Grouphug Shark Tank Update | What Happened to Grouphug after the Shark Tank Pitch?

What is Grouphug?

Grouphug is a tech firm that produces compact solar panels that can be seamlessly installed on any standard window.

These panels feature an integrated rechargeable battery, enabling charging of devices during both day and night, with a USB connector for compatibility with most devices including smartphones and earbuds.

Alongside, Grouphug also offers eco-friendly accessories such as their “I’m No Fossil Fool” tote bag and official Grouphug cap.

Who Founded Grouphug?

Krystal Persuaded founded a unique technology start-up in Brooklyn after earning a Bachelor of Science in Industrial Design with the highest honors from the Georgia Institute of Technology.

She had a strong commitment to sustainability and social responsibility as an active member of Students Organizing for Sustainability during her undergraduate years.

After completing her schooling, she worked as an adjunct lecturer at various universities and as a Combine Accelerator at the NYC Media Lab, where she honed her business skills.

She also gained experience working at littleBits, a developer of STEM educational toys.

She had always wanted to start her own business but was unsure of what it would be until she realized the need for solar energy access among city residents living in apartments.

This led to the creation of GroupHug, a company that provides solar panels for those who do not own their own homes.

She launched the company in July 2019 with a successful Kickstarter campaign that raised $70,760 and a single Grouphug solar panel costs $149.

What Happened to Grouphug at the Shark Tank Pitch?

On Shark Tank season 11 episode 16, Krystal sought an investment of $150,000 in exchange for a 10% stake in her business, valuing it at $1.5 million.

She distributes samples and provides information about her product and plans to use the investment to expand production and reduce expenses.

Kevin O’Leary and Lori Greiner were not interested, with Kevin referring to the business as a commodity and Lori feeling it was too early to determine a viable audience.

Barbara Corcoran admired the product but felt it was “ugly,” while Rohan Oza was interested in the design of the solar cat but felt she hadn’t considered the business-to-business prospects.

Mark saw potential in the business-to-business sector and offered $150,000 for 25% of the company, stating the price was non-negotiable, which Krystal accepted.

What Happened to Grouphug after the Shark Tank Pitch?

The contract with Mark has been finished and Krystal continues to communicate with him via email on a weekly basis.

The situation described here occurred during the Covid-19 pandemic, which caused disruptions to Krystal’s supply chain, delays in orders, and the halt of B2B and public installations.

Due to Chinese manufacturing delays, initial Kickstarter orders were not fulfilled as of May 2020 and shipping for Kickstarter incentives did not begin until September 2020.

By July 2021, the company plans to have solar panels in every state and expects to have yearly revenue of between $900,000 and $1 million.

What is the Net Worth of Grouphug?

Krystal appeared on Shark Tank seeking $150,000 for a 10% stake in her business, which valued it at $1.5 million.

However, after accepting an offer from Mark for $150,000 for a 25% stake, the valuation dropped to $600,000. Despite this decrease, the current valuation of the company is now higher because it has grown.

Who are the Competitors of Grouphug?

Grouphug faces competition in its market space from Companies such as; MPOWERD

Grouphug FAQS

What is Grouphug?

Grouphug is a technology company that designs and manufactures small, easy to install solar panels that fit in beautifully on any conventional window.

The products has a built-in rechargeable battery, allowing devices to be charged day or night, and a USB connector for compatibility with the majority of devices including iPhones, Androids and AirPods.

Who is the founder of Grouphug?

Krystal Persuaded established Grouphug in Brooklyn.

How was she seeking in the Shark Tank?

Krystal Persuaded had been seeking $150,000 in exchange for a 10% stake in her business. This equates to a $1.5 million valuation.

Did she get the deal from the Sharks?

She accepting an offer from Mark of $150,000 for 25% stake which brings valuation to be $600,000.

How much does Grouphug cost to buy?

The single Grouphug solar panel costs $149.

Where can they purchase Grouphug?

Grouphug can be purchased on Company’s website.

Is Grouphug Still in Business? 

Grouphug is still operating today and is doing better than ever.

What is Krystal Persaud’s background?

Grouphug was founded and is led by Krystal Persaud. Grouphug, founded in 2018, is a New York City-based sustainable technology firm that showcases how creativity and design can help make renewable energy more accessible.

Where is Krystal Persaud from?

Krystal Persaud was raised in Oakland, New Jersey and attended Georgia Tech to study industrial design.

She discovered in college that she has the ability to make ordinary goods such as phones and sneakers in a more ecologically conscientious manner.

Where do they ship to?

They ship from their warehouse in the United States to every state in the United States, Europe, and the United Kingdom.

If they reside in Europe or the United Kingdom, their order will be subject to import duty. This is due to the fact that they are importing a product manufactured in the United States.

They are not responsible for reimbursing or covering import tax payments.

Are orders outside the U.S. subject to an import tax?

They are indeed! If they order from a country other than the United States, their order is subject to import taxes.

This is due to the fact that they are importing a product from the United States.

The tax amount will vary according to the nation in which they reside.

Typically, it is between 10% and 20% of the product’s retail price ($149). Customers are not reimbursed for import duties.

What can they charge with the Window Solar Charger?

Anything that has a USB port! The following are some examples:

Phone, tablet, Bluetooth speaker, smart watch, bike lights, and string lights powered via USB.

How long does the Window solar charger takes to charge?

Suspend from any sunny window. The built-in battery requires 8-10 hours of direct sunshine to completely charge.

What is the net worth of Krystal Persaud?

Krystal Persaud’s net worth is unavailable.