What Happened To MyoStorm After Shark Tank?
MyoStorm After Shark Tank Update: Athletes, fitness believers, and persons with posture issues suffer muscular discomfort and pain. When it comes to reducing pain and tight muscles, the new MyoStorm meteor gadget is the best.
What Is MyoStorm?
MyoStorm is similar to a massage ball that, like the Meteor, has therapeutic effects. Joint and muscle problems can be alleviated thanks to the device’s combination of heat, vibration, and pressure.
DiPeri came up with the idea in England, but he genuinely started developing it when he studied mechanical engineering at Brigham Young University.
Who Is The Founder Of MyoStorm?
The founders of MyoStorm, Jonothan DiPeri, Shaquille Walker, and Jared Ward, are looking to convince the Sharks to invest in their company. Walker and DiPeri founded the company in the first quarter of 2018.
When both were doing mission work in England before attending university, they fortuitously crossed paths. They spoke frequently about inventing all the time and shared ambitions of working together eventually. The Meteor was one of the innovations that was developed.
Pros
Helps ease muscular stress, pain, and stiffness.
- Promotes healthier blood flow.
- Stimulates muscular tissue healing for quicker cell repair.
- Maintains energy and boosts athletic and fitness performance.
Cons
- Because of its toughness, it might be intimidating for newcomers.
- Applying too much force to a wound that is healing might cause more damage than benefit.
Know About the MyoStorm Shark Tank Update
Introducing the new Meteor product line, which MyoStorm is now marketing, has a more sophisticated design and larger dimensions than the original Meteor. Notably, the original Meteor has developed and becomes richer in color.
MyoStorm Meteor balls may be purchased for $149. However, discounts are available when purchasing a set of three.
In 2020, there was an interview on MyoStorm. There was Jono DiPeri involved. According to Jono, MyoStorm now employs 10 people and makes around $150,000 per year.
Despite the slowdown in manufacturing, new products are still in the works. The MyoStorm has the potential to revolutionize the physical treatment industry.
MyoStorm Shark Tank Update
| Company Name | MyoStorm | |
| Founder | Jonothan DiPeri | |
| Founded | 2018 | |
| Product | Pain relief products | |
| Asked For | $150k for 10% equity | |
| Final Deal | $150k for 5% + $1 royalty per ball until $500k is repaid | |
| Shark | Lori Greiner | |
| MyoStorm Shark Tank Episode | S11 E5 | |
| Air Date Of MyoStorm Shark Tank | October 27, 2019 | |
| Business Status | In Business | |
| Headquarters | Springville, Utah, United States | |
| MyoStorm Net Worth | $4.6M (Estimated) | |
| MyoStorm Instagram | View Profile | |
| GO TO AMAZON | View Product | |
Another Shark Tank Pitch:
MyoStorm on Shark Tank Pitch
Jonothan Diperi, Shaquille Walker, and Jared Ward pitched MyoStorm to the Sharks in season 11, episode 5 of Shark Tank.
Three entrepreneurs offered the Sharks a 10% interest in their $1.5 million company for $150,000.
After explaining and showing examples, the Sharks were interested in the product and marketing plan but wanted to know how it differed from comparable products.
Sharks loved margins but thought $160 was too much. Lori recommended lowering the price to $99 and cutting production costs to preserve profits.
After consulting with friends, Mark canceled his $150,000 offer for 20% company shares.
Kevin offered $150,000 for 5% stock and $1 for each ball sold until he recouped $500,000. Matt offered $150,000 for 10% stock.
Lori offered the entrepreneurs $150,000 for 5% ownership and $1 per unit royalty until she recouped $500,000.
The agreement fell through, and Lori’s website no longer mentions the company.
After the show premiered in October 2019, the company sold out of all its items on the original air date and finished backorders in February 2020.
In June 2021, the Meteor Mini, a smaller and cheaper MyoStorm, was offered on Kickstarter.
MyoStorm After Shark Tank
During the pitch in October 2019, MyoStorm unveiled its latest innovation
of its Meteor fitness tracker, version 2.0, which has USB-C charging and a heart function.
As of the year 2022, MyoStorm pays its 10 current employees an average of $150,000 a month. However, Lori Greiner paid only $99 for it rather than the stated $149.
According to CEO DePeri, Meteor stands apart from the crowd since it is the only medical device on the market that has received FDA approval.
The brand of the company experiences significant growth when customers have hands-on contact with its products during these events. Additionally, forging partnerships with athletes who endorse the brand can yield fruitful results and further enhance its visibility and reputation.
However, sales of MyoStorm increased immediately after the episode aired, as is typical, but CEO DePeri is happy with the company’s present slow but steady growth.
With the launch of numerous new products, sales are projected to reach an impressive $4 million in 2020. The introduction of these innovative offerings is expected to fuel the company’s growth significantly. According to DePeri, MyoStorm anticipates a remarkable annual growth rate approaching 100% over the coming years, indicating a strong trajectory for the business.
Is MyoStorm Still In Business?
As of 2023, MyoStorm has a yearly income of $2 million and is still growing.
MyoStorm offers a variety of tutorial videos and written guidelines on its website to help you get started with your Meteor or Meteor Mini.
MyoStorm Competitors
Chlyn Pro, Cortex Comfort, Buzzy Helps, and ADVANCE Medical Devices are just a few of MyoStorm’s main competitors.
MyoStorm Net Worth
During the presentation, the company’s worth was estimated at $1.5 million; by 2021, the company’s sales will have increased to $1 million annually. This justifies the rise in the company’s net value. The current MyoStorm Net Worth of this company estimation at $2.1 million. We do not have access to a significant amount of information on this business at this time.
Who Purchased Myostorm on Shark Tank?
During their appearance on Shark Tank, Lori Greiner was convinced to buy into MyoStorm. Greiner proposed a compelling offer, suggesting a $150,000 investment in exchange for a 5% ownership stake, along with a $1 royalty on each unit sold until she recouped $500,000. Recognizing the value of partnering with Greiner, the MyoStorm team enthusiastically accepted her proposal, sealing the deal and welcoming her as a valuable collaborator.
FAQs:
The ‘MyoStorm’ company was founded by Jonathan DiPeri, and its current CEO is Logan Carlson.
MyoStorm Net Worth of this company estimation at $2.1 million.
Yes, MyoStorm is still in business.
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