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STEs1e8 - The Shark Tank Effect Show Talks with Robert Yonover of See Rescue Streamer
Manage episode 407343185 series 3559524
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Robert Yonover pitched See Rescue Streamer during Shark Tank Season 8 and sought $200,000 for 20% equity. Unfortunately, as you’ll soon find out in our See Rescue Streamer update, Robert wasn’t able to reel in a shark despite his excellent presentation. So, how’s his company doing now?
Robert’s product, See Rescue Streamer, is a rescue signal device that anyone can use on any terrain at any time. If you’re lost or stranded, you can use the See Rescue Streamer to highlight your location. It allows you to “stand out against your surroundings,” so rescue teams can find you. It comes in two different sizes and is approved and used by the United States military.
The sharks were impressed with both the presentation and the product. They were even more amazed when Robert revealed that he’d already done millions in sales. He planned to use the investment to secure more military contracts. He also wanted to expand consumer and retail sales. Despite impressing the sharks, Robert wasn’t able to get anyone to take a bite.
Daymond John was the first to bow out because he believed that he couldn’t help Yonover with the product. Meanwhile, Lori Greiner didn’t think that the See Rescue Streamer was a mass consumer product. She went out, too.
As for Robert Herjavec, he explained that the product posed several problems on the consumer side, so he went out. Mark Cuban expressed similar concerns and went out, followed by Kevin O’Leary.
The good news is that it appears that not getting a deal on Shark Tank didn’t hurt the business at all. While researching for our See Rescue Streamer update, we found out that Robert still benefited from a huge surge in sales following his appearance on the show.
On top of this, the product was on board 2020’s SpaceX flight to the International Space Station. The company is still going strong, supplying military customers across the world, with an estimated annual revenue of somewhere around $3.9 million. So, as you can see by our See Rescue Streamer update, not every entrepreneur needs to get a deal to be successful.
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