The Johnson family created a new type of game called Flipoutz. It’s a silicone bracelet that holds five personalized coins, which can be worn, traded, and tracked on the Flipoutz website. Each coin features unique artwork and conveys a positive message.
Emily Johnson (mother), Robin Johnson (father), Erin Johnson (18 years), Lachlan Johnson (16 years), and Jake Johnson (11 years) came into Shark Tank seeking investment for their company. Did the Sharks invest in their business? Let’s find out the current status of their business.
| Company Name | Flipoutz | |
| Founder/Co-Founder | The Johnson family | |
| Founded | 2010 | |
| Product | Silicone bracelet | |
| Asked For | $100k for 20% equity | |
| Final Deal | $100k for 33% equity | |
| Shark | Daymond John, Kevin O’Leary, and Robert Herjavec | |
| Episode | S2 E3 | |
| Air Date | April 1st, 2011 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Lexington County, South Carolina, United States | |
| Lifetime Sales | $5M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Lachlan, Erin, and Jake demonstrated their product and provided the Sharks with complete information about their silicone bracelet product. Erin contributes by designing the product and assigning each coin a unique 10-digit code that can be tracked online on the Flipoutz website. Jake serves as the community manager for the game.
In the past six months, they made a total of $20,000 in sales through their official website. They have also partnered with sales representatives and a souvenir distribution company to increase sales.
Lachlan explained that each bracelet coin costs $0.69 to make and is sold for $4.99, resulting in a high-profit margin. Her parents have invested a total of $250k of their own money into the business, which is a significant amount considering their sales over the last six months.
Robin explained that most of their money was spent on developing the website and on patent attorney fees.
Barbara Corcoran said that a lot of money would be needed for this business, so she is out. Kevin Harrington said that $100k is not enough for this business and that it is too risky, so he is out.
Emily and Robin shared that a company is currently interested in ordering 25 million coins and 2-3 million bracelets from them. Additionally, this company will pay 30% upfront for the inventory.
After revealing this big order, Daymond John offered $100k for 33% equity. Kevin O’Leary and Robert Herjavec teamed up to offer $100k for 33% equity. Daymond then reduced his equity demand to 25%. Finally, Kevin, Robert, and Daymond teamed up and offered $100k for 33% equity, expressing interest in the product’s patent.
However, the Johnson family needed more money, so Jake countered with $150k for 33% equity. The Sharks did not agree to this counteroffer, so the Johnson family had to stick with the Sharks’ initial offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | $33k for 11% equity |
| Robert Herjavec | $33k for 11% equity |
| Barbara Corcoran | No Offer |
| Daymond John | $33k for 11% equity |
| Founder’s (Countered) | $150k for 33% equity |
| Final Deals | $100k for 33% equity |
Flipoutz Shark Tank Update
After airing on Shark Tank, many kids became aware of the Flipoutz silicone bracelet, and they even ordered the bracelet from the company’s official website. The company’s product became available at Toys R Us and Hallmark stores.
The Johnson family’s business, Flipoutz, signed a licensing deal with Wild Creations in 2013, which played a crucial role in its growth. Wild Creations is known as an innovative toys and games company.
In 2013, Flipoutz was sold to Wild Creations, and in 2015, it was rebranded as SnapTagz.
During our research on Flipoutz, we found that SnapTagz’s business closed down around 2020, though the exact reason for the closure is unknown.
Jake Johnson completed his law studies at Tulane University Law School in May 2024.
Check out Shark Tank Season 2 Business Update.
If you want more updates on the businesses that appeared in Season 2, visit here.
