Entrepreneur Ani Armstrong and her business partner Bryan Visintin pitched their bike seat during
If you’re short on time, here’s a quick overview of what happened to VSEAT after
Ani Armstrong and Bryan Visintin appeared on
| Shark: | Result: |
| Robert Herjavec, Kevin O’Leary | Accepted deal for $200,000 for 25% equity |
| Lori Greiner | No offer |
| Barbara Corcoran | No offer |
| Mark Cuban | No offer |
Shark Tank VSEAT Update
- Entrepreneurs: Ani Armstrong and Bryan Visintin
- Business: Bicycle seat
- Ask: $150,000 for 5% equity
- Result: $200,000 for 25% equity
- Shark: Robert Herjavec and Kevin O’Leary
Typical bicycle seats can be really uncomfortable because they put too much pressure on nerves and arteries, restricting blood flow. That’s why Ani and Bryan designed a new kind of bicycle seat called VSEAT.
VSEAT is the first noseless and bumbles bicycle seat of its kind. Additionally, it’s economically designed to support your bottom for long rides.
Further, the padded seat is designed in such a way that blood flow will not be restricted for either women or men. It also has a gripping quality to it, which keeps you from sliding during your ride.
More features include the ability to adjust the seat and a durable build. Best of all, according to Bryan, you don’t have to wear padded bike shorts if you own a VSEAT.
At this point in the pitch, Ani and Bryan invite Kevin O’Leary and Barbara Corcoran up to demonstrate and try out the VSEAT. After sitting on a traditional bicycle seat first, they both declare that the VSEAT is much more comfortable.
After testing the product, the sharks are ready to get down to business. VSEAT retails on the company website for $119 and costs $24 to manufacture and distribute. In terms of sales, in the last three years, they’ve sold over $300,000.
Of that, $26,000 came the year prior to filming. That said, in the current year of filming, they’ve already sold $270,000.
The difference, Ani says, is that they finally began advertising on Facebook and Instagram. With that, sales blew up.
Barbara then asks the duo if they have their own money in this business. Ani shares that she and Bryan have invested $500,000 of their own funds.
Kevin raises concerns about being in the retrofit market. Likewise, Mark Cuban suggests finding bike manufacturers to license the seat to.
Ani and Bryan share that they haven’t yet taken this approach. However, they are not against it.
Mark mentions that he’s already partnered with Guardian Bikes, which makes a product to improve bicycle safety. That said, the company has had a difficult time getting big bike companies to agree to license the products because the margin of bikes is so small.
Since the big brands don’t want to add additional costs by improving designs, even where additional safety is involved, Mark ultimately goes out.
Kevin jumps in with the first offer of $150,000 for 20% equity in VSEAT.
Robert Herjavec offers $150,000 for 15% equity, undercutting Kevin’s offer.
Barbara says that though the seat is comfortable, it doesn’t look like it is, and this ultimately works against them. For that reason, she goes out.
Lori Greiner thinks that Ani and Bryan already have two great offers. Therefore, she goes out next.
Ani then counters Robert with 12.5% equity, but she says no. He has already made a better offer than Kevin, and he believes that it reflects a fair evaluation.
At this point, Bryan asks if both Kevin and Robert would go in together, and the sharks agree but say that it’ll have to be for 25% equity.
Then, Ani asks if they would do the 25% equity for double the money, but the sharks say no. That said, they agreed to give Ani and Bryan $200,000 for 25% equity.
After a brief moment to discuss the terms, Ani and Bryan accept the deal. Keep reading our VSEAT update to find out what happens next!
In terms of a VSEAT update, the company received a nice boost in sales after airing on
The company website has several reviews and even a doctor’s endorsement, so you can see for yourself if the VSEAT is for you.
Once the dust settles, we will circle back for another VSEAT update to see how things are going.
In the meantime, you can check out our other company updates from Season 15, Episode 20, by following the links below!
For even more on companies and products, be sure to stop by our Season 15 Products Page before you go!
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