Drop Stop Shark Tank Net Worth 2023
About Drop Stop
Drop Stop is a trademarked device that keeps objects from dropping between the front seats and the center console of an automobile.
It is a device that stops items, including mobile phones and coins, from falling into the abyss between the car seat and the center console.
Drop Stop was founded by Marc Newburger and Jeffrey Simon of Los Angeles.
This device is about 17 inches long and made of black Neoprene filled with polyester fiberfill.
The seat belt clasp may be slid via a slot sewed into it. This secures the device while enabling the vehicle seat to move freely back and forth.
According to Newburger and Simon, the region between the center console and the front seats is always in dark shadow, therefore Drop Stop’s black hue complements any car’s interior.
Drop Stop should fit as long as the distance between the center console and the seat is less than 3.5 inches.
However, some vehicles, such as the BMW M3 and Volkswagen Jetta, lack sufficient gap space to accommodate the Drop Stop.
Newburger got the idea after dropping his phone down the gap while driving and nearly causing a catastrophic accident trying to collect it.
Drop Stop was featured on The Marilyn Denis Show’s “The Best as Seen on TV Products” segment, as well as ABC the View and Shark Tank.
How Does Drop Stop Work
Drop Stop is a product that prevents items, like phones and coins, from falling into the gap between a car’s front seats and center console.
The device, which is trademarked, is 17 inches long and made of black Neoprene material filled with polyester fiberfill. It can be secured to the seat belt clasp via a slot, allowing the seat to move freely.
The founders, Marc Newburger and Jeffrey Simon, based in Los Angeles, designed it to complement any car’s interior, as the gap between the console and seats is often in shadow.
However, the product may not be suitable for some vehicle models, like the BMW M3 and Volkswagen Jetta, that have less than 3.5 inches of gap space.
The idea for the product came about after Newburger almost caused a crash retrieving a dropped phone from the gap. It has been featured on various TV shows, such as The Marilyn Denis Show, The View and Shark Tank.
What Happened To Drop Stop after Shark Tank
Lori Greiner invested in the device with the inventors, Newburger and Simon, during the special Shark Tank episode that aired on March 29, 2013.
She negotiated a deal with Greiner for 20 percent ownership in Drop Stop in exchange for $300,000.That is a Drop Stop valuation of $1.5million dollars net worth.
In March 2013, Lori Greiner invested in the device called Drop Stop with its inventors, Newburger and Simon, during an episode of Shark Tank.
In exchange for 20% ownership in the company, Greiner provided $300,000, valuing the company at $1.5 million.
On a follow-up episode of Shark Tank that aired in November 2013, it was announced that Drop Stop had secured a $2 million purchase order from Walmart.
As of December 2017, the company had sold 2.4 million units and generated $24 million in revenue. On a 2014 episode of The Queen Latifah Show, Newburger and Simon were recognized for their innovation and were referred to as “some of Lori’s most successful inventors.”
Subsequently, in December 2014, Drop Stop was featured in a Lori Greiner Shark Tank-branded display in Bed Bath & Beyond.
Drop Stop was later acknowledged as one of the most successful companies to have appeared on Shark Tank in February 2015.
In a episode of Shark Tank that aired in January 2018, it was reported that the Los Angeles Police Department had conducted a 3-month test of Drop Stop in which no traffic-related incidents occurred.
As a result of this, the police department decided to equip 3,000 vehicles with Drop Stops.
How Does Drop Stop Work
Drop Stop is a patented product that fills the gap between your vehicle or truck seat and center console, eliminating both discomfort and hazards.
It attaches to the seat belt catch through a built-in slot and moves with the seat, so there’s no need for readjustment or reinstallation.
Each bundle includes one Drop Stop for the driver side and one for the passenger side, with a universal fit. In addition, you’ll receive a Slide Free Pad and an LED Credit Card Light as bonuses.
The high-grade neoprene material allows the product to adjust to any gap size and the black color makes it blend in with any interior.
Drop Stop Shark Tank Deal
The company reached an agreement with the Sharks, enabling them to continue with their business operations. The Shark Lori invested $300,000 for a 20% ownership in the company, valuing it at $1.5 million.
The Drop Stop product has been well-received by the public, and the company has been consistently selling it with expectations of continued success.”
Drop Stop Shark Tank Net Worth.
Five years ago, Lori Greiner invested $300,000 in Drop Stop, acquiring a 20% stake in the company, which at the time had a valuation of $1.5 million.
