Nowadays, people are more conscious about germs and personal hygiene. That’s why Bob Mackey and Michael Green invented the Yono Clip, a suction cup hanger that keeps items from touching dirty surfaces. They made a deal with Daymond John on Shark Tank. As of 2024, the Yono Clip is estimated to be worth $400,000.
Founder Background
Michael Green and Bob McKee are from Atlanta, Georgia. Michael holds a BA in English and Linguistics from Morehouse College. He has been an educator and President of Science for Everyone, Inc. since 2001.
McKee dropped out of high school but later completed his education in college through the TED program, then became an inventor and CEO of a nonprofit called the Boys & Girls Clubs of North Central Georgia.
The two first met at a STEM festival around 2010. They were both motivational speakers who wanted to inspire young people. Through an introduction, they became close friends.
Founded Yono Clip
Bob is a fitness enthusiast who once tripped over someone’s bag on the gym floor. Instead of getting angry, he had an idea for a hanging device. At first, he sketched it on a paper towel and thought it was a great device. So he posted the idea on Facebook.
The post received a lot of comments, but the most insightful one came from Michael Green. With that, the two Atlantans teamed up to develop the Yono Clip, a suction cup-based hanger that can be attached to nearly any type of vertical, horizontal, or diagonal surface.
The guys made the first batch of products using a 3D printer and released them in 2020. The startup raised $10,000 on Kickstarter in one day and achieved $14,500 in sales two months after its launch.
Pitching on Shark Tank
Michael and Bob wanted to move from 3D printing to molded manufacturing. The company needed to raise capital and appeared on Shark Tank Season 12, asking for $150,000 for 15% equity.
The entrepreneurs gave a spirited presentation that excited the sharks, and when they got down to business, the sharks were impressed with how much they had accomplished in two months.
However, several of the founders thought the item was impractical and backed out. Inspired by their story, Daymond John offered $150,000 for a 30% stake. The founders tried to argue but eventually agreed to the deal.
Post-Shark Tank Updates
Sadly, not much has been heard about the Yono Clip since its Shark Tank appearance. Like many businesses, Yono Clip’s production and shipping have been impacted by the pandemic. This is frustrating considering the product’s appeal has been much greater during this time.
Some orders are delayed 30 days or more, which is probably why it has a 1.33 star rating on SharkTankShopper.com. YonoClip.net is the only place you can buy this product. They are unlikely to make the product available on Amazon until they resolve the major issues.
They have 1,500 followers on Instagram and around 2,600 on Facebook. Considering how great their promotion is, their social media following should be much higher. Yono Clip’s annual revenue is not disclosed, but it is estimated to be worth $400,000. Hopefully Yono Clip can turn the business around, as the founder is pretty likable.
Categories: Shark Tank
Source: dut.edu.vn
