When you are about to print an important document and discover that the printer is out of ink, it can be a very frustrating situation. To solve this problem, Andy Sperry started an Online company called Ink Flip, which offers backup ink cartridge refill services.
Did Andy’s online ink refill company get a deal on Shark Tank? Let’s find out the current status of his company.
| Company Name | Ink Flip | |
| Founder/Co-Founder | Andy Sperry | |
| Founded | 2008 | |
| Product | printer inkjet cartridges service | |
| Asked For | $150k for 20% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S1 E11 | |
| Air Date | Jan 8th, 2010 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | Franklin, Tennessee, United States | |
| Lifetime Sales | $0.1M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
After demonstrating his product, Andy explained that customers need to go to the Ink Flip online portal to order inkjet cartridges. Then, they should mail their empty cartridges to the provided address for a refill.
He also mentioned that the business has been running for 6 months and has generated a total revenue of $10,000 so far. On average, each customer sends 7 cartridges for refill per year, and each refill yields a profit of $10.
Andy stated that he has invested a total of $50,000 in his business so far, but he doesn’t know the customer acquisition cost. Because of this, Kevin O’Leary said he is out.
Daymond John said that it is not a proprietary product and decided he is out. Kevin Harrington mentioned that it is too risky an investment for him, so he is out. Robert Herjavec and Barbara Corcoran also declined to invest.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counters |
| Final Deals | No Deal |
Ink Flip Shark Tank Update
Andy failed to secure investment from the Sharks because he didn’t know the customer acquisition cost. He wanted to use their investment to market his product. After extensive research on Ink Flip, we found that the company was completely shut down in April 2010. Andy is currently the Chief Operating Officer at Queen of the Thrones.
Here is a report on the updates of some businesses from Season 1.
