1/14/2024 0 Comments Water hose connector shark tank![]() His connectors have 7 US and international patents and getting those squared away takes time – and money. The reason it took three years to get from the Shark Tank to real distribution is Melni’s attention to detail. It was interwoven like a Chinese finger trap – the more you pull, the tighter it gets. ![]() “I was visualizing copper wire twisting around a drill bit. Mark worked with his dad at a charter bus company in Santa Barbara where he was exposed to “all things mechanical.” That’s where he first envisioned the Melni Connector. “It’s been a long time since I had my AHA moment,” he explains. Melni recently shipped their first order. The Chicago-based company gives Melni 30 plus sales agents in the field who’ll sell to wholesale electric supply distributors across the USA. Electrical connector distributor Remke also invested in Melni Connectors. “When the company’s value reached $15 million,” says Melni, “Mark invested an additional $1 million.” Cuban isn’t the only new investor. Melni likes Cuban’s input, but he also likes his cash. He does it all himself and I can’t for the life of me comprehend how he does it.” Melni Connectors Update on the Deal Sometimes it’s hard to understand how he responds to us and his other entrepreneurs so quickly. Mark Melni has nothing but praise for Cuban. That’s why he invested $500,000 for 12% of the business – with an option to buy additional shares. “I never heard the term FOMO before we went on Shark Tank,” Melni explains.” For whatever reason, Cuban knew Mr. Melni, who carries one of his connectors in his pocket every day, is animated and excited about his company the day we spoke. It wasn’t a typical Shark Tank deal, in fact, Mark knew nothing about the business of electrical connectors at all, he invested because of “FOMO” or Fear Of Missing Out. Since making a deal with Mark Cuban in season 6, there hasn’t been a lot of news in Shark Tank circles about this deal. The good news is that with two sharks on her team, Bianca will be able to spread the word about her company faster than she would have been able to! We will keep you posted on future Fire Fighter 1 updates! In the meantime, you can learn more on its official website.I talked to Mark Melni not too long ago to get a Melni Connectors update. However, as Mark and Lori pointed out, it will take some time to educate the market on the need for the product, and being on the show will certainly help! The truth is that the company’s product is incredibly niche, so it may not be super successful even after appearing on Shark Tank. ![]() Let’s quickly discuss the Fire Fighter 1 update now that the episode has aired! Bianca quickly accepted their offer and a preliminary deal was established between Fire Fighter 1 and the pair of sharks. Lori Greiner and Mark Cuban decided to team up and offer $150,000 for 25% equity. With less than 50 units sold, there was no doubt that the lifetime sales numbers were incredibly small. ![]() The company had only existed for a few months and launched in February 2022. One of the problems was that Bianca’s business was so new. Since the product seemed to be directed at such a niche market, several of the sharks dropped out. While the margins seemed reasonable, the sharks weren’t sure just how common this type of product would be needed. The landing manufacturing costs are just over $100 per unit. Shark Tank Fire Fighter 1 UpdateĪ single unit from Fire Fighter 1 costs about $500 for customers to purchase. Let’s see if she can strike a deal before we cover the Fire Fighter 1 update after Shark Tank. The sharks seemed interested, but it’s admittedly a niche business idea. Bianca Wittenberg and her father developed an adapter and a hose that quickly allows individuals to access their pool water in the event of an unexpected fire.
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