Drop Stop Shark Tank Update

Drop Stop Shark Tank Update

In late 2006, Marc Newburger almost died while driving after his phone dropped into the gap between the seats. In true entrepreneurial fashion, he collaborated with his friend Jeffrey Simon to create Drop Stop – a product that would prevent things from falling into car gaps. 

What is the Drop Stop Shark Tank update now? On Shark Tank, Marc and Jeffrey got Lori Greiner to invest  $300,000 for a 20% stake in Drop Stop. Since then, Lori has helped the company expand its markets to include giant retailers like Walmart and Amazon. Drop Stop has also been featured in several publications and TV shows like CBS and NBC.  

Keep reading to learn more about Drop Stop’s story after Shark Tank, its net worth, sales, and whether it is profitable.

Drop Stop Shark Tank Profile 

Drop Stop Shark Tank Profile

Here is an overview of Drop Stop in the table below ever since it appeared on Shark Tank. 

Company nameDrop Stop
Year founded2009
FoundersJeffrey Simon and Marc Newburger
ProductSeat gap filler to prevent things from falling between car seats
Was Drop Stop on Shark TankYes
Drop Stop Shark Tank episode (US)Episode 21, season 4
Air dateMarch 29, 2013
Where can you watch it?Amazon Prime, Hulu, ABC
Asked for$300,000 for a 15% equity 
Final deal$300,000 for a 20% stake
Sharks Lori Greiner
Business statusIn business
HeadquartersLos Angeles, California
Lifetime sales$30 million plus *estimated
Go to AmazonBuy now
WebsiteVisit website
Watch OnAmazon Prime Video

What Happened To Drop Stop After Shark Tank

Soon after its Shark Tank pitch aired, Drop Stop experienced a big surge in popularity among customers. The company reported that this increased popularity translated to more than $500,000 in sales. 

In November 2013, a Drop Stop follow-up episode aired on Shark Tank, highlighting the company’s progress. The episode revealed that Drop Stop had taken a big step forward by securing an order worth more than $2 million from Walmart.

What Happened To Drop Stop After Shark Tank

During their pitch on Shark Tank, Marc and Jeffrey revealed that they mainly sold Drop Stop via their website, catalogs, and QVCs (Quality Value Convenience) TV networks. After making a deal with Lori, she helped the company diversify its markets to include the following;

  • Target
  • Amazon
  • The Container Store
  • Bed, Bath and Beyond
  • Walmart

Another Drop Stop Shark tank update is about price. At the time of pitching to the sharks, the price of Drop Stop was $20 for a pair. Since then, the company has made several modifications and improvements to the product, which have caused its price to rise slightly from $20 to $25.

Following their success on Shark Tank, Marc and Jeffrey have appeared on several TV shows and been featured in several publications. Some of the TV shows that the duo has appeared on include;

  • The Marilyn Denis Show
  • NBC’s Smart Solutions Tour
  • CBS – ‘Inventors Have Solution to Vehicles’ Black Holes’
  • ABC – ABC7 titled ‘Invention Blocks Drops into Console Crevice’
  • The Queen Latifah Show
  • The View
  • The Howard Stern Show
  • CNBC – Strange Success

Some of the publications that have featured Drop Stop after Shark Tank include;

  • Oprah.com
  • Car and driver
  • Cars.com
  • AAA New York

According to Drop Stop’s website, more than 80% of all car accidents occur when the driver diverts their gaze from the road for about 3 seconds. Since the company has sold millions of units of the product after Shark Tank, it has been directly involved in saving countless lives.

Drop Stop Net Worth

Lori Greiner’s deal to acquire a 20% stake in Drop Stop for $300,000 valued the company at $1.5 million in 2013. Since then, the company has steadily grown while generating huge revenues annually. 

Drop Stop Net Worth

Due to its steady growth, anyone looking to buy Drop Stop today must meet the huge $5 million valuation. The company’s big valuation means that its two founders are now dollar millionaires, though they still live frugally.

Drop Stop Sales Data

Drop Stop sold its product on catalogs and QVC TV before the Shark Tank episode quite successfully. However, sales skyrocketed in the aftermath of the episode, generating more than $500,000 in a short period. 

Speaking to Shark Tank, Marc and Jeffrey said they have made more than $28 million in revenue since their episode aired on the show. Since they had already generated about $1.3 million before going to the show, Drop Stop’s lifetime sales equate to well over $30 million in 2023.

Is Drop Stop Profitable Now?

When Jeffrey and Marc went on Shark Tank, they were selling a couple of Drop Stops at about $20. The entrepreneurs explained that of that $20, $10 went to the retailer, and they received $10. Since the cost of producing two Drop Stops is $4, their gross profit per pair is $6.  

Lately, the price of Drop Stop has risen from $20 to $25, increasing the profit margin for the company. Hence, we can conclude that Drop Stop is highly profitable since about a quarter of all revenue generated is gross profit. 

Is Drop Stop Profitable Now

Drop Stop Shark Tank Update – Social Media

Another Drop Stop update is that the company now has active accounts on various social media platforms such as Twitter, Instagram, Facebook, and YouTube. Drop Stop regularly posts pictures and videos on these pages to teach the public how to install and use its product.

Drop Stop’s social media pages also allow customers to ask questions, send feedback, or file complaints regarding the firm’s products.

Explore more exciting success stories from Shark Tank as we dive into the updates on Muvez and Knife Aid. Discover how these innovative entrepreneurs have taken their ideas to the next level after their appearances on the show.

Final Thoughts

Since appearing on Shark Tank, Drop Stop has been featured in various TV programs and magazines, increasing its exposure, popularity, and sales. Consequently, the company has worked out deals to have its product available in several major retail stores such as Target and Walmart. 

With over $30 million generated in revenue, it’s safe to say that Drop Stop is a highly profitable company. Due to this strong sales record, the company’s valuation has steadily grown over the years, making Marc and Jeffrey millionaires.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *