Trunkster Shark Tank Update

Trunkster Shark Tank Update 2023

A portable zipperless luggage that you can control with your smartphone – sounds amazing, right? That’s exactly the idea Gaston Blanchett and Jesse Potash pitched to the sharks. The Trunkster suitcases also have other modern features such as USB charging ports, built-in scale, removable battery, and a GPS device.

As you can guess, the idea was fascinating enough to interest the Sharks. Besides, the two owners of the Trunkster initiative also claimed that the presales for these suitcases were more than $2 million.

After some negotiations, two of the Sharks, Mark Cuban and Lori Greiner, proposed a $1.4 million for a 10% deal. Was the deal beneficial? What happened to Trunkster later? Let’s take a look at the Trunkster Shark Tank update and find out!

Trunkster Shark Tank Profile

Below is an overview of Trunkster’s Shark Tank profile-

Company Name Trunkster
Founders Gaston Blanchet and Jessie Potash
Founded In 2014
Product Smart zipperless luggage with USB and tracker
Special Features of the Product Zipperless entry system, USB port, removable battery, built-in scale, and a GPS device
Appeared In Shark TankSeason 7, Episode 10
The Episode Aired onDecember 4, 2015
Investment Asked For$1.4 million for a 5% equity
Final DealInitially $1.4 million for a 10% equity, but not invested at the end
SharksMark Cuban and Lori Greiner
Pre-Sale Data$2.7 million from Kickstarter and IndieGoGo Crowdfunding
Business StatusOut of business
WebsiteNot available
HeadquartersMiami, Florida, USA 33101  
Net Worth$10 million
Watch the Episode onAmazon Prime
2023 UpdateNot in sale

Trunkster on Shark Tank Episode

As mentioned, Trunkster is a luggage company founded by Gaston Blanchet and Jessie Potash. They appeared on Shark Tank Season 7, Episode 10, pitching their innovative zipper-free luggage with USB ports and a self-contained scale. 

They initially asked for $1.4 million for about 5% equity in their company. During the show, they struck a deal with Lori Greiner and Mark Cuban for $1.4 million for 10% equity, with double equity.

Before their appearance on Shark Tank, the founders had launched successful crowdfunding campaigns on Kickstarter and IndieGoGo, raising a total of $2.7 million in 2015.

However, after appearing on Shark Tank, the deal did not make it through the due diligence phase, and neither Lori nor Mark ended up being involved with Trunkster.

Trunkster Luggage Smart Features

To suit diverse needs, Trunkster offers two primary types of luggage. The Trunkster Carry-On was a versatile and compact suitcase, whereas the Trunkster Checked Luggage was larger and more organized.

Trunkster Luggage Smart Features

Both types of Trunkster luggage have the following special features:

  • Zipperless Entry: One of Trunkster’s standout features is its zipperless entry system. Instead of traditional zippers, the luggage utilizes a sliding door mechanism. It allows for quick and easy access to your belongings.
  • USB Charging Port: Some Trunkster models come equipped with a built-in USB charging port. With this feature, you can conveniently charge your electronic devices while on the go.
  • Integrated Scale: As Trunkster luggage incorporates a built-in digital scale, you can easily avoid overweight baggage fees. By lifting the handle of the suitcase, the scale measures the weight and displays it on a small screen.
  • Tracking Device: Trunkster offers optional GPS tracking devices that can be integrated into the luggage. It allows you to monitor the location of your suitcase using a mobile app. This way, you don’t have to worry about losing your luggage ever again.

What Happened to Trunkster After Shark Tank?

After their appearance on Shark Tank, both owners of Trunkster faced several challenges. Although they had a successful crowdfunding campaign and a deal on the show, the deal with Lori Greiner and Mark Cuban didn’t meet any consequences.

Upon further negotiations after the episode, both Lori and Mark backed off and didn’t invest in Trunkster. During 2015, the company’s production rate was very low compared to the user demand.

Hence, many users have complained about not receiving the product at all after presales. Consumers who received the Trunkster luggage weren’t satisfied with its quality. However, even after reaching customer service and sending emails multiple times, they didn’t receive any response regarding the refund.

What Happened to Trunkster After Shark Tank

What’s worse, the Trunkster website has been down for quite a while now. One owner of the company Jesse Potash has disappeared from the internet.

On the other hand, the other co-founder Gaston Blanchet is working on a completely different project.

As of 2023, there are no updates or progress of the company, and no one has heard anything about the Trunkster luggage from the founders.

Trunkster Net Worth

When Trunster’s owners appeared on Shark Tank, they sought a $1.4 million investment in exchange for 5% equity in their company. Based on this valuation, Trunkster’s net worth at the time of the pitch was $28 million. 

The company received offers from multiple Sharks but ultimately accepted an offer from Mark Cuban and Lori Greiner for $1.4 million in exchange for 10% equity. So, during the show, the company was valued at $14 million.

In a recap episode aired in December 2022, Trunkster’s net worth was estimated at $8 million by Robert Herjavec. As of 2023, the company is out of business.

Trunkster Sales Data

As Trunkster hasn’t been in the business for a long time, the company’s sales data isn’t available. However, the founders pitched their pre-sales data on Shark Tank. According to the founders, Trunkster raised around $2.7 million from presales.

Trunkster Sales Data

However, as per the sources, about 70% of these Trunkster luggage was returned and the company faced a huge loss afterward. Since then, no reliable sales data has been available for the company. 

Is Trunkster Profitable Now?

No, Trunkster luggage has not been on sale since 2016, so it’s not profitable in 2023. Unfortunately, the company wasn’t able to produce and deliver a sufficient number of products. Buyers who ordered on presale didn’t receive their bags either.

Trunkster Luggage

After the first shipment at the end of 2015, a new batch was supposed to arrive in 2016. However, things didn’t go as planned due to a lack of maintenance and proper leadership. As a result, the company was closed down, and its website and social media accounts vanished.

Staying updated on the journeys of businesses showcased on Shark Tank offers valuable insights into the dynamic world of entrepreneurship. If you’re intrigued by these narratives, our coverage includes updates on Trunkster and FitFighter, as well as the captivating journey of Daisy Cakes. Our detailed article on the FitFighter Shark Tank update provides a comprehensive look at the advancements made by this remarkable company. Moreover, our coverage of the Daisy Cakes Shark Tank update offers insights into the inspiring journey of this unique venture. By immersing yourself in these updates, you’ll gain a deeper understanding of the entrepreneurial landscape and the strategies that contribute to ongoing success.

Wrapping Up!

So, that was all about the Trunkster Shark Tank update. As we’ve discussed, the Trunkster pitch on the Shark Tank was a success for the founders. Unfortunately, the company couldn’t seal the deal with the sharks and went downhill.

It failed to meet the user’s expectations and vanished in thin air only after a year of its appearance on Shark Tank. As Trunkster didn’t offer any refund or run a successful business, it’s considered one of the biggest failures of Shark Tank.

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