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What is Stormbag?
Stormbag is an innovative emergency solution for storms and floods that replaces traditional sandbags. It can be soaked in water to become a 30-pound alternative and can be reused up to three times.
The creators, Maurice and Miles Huffman, secured a $200,000 investment in Shark Tank and gained recognition from authorities like FEMA and the National Guard.
Founder Story
StormBag was founded by Maurice Huffman and Miles Huffman, two brothers with a passion for innovation and a drive to make a difference.
The idea for StormBag came to them after witnessing the devastating effects of flooding in their community.
Determined to find a solution, they developed a water-resistant bag that could be used as an alternative to traditional sandbags.
Stormbag net worth
After appearing on the popular reality show Shark Tank, StormBag experienced a surge in popularity and sales.
The Sharks showed a lot of sympathy for the founders, Maurice Huffman and Miles Huffman, and their story received attention on social media platforms like Twitter.
According to a Shark Tank update, StormBag’s final valuation stood at $666,667. The publicity from the show is estimated to have generated at least $50,000 in sales for StormBag.
Shark Tank Appearance
Stormbag, an innovative sandbag alternative, made a successful appearance on Shark Tank, securing a deal of $200,000 for a 30% share in the business from sharks Mark Cuban and Lori Greiner
The negotiations on Shark Tank involved different investors making offers for a stake in a company. Kevin O’Leary chose not to participate, while Daniel Lubetzky and Daymond John offered $200,000 for a 40% stake.
Lori Greiner and Mark Cuban offered the same amount for a 30% stake, along with help in diversifying the product.
Daniel and Daymond then matched Lori and Mark’s offer, creating a challenging decision for the entrepreneur.
Business Model
StormBag’s business model is centered around providing a high-quality, water-resistant bag that can be used in various industries.
The bag serves as a reliable alternative to traditional sandbags, offering superior protection against flooding and other water-related disasters.
The company targets both individual consumers and businesses that require effective flood protection solutions.
StormBag’s revenue primarily comes from the sale of its water-resistant bags. The bags are manufactured using durable materials and are designed to withstand the harshest conditions.
By offering a product that is both effective and environmentally friendly, StormBag has managed to carve out a niche in the market.
Post Shark Tank Growth
Since appearing on Shark Tank, StormBag has experienced significant growth. The exposure from the show has helped the company gain traction and expand its customer base.
According to estimates, StormBag should receive at least $50,000 in sales from the publicity generated by the show. This boost in sales has contributed to the company’s overall net worth.
Social media handles
StormBag does have strong social media presence, we highly recommend you to check their profiles to stay connected with them.
They regularly post updates about their product and customer testimony. you can follow them on following link:
Final Words from author
StormBag’s journey from its humble beginnings to its current net worth of $1 million is a true example of the dedication and entrepreneurial spirit of its founders, Maurice Huffman and Miles Huffman.
Their appearance on Shark Tank and valuable partnership with Mark Cuban and Lori Greiner have boosted the company’s growth and opened doors to new opportunities.
