Last Updated on September 20, 2023 by Benjamin Mulany
In the ever-evolving landscape of innovative gadgets and accessories, Flipstik has emerged as a game-changer. This synthetic adhesive, designed to allow users to attach their mobile phones to flat surfaces, has not only revolutionized the way we use our smartphones but has also become a financial success story. As of 2023, Flipstik net worth is estimated at $25 million USD and the person who started Flipstik, Akeem Shannon is making good profits with this product.
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|Season 12, Episode 4
For inspiring inventors and entrepreneurs, Flipstik’s journey is a testament to the power of innovation, determination, adaptability, and success.
What Is Flipstik Net Worth In 2023?
One of the most remarkable aspects of Flipstik’s journey is its net worth growth. Starting with a business valuation of $500,000 before its appearance on Shark Tank, Flipstik has witnessed significant financial expansion:
These figures reflect the company’s ability to adapt, grow, and capture market demand. Flipstik’s innovative approach to smartphone accessories has resonated with consumers, propelling it to impressive financial heights.
Disclaimer: The information provided in this post is based on available data online through various sources. While we strive to offer accurate and up-to-date information, we cannot guarantee the current accuracy of details. This information is for educational purposes only and should not be considered as facts.
Who Is Akeem Shannon Flipstik Founder?
Behind Flipstik’s success is Akeem Shannon, a visionary entrepreneur who was inspired by his uncle, a NASA engineer. It was this family connection that introduced him to the world of synthetic setae adhesive, the technology at the core of Flipstik’s functionality.
Akeem’s story is a reminder of how personal experiences and familial influences can drive innovation and entrepreneurship.
Akeem Shannon’s resilience, combined with his sales expertise and innovative thinking, has played a crucial role in Flipstik’s journey from a Kickstarter project to a multi-million-dollar business.
The Journey of Flipstik
Flipstik was born out of the creative mind of its founder, Akeem Shannon. A native of St. Louis, Missouri, Akeem’s journey to entrepreneurship was marked by challenges and resilience. He started his academic path by studying chemical engineering at Howard University, but his scholarship was lost due to struggles with depression and a penchant for partying.
Before diving into the world of entrepreneurship, Akeem worked in various sales roles, gaining valuable experience that would later serve him well in his business endeavors.
In early 2018, Flipstik came to life. It was not just another smartphone accessory; it was a revolutionary product that employed space technology to create a reusable and situationally adjustable adhesive.
The journey began with a successful Kickstarter campaign in the same year, where Flipstik raised over $10,310 from 460 backers.
This initial success was a sign of things to come for the innovative gadget. Flipstik’s unique adhesive technology caught the attention of consumers looking for a convenient way to mount their smartphones without hassle.
Flipstik Shark Tank Success: Lori Greiner’s $100,000 Investment
One significant milestone in Flipstik’s journey was its appearance on Season 12 of Shark Tank in November 2021. Akeem Shannon’s pitch was nothing short of memorable; he presented the product in an astronaut suit and even used a rap song as part of his pitch.
The sharks were intrigued, and Lori Greiner offered a $100,000 investment for 25% equity in the company.
However, while the deal was accepted on television, it did not ultimately close. Flipstik is not listed among Lori Greiner’s investments, raising questions about the outcome.
It is suggested that Daymond John’s involvement and ownership of a similar product called Love Handle may have influenced the decision not to proceed with the deal. Despite this, the exposure on Shark Tank was a significant boost to Flipstik’s sales and visibility.
If you like Flipstik, here is another start-up “Scrub Daddy” in which Lori Greiner invested in.
Flipstik Achieving Milestones
- After Shark Tank, Flipstik shifted its focus to direct-to-consumer sales through GetFlipstik.com, allowing better control of its brand image and customer experience.
- In 2021, Flipstik secured a $50,000 grant from the UMSL DEI Accelerator program, aimed at promoting diversity, equity, and inclusion initiatives.
- With the grant’s support, Flipstik expanded its reach, making its products available in 300 Target locations.
- Flipstik also entered the Amazon marketplace, earning an average star rating of 3.6 from 541 reviews, showcasing its product’s utility and quality.
- While reported figures on annual sales vary, estimates suggest Flipstik’s annual sales are approximately $5 million, although some sources indicate a more conservative estimate of $1 million in annual revenue.
- Despite variations in sales figures, Flipstik’s value continued to grow, with the latest fundraising round valuing the company at $5 million.
Frequently Asked Questions (FAQs)
Is Flipstik Making Money in 2023?
Yes, Flipstik is making money in 2023 with the reported estimated annual sales revenue that may vary from $1 to $5 million USD.
How Much Investment Did Lori Greiner Put Into Flipstik?
Lori Greiner offered a $100,000 investment for 25% equity in Flipstik during its appearance on Shark Tank in November 2021. However, the deal with Lori Greiner and Flipstik did not close, and Flipstik is not listed among her shark tank investments.
Who Owns Flipstik in 2023?
There is no complete information about the ownership of Flipstik in 2023. The founder of Flipstik is Akeem Shannon, however, we do know that he owns the majority of stakes in the company.
Final Thoughts: Flipstik Net Worth
Flipstik journey is a testament to the power of innovation, perseverance, and adaptability in the world of entrepreneurship. From its humble beginnings as a Kickstarter campaign to its appearance on Shark Tank and subsequent growth, Flipstik has become a household name in the world of smartphone accessories.
As of 2023, Flipstik net worth is estimated at $25 million and with a trajectory of consistent growth, this venture continues to be a shining example of how a simple yet innovative idea can transform into a thriving business. As Akeem Shannon’s journey shows, success often comes to those who are willing to take risks, learn from setbacks, and persist in pursuit of their vision.
As Flipstik continues to evolve and capture the hearts of consumers, it remains a fascinating case study in the ever-expanding world of tech gadgets and accessories. Keep an eye on this innovative adhesive—it may have more surprises in store for the future.
Benjamin writes and conducts research for AllAboutNetWorth. Ben is a young Canadian man who is now exploring the world. He enjoys both eating and tourism. Benjamin has a strong love for inspiring others to pursue their ambitions. He has explored his interests, vocations, and finances for more than five years. The writings and publications on AllAboutNetWorth are the brainchild of Ben.