On the popular TV show Shark Tank, entrepreneurs have the opportunity to present their businesses to a panel of potential investors, or “sharks”. If the sharks are interested in investing, they will offer the business owner a deal. Recently, a company called Yono Clip appeared on Shark Tank and secured a deal with one of the sharks.
Since appearing on Shark Tank, Yono Clip has experienced significant growth. The company has been featured in several major publications, including Forbes and Inc. In addition, Yono Clip was recently named one of the best new products by Time Magazine.
The popularity of Yono Clip has continued to increase, and the company is now selling its products in over 20 countries around the world.
Your one-and-only choice for keeping your stuff off the ground and germ-free can be the Yono Clip startup. The Yono Clip is for you if you’ve ever winced after dropping your bag on a filthy bathroom floor. The name yon is an acronym for “you only need one”, and this product sticks to surfaces aptly [1].
But what happened to this promising startup after the show?
The Yono Clip Pitch
The DURAFLEX suction cup ensures that the clip, which comes in a variety of colors and adheres to virtually any surface, is secure. The hook on this design can support up to 15 pounds for your luggage and coats [2].
After the clip is affixed to the desired location, the user can rotate it up to 360 degrees. There is also a built-in level, so you can make sure it’s even before you leave.
Inventor and founder Julie Umstattd developed the Yono Clip after she saw a similar product being used in Europe. After doing some research, she found that there was nothing like it on the market in the United States.
The Yono Clip is a tiny suction cup with a hook. It may be affixed to various surfaces. The clip is meant to keep items like handbags, jackets, and luggage in place.
This support system is also great for people who have difficulty lifting heavy objects. The Yono Clip was designed with seniors and those with disabilities in mind.
Mackey had a bright idea for a product one night at the gym. People had to leave their gym bags, equipment, and jackets on the ground, he noticed. Bob recognized it was an excellent way to transfer all those germs onto your bag or coat, so he rapidly created the product concept and enlisted his buddies’ help.
On the other end of the line was Michael Green, who has been called “Michael Green the Scientific Machine” for his lengthy science shows at Six Flags Georgia, The Steve Harvey Foundation, and others.
The product is simple to use. It includes a DURAFLEX suction cup for greater sticking power. A carabineer clasp and retractable hook are included.
The Yono Clip was created to fill a need. There are other products like it on the market, but this one is different because of its simplicity and ease of use.
Every support system by Yono Clip is biodegradable, renewable, and carbon-neutral. It also has recycled paper packing.
They each cost $19.99. The clips come in blue, green, pink, black, white, and red colors. They’re also made in the United States.
In July of 2020, when the Covid 19 epidemic was at its peak, the men launched a successful Kickstarter campaign that raised $9,857. The money was used to create face shields for health care workers. The product is currently being sold in the United States, Canada, Europe, and Australia.
Fortunately, Yono Clip was a fantastic product with a fantastic sales pitch. Bob and Michael ensured that they found the correct balance between humor and professionalism while requesting $150,000 in exchange for 15% of their firm. From the time they began speaking, the Sharks paid attention to what they had to say.
Nevertheless, when the topic turned to numbers, it became apparent that Yono Clip hasn’t generated as much money as the Sharks had hoped. In the end, they were unable to reach a deal.
It’s been two years since Yono Clip was on Shark Tank. The product is doing well and can be found in stores across the country. The company has also expanded its product line to include face shields and other safety gear.
Yono Clip is currently available for purchase on their website and on Amazon.com.
The Sharks had sold roughly $14,000 in merchandise and that wasn’t going to cut it for the majority of them. In addition, the firm was still relatively new, with Bob and Michael continuing to manufacture goods in their garage. The Sharks began to withdraw one by one.
Bob and Michael were both shocked when Joe countered with a request to reduce the price to $20. The Sharks immediately jumped in to caution them that they were placing themselves in a position to miss out on a fantastic opportunity. They gratefully accepted the offer.
What Happened to Yono Clip After Shark Tank?
The Yono Clip’s creators, Mr. Green and Mr. Mackey are still active. Bob Mackey was the CEO of the North Central Georgia Boys & Girls Clubs. Green, on the other hand, was well-known for delivering scientific lectures at several locations around the world.
The two entrepreneurs had a difficult time getting their products off the ground. After appearing on Shark Tank, they finally secured a deal with one of the sharks and were able to get their business up and running.
