AquaVault Shark Tank Update | AquaVault after Shark Tank
What is AquaVault?
AquaVault is a portable safe that connects to permanent things like a beach chair or a stroller and secures people’s stuff at the beach, pool, waterpark, and so on, providing holidaymakers peace of mind that their valuables are safe from theft while they go for a dip.
AquaVault was developed by Jonathan Kinas, Avin Samtani, and Rob Peck. Kinas worked in finance before launching AquaVault, Peck was the owner/CEO of Blue Rise LLC, and Samtani was a Managing Principal at Venetian Capital Partners.
Samtani is still the Chief Operating Officer of AquaVault today, while Peck is the CEO. The AquaVault is composed of tough, high-impact plastic and is large enough to store wallets, mobile phones, jewelry, and other valuables.
Who is the founder of AquaVault?
AquaVault was founded by Jonathan Kinas, Avin Samtani, and Rob Peck. Kinas worked in finance before launching AquaVault, Peck was the owner/CEO of Blue Rise LLC, and Samtani was a Managing Principal at Venetian Capital Partners.
Samtani is still the Chief Operating Officer of AquaVault today, while Peck is the CEO. While attending a friend’s wedding at a beach resort, the trio was inspired to establish AquaVault. They’d chosen to go swimming and had hidden their valuables behind their towels.
When they returned home, they realized that their valuables had been taken. When they saw there was no true answer to this prevalent problem, they decided they had to solve it themselves.
AquaVault is a lockable, solid plastic container that can carry a wallet, mobile phone, keys, and other small belongings. The lid is secured with a three-digit combination lock that installs on a pole or post with a diameter of up to two inches.
Simply secure your Aqua Vault to a bike, bike rack, or your chair to go for a swim or get something from the snack bar. Many beach hotels in Florida hire them and provide racks to safely store Aqua Vaults.
The Aqua Vault costs roughly $40, and the boys contribute a part of their proceeds to local Make-a-Wish Foundation chapters. They want their device to become standard equipment for beachgoers and holidaymakers all around the world.
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What Happened to AquaVault at Shark Tank pitch?
When Avin Samtani, Rob Peck, and Jonathan Kinas present Aqua Vault, their outdoor safe, to the Sharks in Shark Tank episode 22 seasons 6, they hope to get some funding.
Avin, Rob, and Jonathan offer $75,000 for a 12% stake in their firm, valued at $625,000.
The men explain why the AquaVault is a great beach tool and show off the product. They offer it wholesale for $22 and produce it for $10, although they have only done one tiny manufacturing run.
Mr. Wonderful states that their opponent has presented their firm to him and that he is interested in AquaVault’s business concept.
They clarify that they intend to sell to individuals directly as well as wholesale to hotels, resorts, and cruise ships.
They have made $87,000 in sales in six months and have a contract for an additional 1,000 units, bringing their total sales to over $100,000 in a year.
Robert believes that they should provide the software for free to hotels and then take a cut of the recurring income.
They claim that they were unable to do so because, as a new, unproven product, many hotels would not “open their books” to them.
Their objective is to continue selling to hotels and offer the product as an in-room purchase so that people can take it to the beach or pool.
Robert loves the concept and provides $75,000 for 25% equity shares. The boys believe that 25% equity is a little excessive; Robert is willing to wait for further proposals.
Daymond has a question: he’d want to know whether they have any other bargains except the motels they’re staying at right now.
They sold 800 units to HSN but only 200 through. The Sharks believe that online sales of 250 units are too low. Robert leaves because he doesn’t like what he’s heard.
Mr. Wonderful exclaims, “POOF,” and the trade is over. Daymond wants to know about water parks and claims to have a contract with HSN; he claims to be able to assist reduce manufacturing costs and offers $75,000 for 25% ownership shares, but he needs a response NOW.
They accept the deal from Daymond. Daymond says that they were so focused on getting the goods created that they were unable to focus on sales. They finally departed the pitch with a deal.
What Happened to AquaVault after Shark Tank?
