest investors on Shark Tank?
Some of the richest investors on Shark Tank include Mark Cuban, with a net worth of .3 billion, Kevin Harrington with a net worth of 0 million, Kevin O’Leary with a net worth of 0 million, Daymond John with a net worth of 0 million, Robert Herjavec with a net worth of 0 million, Lori Greiner with a net worth of 0 million, and Barbara Corcoran with a net worth of 0 million.
Who are some notable guest sharks on Shark Tank?
Some notable guest sharks on Shark Tank include Nirav Tolia, co-founder of Nextdoor, with a net worth of over million, Kevin Hart, an actor and comedian with a net worth of 0 million, Ashton Kutcher, known for his investments in companies like Uber and Airbnb, with a net worth of 0 million, Anne Wojcicki, co-founder and CEO of 23andMe, with a net worth of 0 million, and Sara Blakely, founder of Spanx, with a net worth of
FAQ
What is Flip Outz?
Flip Outz is a brand that features interactive jewelry designed particularly for children. The main product is a bracelet that can hold up to five coins, which are interchangeable and can be purchased separately. Each coin has a unique code that allows children to track its journey online as they trade and give it away to friends.
Who are the founders of Flip Outz?
Flip Outz was created by the Johnson family, consisting of siblings Jake, Lachlan, and Erin, who brainstormed the idea during a dinner table conversation. They turned their idea into a marketable product with the support of their parents.
How did Flip Outz fare on Shark Tank?
The Johnson family appeared on Shark Tank in Season 2 and pitched their idea, seeking a $100,000 investment in exchange for a 20% stake in Flip Outz. After some negotiation, they accepted an offer from Daymond John to invest $100,000 for a 33% stake in the company.
What happened to Flip Outz after appearing on Shark Tank?
After appearing on Shark Tank, Flip Outz experienced a significant boost in sales. They expanded their operations, increased production, and secured shelf space in large toy stores. In 2013, the Johnsons sold Flip Outz to Wild Craze Inc., but the product is still available on Amazon.
What features does Flip Outz have?
Flip Outz allows children to customize their bracelets by switching out different coins. Each coin features a different design or character, allowing children to express their unique interests and personalities. The online tracking feature allows kids to see where their coins have traveled as they trade and interact with friends. The Flip Outz website also provides an interactive platform where children can create profiles, play online games, and even design their own coins.
What is the success story of the Flip Outz founders?
Jake and Lachlan Johnson, the founders of Flip Outz, have demonstrated their entrepreneurial spirit and ability to innovate in different industries. After the success of Flip Outz, they ventured into the world of men’s fashion with their new business called Beaux Up.
Who are the richest investors on Shark Tank?
Some of the richest investors on Shark Tank include Mark Cuban, with a net worth of $4.3 billion, Kevin Harrington with a net worth of $450 million, Kevin O’Leary with a net worth of $400 million, Daymond John with a net worth of $350 million, Robert Herjavec with a net worth of $200 million, Lori Greiner with a net worth of $150 million, and Barbara Corcoran with a net worth of $100 million.
Who are some notable guest sharks on Shark Tank?
Some notable guest sharks on Shark Tank include Nirav Tolia, co-founder of Nextdoor, with a net worth of over $50 million, Kevin Hart, an actor and comedian with a net worth of $200 million, Ashton Kutcher, known for his investments in companies like Uber and Airbnb, with a net worth of $200 million, Anne Wojcicki, co-founder and CEO of 23andMe, with a net worth of $500 million, and Sara Blakely, founder of Spanx, with a net worth of $1 billion.
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