MyoStorm Shark Tank Update
MyoStorm was created by Jonothan DiPeri, Shaquille Walker, and Joel Ward to aid muscle recovery and therapy. Being athletes, Shaquille and Joel knew how tough muscle recovery could be. So they partnered with Jonothan to create a high-tech massage ball to ease the process.
The high-tech massage ball promotes quality of life by improving a user’s flexibility, increasing blood circulation, relieving tension, and relaxing muscles. Though it was initially meant for athletes who exercise frequently, the massage ball is also effective at combating common issues like back pain.
MyoStorm’s journey started with a successful Kickstarter campaign, after which the team decided to look for additional funding on Shark Tank.
MyoStorm Shark Tank Profile
Here’s the company profile of MyoStorm in short.
| Company name | MyoStorm |
| Year founded | 2018 |
| Founders | Shaquille Walker, Joel Ward, Jonothan ‘Jono’ DiPeri |
| Product | Heated massage therapy ball that also vibrates |
| Was MyoStorm on Shark Tank? | Yes |
| MyoStorm Shark Tank episode (US) | Season 11, Episode 5 |
| Episode air date | 27th October 2019 |
| Where you can watch it | Amazon Prime, FubuTV, Hulu |
| The investment they asked for | $150,000 for a 10% equity stake in the company |
| Final investment deal | $150,000 for a 5% stake and $1 royalty on every massage ball till the amount reaches $500,000 |
| Shark who invested | Lori Greiner |
| Current business status | In business |
| Headquarters | Provo, Utah, United States |
| Website | Visit Website |
| Visit Amazon store | Buy now |
What happened to MyoStorm after Shark Tank?
In 2020, My Brand Journey interviewed Jonothan DiPeri about MyoStorm’s progress. He revealed that appearing on Shark Tank exposed their brand to a large audience, immediately boosting its visibility and appeal.
As a result of the huge brand exposure after Shark Tank, the demand for MyoStorm’s product shot through the roof. According to Jono, the company struggled to satisfy this increase in demand. This struggle forced the team to find a way to scale and grow the business to fulfill orders.
On the back of the huge spike in sales and growth of the brand, MyoStorm aimed to make about $4 million in sales in 2020. The team also hoped the company would maintain a 100% year-on-year growth rate once the sales leveled out and stabilized after the spike.
MyoStorm was able to satisfy the demand spike and fulfill all outstanding orders. It also maintained an edge in the market because of its FDA-approved product and grew to 10 employees with about $150,000 in monthly revenue.
However, the onset of the Covid-19 pandemic marked the beginning of a rough period for everyone, and MyoStorm was no exception. With products such as the Meteor barely selling, revenue dwindled, slowing the company’s growth down to a crawl.
In 2021, MyoStorm launched a Kickstarter campaign to fund their newest product – the Meteor Mini. The campaign was a huge success, reaching the $25,000 goal within less than an hour and a half and well over $280,000 within a month.
The launch of the Meteor Mini in mid-2021 on Amazon put MyoStorm back on track. Sales were so good that the company’s total annual revenue for 2021 was estimated to be close to $1 million. As a result, MyoStorm is still growing in 2023 and is projected to continue growing steadily.
MyoStorm Shark Tank update – New products
Since pitching the Meteor massage ball on Shark Tank, MyoStorm has expanded its product range to cater to various muscle recovery needs. The team also refined their existing product – Meteor 2.0 – and released an improved version called Meteor 2.1 in June 2021.
There are six new products that have been released by MyoStorm after Shark Tank. These new products are;
- Dual layer recovery mat
- Meteor MINI recovery bundle
- Meteor Mini
- Accessory bundle
- Massage and stretch strap
- 3-in-1 recovery roller
MyoStorm Shark Tank update – Partners
Soon after getting a deal on Shark Tank, Myostorm’s founders realized they faced a big challenge managing their supply chain. As a result, they partnered with Blacksmith International, a manufacturing company headquartered in Shanghai, China.
With Blacksmith as a partner, MyoStorm’s founders are not worried about inventory issues since they have enough to keep up with any demand spikes. Hence, the team is now focused on improving the existing products while creating new ones.
The partnership with Blacksmith International also allows the team at MyoStorm to direct most of their energy toward growing their brand and bolstering the company’s reputation.
Is Myostorm on social media?
Another MyoStorm update is that the company is now present on various social media platforms such as Instagram, Twitter, and Youtube. The company posts pictures and videos on these social media pages to teach people how to use its products effectively.
MyoStorm’s social media pages are also open to customers with questions, feedback, or complaints about the company’s products.
MyoStorm Net Worth
MyoStorm’s founders valued it at about $1.5 million while seeking investment on Shark Tank. But its value fluctuated slightly during and after the covid-19 pandemic. However, following its triumphant comeback in 2021, MyoStorm today is estimated to be worth over $2 million.
MyoStorm sales data
Since MyoStorm isn’t a publicly traded company, its sales data is not publicly available. However, Jono DePeri revealed in 2020 that the company was making about $150k in sales monthly though that probably changed during Covid-19.
Zippia.com estimates that MyoStorm generates revenues of over $600k annually from all its products.
Is MyoStorm profitable?
Though MyoStorm doesn’t disclose its financials publicly, the markup per product that the team revealed on Shark Tank is very healthy. Hence, with estimated revenues topping $600k annually, there’s every reason to believe the company is in profit territory.
If you’re interested in keeping up with the latest updates from Shark Tank, you might want to check out our articles on Minus Cal and Touch Up Cup. Our Minus Cal Shark Tank update provides insights into this innovative product that helps individuals manage their calorie intake effectively. Meanwhile, our Touch Up Cup Shark Tank update explores the story behind this convenient tool for touch-up paint applications. Stay informed and discover the success stories behind these impressive entrepreneurial ventures.Conclusion
MyoStorm’s journey after Shark Tank has been challenging, but the company has proven resilient enough to build a strong brand. The company’s future looks bright, with more than six products and more to come.
