HyConn Shark Tank Update
The technology that HyConn appeared in Shark Tank with amazed everyone. It was a ground-breaking invention that could speed up the process of connecting the hose to the fire hydrant. Hence, around a minute and a half could be saved in emergency situations.
Since they could save hundreds of lives, everyone like you has got their eyes on the HyConn Shark Tank update. We all want to see this succeed and save our lives one day. However, things didn’t go as expected for the company.
Here, we will talk about the company’s update, net worth, sales data, and whether they are profitable. Furthermore, it is a flashback of the HyConn Shark Tank episode as it has been ages.
HyConn Shark Tank Profile
Before we get started with HyConn’s update, here’s a table that will give you an overview of the company’s profile.
| Company Name | HyConn |
| Founder | Jeff Stroope |
| Founded | 2009 |
| Product | Versatile hoses that could be used to connect any fire hydrants faster |
| Business Status | Not In Business |
| Episode (Shark Tank USA) | Season 2, Episode 8 |
| Asked For | $500K for 40% of HyConn |
| Final Deal | Hundred percent of HyConn for $1250,000, in addition to $100,000 per year for three consecutive years, as well as a 7.5% share. |
| Shark | Mark Cuban |
| Net Worth | $0 |
| Air Date | May 6, 2011 |
| Watch On | Amazon Prime |
| Website | Visit Website |
What Happened In The HyConn Shark Tank Episode?
It’s been so long since the startup participated in Shark Tank that people even started to question whether was HyConn on Shark Tank? Well, they appeared on the show in Season 2 Episode 8, which was in 2011.
Jeff Stroope initially asked for $500k for 40% ownership in the company. We saw Daymond John and Barbara Corcoran not believing in the product. However, Mark Cuban and Kevin O’Leary stood up and offered a deal to their founder.
Kevin O’Leary negotiated with Jeff for $500,000 for 100% of the hose attachment and a 3% share. Later on, Mark Cuban offered a deal that Jeff couldn’t refuse.
Mark offered a staggering $1.25 million for the entirety of the business. Additionally, a three-year contract of employment with a $100,000 salary as well as a 7.5% share to the company’s founder, Jeff Stroope.
This was an excellent and worthwhile deal for Jeff. And thus, he didn’t think twice and agreed to the deal.
HyConn After Shark Tank [How Are They Doing Now?]
As already mentioned before, things didn’t go as planned for the startup. Well, Jeff Stroope himself explained what happened to HyConn after Shark Tank. As per Jeff’s Facebook post, the investors backed out due to a difference of opinion between Mark Cuban and Jeff Stroope.
Thus, the company had to continue its journey on its own and find a new venture. Certainly, the fame from the Shark Tank boosted their sales, but as it was not primarily made for the mass audience, it failed.
HyConn today still has a website that exists but without any value. The video showcases how the product works and all are there. Moreover, the links to buy the pro edition and home edition are still available.
However, when you click on the “Buy Now” link, a webpage saying “this store doesn’t exist” appears. From this, we can conclude that the company has run out of business and is no longer offering service.
What is HyConn’s Net Worth Today?
When it comes to HyConn’s net worth, there isn’t much to talk about, as the company doesn’t exist anymore. Hence, we can say that the net worth is $0.
Nevertheless, if you want to dig into the past, their net worth was never stated officially. However, the deal by Mark Cuban in Shark Tank had a valuation of $1.25 million for the company.
HyConn Sales Data
Like any other company, HyConn after Shark Tank should have a boom in their sales. However, they are not a company that is meant to serve the mass audience. Rather, they are dependent on collaborating with fire services only.
On the other hand, there is a product that is meant to serve the mass audience. It is a garden hose that could be compatible with any hydrant.
Thus, this product did get some exposure from the show, but most of the people didn’t find it interesting. Well, no one wants a hose that can be connected fast and with any hydrant. Most people buy a hose that is compatible with their specific hydrant.
Nevertheless, when it comes to their sales data, there aren’t any accurate digits available anywhere. They weren’t able to continue the company after the deal went off. Therefore, the fire service deal didn’t go off, and for the consumer product, there were some sales but not enough.
Is HyConn Profitable Now?
In short, no. As per the HyConn update, the company shut down in 2015 and is no longer available. You can’t buy anything from their website, as already mentioned, and that confirms to us that they are no longer in business.
So, there’s no way a company can be profitable where there is no business. The founders may have found their alternative career choices, but the company isn’t making any money.
Conclusion
To conclude, that was all there is to know about the HyConn Shark Tank update. There is no doubt that the company had a great and prosperous ambition. However, things didn’t work out between the founder and the investors, which led to its shutdown.
Thus, the idea that we all perished, which could save our lives, might not come true any time soon. Nevertheless, don’t get deceived by their existing website. It’s just a proxy site where you can’t buy anything.
