The Power Pot has become a sensation in the world of outdoor camping and backpacking. Originally a Shark Tank concept, it has now exploded into major outdoor retailers and campgrounds. It was even made available in Third World countries through an agreement with Mark Cuban. The device can be used to charge cell phones, lights, and other devices. Thrasio purchased it for an undisclosed sum in March 2020.
Mark loves the product, but is still uncertain. He wants to invest $250,000 in exchange for a 20% equity stake in the company. Caleb, on the other hand, is unsure. Caleb thinks that a 20% equity stake is too high and the other sharks don’t think Caleb and David are realizing their true value as sharks. Mark stays silent until Caleb counters his offer.
The Power Pot company will cease manufacturing pots as of November 2021. They will instead focus on a booming range of products, including Luminoodle lighting, outdoor lighting, and televisions. The company has even entered the arena of plasma lighters, thanks to a deal with Mark Cuban. The product can be found at camping stores and on Amazon. Its potential is vast, as its sales are growing all the time.
PowerPot has sold over $300k worth products to date. The company plans on selling the products to developing nations. It can charge smartphones and other mobile devices via the USB connector. In addition to selling its products in the US, the PowerPot team also sells lithium batteries, portable camp stoves, and cables. These products are great companions to any outdoor activity. It’s possible that their product will be sold for at least $2 million.
The company has also raised over $200K on Kickstarter. Its product will soon be available at retail stores. With its built-in USB charger, the Power Pot can charge an iPhone six times. It can also be used as a portable grill, and heats water from any source. It will be worth $1 billion in 2021 if the product is successful. It’s currently available at Bass Pro Shops, REI, Cabella’s, and independent outdoor retailers.