The market for smart luggage is booming and is expected to grow further through 2027. That would be good news for Trunkster if it were still in business. Trunkster’s net worth was estimated to be $30 million when it appeared on Shark Tank in 2015. The company appears to be out of business at the moment. Although its website is still accessible, the page does not load. According to reports, the company’s social media pages have also gone dark.
According to the website Shark Tank Tales, which follows businesses that have previously appeared on the show, co-founder Jesse Potash is missing. Gaston Blanchet, the other co-founder, left Trunkster and is now working for a mobile app company.
Who Created TrunkSter, and when?
Trunkster was founded in 2014 by Jesse Potash and Gaston Blanchett. Potash and Blanchett’s goal was to bring innovation and change to the luggage industry by incorporating modern components into the Trunkster.
Trunkster’s founder launched a successful crowdfunding campaign on Kickstarter and Indiegogo in 2015. They could generate more than $3 million from over 7000 people.
Trunkster Net Worth 2022
Trunkster appeared on Shark Tank in 2015 and requested $1.4 million in exchange for 5% of the company. Mark Cuban agreed to invest $1.4 million in the startup and give Trunkster 5% of the company’s stock after the pitch. Unfortunately, this deal did not work out, and Trunkster is no longer in operation. While increasing their net worth, the founders have been working on other projects. However, it is difficult to estimate Trunkster’s net worth at this time.
Trunkster’s founders have already sold $2 million in products and plan to ship 5000 units by next month, generating a $9 million profit. Lori, on the other hand, believes this is an unrealistic valuation. She believes that $1.4 million is excessive for a third of the company. Jesse, on the other hand, insists on being willing to bargain. It’s critical to understand Trunkster’s net worth and how much money they’ve made in the last year.
Trunkster is now valued at around $30 million after appearing on Shark Tank and raising $1.4 million. Jesse Potash and Gaston Blanchett own the company. Their product is a “smart suitcase” with GPS tracking and a zipperless entry. Polycarbonate and brushed aluminum are used to make their product. The luggage also has all-terrain wheels and a hidden compartment for valuables. Despite its success, Trunkster has received some criticism from customers who claim the product is ineffective.
After appearing on Shark Tank, what became of TrunkSter?
Are you someone who travels frequently and is always worried about their luggage getting stolen? If you count yourself among these individuals, then the answer to your problem is found in Trunkster.
Trunkster is a brand of luggage that manufactures smart luggage with built-in features such as a roll-up design, a weighing scale, and USB ports to help you charge your electronic devices while you are traveling. These features are all included in the standard package. Trunkster was initially established by Gaston Blanchett and Jesse Potash. The founders intended to design and create a smart suitcase that could be controlled by an application downloaded to a user’s smartphone.
There are two different design options available for the Trunkster suitcase: “carry-on” and “checked.” The Trunkster suitcase is unlike traditional suitcases in that it does not have a zipper and instead opens up like a garage door. Polycarbonate and aluminum of airplane grade are the two components that go into the making of a Trunkster. In addition to having all-terrain wheels, the Trunkster suitcase also has a secret pocket that can be used to help you keep your important documents safe.
In addition to that, the suitcase comes equipped with a TSA-approved combination lock so that all of your belongings can remain safe. When the founders of Trunkster wanted to raise more capital for their company and expand their manufacturing and distribution capabilities, they contacted the television show Shark Tank.
TrunkSter: Did They Close a Deal on Shark Tank?
Yes, Trunkster attracted Lori and Mark Cuban’s $1.4 million investment for a 5% stake after being introduced by its founder Gaston Blanchet and Jesse Potash.
Is Trunkster still in activity?
Trunkster appears to have ceased operations, as the product promised in January 2016 has yet to be delivered.
One of Trunkster’s co-founders has vanished from the internet, while another has launched a new venture. Thousands of people lost money due to the founders’ lack of vision and experience.
What Caused TrunkSter’s Failure?
Unfortunately, Trunkster’s creators and backers were engrossed in fantasies about what the marketplace could have been, so the founders attempted to bring it to life on their own and failed miserably.
What is Loris net worth on Shark Tank?
Is Trunkster luggage still in business?
The founders of Trunkster had to overcome a number of obstacles before they were able to successfully launch their business. Today, the company is no longer operational, and its founders have since moved on to other endeavors and responsibilities in the industry.
Did Mark and Lori get their money back from Trunkster?
Lori and Mark both accepted Trunkster founders’ offers. Final Agreement: Lori Greiner and Mark Cuban agreed to invest $1.4 million in Trunkster for a 5% return over two years.