Co.ALITION Net Worth 2023 | CO.ALITION Shark Tank Updates
What is CO.ALITION?
CO.ALITION is a brand that is being marketed to urban and tech-savvy consumers. The company is run by Casey Lorenzen and Jeff Popp, who are based in Denver. They have started a new company for their technology-infused bags. They have made a lot of money from their venture.
Who is the founder of CO.ALITION?
Casey Lorenzen and Jeff Popp are the founders of CO. ALITION, a Denver-based backpack brand that specializes in bags made of tough, water-resistant materials and include built-in cables for storing and charging electrical items.
They turned to Kickstarter three times to fund their venture, with their first campaign in June 2014 being unsuccessful. However, they were able to raise over $50,000 in the fall of 2014.
Their second campaign, in fall of 2015, was used as a “pre-order” mechanism for a new pack called the COLFAX, which featured a built-in power supply and hard drive.
These backpacks are not inexpensive, with prices ranging from $179 to $479 depending on the model and features selected. They are targeted towards the urban gadget and tech enthusiast who wants to keep their equipment secure and stylish.
What Happened to CO.ALITION at Shark Tank pitch?
In Shark Tank episode 716, Jeff Popp and Casey Lorenzen pitched CO.ALITION, a line of smart, urban backpacks, to the Sharks. They were seeking $200,000 for a 20% stake in their company, which they valued at $1 million.
They explained that their bags are both smart and stylish, and can be charged by plugging them into a wall. They revealed that they had started the company 7 months ago and sold 500 bags, with profit margins ranging from 50% to 70%.
They also stated their goal of becoming a worldwide brand. However, the Sharks were not impressed, citing that the bags were not proprietary and overpriced. Mark and Robert both believed that CO.ALITION should be developed as a product within MHM, and both dropped out
. Kevin suggested a chance to re-boot the offer before dismissing them. Lori believed the bags were overpriced and left, and Kevin also left, saying anyone can create the bag.
Daymond understood what they were doing but didn’t believe they were there yet and also dropped out. In the end, the founders walked away from the pitch without a deal.
What Happened to CO.ALITION after Shark Tank?
After appearing on Shark Tank, Jeff Popp and Casey Lorenzen continued to run CO.ALITION with the help of their already-established MHM company.
Their website and social media pages are still active, indicating that they are still selling their bags. The company may not have taken off as they had hoped, but their appearance on Shark Tank may have temporarily boosted sales.
They were able to get the bags into REI stores and the option to customize the bags added to their appeal. However, despite the high cost of the bags, the company closed its doors in August 2017.
The long-term success of the company is uncertain, and the Shark Tank effect on the company’s performance is yet to be seen.
CO.ALITION Net Worth
The net worth of CO.ALITION is not publicly available as the company is no longer in business. At the time of their Shark Tank pitch, the company was valued at $1 million, but after the company closed its doors in August 2017, its net worth cannot be determined.
What is CO.ALITION?
CO.ALITION is a new, distinct brand that caters to urban, tech-savvy consumers. CO.ALITION is being dubbed the “evolution of carry.”
Who is the founder of CO.ALITION?
Casey Lorenzen and Jeff Popp are the founders of CO. ALITION, a Denver-based backpack brand. Three times, the couple turned to Kickstarter to get CO. ALITION off the ground.
How much were they seeking on Shark Tank?
They were seeking for $200,000 for a 20% stake in their CO.ALITION, which was worth $1 million.
How much did they make from Shark Tank?
They did not make a deal with any of the Sharks and went home empty handed.
Is CO.ALITION still in business?
CO.ALITION has been out of business since August 2017.
Where was CO.ALITION located?
CO.ALITION is based out of Denver, Colorado.
Does CO.ALITION sell on Amazon?
No, as of 2017, CO.ALITION can no longer be purchased on Amazon.
Did CO.ALITION work?
Yes, as of August 2017, CO.ALITION is no longer in business.
What was the revenue of CO.ALITION?
The revenue was not disclosed.
What is CO.ALITION patent pending?
No, no patent has been filed.
Where can you find CO.ALITION?
Co.ALITION products are available in a few stores in the US and on their website, http://www.co-alition.com.
How was the business model of CO.ALITION?
Co.ALITION is a new brand that caters to urban, tech-savvy consumers. CO. ALITION uses technology to provide its users with an adaptable, modular and sustainable backpack.
What is the warranty CO.ALITION?
The warranty is not mentioned on their website.
What network did CO.ALITION use to make payments?
CO.ALITION used PayPal to make payments.
What segment of the market was CO.ALITION targeting?
They were targeting urban and tech-savvy consumers.
Who were the competitors of CO.ALITION?
There are no competitors for this company as it has gone out of business in August 2017.
Was CO.ALITION shipping?
Yes, CO. ALITION shipped goods throughout the US.
Where did CO.ALITION sell their products?
- ALITION sold its products to retailers such as Apple and REI in the US and international customers.
How many years did CO.ALITION last?
- ALITION lasted for about three years (August 2017).
Does CO.ALITION still have social media accounts?
Yes, CO/ALITION has a Facebook page, a Twitter, and a YouTube channel.
What was CO.ALITION return policy?
No, CO. ALITION did not have a return policy.
How did the products of CO.ALITION work?
CO.ALITION products worked by using technology to provide its users with an adaptable, modular and sustainable backpack.
What industry did CO.ALITION operate in?
CO.ALITION operated in the consumer electronics industry.
What was CO.ALITION delivery?
CO.ALITION delivered goods to customers all over the world via Amazon and major retailers.
What is the net worth of Jeff Popp?
Jeff Popp’s net worth is estimated at $200,000.
What is the net worth of Casey Lorenzen?
Casey Lorenzen’s net worth is not disclosed.