The scientist, in contrast, was recognized for giving lectures on science in a variety of locations. Green is still an active entrepreneur today and serves as Science Is for Everyone’s president [4].
The Yono Clip has received overwhelmingly positive reviews since appearing on Shark Tank. Many people say that the clip is very easy to use and that it works great. There have also been a few negative reviews, but most people seem to be very happy with the product.
If you’re looking for an easy way to keep your bag off the ground and germ-free, the Yono Clip is a great option. The clip is also very affordable, making it a great choice for budget-minded shoppers. Whether you’re at the gym or traveling, the Yono Clip is a great way to keep your belongings clean and safe.
Who Are the Competitors of Yono Clip?
The Yono Clip’s main competitors are the S-hooks and the C-hooks. The S-hook is a tiny suction cup with a hook that may be fastened to any surface. The C-hook is also a small suction cup with a hook that can be attached to any surface. The capacity of this apparatus is 30 pounds when attached to a hard surface.
The Net Worth of Yono Clip
Daymond and the rest of his crew invested $1 million in the company, after which it was valued at $500,000. Since then, the firm has continued to operate and its net value may have grown [5].
The Future of Yono Clip
Yono Clip has the potential to grow into a very successful business. The company has already secured a deal with one of the sharks and is now up and running. With the continued support of its investors, Yono Clip should be able to expand its operations and reach new heights.
FAQ
Is Yono Clip still in business?
Yes, Yono Clip is still in business. The company was able to secure a deal with one of the sharks on Shark Tank and has been up and running since then.
How much was the valuation on Shark Tank?
The Sharks will often confirm that the firm is worth $1 million in sales. That figure was arrived at because if 10% ownership equals $100,000, it implies that one-tenth of the business is $100,000, and therefore ten-tenths (or 100%) of the company is also $1 million. The valuation of Yono Clip on Shark Tank was $500,000 [6].
What are the Yono Clip products?
The Yono Clip is a small suction cup with a hook that can be attached to any surface. The clip is designed to hold onto objects such as bags, coats, and luggage. The Yono Clip’s main competitors are the S-hooks and the C-hooks.
How does Yono Clip work?
To use the Yono Clip, simply attach the suction cup to any desired surface. Make sure that the area around the suction cup is clean and free of dirt or debris. Next, take the object that you wish to secure and hook it onto the Yono Clip. The object should now be securely fastened to the chosen surface.
Who are the distributors of Yono Clip?
The Yono Clip, which was created by Daymond John and is available on Amazon and the company’s website now, is currently accessible to buy [7].
How do you contact this company?
The best way to reach the owners of the company is through their website’s contact form.
Where is Yono Clip located?
The Yono Clip is located in the United States. If you have any questions about the product or would like to order a Yono Clip, you can visit their website at yonoclip.com or contact them via email at info@yonoclip.com.
How do you use a Yono clip?
Yono is a game changer because it helps clean the germs off the bags that we typically carry around with us everywhere we go. We take our bags and put them on the floor in airport terminals, gyms, busses, classrooms, workplaces, restrooms, and restaurants. Then we bring these same contaminated bags home and plop them down onto surfaces like our kitchen countertops or sofas. The same goes for laptop cases, gym bags, and purses.
Essentially, what this means is that without taking proper precautions bacterial contamination from mudrooms to bedrooms has become much easier.
Bob Mackey was working out at his gym when he saw how cluttered it looked with bags everywhere, which is when he got the idea for the Yono Clip. He sketched some ideas on napkins and sent them to his engineering friend for help with the design. After he came up with a good design, Bob posted it on Facebook to get people’s reactions.
The suction and cover of the Yono Clip will ease after one initial use. It may require more force to remove it from your carabiner clip the second time around. Do not apply any more than 12 pounds of weight to the center lever or clip.
To use the Yono Clip, attach it to a clean surface such as a bathroom or kitchen sink. Then, open up your bag and clip the suction part onto one side of the bag’s exterior (the side without any zippers or pockets). Close the bag and press down on the center lever until it clicks in place, ensuring that there is a tight seal.
The Yono Clip can hold on to surfaces for different lengths of time, depending on the surface. If you want to renew suction, clean it with cold water and let it dry. You should not sit or lay under the Yono Clip while there are items hanging from it in use. Also, do not use the Yono Clip Cover until after using the clip 4 to 5 times.
