The Players Trunk Shark Tank Net Worth-What Happened to The Players Trunk After the Shark Tank Pitch?
What is The Players Trunk Shark Tank Net Worth?
As of May 2022, The Players Trunk’s net worth was estimated at $13 million, the current net worth is not available. The Players Trunk is an online marketplace that sells athletic gear and was founded by Charles Matthews, Austin Pomerantz, Hunter Pomerantz, and Jason Lansing.
The company appeared on Shark Tank USA in May 2022 with a $13 million valuation but failed to convince the Sharks to invest. Two of the Sharks, Mark Cuban, the owner of the Dallas Mavericks basketball team, and comedian/actor Kevin Hart offered $650,000 for 30% equity. When The Players Trunk team countered with $750,000 for 7.5%, the Sharks were not impressed.
Despite not receiving any investment from the Sharks, The Players Trunk has been endorsed by former professional basketball player Dwayne Tyrone Wade Jr., as well as publications like GQ and Forbes.
What Is The Players Trunk? Who Is The Founder Of The Players Trunk?
The Players Trunk is a platform founded in 2020 by five former college athletes and student managers. It allows athletes to sell their game-used gear, merchandise, autographed collectibles and experiences to their fans.
The platform also provides an opportunity for current college players to market themselves in NIL (name, image, and likeness) deals. The Players Trunk has been featured on Shark Tank and has been growing in popularity since its launch.
The Players Trunk was founded by Jason Lansing, Austin Pomerantz, and Hunter Pomerantz, along with athlete-founders Charles Matthews and Zavier Simpson. The five founders of The Players Trunk are all associated with sports, especially basketball.
They have recently graduated from college. The company is a platform for former college athletes to capitalize on the gear they earned during the duration of their college career.
All five co-founders of The Players Trunk appeared on Shark Tank Season 13 finale to pitch their company to the “sharks”.
What Happened To The Players Trunk At The Shark Tank Pitch?
Hunter Pomerantz and his The Players Trunk partners pitched their concept to the five successful entrepreneurial sharks on the popular show Shark Tank.
However, the sharks were not impressed with their $13 million valuation and did not offer enough money for a 5% stake in the company.
The Players Trunk founders had done $1.3 million in sales in just over a year, resulting in $200,000 in profit, but the sharks were not willing to invest at that price.
Mark Cuban, the owner of the Dallas Mavericks basketball team, and comedian/actor Kevin Hart teamed up to make an offer of $650,000 in exchange for a 30% stake in the company, once three of the other investors on the show declined to invest.
The company then made a counteroffer of $750,000 for a much smaller 7.5% stake, but Cuban and Hart were firm in their original offer. The entrepreneurs ultimately left the show without securing a deal with any of the investors.
What Happened To The Players Trunk After The Shark Tank Pitch?
The Players Trunk is an online marketplace that sells athletic gear. The company appeared on Shark Tank Season 13 Episode 24 and pitched their business to the sharks. At the time of filming, they had about $1.3 million in sales over a year and were on the ground floor of the NCAA.
It is unclear what happened to The Players Trunk after their appearance on Shark Tank as there are no updates available beyond their pitch.
The Players Trunk co-founders appeared on “Shark Tank” in May 2022 and left without a deal. They were seeking $650,000 in exchange for 5% of the company. At the time the episode was filmed, The Player’s Trunk had about $1.3 million in sales over a year.
After their appearance on Shark Tank, The Player’s Trunk continued to operate as an online marketplace that sells athletic gear.
Is The Players Trunk Still In Business?
The Players Trunk is still in business. Founded in 2020 by three former college team student managers and two former athletes, The Players Trunk is a platform for athletes to sell their game used gear, merchandise, autographed collectibles and experiences to their passionate fans.
In May 2022, the co-founders appeared on ABC’s “Shark Tank” to pitch the “sharks” about investing into their company, seeking $650,000 in exchange for 5% of the company. The Player’s Trunk had about $1.3 million in sales over a year at the time of filming.
The Players Trunk handles photographing the gear, shipping and all transactional issues. They make money by taking a percentage of the sale. The brand also offers limited edition playing cards and created an auction site to auction signed memorabilia.
In addition, they are looking to become a one-stop-shop for current college players to market themselves in NIL (Name, Image and Likeness).
Overall, The Players Trunk is still actively operating and providing services for athletes and collectors alike.