There will be a continuation of the market’s explosive growth for smart luggage until 2027. If Trunkster were still operating, this would be fantastic news. In 2015, when Trunkster went on Shark Tank, the company was valued at $30 million. It would appear that the corporation is no longer in operation at this time.
You can still get to the website, but there’s nothing there. The company’s social media accounts reportedly vanished at the same time. The Shark Tank Tales website, which keeps tabs on companies featured on the show, reports that co-founder Jesse Potash has vanished. Trunkster’s other co-founder, Gaston Blanchet, has since moved on to work for a mobile app development firm.
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Who Is the Founder Of TrunkSter?
In 2014, Jesse Potash and Gaston Blanchett established Trunkster. Potash and Blanchett created the Trunkster with cutting-edge features to usher in a new era of innovation and transformation in the baggage market.
A crowdfunding effort launched by Trunkster’s creator on Kickstarter and IndieGoGo in 2015 was a huge success. More than 7,000 people might bring in over $3 million for them.
TrunkSter Before Shark Tank
Jesse and Gaston developed Trunkster in 2014 to develop smart luggage equipped with cutting-edge technologies and convenience tools. The designers of Trunkster included a detachable battery, USB charging connector, GPS, and an integrated scale in their product.
To support Trunkster, they launched a Kickstarter campaign and received $1.4 million from 7,000 backers. The Kickstarter campaign was so successful that they were receiving thousands of pre-orders.
The company’s founder then launched a second IndieGoGo crowdfunding campaign to raise money for the device. The 2015 campaigns combined to earn Trunkster’s founders $2.7 million.
In addition to its already high value, Trunkster won Shopify’s Build a Business competition in 2015. The team even took their concept pitch to “Shark Tank” in hopes of attracting extra funding.
TrunkSter On Shark Tank
The two friends who founded Trunkster, Jesse Potash and Gaston Blanchett, went to “the shark tank” to raise money to expand manufacturing and distribution. On Shark Tank, Jesse Potash and Gaston Blanchett sought $1.4 million in exchange for 5% of the Trunkster.
The partners began their pitch by showing the sharks a demonstration of their product. They demonstrated why the Trunkster is an improvement over the standard luggage. They featured the Trunkster in both its carry-on and Checkers iterations.
The checkers variant is geared more around the process of checking in, while the carry-on version had a lightweight design for frequent passengers. The sharks were overjoyed since the luggage was made from bulletproof aluminium used in aircraft.
Kevin O’Leary, however, was taken aback by the sum and essentially called the founders insane. The owners of Trunkster told the “sharks” that they had raised $2.7 million from the crowdfunding platform, had begun production on 500 bags, and planned to send all of them by the end of December 2016.
Trunkster Net Worth 2022 – What Happened After Shark Tank? https://t.co/0YSOxS0p07
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When the Trunkster valuation was revealed to be $28 million, the sharks were faced with a difficult decision. Despite this, Trunkster’s founding duo did their best to persuade the shark that their startup was worth $28 million.
Potash even predicted that by the end of 2016, they will have made $6 million in profit off of $9 million in sales. Mark Cuban saw several problems with pre-orders and questioned the founders’ ability to run such a massive business.
Barbara, also bewildered by the appearance of the product, was the second to back out of the purchase. For a 30% interest in Trunkster, which would be worth $5-8 million at this point, Robert Herjevec gave them $1.4 million.
What Happened to Trunkster After “Shark Tank”?
In January 2016, Trunkster was expected to ship out the products to those who had placed advance orders. Although they promised to, the corporation never actually delivered. It is also unknown whether or not the clients were successful in receiving their refunds. Trunkster’s pre-order customers have a lot of gripes.
Jesse, one of the founders of Trunkster, has vanished from the online world while Gaston has propelled mankind into space. Tv. Legal action has been taken against the company’s creators by numerous people who pre-ordered the goods and/or contributed to the founders’ crowdfunding efforts.
Is Trunkster Still in Business?
Given that customers have not received the products Trunkster assured them would ship in January 2016, the company appears to have shut down. The internet no longer knows where one of Trunkster’s co-founders is, while another has moved on to other things.
As a result of the founders’ inexperience and lack of foresight, thousands of people lost their savings.
Trunkster Net Worth 2022
In 2015, Trunkster went on Shark Tank and asked for $1.4 million for 5% of the company. After being pitched, Trunkster secured an investment of $1.4 million from Mark Cuban in exchange for 5% of the startup’s capital. The partnership did not work out, and Trunkster is no longer in business.
The company’s founders have been busy building their wealth and developing new ideas. In any case, calculating Trunkster’s wealth at this time is a challenging task. The creators of Trunkster have made a $2 million profit from the sale of their products so far, and they expect to make another $9 million after shipping 5,000 units next month.
However, Lori thinks that this is too high of a price. She thinks $1,4 million is too much to pay for a 33 per cent stake in the business. Jesse, on the other hand, claims repeatedly to be open to negotiation. It is very important to know how much money Trunkster has made in the past year and how much money they are worth.
After an appearance on Shark Tank and the subsequent funding of $1.4 million, Trunkster is currently valued at over $30 million. The company is owned by Jesse Potash and Gaston Blanchett. Their “smart suitcase” features GPS monitoring and opens without a zipper.
Their product is made with polycarbonate and brushed aluminium. In addition to a lockable zippered compartment, this duffel bag features all-terrain wheels for easy transport. Although Trunkster has been widely adopted, not everyone is pleased with it. Some users have complained that it doesn’t do what it claims.