Shark Tank: Flipstik Accepts $100,000 From Lori Greiner

After spending his professional career in the mobile space, Akeem Shannon, developed Flipstik, an adhesive that can be placed on the back of any mobile device to allow it to adhere to a variety of surfaces. This paper-thin backing allows mobile devices to stick to any flat surface such as glass, tile, metal, etc. Designed to work like the foot of a gecko, this NASA developed adhesive will stick until you give it a slight twist to release the adhesive. To revitalize it, simply wash the adhesive to prepare it for its next stick.

Although the material itself can not be patented by Flipstik, Akeem does have a utility patent for a double-sided adhesive on a phone with a flip cover. The Sharks are impressed that he has taken his technical knowledge from his time working in sales at Sprint and Verizon as well as his business and marketing experience with Square and combined these into a successful company. Cumulatively, Flipstik has brought in $115,000 in sales over the last two and a half years and has excellent sales margins. Although this doesn’t seem like a significant sales volume, 60% of their business is retail sales which were eliminated during the Covid-19 pandemic.

His energy is contagious! The best salespeople always have high energy. @ABCSharkTank #SharkTank @getflipstik https://t.co/E6x7w0RqUv

— Barbara Corcoran (@BarbaraCorcoran) November 7, 2020

Flipstik is seeking a $100,000 investment from a Shark in exchange for a 20% equity share. Kevin O’Leary offered Akeem exactly what he was asking for, however when he doesn’t immediately take his offer, Kevin withdraws. Lori Greiner shares that she feels that he needs to give people a visual of what the product is and how to use it. Because Lori has been working to give people quick visuals of what products are and what they do for the last 20 years, she feels that she is the perfect partner for Flipstik. Lori offers to invest $100,000 for 25% equity. Although Mark Cuban is also considering investing, Akeem accepts Lori’s offer before she pulls her offer as Kevin did.

Would you have invested in Flipstik if you were a Shark? Do you think that Akeem should have accepted Kevin’s offer? Which of the Sharks do you feel would be the best partner for Flipstik? Start the conversation in the comments below!