People with medical conditions often need to use medications, but there is no convenient way to store them. Stealth Bros and Co. has launched stylish kits that make it easier to store pills, injections, and other paraphernalia. Founder Braxton Fleming appeared on Shark Tank and struck a deal with Barbara Corcoran and Mark Cuban. As of 2024, Stealth Bros and Co. has a market cap of $500,000.
About the Founder
Braxton Fleming is a transgender man from Mays Landing, New Jersey. He was born to two entrepreneurial parents, but his father is female. However, his first career choice was nursing and he received his LPN certification from Kean University in 2008.
His parents supported his life decisions from a young age. When the New Jersey native was 27, he realized that something was missing. It was then that Braxton realized he was transgender.
During his transition, he watched videos of other LGBTQ people on YouTube. With 11 years of experience as a nurse, he noticed that most of them had unsafe medical practices, and he wanted to help.
establish a company
In December 2017, he founded Stealth Bros and Co., which aims to support underrepresented medical groups. Braxton also wants to make money to pay for surgeries and treatments to make his chest look more masculine.
Fleming did it all on his own, making a variety of stylish, all-in-one makeup bags in his basement. Braxton made enough money to pay for the surgery within the first year.
In addition to the transgender community, the product has also attracted diabetics, HIV patients and women undergoing IVF. In 2021, the company made $147,000 through e-commerce alone.
Shark Tank Appearance
In 2022, Braxton Fleming’s company was growing rapidly thanks to influencer marketing. Still, he needed to raise more money to scale up operations. He appeared on the show’s 14th season, seeking $200,000 for a 15% stake.
The pitch went well and all the sharks liked the product and its uses. Barbara Corcoran, a woman with IVF experience, was the first to make an offer. She offered $100,000 in cash and a 20% line of credit for $100,000.
Cuban spoke briefly with Barbara and agreed to team up with her to split the deal. Similar to Barbara, Cuban wanted to support the cause and was less concerned with profit. Braxton tried to fight back with an 18% interest rate, but the two Sharks players stood their ground.
After Shark Tank
As of September 2022, Stealth Bros & Co. has $110,000 in year-to-date sales, up 40% from 2021. The episode only aired on September 30, but some kit designs sold out after the show.
The company recently received a purchase order from a major retailer, which has not yet been disclosed. The products are available on Amazon and StealthBrosCo.com. They currently sell three products: Jr. Dopp Kit, Original Dopp Kit, and Stealth Sharps Disposal, which can be purchased as a set.
Stealth Bros & Co’s social media accounts have seen a significant increase in followers, with their Instagram account now having over 22,600 followers! Given that trading has only just begun, the deal with Mark and Barbara is not yet complete.
Categories: Shark Tank
Source: dut.edu.vn