Since then, the company has experienced remarkable growth, with sales exceeding $38 million and continuing to climb.
Drop Stop is now the top-selling car accessory on Amazon, and they’ve established partnerships with police departments in ten major cities.
Thanks to the investment from Lori Greiner and the other Sharks on Shark Tank, the company’s value has grown to $5 million. With the backing of these investors, it’s anticipated that Drop Stop will continue to expand and flourish.
Drop Stop Shark Tank Episode (Shark Tank Season 4 Episode 20)
Drop Stop Shark Tank Updates
Drop Stop is a device that prevents objects from falling in between car gaps. It was pitched on Shark Tank by Marc Newburger and Jeffrey Simon, who received $300,000 for 15% of the company.
Since appearing on Shark Tank, Drop Stop has become the number one selling automotive accessory on Amazon. It is also sold in Bed Bath and Beyond, Walmart, Target, Staples, and more.
Marc and Jeffrey revealed that they did close to half a million dollars in sales following the show. They also appeared on The View and did another $120K in sales. As of February 2022, the company is still in business and doing $5 million in annual revenue.
By the end of 2017, Drop Stop sales had reached 2.4 million, resulting in a revenue of $24 million3. Sales have continued to rise each year steadily, and the product has grossed well over $24 million at this point. Lori Greiner, one of the Sharks on Shark Tank, has been an incredible help to the company.
In an episode of Beyond the Tank, Marc and Jeffrey revealed that they were plowing all profits back into the business. They are scheduled for an update segment in season nine, episode 9.
Summary Table: Drop Stop Shark Tank
| TOPIC | DETAILS |
| Company Name | Drop Stop |
| Description | A device that prevents items from falling between the front seats and the center console of a car |
| Founders | Marc Newburger and Jeffrey Simon |
| Material | Black Neoprene filled with polyester fiberfill |
| Length | 17 inches |
| Seat Compatibility | Fits in cars with a gap of less than 3.5 inches |
| Shark Tank | Lori Greiner invested $300,000 for a 20% stake, valuing the company at $1.5 million |
| Walmart Purchase | $2 million |
| Revenue | $24 million |
| Company Value | $5 million |
| Police Partnership | Equipped 3,000 vehicles with Drop Stops |
Drop Stop Shark Tank FAQS
What Is Drop Stop And How Does It Work?
Drop Stop is a patented device designed to prevent items from falling between a car’s front seats and center console. It was invented by Marc Newburger and Jeffrey Simon of Los Angeles. Drop Stop is constructed out of black Neoprene filled with polyester fiberfill and is about 17 inches long.
It has a slot sewn into it where the seat belt latch can fit through. This anchors the device, allowing the car seat to slide back-and-forth freely.
Drop Stop attaches to the seat belt catch via built-in slot and moves with the seat, so there is no need to readjust or reinstall. It will work with any vehicle that has the configuration of a seat and center console with a gap in between.
The idea for Drop Stop was born after Newburger dropped a mobile phone down the gap while driving and almost caused a serious accident trying to retrieve it.
The product was featured on Shark Tank and has since become a successful business, with over 2.4 million units sold and revenues totaling $24 million as of December 2017.
Despite the ups and downs of turning a product into a money-making business, Drop Stop is still doing exceptionally well, generating $5 million in annual revenue as of February 2022.
What Is The Material Used To Make Drop Stop?
Drop Stop is made of black neoprene filled with hypoallergenic polyester fiberfill. The neoprene casing is liquid and stain-resistant, making it easy to clean with a damp, soapy cloth.
The use of hypoallergenic polyester fiberfill inside a neoprene casing allows Drop Stop to stretch over any seat belt and into any size gap without compromising the integrity of the product or damaging it.
The material used in Drop Stop was chosen to ensure that it could adapt to every known vehicle that has a “Carmuda Triangle”. It can stretch or scrunch and adapts to every known vehicle that has a “Carmuda Triangle”.
Who owns Drop Stop?
Drop Stop was co-founded by two long-time friends, Marc Newburger and Jeffrey Simon.
Their product is designed to make driving less worrying and a little safer.
What Was The Outcome Of Drop Stop Shark Tank Pitch?
During their Shark Tank pitch in Season 4 Episode 20, Drop Stop inventors Marc Newburger and Jeffrey Simon asked for $300,000 for 15% equity.
