Whatever Happened To Draft Top After Shark Tank?
Over its dozens of episodes, "Shark Tank" has featured many innovative (and sometimes downright wacky) business ideas throughout its 13 seasons on ABC. There have been massive success stories, like Tipsy Elves holiday apparel or Scrub Daddy sponges, whose products have gone on to become household names in the U.S. Additionally, viewers have watched Sharks like Mark Cuban, Barbara Corcoran, Daymond John, Lori Greiner, Kevin O'Leary, and Robert Herjavec turn down some simply one-of-a-kind pitches they may not have made for solid business ideas, but they made for entertaining TV.
More recently during Season 12 of "Shark Tank" in 2021, business duo Patrick Parizo and Armand Ferranti traveled from Long Branch, New Jersey to introduce the Sharks and viewers to the Draft Top. The tool featured four rotational blades that split and folded the lid of cans, resulting in a topless lid with smooth edges that you can drink from. The gadget had some functional issues — almost all of the sharks struggled to open a can during the presentation. However, mostly thanks to a reported $1.6 million in sales in eight months, John invested $300,000 in Draft Top in exchange for 20% equity.
Now that some time has passed, it's probably a good time to take a look at whether "Shark Tank" helped Draft Top sink or swim.
Draft Top is improving and succeeding
Draft Top as a business is alive and well, and the product has evolved a bit from its iteration on "Shark Tank." The company is now selling the third rendition of the Draft Top, which has an elevated user experience, for $25 apiece. Immediately after the episode aired, the brand boasted sold-out inventory on its Instagram page. While Daymond John pledged the $300,000 during the episode, there isn't evidence that the deal closed. Shark Tank Blog reached out to Draft Top directly to ask about the deal, but they didn't disclose any details about the deal with the Shark. However, the company has reportedly grown and is sustaining $3 million in sales every year as of May 2022, and Shark Tank Blog suspects the deal with John was finalized at some point.
Draft Top boasts more than 20,000 followers on its Instagram page and an ever-expanding product line. They have released the Draft Top can opening device in multiple colors and patterns for different occasions. Additionally, outside of the flagship gadget, the brand sells merchandise like koozies, apparel, stickers, and more.