There are many wallet designs available in the market that people buy to carry their money and credit cards. However, “wise guys” (a members of the Mafia) don’t use wallets. Instead, they use rubber bands, like The Broccoli Wad.
The idea for The Broccoli Wad came to Johnny Gennaro after reading a book about the Mafia, and he started the business with Italian-American actor Vinny Pastore.
Did they receive funding on Shark Tank? Let’s find out what happened to their business and its current status.
| Company Name | The Broccoli Wad | |
| Founder/Co-Founder | Johnny Gennaro and Vinny Pastore | |
| Founded | 2009 | |
| Product | Rubber Band | |
| Asked For | $50k for 20% equity | |
| Final Deal | $50k for 40% equity (20% goes to Vinny) | |
| Shark | Barbara Corcoran | |
| Episode | S2 E4 | |
| Air Date | April 8th, 2011 | |
| Business Status | Out of Business | |
| Website | Visit Website | |
| Headquarters | New York, New York, United States | |
| Lifetime Worth (Sales) | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Johnny and Vinny, after appearing on Shark Tank, asked the Sharks for $50,000 for 20% equity at a $250,000 valuation. They demonstrated their product, a rubber band clip, and explained how cool and practical it is to use.
Barbara Corcoran said she was out because she did not like the product. Jeff Foxworthy thought it was a good idea.
Johnny explained that each pack contains 4 bands and 4 metal slides, with a retail price of $10-$14. They have already invested $200,000 in the business and need $50,000 from the Sharks for sales and marketing.
Robert Herjavec said he wants to know why Vinny’s picture is not on the product package. Daymond John said “Vinny Wad” is a great name for the product. Barbara Corcoran said she is coming back in for Vinny Wad.
The reason is that Johnny is not paying Vinny enough, which is why Vinny’s face and name are not on the product.
Kevin O’Leary said that it sounds very expensive, so he is out. Jeff Foxworthy said that the product is not his type, so he is out.
Daymond John said that he doesn’t have an offer, so he is out.
Barbara offered $50k for 40% equity, with the condition that 20% of the equity would go to Vinny for including his name and face on the product. Johnny accepted this offer.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Jeff Foxworthy | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | $50k for 40% equity |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | $50k + 40% equity |
The Broccoli Wad Shark Tank Update
After the episode aired, the product received significant attention and saw a boost in sales once Vinny’s name was associated with it. The product was listed and sold on Amazon.
Here you see a TV commercial for The Broccoli Wad featuring Vinny Pastore.
During our research on The Broccoli Wad, we found that the product has been removed from Amazon, and the company is now completely shut down. The current worth of The Broccoli Wad Company is now $0.
Check out Shark Tank Season 2 Business Update.
If you want more updates on the businesses that appeared in Season 2, visit here.
