Nubrella Shark Tank Update: What Happened After The Show!
Nubrella was launched by Alan Kaufman back in 2009. Alan had the brilliant idea of designing a hands-free umbrella that you can wear like a backpack. This innovative umbrella covers your head, shoulders, and upper body. Thus, it fully shields you from heavy rain, strong wind, or sunlight.
Alan Kaufman went on Shark Tank in Season 1, Episode 14. He wanted $200,000 to grow his company and was willing to give away 25% ownership. After a unique pitch and negotiation, Alan made a deal with Kevin Harrington and Daymond John. They invested $200,000 for a 51% stake in his company.
In this article, we will provide you with the Nubrella Shark Tank update. So, let’s get started!
Nubrella Shark Tank Profile: An Overview
If you want the latest Nubrella update, just take a look at the table we have included below. It will provide you with a quick overview of the Nubrella company.
| Name of the company | Nubrella |
| The new name of the company after the rebranding | The Canope |
| Founded In | Jan1, 2004 |
| Launched in | 2009 |
| Founded by | Alan Kaufman |
| Industry | Consumer goods and Sporting goods |
| Type of product | Hands-free, wearable umbrella |
| The retail price of the product | $59.99-$79.99 |
| Ownership status | Private |
| Headquarters location | Delray Beach, Florida, United States. |
| The Nubrella Shark Tank episode | Season 1, Episode 14 |
| Episode air date | February 5, 2010 |
| Investment asked for | $200,000 for 25% equity |
| Investment offered by Daymond and Kevin | $200,000 for a 60% equity |
| Counteroffer by Alan | $200,000 for a 50% equity |
| Final deal | $200,000 for a 51% equity |
| The final deal offered by | Kevin Harrington and Daymond John |
| Net worth before Shark Tank | $800,000 |
| Net worth after Shark Tank | 1.5 million dollars |
| Business Status | In Business |
| Website | Nubrella.com |
| Email Address | [email protected] |
| Watch on | Amazon Prime |
How Did The Nubrella Company Get Started?
Alan got the idea for Nubrella when he saw people struggling with regular umbrellas outside his store in 2002.
Alan spent three years perfecting the design. He made 11 changes before creating the final prototype. The Nubrella is a foldable umbrella with shoulder straps for hands-free use. It is designed to withstand heavy rain, snow, sunlight, and 35 mph winds.
Alan invested $900,000 and partnered with Chinese manufacturers to produce it. In 2009, he launched Nubrella and sold 3,000 units in the first year without any marketing expenses. As it gained popularity online, Alan patented his designs in the US and Europe.
How Was Nubrella On Shark Tank?
Nubrella appeared on Shark Tank during Season 1, Episode 14. After Alan’s innovative umbrella gained worldwide attention on social media, he got a lot of orders due to price drops from 47 countries. As a result, he needed more capital to fulfill the demands.
So, he went on Shark Tank to ask for $200,000 in exchange for 25% of his business. The Sharks thought Alan’s product was interesting. Barbara Corcoran and Robert Herjavec saw it as a good sports umbrella, but they weren’t sure it could beat regular umbrellas.
Kevin Harrington liked the idea and offered Alan $200,000 for 65% of the business. Alan wanted to keep more ownership, so he said no and offered $200,000 for 35% equity.
Then, Daymond John and Kevin Harrington offered $200,000 for 30% each. Alan didn’t like that either, so he countered with $200,000 for 50% equity. In the end, they settled on a deal of $200,000 for a 51% share of the company.
What Happened to Nubrella After Shark Tank?
According to multiple reports, Nubrella after Shark Tank, had to face many challenges with its design, growing consumer base, and investors.
Sadly, Alan couldn’t close the deal with Daymond John and Kevin Harrington. Kevin backed out because he thought the product was too expensive for his business. Then, Daymond’s attempts to connect Nubrella with bigger retailers didn’t work.
According to reports in the Boston Globe, Alan sued the Sharks and the show’s producers in 2016 because they didn’t keep their promise to invest in Nubrella. They settled the lawsuit by giving Alan $20,000.
Afterward, producers asked Alan to return for another episode. Alan said the producers told Daymond John to find a distribution partner to make it look like things were going well. But that partner, Sharper Image, had gone bankrupt.
Furthermore, as the show continued to telecast the old episode, it became harder for Alan to explain to customers why the product now costs more. So, Alan filed another lawsuit against the producers of Shark Tank and Sony Pictures Television. Unfortunately, Alan lost that case in court.
Another problem was the initial design of the Nubrella. Customers complained that the weird shape of the umbrella made it hard to see, talk, or breathe.
So, Nubrella teamed up with ROBRADY Design Studio to create a backpack-style umbrella. This design provided higher stability to its users. The designers also reduced the size of the hood so that users could see clearly and talk freely.
What Is The Net Worth Of The Nubrella Company?
When Nubrella first showed up on Shark Tank, its value was $800,000. But nowadays, Nubrella’s net worth is about $1.5 million. In 2023, Alan Kaufman had a net worth of $1,000,000.
Is Nubrella Profitable Today?
Nubrella today has developed into a renowned and successful company. Even though the company faced many challenges, they were able to develop multiple models of their hands-free umbrella, including the following.
- Nubrella Standard
- Nubrella Sport
- Nubrella Pak
- Nubrella Kids
- Nubrella Storm
- Nubrella Sun.
In 2015, the company got a U.S. Utility Patent for the second version of Nubrella. They sold over 700 of the new umbrellas in all 50 states of the USA. Moreover, they shipped 17,000 products to 86 countries around the world.
Alan mentioned that the company’s website gets about 4,000 visits from customers every day. To deal with the costly $65 shipping cost, Alan set up warehouses in Europe, Hong Kong, and the United States. In 2020, Alan decided to rebrand the company and gave it a new name, “The Canope.”
As we wrap up our exploration of innovative weather protection solutions and entrepreneurial success, let’s take a look at the Shark Tank Mexico cast and their net worth in our Shark Tank Mexico cast and their net worth article. Discover the financial achievements of the show’s entrepreneurs. Additionally, for those interested in the Shark Tank Australia cast and their net worth, don’t miss our Shark Tank Australia cast and their net worth article, where we share insights into the financial success of the Australian Shark Tank participants.Final Words
Nubrella has come a long way despite facing many challenges. According to the Business Journal, they raised a total of $750,000 in funding over the years. In 2015, the company sold 500,000 units of their products worldwide.
Nubrella has developed multiple modified versions of its products. These umbrellas have a price range of $59.99-$79.99. In 2020, they rebranded themselves as “The Canope.” You can find their products on Amazon and their official website. That’s all on the Nubrella Shark Tank update to date.