AquaVault finalized their deal with Daymond after the program aired and three gentlemen departed the pitch with a deal, and they get an in-depth update piece in Beyond the Tank episode 203.
In season nine, episode 911, the corporation receives another upgrade. They announce their second product, the Flexsafe, in this update.
It is a slash and water resistant safe that also functions as an RFID blocker to keep credit cards secure. They’ve since released the Flexsafe small, a waterproof phone cover, and a credit card-sized phone charger.
AquaVault may be leased at over 200 hotels, including Marriott, Disney, Margaretville, Universal Orlando, Atlantis, and Hilton.
The company is still in operation as of December 2021. They sold StartEngine shares for $1,069,663 — $7 per share. The total lifetime sales amount to $10 million.
Competitors of AquaVault
The company has many competitors in the market space. These are; United Commercial Capital, Gallaway Corp., Mgm Innova Capital, Intoxicating Beauty, Pleazeme, Inspired Bronze Inc., Calonet Tech Corp., Bromley&co. and S.h.e.d. Inco.
Net Worth of AquaVault
The company was valued at $625,000 during the pitch, after the investment done by Daymond the company valued at $300,000. In 2021 the company has a net worth of around $20 million.
AquaVault FAQs
What is AquaVault?
AquaVault is a portable safe that attaches to permanent objects such as a beach chair or a stroller and protects people’s belongings at the beach, pool, waterpark, and so on, giving vacationers peace of mind that their valuables are safe from theft while they go for a swim.
Who is the founder?
The founders of AquaVault are Avin Samtani, Rob Peck, and Jonathan Kinas.
How much were asking on Shark Tank?
They were asking for $75,000 for a 12% stake of their company at valuation of $625,000.
Did they have the deal?
Yes, they have the deal with Daymond John for $75,000 for a 25% equity share in their company.
Is AquaVault still in business?
Yes, as of December 2021.
Is AquaVault a publicly listed company?
The Inventors and Pioneers of the Portable Travel Safe, best known for securing a deal with Daymond John on Shark Tank, have now announced an Online Public Offering that allows the general public to participate in AquaVault, Inc. via the equity Crowdfunding platform.
What is the value of AquaVault?
The creators were recently featured in an update on Shark Tank, where they watched them grow their sales from $87,000 to millions, with a current valuation of approximately $20 million dollars.
Is the charge card genuine?
Charge Card is compatible with both iOS and Android.
Simply keeping it in their wallet will allow users to convince their pals that they have access to some pretty great futuristic technology.
What exactly is a charging cord?
A charging cord is a smartphone or other portable device. The cable features a device connection on one end and plugs into the socket of a USB charger on the other (Mini USB, Micro USB, Apple dock connector, etc.).
Is the charge card genuine?
To everyone’s dismay, social media users have determined that the ‘charge card’ is a forgery, and here’s why. To begin with, charging the iPhone with the card is scientifically impossible.
Is AquaVault a scam?
AquaVault is not a scam; it is a real product by real people who’ve made this an actual business.
Is AquaVault any good?
It seems to be according to the users. Despite charging issues, it is one of the best portable safes in terms of features and performances.
How do I order AquaVault?
It is easy to place an order for AquaVault on the official website of Aqua Vault.
What does the AquaVault Charge Card do?
The Charge Card is a real device that can be used to charge your smartphone, tablet or other device.
What payment methods did AquaVault accept?
The AquaVault Team accepts the following payment methods: Bank Transfer (wire transfer), Credit Card, Cash on Delivery (COD) and E-Cheque.
How long does it take to receive AquaVault?
The delivery time is approximately 5-7 business days.
What is the rating of AquaVault on Amazon?
The AquaVault Charge Card was rated 4.
What is the net worth of Avin Samtani?
The Net worth of Avin Samtani is unknown.
What is the net worth of Rob Peck?
The Net worth of Rob Peck is unknown.
What is the net worth of Jonathan Kinas?
The Net worth of Jonathan Kinas is unknown.
