3 Facts About The Duo From Shark Tank
If you live in an especially rainy part of the world, the thought of not having an umbrella in your life is unimaginable. But while this simple yet necessary invention has largely benefited society, its limitations are hard to ignore. Among these is the difficulty of sharing an umbrella with another person. We all know the feeling. You try to share an umbrella with your child, partner, or friend, but there's hardly any room or way for both of you to hold onto the handle. However, one nifty invention aims to solve this long-standing dilemma once and for all.
The Duo makes sharing an umbrella easier than ever before with the employment of a dual-handle system. Alongside the usual umbrella handle, The Duo hides a secondary retractable extension that adds another 12 inches of grabbing space for an additional user. On top of this (quite literally), the umbrella's 54-inch canopy provides plenty of space while providing UPF 15 sun protection. People of different heights, particularly children and parents, can benefit from these enhancements with taller users able to hold the top handle and shorter ones holding onto the bottom.
The innovative item is set to make its "Shark Tank" debut on Season 15, Episode 11. Let's see what this remarkable invention has to offer and learn a bit more about its history before finding out if it catches the eye of one of the celebrity investors.
The Duo's high school-aged co-creator has won national and international acclaim
"Shark Tank" has seen its fair share of child entrepreneurs pitch on the show, from Cassidy Crowley of the Baby Toon to Jack Bonneau of Jack's Stands. But few have entered the tank with quite the same outstanding credentials as The Duo's Nathaniel Wellen.
Wellen's idea for a new and improved umbrella took form before he even stepped into high school. He presented the concept at an invention presentation event where he competed with others in his school's district. He managed to top the competition and went on to compete at the National Invention Convention. Wellen not only beat 144,000 other contestants with a second-place award for the general event, but he also won a special originality award for his unique creation. The young entrepreneur's concept was even presented on an international scale when he was invited to show off The Duo at the Global Invention Convention in 2022. Wellen currently attends Redondo Union High School, where he expects to graduate in 2027.
The product has two patents and a licensing deal
Part of what helped Nathaniel Wellen find success so early on with his specialized umbrella, The Duo, was the professionalism he showed in the process. He made an especially smart move before unveiling his creation by getting it legally protected.
Currently, the Duo holds two US utility patents. The first, issued in December 2018, covers the product's enclosed second handle and its ability to be hidden away. This patent was part of what helped Wellen win big at his middle school's Invention Convention. In September 2023, the Duo received a second patent. This patent gave the system flexibility to be used in other devices, reading, "Other embodiments are directed to other devices where the two handles can be grasped by the same or different users of the device which includes these dual handles."
The Duo even managed to get picked up by another company. It is currently one of the umbrella brands under leading rainwear provider Shed Rain. It is currently sold on Shed Rain's website for $55 and is expected to begin shipping in summer 2024.
The Duo's creator comes from a business minded family
The Duo co-creator Nathaniel Wellen has already accomplished quite a lot for his young age, and it appears that he is taking after his father. A graduate of Harvard Business School's advanced management program, Alex Wellen is currently the CEO of MotorTrend Group and has previously held positions at companies like the New York Times and CNN. Another entry on his impressive resume? He's also the chair of the board of directors of The Duo.
Not only is Alex's business acumen no doubt of great use to his son Nathaniel's burgeoning company, but it also looks like he has plenty of experience with obtaining patents. Alex currently has 30 patents to his name, two of which are the ones that were secured for The Duo, on which he's listed as a co-inventor along with Nathaniel. It would appear that savvy business sense runs in the family.
With his award-winning idea and his family on his side, no matter what happens on "Shark Tank," it looks like Nathaniel Wellen is ready to take the business world by storm.
What happened to The Duo on Shark Tank?
Nathaniel Wellen may only be 15 years old, but he enters the tank ready to wrestle a shark for $100,000 in exchange for 10% equity in The Duo. After demonstrating his innovative umbrella design, Wellen informs the sharks that while his product has yet to hit the market, he's already done a deal with Shed Rain, a leading rainwear company that sells over 15 million umbrellas globally each year. In exchange for 49% equity in The Duo, Shed Rain will help Wellen with everything from manufacturing to placements in retail behemoths like Target and Walmart.
The sharks congratulate Wellen on already nabbing what sounds like a smart deal, but for some of them, the Shed Rain partnership is their reason for backing out of negotiations. Barbara Corcoran, Mark Cuban, and Lori Greiner think that Wellen likely doesn't need a shark thanks to this deal. Cuban also points out that if Wellen were to take a deal with one of the panelists, his share in his own company would drop to under 50%. Meanwhile, Kevin O'Leary opts out simply because Wellen is still in high school, meaning O'Leary wouldn't be able to call him at all hours of the day with business concerns.
That leaves Robert Herjavec, who decides to bite with an offer of $100,000 for 20% equity. Wellen counters by lowering the equity ask to 15%, and after Herjavec brings it back up to 18%, Wellen accepts and leaves the tank with a firm grip on a deal.