To put it plainly, all you have to do is press, pull and hang.
How is the Yono clip doing now?
The two founders receive an offer from Daymond at $150,000 for 30% of the company. They counter with an offer of 150,000 for 20% and eventually agree to the original offer.
As a result, they walk out of the shark tank with an investment from Daymond worth $150,000 for 30% equity in their company.
After selling the company to Daymond on Shark Tank, the company has been doing very well for itself. They are now selling the product for $19.99 on their website and Amazon and production has increased since then resulting in more sales.
The company thanked Daymond for all his help in the retail and online space on its Facebook page. They wished him a happy birthday too.
Regrettably, it’s difficult to discern how well Yono Clip has been performing since appearing on “Shark Tank”. The company’s Instagram only has 2,000 followers with no posts since July. Similar inactivity appears across the business’ other social media platforms as well.
The product is additionally only obtainable for purchase on the company website. Yono Clip’s site also contains a notice informing customers of the 30-day (or longer) delay on orders. This could potentially signal a struggle with meeting the high demand for the product.
Despite this, it seems as though Yono Clip has been able to maintain itself in the market and continue providing its valuable solution to a problem that plagues many people’s daily lives.
What did the sharks think of the Yono сlip?
After Bob and his business partner Michael Green created the Yono Clip, they took it to Shark Tank in hopes of landing a $150,000 investment from the Sharks in exchange for a 15% stake in their company. The entrepreneurs didn’t need much convincing; the Sharks were impressed when they found out that the Yono Clip reached its crowdfunding goal of $10,000 within 24 hours.
The entrepreneurs gave a very passionate presentation that got the Sharks up and dancing. But when they started talking about business, several of the investors were turned off by how impractical the product was and decided not to invest.
After some scrutiny, the two entrepreneurs decided to accept Daymond John’s offer of investing the amount they asked for in exchange for a higher, 30% stake in their company.
What are the advantages of the Yono clip?
The Yono Clip was designed for people who want to keep their belongings clean and within sight. With this clip, you can hang your jackets and bags in public places, so they don’t have to touch dirty floors. It’s also a great way to keep track of your things.
The Yono Clip is made from durable materials and has a firm grip, making it easy to hang on any surface. Its compact size allows for easy storage and portability.
The Yono Clip was created with the belief that small solutions can change day-to-day life for the better. With this product, you’ll be more organized and have less stress in your everyday routine.
What are the disadvantages of the Yono clip?
One downside might be that it doesn’t have enough suction power to hold certain heavy items. The Yono Clip also may not adhere to some surfaces, like those with an uneven or bumpy texture. And because it’s small, you could easily lose track of it. So while overall this method may not always be reliable, decide for yourself whether the pros outweigh the cons.
Additionally, some users have mentioned that the clip can leave marks on certain materials, so it may be important to use it with caution. And because it’s a small and specific solution, it may not seem worth the cost for some people. Another potential drawback is that it only hangs one item at a time, so it might not be suitable for those wanting to hang multiple items or larger items.
Overall, as with any product, there are pros and cons to using the Yono Clip. It ultimately comes down to personal preference and determining whether its benefits outweigh its limitations for your particular needs.
Would you recommend the Yono clip to others?
It all relies on the person’s needs and wants. If they are constantly having to put their stuff away from dirty surfaces, then Yono Clip could possibly help them. But if they would rather have something more dependable or diverse, another product might work better for them.
With Yono Clip, you no longer have to worry about your things getting dirty or lost. Just attach it to any flat surface – walls, desks, tables – and your belongings will be close by and off the ground. It doesn’t matter what angle the surfaces are at either; Yono Clip can stick to them all effortlessly!
It might be a decent option to explore, although more information about the person’s specific situation is needed before making a definitive recommendation.
Useful Video: Shark Tank US | Yono Clip Entrepreneurs Impress Daymond John
References:
- https://biznewske.com/yono-clip-shark-tank-update/
- https://biznewske.com/yono-clip-shark-tank-update/
- https://tvovermind.com/whatever-happened-to-yono-clip-after-shark-tank/
- https://sharktanktalks.com/yono-clip-shark-tank-update/
- https://biznewske.com/yono-clip-shark-tank-update/
- https://www.investopedia.com/articles/company-insights/092116/how-business-valued-shark-tank.asp
- https://sharktanktales.com/yono-clip-shark-tank-update/