Flipoutz Shark Tank Update

Jake, Lachlan, and Erin Johnson became innovators when driving home from the beach.

The parents of the Johnson children asked their children to make a new toy because they couldn’t stop fighting.

Parents were pleasantly surprised that their children came up with a brilliant idea, even though they had low expectations. Flipoutz was born as a result of the event.

It was a simple concept. They had an idea to make a silicone rubber bracelet with five coin slots.

The coins would also feature funny artwork in addition to uplifting words.

Flipoutz, the company behind the coins, intended to allow traders to trade and monitor the coins through their website.

Mr. and Mrs. Johnson approached one of the Sharks in the Shark Tank to find a business partner for their innovative toy and child’s wardrobe accessory.

What Is Flipoutz?

FlipOutz is a customized bracelet that is trackable and customizable and lets kids trade customized coins with each other and track their movement online.

FlipOutz allows children to exchange and monitor the movement of their unique coin tokens as part of a community online.

The game includes a silicon bracelet that contains up to five inspirational coins that players can wear around their wrists. 

Flipoutz Shark Tank Update

This game involves trading and exchanging coins with others online and keeping track of them.

The silicone rubber bracelet, which has compartments for five different coins, can store them. They also feature amusing designs and feature favorite quotations, hobbies, and interests.

Company NameFlipoutz
EntrepreneurJake, Lachland, And Erin Johnson
ProductTradeable Flipout coins in toy bracelets
Investment Asking For$100,000 For 20% stake in FlipOutz
Final Deal$100,000 For 33% stake in FlipOutz
SharkDaymond John, Kevin O’Leary And Robert Herjavec
Episode Season 2 Episode 3
Business StatusOut Of Business
WebsiteVisit Website

Who Is The Founder Of Flipoutz?

Lachlan, Erin, and Jake Johnson founded FlipOutz with the support of their parents – Emily and Robin Johnson.

The brothers and sisters have since gone on to pursue other interests. Lachlan Johnson’s older siblings, who were in high school and still a long way from college, often quarreled when she was 12 years old.

Lachlan’s mother suggested that they develop a new item that they would enjoy owning while driving back from the beach one day. FlipOutz was developed by pooling its resources.

Flipoutz Before Shark Tank

Flipoutz is both a piece of jewelry and a fun toy all in one. Jake, 13, Lachlan, 16, and Erin, 18, came up with the idea for a new toy while riding home in the car with their parents. They were encouraged to come up with it together while their parents drove them home from the beach.

Flipoutz, a silicone rubber bracelet containing five coins emblazoned with eye-catching designs and motivational slogans, was the result. 

Flipoutz is a fun website for kids to exchange money and keep track of their progress.

They pitch their patent-pending coin tracking and trading system to the Sharks in Season 2, Episode 206.

How Was The Shark Tank Pitch Of Flipoutz?

Emily Johnson introduces her husband and children before starting the Shark Tank discussion. She then begins explaining the origins of the Flipoutz product to the Sharks.

Emily had challenged the kids to find the perfect toy or game to become friends instead of fighting in the van.

They are currently trying to raise $100k for a 20% interest in the company Flipoutz through this process.

Johnson’s eldest daughter, Lachlan Johnson, begins showing the Sharks the product she and her siblings created thanks to the family’s financial stability.

She tells the Sharks that her Flipoutz wristbands have personalized coins on them that can be swapped, collected, and tracked online via Flipoutz’s website.

Erin gave them bracelets after explaining how she came up with the unique design for these coins. 

Wearers can express themselves by discovering coins imprinted with original artwork or inspirational phrases.

The coin comes with an embedded 10-digit code that allows the owner to track its movement online from anywhere in the world.

Flipoutz’s technological features are entirely the result of Jake’s vision, which called for a gaming element. 

The website would allow individuals to set up their page to write on or do anything else they desire.

Robert Herjavec chimes in first, commending Jake for the ability to work with and be influenced by both of his sisters for such a long time. That’s not all that is said, though.

It’s been just six months since Flipoutz went on the market, yet they’ve already made $20k in sales. 

They have also partnered with a business representative and a souvenir distributor to supply theme parks and zoos with their products.

