What Happened to QFlex after the Shark Tank Pitch? QFlex Shark Tank Update
What is QFlex?
QFlex is a company that designs and develops a portable personal acupressure device. It is designed to target specific areas of the body such as the shoulder, neck, and back, to provide relief from discomfort and pain.
The hook-shaped design allows for easy self-massage, and its pear-shaped tip can reach deep tissue to promote healing, wellness, and energy balance.
The Q-Flex can also be used on the feet to improve blood circulation and aid in recovery.
With its unique design, QFlex has become a well-known brand globally, and offers a range of sizes to accommodate a diverse customer base.
Who are the Founder of Q-Flex?
Andrea was inspired to start her business, QFlex, after frequently massaging her mother’s sore muscles. Her mother, Hong Cao, was a nurse who worked long hours at the hospital and would come home with a sore back.
Recognizing that her mother’s needs were likely shared by many others, Andrea decided to create a massage gadget that would allow individuals to massage hard-to-reach areas without the help of a companion.
She developed the first 20 prototypes with the help of her mother’s engineering expertise and the sales were promising
What Happened to QFlex at the Shark Tank Pitch?
Andrea and Hong went on Shark Tank to seek an investment of $20,000 for a 20% share in their company, QFlex, which they valued at $100,000.
Andrea, who is a skilled salesperson, explained how they came up with the QFlex and demonstrated its use.
She mentioned that she had already sold 800 units, mostly through door-to-door sales.
The Sharks were impressed with her presentation, but Kevin O’Leary questioned the pricing and Robert Herjavec brought up the lack of a patent.
Lori Greiner revealed that she had sold a similar product on QVC and Robert advised against investing in the company due to patent issues.
However, Barbara Corcoran and Mark Cuban offered to invest $25,000 for a 25% stake in the company and manage its operations, with the condition that Andrea would have time for sales calls.
What Happened to QFlex after the Shark Tank Pitch?
The company, QFlex, appeared in an episode of Beyond the Tank and since then they have created a website and received 17,000 orders totaling over $500,000.
Initially, they faced challenges fulfilling orders while working from home, but with the help of the entire family and a move to a fulfillment facility, they were able to improve their operations.
The company has continued to be successful, with yearly revenue of $3.5 million. Additionally, the founder, Andrea, started a separate company, Andrea Equine, which sells horse-related items and even used some of her profits to buy a ranch and adopt a wild Mustang. A
ndrea will be starting her junior year at Stanford in August 2021, where she will be studying Innovation, Management, and Entrepreneurial Engineering.
What is the Net Worth of QFlex?
Andrea and Hong pitched QFlex on Shark Tank Season 6 Episode 12, seeking $20,000 in exchange for a 20% stake. This valued the company at $100,000.
They ultimately accepted an offer from Mark and Barbara for $25,000 for a 25% stake, which still valued the company at $100,000. However, the company’s current valuation is now higher due to its growth.
Who are the Competitors of QFlex?
There are no competitors identified for QFlex.
QFlex FAQS
What is QFlex?
QFlex is a firm that specializes in the development of a personal portable acupuncture massage device.
The device is a personal massager that allows them to give themselves or their friends an acupressure massage in minutes, with no previous knowledge of acupressure.
Who is the founder of QFlex?
Andrea Cao and Hong Cao are the founders of QFlex.
Where can they buy a QFlex device?
They can find the product on their website and on Amazon.
What is the company’s website address?
The company’s website address is www.getqflex.com.
How much were they seeking in the Shark Tank?
They were seeking $20,000 for a 20% stake in their company.
How much did they get from the Sharks?
They accepted $25,000 for 25% stake which brings the same valuation.
Where is QFlex located?
They are located in San Luis Obispo, California.
Is QFlex on Facebook, Instagram and Twitter?
The company has a Facebook page and an Instagram account.
How much does it cost to buy?
The device costs $24.95.
What material is QFlex made of?
The item is composed of plastic and hard rubber and is fashioned like a gigantic question mark (or maybe a letter “Q”).
What happened to Q Flex?
Andrea and Hong Cao were granted a patent for the Q-Flex in January. Andrea estimates that the Q-Flex costs roughly $7 to make and sells for $24.95 on its website.
With the exception of retail store orders and online orders from their website, the company’s orders are now delivered by Amazon.