MyoStorm Shark Tank Net Worth 2023
MyoStorm Shark Tank Net Worth
As of February 20, 2023, MyoStorm is estimated to have a net worth of $2 million. The company was founded in 2018 by Shaquille Walker and Jonothan DiPeri, and they appeared on Shark Tank in October 2019 accompanied by Jared Ward.
On the show, they requested an investment of $150,000 in exchange for 10% equity in MyoStorm. Lori Greiner offered them $150,000 for 5% equity and a $1 royalty on the product until she recouped $500,000, which they accepted.
MyoStorm’s Meteor product was initially listed at $149 but was later reduced to $99 after Greiner’s investment, leading to a jump in sales.
The company has also made endorsement deals with pro athletes and is estimated to generate approximately $1.8 million annually as of 2022.
As such, MyoStorm’s net worth is estimated to be above $2 million as of February 20, 2023.
What is MyoStorm? Who is the founder of MyoStorm?
MyoStorm produces a small vibrating massage ball called the Meteor that is also capable of emitting heat. This device is not limited to providing massage to the neck and back muscles, but it is also suitable for treating sore muscles and post-workout rehabilitation.
The company also sells branded merchandise and replacement chargers on its website.
The three co-founders of MyoStorm, Jonothan Diperi, Jared Ward, and Shaquille Walker, have a background in mechanical engineering, exercise science, and statistics, respectively.
Jonothan, the CEO of the company, and Shaquille, who is still employed by MyoStorm, were childhood friends and former missionaries from the same church in Provo, Utah. Jared is also still working for the firm while serving as a statistics professor at BYU and a US Olympian in 2016.
MyoStorm’s Kickstarter campaign in the fall of 2018 was successful, raising $65,461. With the help of their team, they were able to complete the project and release the product to the market by early spring 2019.
The Meteor combines the best features of several massage tools to deliver a package of vibration, heat, and pressure in one device.
The product was developed with the help of well-known PhDs in exercise physiology and mechanical engineering to study the effects of vibration and heat on muscle tissue.
The Meteor’s heat, vibration, and pressure features provide relief for pain and stiffness when rolled over tight muscles.
MyoStorm has gained endorsement from a variety of athletes, including track and field stars and bodybuilders. Several universities also use the Meteor as part of their training and therapy programs.
MyoStorm’s team is committed to bringing their product to the market, and they were able to create a prototype of the Meteor by the end of 2017 and release it to consumers within a year.
MyoStorm Shark Tank pitch
During season 11, episode 5 of Shark Tank, Jonothan Diperi, Shaquille Walker, and Jared Ward presented their pain and muscular stiffness healing ball, MyoStorm, to the Sharks, seeking their assistance in scaling and manufacturing.
The three entrepreneurs offered the Sharks a 10% stake in their company for $150,000, which was valued at $1.5 million.
After describing their product and providing samples, the Sharks expressed interest in the product and marketing strategy but wanted to know how it differentiated from similar items.
While the Sharks liked the margins, they believed the $160 price tag was too high. Lori suggested reducing the price to $99 and minimizing manufacturing expenses to maintain profits.
Mark initially offered $150,000 for 20% equity in the company, but he retracted his offer after discussing it with his friends.
Kevin offered $150,000 in exchange for 5% equity and a $1 royalty on each ball sold until he recouped $500,000. Matt offered the exact deal the entrepreneurs were seeking, $150,000 for 10% equity.
Lori proposed a $150,000 investment for 5% equity and a $1 per unit royalty until she recouped $500,000, which the entrepreneurs ultimately accepted.
However, the deal was never completed, and the company is no longer mentioned on Lori’s website.
Nonetheless, the company sold out of all its merchandise on the night of the intended air date and completed backorders in February 2020, after the show aired in October 2019.
The company launched a Kickstarter campaign in June 2021 to introduce a smaller and more affordable version of the MyoStorm, the Meteor Mini.
They also released additional attachments, including a 3-in-1 Recovery Roller, a Dual Layer Recovery mat, and a Massage and Stretch strap.
The campaign exceeded its $50,000 objective, and the company’s annual revenue reached one million dollars in December 2021.
Competitors of MyoStorm
The main competitors of MyoStorm are; Chlyn Pro, Cortex Comfort, Buzzy Helps, ADVANCE Medical Devices among others.
MyoStorm Net Worth
The company was valued at $1.5 million during the pitch, since then the company has been performing well in sales with annual revenue of $1 million in 2021. This justifies that the company’s net worth had increased.
MyoStorm FAQs
What is MyoStorm?
MyoStorm is a firm that makes the Meteor, a palm-sized vibrating massage ball that also emits heat. The Meteor may be used for more than just tight back and neck muscular massage.
It can also be used for pain treatment in sore muscles and post-exercise rehabilitation. They also sell branded gear and replacement chargers on their website.
Who is the founder?
MyoStorm was founded by Jonothan Diperi, Jared Ward, and Shaquille Walker.
How much were they asking on Shark Tank?
The Sharks offered $150,000 for 10 percent equity in the firm, which is equivalent to $1.5 million in net worth.
Did they have the deal?
Yes, they did from Lori Greiner.
How much was the deal?
Lori Greiner offered $150,000 for 5% equity in the firm and a royalty of $1 per unit sold until the company recoups $500,000.
Is MyoStorm still in business?
Yes, MyoStorm is still in business.
How much is MyoStorm worth now?
The company was valued at $1.5 million during the pitch, since then the company has been performing well in sales with annual revenue of $1 million in 2021. This Justify that the company net worth had increase.
Where is MyoStorm?
MyoStorm is headquartered in Provo, Utah.
What is the cost of MyoStorm?
The Meteor is sold at $159.99 on the company’s website. The 3-in-1 Recovery Roller is sold at $149.99, the Massage Strap at $29.99, and the recovery mat at $34.99.
How do I use MyoStorm?
When using the product, first turn off the power switch. Users can use the pre-set temperature settings to control the heat, vibration, and pressure the ball produces.
Is MyoStorm work?
Yes, it works. The company offers a 60-day money-back guarantee for customers who use the product and do not feel that it is effective.
How do I buy MyoStorm?
MyoStorm products may be purchased on their website or from third-party retailers like Amazon.com.
Does MyoStorm have any alternatives?
Yes, there are many alternatives to MyoStorm available on the market.
Does MyoStorm have a return policy?
Yes, there is a 60-day money back guarantee. If customers do not feel that the product is effective, they can return it for a full refund.
Is MyoStorm ship?
Yes, the product can be shipped to most countries. For details visit MyoStorm
Does MyoStorm charge for shipping?
No, shipping is free for orders over $75.
Is MyoStorm sold at Walmart?
No, the product is not available at Walmart. However, it may be purchased on Amazon.com or directly from their company website.
Does MyoStorm ship internationally?
Yes, there are no restrictions on international shipping. The product may be shipped to more than 70 countries worldwide.
How much is MyoStorm annual revenue?
MyoStorm annual revenue is estimated at $1 million in 2021.
What is the net worth of Jonothan Diperi?
The net worth of Jonathan Diperi is unknown.
What is the net worth of Jared Ward?
The net worth of Jared Ward is unknown.
What is the net worth of Shaquille Walker?
The net worth of Shaquille Walker is unknown.
