Summary
- Moki Doorstep, a car roof access tool, received a $3 million deal on Shark Tank.
- The Browns initially sought $150,000 for 5% of their company, but Daymond bought the whole company for $3 million.
- Moki Doorstep found success with Rightline Gear, appearing on Amazon and in sporting goods stores.
The Moki Doorstep is a very clever business that received an unusual but generous offer from one of the Sharks when they appeared on the show. The American adaptation of Dragon's Den, Shark Tank, premiered on August 9, 2009. Since then, a wide array of pitches, inventions, and businesses have been featured on the show. There have been plenty of rejected Shark Tank ideas that have gone on to be successes and many seeming "heroes" that ended up "zeroes".
Each Shark on Shark Tank has their own way of doing business and their own specialties. It's when their areas of expertise overlap that viewers get to watch the always-enjoyable experience of two moguls battling it out over an excited entrepreneur's business. Each entrepreneur wants something different when they come on the show, whether it's a partner, seed money, or connections, and some want something more. Some of the biggest deals on the show have come from unexpected offers by the Sharks, and that's exactly what happened with Moki Doorstep.
Related
Scrub Daddy is one of the most successful products to come out of Shark Tank and the company has a significant net worth from its impressive sales.
Alyssa And Zach Brown Invented Moki Doorstep To Help Them Go Camping
In season 10, episode 9 of Shark Tank, Zachary and Alyssa Brown came on the show with their Moki Doorstep business seeking $150,000 for 5% of their company. The Moki Doorstep is a small, metal platform that can easily hook into the bolt of a car door, which is required to hold 2200 pounds. With the step secured, any car owner can easily reach the top of their vehicle. The inspiration for the outdoorsy couple's product came about when the 5'0" Alyssa struggled to secure their outdoor gear to the roof of their car when they wanted to go on trips.
It's one of the rarest things to appear on Shark Tank: an original, clever, and simple idea.
It's one of the rarest things to appear on Shark Tank: an original, clever, and simple idea. Before appearing on Shark Tank, the couple began a Kickstarter for the product, exceeding their goal of $2000 with $116,000 pledged. Despite no actual sales history, the Browns had a term sheet to license Moki Doorsteps for 7 years worth $3 million. Another caveat: Zachary's uncle got a royalty of $1 per sale for 18 years.
Moki Doorstep Made A Deal With Shark Tank's Daymond For $3 Million
Daymond Offered $450,000 Before Deciding To Buy The Whole Company
The Sharks were all immediately interested in the product but some of the terms were worrying. Kevin feared that imitators would appear the moment Moki Doorstep went into stores while Robert believed that the Browns should just take the licensing deal. However, Daymond offered $450,000 for 20%. Then Zachary revealed they would be willing to sell the company for $3 million, which perked everyone up. Daymond was the first to jump on it, and Zachary barely hesitated before locking in the deal.
Shark Tank Blog confirmed that the deal eventually went through, and Daymond even managed to get the licensing deal wrapped up between when the episode was shot and when it actually aired. He, Alyssa, and Zachary went on The View in June 2019 to discuss the product. Daymond shared his plans for the product after the deal went through and said that he wanted the Browns to be still involved in the company.
Moki Doorstep Also Found Success With Rightline Gear After Shark Tank
Moki Can Now Be Found On Amazon And In Sporting Goods Stores
Eventually, the Moki Doorstep was licensed to Rightline Gear, which has been a huge success (via Starter Story). The partnership has gotten the Moki Doorstep into Amazon, Dicks Sporting Goods, REI, Pep-boys, and other retailers. Kevin's prediction of knockoffs did come true, as Zachary said that he's had to remove over 9,000 knockoff listings off the internet, basically a full-time job. It seems like it's been the Browns' biggest frustration, as he tells Starter Story,
"With the success that I had, also came the infringers. It is important to understand that while you may have a patent it is extremely expensive to enforce. Given the cost, I have found some conventions and a few non-conventional ways to protect my IP. I hope to share these strategies and techniques to inventors and entrepreneurs in the future."
The Browns advocate a lot for their product, but soon after their appearance on Shark Tank, they were already discussing their hopes to eventually step away from the company. Appearing on the Pickler & Ben show, Alyssa said,
"We both enjoy our jobs and working in the community and making a difference that way. So regardless of selling the company or keeping the company, it was still something that was kind of on our back plates, and we wanted to keep our main jobs."
When asked if they planned on inventing more stuff, Alyssa responded,
"I hope not!"
The Browns were more than happy to take the money and bragging rights as one of Shark Tank's biggest success stories and slowly work their way out of Moki Doorstep.
Shark Tank
Reality
Where to Watch
- stream
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*Availability in US
Several successful investors and financial moguls sit in on pitches from professional and amateur American entrepreneurs in Shark Tank. This reality television series sees a group of five "sharks" who give hopeful people with a dream a chance to secure funding and support from some of the most well-known figures in the business world. Products and services come from all over as the sharks judge and try to determine if the pitches are investable.
- Cast
- Mark Cuban , Kevin O'Leary , Daymond John
- Release Date
- August 9, 2009
- Seasons
- 16
- Showrunner
- Mark Burnett
