Even though Mark Cuban and Lori Greiner accepted the investment of $1.4 million for 5% equity in the company, the deal failed after the Shark Tank episode.
Soon after, the company ran into problems with bad customer feedback and delayed deliveries.
Shark Tank product, Trunkster’s net worth is $2,000. The company is no longer making sales and has shut down its operations.
What happened to Mark and Lori’s Deal?
Following the Shark Tank episode, the Trunkster luggage bags’ poor quality and malfunctioning quality were discovered by Mark and Lori’s Quality Control team.
Furthermore, Mark Lori stated in an interview that she had found the Founders to be quite immature and that working with them was very difficult.
As those who watched the Shark Tank episode may remember, Trunkster has a GPS tracker built in.
Even though he was a tech enthusiast, Mark Cuban had negative things to say about Trunkster after using it during his trip to Los Angeles.
He asserted that not only is Trunkster’s built-in weighing scale inaccurate, but the GPS is also significantly off course. Finally, Lori and Cuban rejected the investment outright.
Trunkster’s Net Worth
| Net Worth | $2,000 |
| Annual Sales | $0.00 |
| Lifetime Sales | $2 Million |
| Losses | $480,000 |
Sales Revenues
The founders of Trunkster began fulfilling orders from their Kickstarter campaign following the collapse of the Shark Tank deal.
As was to be expected, customers had negative things to say about the products and returned over 70% of them, demanding a refund.
Trunkster did not have enough money to reimburse all of the customers who returned or canceled their orders because of large returns and a lack of investment. Orders totaling approximately $200k were never refunded.
Shark Tank Pitch
The two founders of Trunkster approached Shark Tank seeking $1.4 million in investment for 5% equity in the company.
Trunkster comes with a roll-top opening, instead of the traditional zip. This feature allows customers to easily access their belongings.
Trunkster also comes with a handle scale that shows the weight of the bag.
FAQs
As of today, Trunkster is out of business and has no net worth. We value its worth to be $2,000.
No. Even though Mark and Lori agreed to a deal on Shark Tank, it failed in further negotiations.
Trunkster was founded by Jesse Potash.
No. Trunkster failed miserably after it appeared on Shark Tank.