Whatever Happened To Flated After Shark Tank?

The entrepreneurial team of Monique Keefer, Dan Watts, Ryan Guay, and Ken Hoeve came together to offer a clever travel accessory alternative for outdoor lovers such as themselves. Together, they developed Flated, a lineup of inflatable automotive accessories. Their flagship product is the Air-Topper, an inflatable truck topper that customers can use to mount luggage and other supplies. Their products, designed with the same material used on paddleboards and other water sports accessories, are durable and easily transportable compared to more traditional truck add-ons available on the market. 

The crew had been working together for some time. In 2009, they worked for a paddleboard company that helped introduce the inflatable version. Despite their competitors doubting the idea, the product took off, with 90% of paddleboards sold today being inflatable. They figured that this proven technology could be applied to car accessories and began their business at the start of the COVID-19 pandemic. After going it on their own for some time, the passionate creators were ready to put their company to the ultimate test by appearing on "Shark Tank" Season 14. 

Monique Keefer, Ryan Guay, and Ken Hoeve appeared on "Shark Tank," hoping to secure an investment of $350,000 for 5% of their company. Given the relative freshness of their business, it will take a lot for the sharks to bite on their $7 million valuation. 

They present the convenience their products provide, giving customers ample storage space when needed while allowing easy methods to store them away. The sharks quickly discover how simple it is to deflate the product. While they are not the inventors of this specific technology, their patents cover their use as automotive accessories. Their $1,800 truck toppers are cheaper than the traditional fiberglass variety, which can cost at least $3,500. 

Kevin O'Leary wants to know the justification behind their valuation, as their year-to-date sales are only $277,000, with projections of $600,000 by year's end. They explain that they have a purchase order from a national retailer and have raised $500,000. O'Leary and Lori Grenier disagree with the valuation, while Robert Herjavec thinks they need to commit more time to the business, as most of them are not working there full-time. Mark Cuban suggests the team attend more direct-to-consumer events to show how their products work. 

Daymond John makes a unique deal. Instead of taking any equity, he will give them $350,000 but wants 8% of sales until he makes his money back. Afterward, the royalty goes down to 5%. After trying to negotiate, they accept his offer. Now with John's help, has the company been able to inflate its prospects?

After appearing on "Shark Tank," it wouldn't take long for Flated to start seeing some notable movement. Like many businesses featured on the show, Flated got plenty of new eyes on their company and experienced the "Shark Tank" effect. 

In an interview with Vail Daily, Ken Hoeve shared, "I've been monitoring my phone and our orders, and it has been absolutely crazy. We had 15 million people tune in to 'Shark Tank' and then about another five million who are watching it after the episode aired. We're excited to see what we can do with Daymond on board." The team took the time to introduce themselves to their new audience through a video shared across their social media. In it, viewers got to see the three members who were on "Shark Tank" and the fourth Flated partner, Dan Watts.  

While still on the set, investor Daymond John shared a video on Twitter where he demonstrated the product. The video's caption gave viewers a glimpse of what the FUBU creator envisioned for the company in the near future. "Shout out to my newest @ABCSharkTank partner @getflated!" the tweet reads. "True 'Shark Tank' fans also probably noticed the different type of deal structures we negotiated here. If there's one thing I know in business, it's licensing, and I'm looking forward to seeing how the Flated team grows." While there's no hard evidence that their deal has closed, Ryan Guay expressed that things were moving in a positive direction in a podcast interview with Joe Pardo in April. Given the unusual structure of their deal, it's likely that negations will still take some time. 

The Flated team snagged an investor on "Shark Tank," but equally important was the advice they received on the show. In particular, they took Mark Cuban's words to heart and started bringing their products to various automotive and outdoor events. They received attention at the 2023 Overland Expo PNW located in Redmond, Oregon, where they managed to stand out amongst nearly 400 other vendors. Additionally, they have popped up in various states, such as Florida, Utah, and Idaho, to present and test their products. 

They have also had some notable achievements and collaborations. Flated participated in a giveaway for various outdoor products worth $4,300 alongside brands such as Cache, PakMule, Jetboil, and more. Not long after, they were named the year's best car cargo storage product by CoPilot. They have been featured on outlets like the Truck Show Podcast, Men's Journal, Gear Patrol, and Expedition Journal. 

Flated's lineup is sold on their own website and REI.com. Additionally, their products are available in a few specialty stores in the U.S., and they have international distributors. The company remains active on social media, receiving over 5 million views on TikTok alone. They also make reels on Facebook. On YouTube, they share various tutorials and adventure vlogs. With their "Shark Tank" deal, the company is valued at around $1.3 million.

Things are moving along quite well for Flated. While the company still has some growing to do, they are already proving their viability in the market. There isn't much substantial news regarding the next steps, but the team is nevertheless predicting a promising road ahead with more of what their customers love. 

On a website blog describing their time on "Shark Tank," Ryan Guay expressed their outlook for the near future. "We've always been fans of 'Shark Tank,' so when the opportunity came to apply to be on the show, we jumped on it," he commented. "We're extremely proud of our product and brand vision, and we've spent the last year trying to keep up with demand. We expect huge growth in 2023, with more sizes and new products coming out." 

It's not hard to see how the business would predict this year to be a game-changer. With the help of Daymond John, alongside a fast-growing audience and a reputable product line, there's no end in sight for where these scrappy entrepreneurs can go in their efforts to transform the outdoor enthusiast industry.