They ended up striking a deal with Lori Greiner, who offered them $300,000 for 20% equity.
Since then, the product has become one of the most successful in the show’s history, with sales reaching $24 million by the end of 2017. The company is still in business and generating $5 million in annual revenue as of February 2022.
What Happened To Drop Stop After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Drop Stop became one of the most successful products in the show’s history. The inventors, Marc Newburger and Jeffrey Simon, struck a deal with Lori Greiner for $300,000 in exchange for 15% of the company.
The product is now available for purchase at Walmart, Target, Bed Bath & Beyond, The Container Store, Amazon, and QVC.
By the end of 2017, Drop Stop sales had reached 2.4 million, resulting in a revenue of $24 million. The company has continued to grow, generating $5 million in annual revenue as of February 2022.
In AppleTV’s “Beyond the Tank,” it was revealed that in the 18 months since Simon and Newburger’s appearance on Shark Tank, Drop Stop pulled in an impressive $10 million. Despite early battles, the product is still going strong.
What was the inspiration for Drop Stop?
The idea to create Drop Stop came after Marc nearly died and killed a pedestrian in an accident he caused while trying to fetch his phone, which he had dropped while driving.
What was the solution?
He stuffed an automotive sponge into an old sock, cut a few slits in it (for the seatbelt receptacle), and tested it on his car; the Drop Stop was born!
Drop Stop inventors Marc Newburger and Jeffrey Simon pitch the Sharks on their solution for keeping things out of the “ Carmuda Triangle,” that little gap between a car seat and the center console.
It is basically a device that prevents objects from falling between the small gap found between a car set and the handbrake in the center.
What was the founder’s biggest challenge?
Jeffrey had to move in with Marc and make other sacrifices, including time, money, and other resources to develop a different and unique product.
How Can I Buy Drop Stop?
You can check it out and buy your very own by clicking on this link here Drop Stop has seen great success since Lori came onboard True to her promise, Lori has been an incredible help in getting the Drop Stop into retail stores all over the United States.
What other retailers are selling Drop Stop?
Drop Stop can be bought in Bed, Bath and Beyond, Walmart, Target, and Staples to name but a few.
What are the benefits of Drop Stop?
Having Drop Stop can bring the focus back to driver safety and allows you to keep your eyes on the road as opposed to what is falling down through the gap between the seat and the center console of the car.
What is the gap size between a car’s center console and seat?
Provided the gap between a car’s center console and the seat is less than 3.5 inches, Drop-Stop should fit.
What was the Drop Stop featured on TV?
Drop Stop was featured on a segment of The Marilyn Denis Show entitled “The Best As Seen on TV ABC The View Shark Tank.
What was the deal?
On a special Shark Tank episode, which aired March 29, 2013, Lori Greiner introduced the product alongside the inventors, Newburger and Simon, who made a deal with Greiner for 20% equity in Drop-Stop for $300,000.
Marc and Jeffrey made over $500,000 in sales after their episode aired. Lori assisted them in getting the Drop Stop into retailers such as Bed, Bath & Beyond, Walmart, Target, and Staples around the country.
What problem does Drop Stop solve?
The Drop Stop solves the problem of things dropping in between your car seat and center console.
Does Drop Stop come in different colors?
One-color can be used to mix all of the others but the black color is inconspicuous. One-color blends all. The Gap is always a dark shadow so once you install Drop Stop, you won’t know it’s there until it Stops the Drop
Will it fit in my car?
One size fits most vehicles. Drop Stop is a device that is about 17 inches long and made of black Neoprene filled with polyester fiberfill.
It is designed to fit most cars.
The seat belt clasp may be slid via a slot sewed into it. This secures the device while enabling the vehicle seat to move freely back and forth.
How does drop stop make money?
Drop Stop is a company that sells drop stop devices/products. The company has not yet revealed yet the revenue this year.
But as of December 2017, the product has grossed well over $24 million at this point.
What’s the deal with Daymond?
Daymond likes the numbers, but he follows Robert out.
What’s the deal?
Lori jumps in and offers $300K for 20% and promises she’ll make Marc and Jeffrey millionaires.
How Much Money Did Marc and Jeffrey Make?
Update interview with Shark Tank Blog, Marc and Jeffrey revealed they did close to half a million dollars in sales following the show.
Marc goes on to tell the sharks more about Drop Stop stating that it is a patented device that is universal in size to fit any car or truck.
