Lifter Hamper Shark Tank Update | Lifter Hamper after Shark Tank
What is Lifter Hamper?
Lifter Hamper is a bungee spring-loaded laundry basket that falls as you add laundry to it, but rises again when you remove it to add it to your washing machine/dryer.
Marvin Phillip, a former NFL player whose career was cut short due to an injury, is the creator of the Lifter Hamper.
It has four lockable wheels, making it easy to transport while remaining stationary when needed. Furthermore, it saves you the trouble of having to bend over, which is great for individuals with back problems.
Marvin was selected by the Pittsburgh Steelers in the sixth round of the 2006 NFL Draft. Two years later, he was sidelined for the rest of the season due to a back ailment that made it impossible for him to bend over.
This accident effectively terminated Marvin’s professional playing career, but throughout his rehabilitation, he wanted to assist around the house, namely with laundry.
Who is the founder of Lifter Hamper?
Marvin Phillip, a former NFL player whose career was cut short due to an injury, is the founder of the Lifter Hamper.
Marvin Philip, the creator of the Lifter Hamper, suffers from low back discomfort as a result of injuries incurred while playing football for the Pittsburgh Steelers, Cleveland Browns, and Buffalo Bills.
Because of his discomfort and restricted mobility, he sought out a remedy for hampers that need you to bend down to take out soiled clothing.
His patented Lifter Hamper features a bungee-like material that raises the clothes from the bottom of the hamper as you remove the clothes from the top, removing the need to bend over.
However, the continual leaning over caused him problems. As a result, he devised the Lifter Hamper. He put about $75,000 of his money into developing a design and obtaining a patent.
However, he lacked the finances to put his product into production and sell it. In the meanwhile, he was able to negotiate contracts with e-retailers such as Amazon.
Feeling a little overwhelmed and insecure about himself, Marvin began looking for an investor who could not only assist him get to production, but also act as a mentor and provide suggestions on how to enhance the product.
What Happened to Lifter Hamper at Shark Tank pitch?
Marvin decided to pitch his invention to Shark Tank investors in episode 4 seasons 4 of Lifter Hamper at Shark Tank to aid him with product distribution on the market.
Marvin appeared on Shark Tank seeking for $85,000 investment for a 12% stake in his company, which was valued at $708,000.
Lori Greiner expresses interest and requests a closer look. Kevin O’Leary does not agree with the valuation, therefore he quit. Mark Cuban likes the product and claims to wash all of his own laundry, but he isn’t the proper partner for Marvin; he’s out as well.
Robert Herjavec believes it is too early to invest, therefore he is also out. Daymond John has also stepped down. Lori Greiner loves the product, however there are some drawbacks.
She believes the wheels are too little and ineffective. She feels Marvin is only halfway there, so she walks out, but she instructs Marvin to contact her when the company is moving forward. Marvin eventually left the pitch without a deal.
What Happened to Lifter Hamper after Shark Tank?
Despite failing to get the deal with the Sharks, Marvin quickly sold out of merchandise on the first night the show aired.
Marvin launched two Indie GoGo crowds financing campaigns, raising little more than $16,000 in total. Since then, availability has been patchy.
Their website has been updated, and they are now again available on Amazon. The product will be available for purchase in March 2013, so all those anxious fans will be able to get their hands on one!
Marvin licensed the product in 2015 to Household Essentials.
They are a retailer of household items who sells their products online. There are no reliable sources on Lifter Hamper’s sales. The company website is no longer active as of December 2021, and the firm appears to be out of business.
Competitors of Lifter Hamper
The primary competitor of Lifter Hamper is The Standing Laundry Hamper.
Net Worth of Lifter Hamper
The company was valued at $708,000 during the pitch, since the company is out of business and hence the company net worth is unavailable.
Lifter Hamper FAQs
What is Lifter Hamper?
Lifter Hamper is a hamper that allows you to remove soiled clothes without bending over. The Lifter Hamper features a bungee-like spring that allows you to add and remove laundry without bending over.
Who is the founder?
Marvin Phillip, a retired NFL player, is the founder of Lifter Hamper.
How much was asking on Shark Tank?
Lifter Hamper was seeking $85,000 for a 15% stake in the company, which was found to have a valuation of $708,000.
Did he get the deal?
No. He did not.
Is Lifter Hamper still in business?
No. It is not.
What is Lifter Hamper’s revenue?
The revenue is unknown. The company website is no longer active as of December 2021, and the firm appears to be out of business. There are no reliable sources on Lifter Hamper’s sales and revenue figures.
How much was the net worth of Lifter Hamper?
Lifter Hamper’s company was valued at $708,000 during the pitch, since the company is out of business and hence the company net worth is unavailable.
Who currently owns Lifter Hamper?
Lifter Hamper is now owned by Household Essentials, and they are a retailer that sells products online.
Where can I buy Lifter Hamper?
Lifter Hamper is available for purchase on Amazon and the organization’s website.
Who are the competitors?
The Standing Laundry Hamper, (founded in 1875) is a laundry basket that allows you to lift the laundry from the bottom without bending over.
Where can I buy it online?
Lifter Hamper products can be purchase on Amazon.
How does Lifter Hamper works?
The Lifter Hamper features four wheels and four locks to secure it in place. When users place their dirty laundry inside the hamper and close it, the bungee-like spring system in the bottom compresses to create an air cushion that lifts their clothes up when they remove them freeing them up to do other things.
What is the Align-Lift Technology?
Lifter Hamper features an align-lift technology, which means it has four wheels that are aligned in four corners of the hamper.
Is Lifter Hamper a scam?
No. Lifter Hamper is not a scam.
Who can join Lifter Hamper?
The companies offers affiliate membership program to more than 100 affiliates who can earn up to 20% commission on every sale they make from any of the websites associated with the team.
Is Lifter Hamper safe to use?
It is unknown how safe it really is to use.
Was Lifter Hamper profitable?
Lifter Hamper has not filed any financial statements, so it is hard to tell if they were profitable or not.
Is Lifter Hamper a good investment?
No. The company has been out of business for more than three years, so there is no reliable information about the company’s financial health.
The current owner does not appear to have any connection with the original founders of the company, so you might want to think twice before investing in it.
How did Lifter Hamper make money?
Lifter Hamper made money through affiliate marketing.
What is the net worth of Marvin Phillip?
He has an estimated net worth of $2 million.