Daymond They cost about $.66 for a bracelet with one coin and retail for about $5, so John inquires about the manufacturing costs of the bracelets.

Herjavec admits his children are obsessed with Silly Bandz, a current competitor. John is curious to know why the children want to sell the bracelet-specific coins.

Anybody who owns the coin can describe it and post a comment about it on the internet, and anyone else can do the same. The process is akin to constructing a narrative for the currency.

They have seen an increase in interest since they distributed them to the students at their high school. It has somehow managed to gain a following among college students who enjoy it.

The Flipoutz firm’s founders’ parents have also invested roughly $250k into the company since its inception. 

The development of the website and the hiring of patent attorneys were quite costly, which led them to conclude that they would need an investor.

Kevin O’Leary does not believe that the bracelet is anything special. Still, Emily assures him that they will become a highly successful and popular brand name once they get the patent on tracking and trading.

Barbara Corcoran believes they will have a hard time breaking into this enormous industry, even if they have a patent.

She declines to assist them since it will take a significant amount of time and money to get their foot in the door.

Kevin Harrington joins her, repeating essentially the same thing as she had just said. He believes that $100k is not enough for them and is too risky for him to invest his money. He withdraws his money as well.

Emily tells the Sharks that Flipoutz has been negotiating with a company interested in purchasing 25 million coins and 2-3 million bracelets.

To begin producing the bracelets needed to meet the order, the business will pay 30 percent of the cost upfront.

They will get a 33-percent share of the company and $100k if they accept. He thinks they need someone to assist them through the process and the financial resources to complete this enormous order.

Jiggy Puzzles Shark Tank Update

O’Leary approaches Herjavec to beg for a 50/50 arrangement, but the Johnsons say they’d prefer to do a deal with more than one Shark.

With two Sharks engaged, they present a similar proposal to the family. As soon as the offer was made, John quickly changed his offer to receive a company quarterly.

When O’Leary gets fed up, he asks the family to leave the room so that the Sharks may have a private conversation. 

O’Leary informs the family that he and the other two have come up with $100,000 for the 33 percent share they hold.

They think the patent has worth it, but they’re also taking a risk. An unexpected development has caused Jake to tell his family that they will leave town to look for additional financial resources.

This led them to counteroffer $150,000 for the remaining 33 percent. Unfortunately, the Sharks have refused to budge, making this a disastrous option.

They decide to accept the deal after being given a second chance to think it over.

Final Deal: Daymond John, Kevin O’Leary, And Robert Herjavec agreed to invest $100,000 for a 33% stake in FlipOutz.

What Happened To Flipoutz After Shark Tank?

Flipoutz coins are now available at Toys R Us and Hallmark stores on five continents.

They are negotiating a partnership with a company that connects pen pals globally, and business is good.

A show called “The Kids Shark Tank” would feature kids as sharks and other kids pitching their business ideas to those sharks.”

Flipoutz was licensed to Wild Creations, a major online toy retailer and licensing company, back in 2013.

Wal-Mart currently sells wristbands. Johnson family is a phenomenal success story in the Shark Tank world.

Flipoutz Shark Tank Update

Flipoutz was successful after appearing on the show. Additionally, they began to be sold at Toys R Us and Hallmark stores.

Flipoutz allowed young people on five continents to talk and trade coins, which increased sales.

The Shark Tank episode we watched inspired us to make a kid-friendly version of Shark Tank in which kids with innovative ideas could pitch them to sharks to start their own company!

Flipoutz currently does not have a website, but you can make a note of their plans by visiting http://www.flipoutz.com/.

Neo Innovations Shark Tank Update

A few online retailers sell the bracelets, but the company’s Facebook page has been dormant since January 2015. The bracelets can currently be purchased from Amazon and a few other sites.

Will there be a comeback for Flipoutz? We are not sure when the website will reopen, but parents and children will keep an eye out for updates.

Is Flipoutz Still In Business?

The FlipOutz product was shown on Shark Tank, and it went on to be sold in large retailers such as Toys “R” Us and Hallmark and licensed by online toy retailer Wild Creations.

FlipOutz was once a huge success but hasn’t moved recently. There have been no updates to the company’s website and social media accounts since 2015.