YoNo Clip Net Worth in 2024: Michael Green and Bob Mackey showed off an amazing and useful tool in Season 12 Episode 12 of Shark Tank for people worried about their carry-on bags outside their businesses. Their creation, the YoNo Clip, is great for keeping your bags in place.
People who use it can ensure their things are safe and clean. Michael and Bob are looking for a $150,000 investor who will give them 15% of the business. In this YoNo Clip Shark Tank Update, let’s find out more about the product, how it works, and its history.
Last but not least, will they close the deal? Let’s find out. People today are more aware of germs and how to keep themselves clean.
That’s why Bob Mackey and Michael Green made the YoNo Clip, a suction hanger that keeps things from touching surfaces that are dirty. They made a deal with Daymond John on Shark Tank. In 2024, YoNo Clip is likely to be worth USD 400,000.
YoNo Clip Net Worth in 2024
Somebody gave Michael Green and Bob Mackey $150,000 in return for 15% of their company, YoNo Clip.
In other words, they thought their business was worth $1 million, as per reports of Shark Tank Insight. They agreed to give Daymond John $150,000 in exchange for 30% of their business. Their business was worth $500,000 after this new deal.
The show made YoNo Clip’s website, sales, and social media awareness go up a lot after it aired. YoNo Clip’s net worth is now about $605,000, based on a growth rate of about 10% per year, which is normal for businesses.
Is YoNo Clip still in business?
YoNo Clip still has a website and an Instagram page, but it doesn’t look like it’s doing very well. It looks like the product is only sold on its website.
It could have been sold at other online stores like Amazon. But when you look for “YoNo Clip” on Amazon, you get results for items that are similar.
Two things that the company seems to have done badly were customer service and shipping time. On Shark Tank Shopper, a lot of people who ordered in early 2021 still didn’t seem to have their items months later, and they still hadn’t heard from the company even after contacting them.
Someone who did get an answer said they were told the delay was because of a problem with production. That being said, some customers who got the goods didn’t seem too happy with it either. They also said that the business switched from a.com name to a.net domain.
Both are used for business, but.com is usually the better choice for people who run a commercial business because it is seen as more professional.
What is the business YoNo Clip all about?
YoNo Clip is a product that helps keep personal items off the ground when out and about. It is a clip that suctions to any non-porous surface like tables, walls, etc. to hang bags or other belongings.
The product was created by Michael Green and Bob Mackey, who pitched it on Shark Tank in 2021. They secured a $150,000 investment from Daymond John for 30% equity. At the time of their Shark Tank appearance, YoNo Clip had only been selling for 2 months with $4,500 in sales.
The clip retails for $20 and costs $10 to make, but with investment, they planned to reduce costs to $5 per clip by purchasing molds to increase production. As of 2024, YoNo Clip is still in business with an estimated annual revenue of $400,000.
However, the company faced supply chain issues during the pandemic and competition from knockoffs. Their social media hasn’t been updated since February 2021, but products are still available for purchase on their website in pink and red colors.
Update of YoNo Clip on Shark Tank
YoNo Clip, which appeared on Shark Tank in Season 12, has had a modest journey since its pitch. The entrepreneurs, Michael Green and Bob Mackey sought an investment of $150,000 for 15% equity and ended up securing a deal with Daymond John for $150,000 in exchange for 30% equity.
Current Status
As of 2024, YoNo Clip remains in business with an estimated annual revenue of around $400,000. However, the company has not seen significant growth since its appearance on the show.
They initially faced challenges related to supply chain disruptions during the COVID-19 pandemic and competition from knockoff products.
Product Availability
Despite these challenges, YoNo Clip products are still available for purchase on their website, with options in pink and red. However, their social media presence has not been updated since February 2021, indicating a lack of active marketing or engagement with customers.
Customer Feedback
Customer experiences have been mixed, with some expressing dissatisfaction regarding order fulfillment and product effectiveness. There have been reports of delayed shipments and a lack of customer service response, leading to frustration among buyers.
Overall, while YoNo Clip continues to operate, it appears to be functioning more as a side business than a full-fledged enterprise, aligning with some initial concerns raised by the Sharks during their pitch.
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