Are you tired of getting wet in heavy rainfall while carrying other devices or equipment? We all desire something that will protect us from this kind of situation.
The Nubrella is a newly designed climate-control technology created by Alan Kaufman that easily outperforms the conventional canopy. He is currently in a position to require Shark funding as well as expertise to grow the company he runs.
Will Alan be able to convince the Sharks to invest in his company? Follow to know more!
Quick Facts
| Founders name: | Alan Kaufman |
| Business details: | Hands-free umbrella and windbreaker system |
| Founded in: | 2002 |
| Location : | Missouri, USA |
| Asking of Company: | $200,000 for 25% Equity |
| Accepted Deals: | $200,000 for 51% Equity |
| Shark on board (Investors): | Kevin Harrington, Daymond John |
| Shark Tank Episode: | Season 01 Episode 14 |
| Net Worth | $1.5 million |
| Business Status: | Active |
| Last Updated: | Mar 11, 2024 |
| Social Media |
About the Founder
Nubrella was founded by Alan Kaufman. The company is now entirely controlled by Kaufman and operates under the moniker, The Canopy. Kaufman created Nubrella to eliminate the strain of managing multiple umbrellas during a downpour.
Founding the Nubrella
Nubrella/Canope is a hand-free, backpack-style canopy. The non-invertible cover shields wearers from outside forces and retains its original form regardless of high gusts. The ideal all-weather security framework, the SPF-50 liner prevents harmful rays from ultraviolet (UV) rays.
Shark Tank Appearance
Following a short, convincing arrival, Kaufman presented his company Nubrella, and requested a $200,000 donation in exchange for a 25% ownership stake.
The first thing Daymond John and Robert Herjavec intended to do was to test the tool.
More than anything else, Barbara Corcoran was curious to learn how significantly the Nubrella weighed, which is two and a half pounds. However, she disqualified herself as she was skeptical about keeping pace with the conventional canopy. Herjavec adopted a similar stance, stating that he did not consider the Nubrella to be a prospective venture.
About 3,000 Nubrellas were sold, according to Kaufman, without any sort of advertising. He managed to build the Nubrella for $14 due to the new factory he had hired, and he then marketed it for $29.
Kaufman promises John that he possesses a patent from the United States and the European patent which is currently pending as he seeks the trademark matter.
Kevin Harrington offered $200,000 and swapped for 65% of the business. Kevin O’Leary interrupted, merely to say that he was unable to keep up with Harrington’s system of distribution and he departed.
When Kaufman turned back to Harrington, he said that the amount of ownership Harrington was requesting was simply too excessive and that he would be willing to raise it to 35%.
John re-entered the discussion and said he might collaborate with Harrington since they have unique commercial possibilities to provide Nubrella. For 60%, John and Harrington proposed a joint proposal of $200,000. Still not satisfied with the ownership stake, Kaufman requested that they take into account 50%.
Harrington and John changed their minds and proposed the payment of 51%. Kaufman agreed to the proposal when John promised him that he would support everything as long as revenues were strong.
After Shark Tank
The agreement between Harrington and John was not finalized. According to Kaufman, the Sharks abandoned the transaction before conducting the necessary investigation.
Kaufman voiced his concerns about Shark Tank in an array of remarks after the final episode premiered and the acquisition failed through, stating that it was a pre-written and contrived program. Kaufman filed a claim and was awarded a $20,000 payment.
Currently, the corporation is thought to be valued at $1.5 million.