During the episode of Shark Tank, the Trunkster duo, which is made up of Jesse Potash and Gaston Blanchett, appeared on the show to secure investment. The luggage company is a smart luggage that offers GPS tracking, USB ports and a built-in digital scale. The bags are available in two designs. A carry-on model costs $495, while a checker model costs $535. The suitcase also comes with a TSA approved combination lock.
After appearing on the show, Trunkster secured a $1.4 million investment from Lori Greiner and Mark Cuban, who agreed to invest 5% of the company. The duo said that Trunkster was in business to become a success and that they were looking to generate $6 million in profit by 2016. The company also planned to produce 5,000 bags by the end of the year. However, the duo has been unable to fulfill any of the orders made from crowd funding campaigns.
According to Shark Tank Tales, Jesse Potash has disappeared from the Internet, and Trunkster’s social media pages are dark. The company’s website also does not load. The company also has no response to any of the complaints that have been made about its products.
The Trunkster co-founders failed to meet the due diligence requirement. Mark Cuban questioned whether the Trunkster co-founders were ready to take on a large company. They haven’t even closed the deal yet. He also noticed multiple problems with the pre-ordering process. This led him to ask if Trunkster was ready to move on from the valuation.
The Trunkster founders were able to secure the investment from Mark Cuban and Lori Greiner, but they never closed the deal. Instead, they moved on to other ventures. One of the co-founders has even launched a new venture. Lori Greiner stated that it was a huge ask for her to invest $1.4 million in a third of the company. She also said that the valuation was a bit too high.
During their time on Shark Tank, Trunkster was valued at $28 million. After receiving the investment, the duo announced that they were looking to bring their product to the market in January 2016. However, they failed to deliver. The products were not as good as expected, and many customers have not received their orders. The suitcases are made of polycarbonate and brushed aluminum, and they do not have zips. The suitcases are also more expensive than traditional suitcases.
Although Trunkster’s products are expected to sell well, the company hasn’t fulfilled any orders since their appearance on Shark Tank. According to reports, many customers who made pre-orders never received their orders. The Trunkster co-founders have since disappeared from the Internet.
According to the reports, Trunkster’s valuation has not decreased since its appearance on Shark Tank. However, the company has not been able to deliver on its promises, and the suitcases do not seem to be as feature-rich as other smart suitcases.
As a result, the Trunkster net worth may be at risk. The company has received a number of complaints from customers, and the suitcases haven’t been delivered as promised. The company has also gone dark on social media, and many people haven’t received their orders.