Firefly Recovery Shark Tank Final Deal – SE16EP14

To all the people who work out like hell, but at the same time, need to recover their bodies for the next session, this is the right product for you. Even though it may be nothing more than a strap, this product can do wonders for you.

Key Highlights

• Anthony Kjenstad and Lauren Campbell came in with an offer of $500K for 2.5% of the share in their company, Firefly Recovery.
• Famous Olympian and Gold Medalist; Kerri Walsh Jennings uses their product.
• Rashaun and Lori secured the deal.

Recovery at Best

At the start, the presenter; Anthony stated that the even though the work out is important for every person, the recovery period has the similar importance. It’s the time when all the muscles, tissues, tendons, ligaments, and every crucial part of your body recovers.

And, even though the recovery is automatically done by our bodies over a period of time, this product can be a great catalyst in greatly reducing our body’s recovery time.

How Does It Work?

In most cases, this device is placed right below your kneecap. Even though you may use it at different place on your body, but that is not the point. Here, the most important thing to consider is that this product greatly increases the blood flow in your body.

The blood flow is directly responsible for the recovery of our body. And other than this, this device moves the blood three times faster than any blood compression technique.

Firefly Recovery Net Worth, Valuation, and More

There is no doubt that the valuation of this company was shocking, to say the least. And, sharks also saw it that way. Even though, bringing out an Olympian to the stage was impressive, but it did not change sharks mind about the valuation.

However, to justify their valuation, they had satisfactory sales. The lifetime sales of this product stood at $7.5M (click here to learn more about the product). Besides, Firefly Recovery was well on its way to $5.5M this year.

In the last 12 months, they had generated over $4M. Even with such great numbers, the company was not able to impress the sharks, and it seemed that they would go empty handed.

Nevertheless, Firefly Recovery had already been in the market, with around 800 pro and college sports teams already buying this product. Moreover, they had previously raised around $1M from professional athletes, family, and friends at $10M valuation – half of what they asked for now!

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The landed cost of the product was $17.30 and it was retailed at $48 in the market. Here, Mark raised a valid point that it was a costly process, as the $48 product only offers 15 treatments in a single pack.

And, if the athlete were to use it every day, he would be spending around $100 on recovery, and not on treatment. Here, Lori strongly opposed his idea by justifying the cost.

Anyway, let me summarize the financials for you.

Sharks Remarks

Without an iota of doubt, sharks did not like the net worth of $20M and it felt from a long way that this valuation number would be the bone of contention. And, that is what happened. Starting with Kevin, he was vocal about the valuation number as he clearly said that he did not believe that Firefly Recovery was anywhere near $20M.

Next up was Daymond, who also said that the Firefly Recovery did not have the numbers to justify their valuation, yet they are not changing their numbers. So, for that reason, he also opted out.

Then, it was Mark who also show displeasure by saying that the product price is relatively high, and the product’s target customer are thin as only rich people would be able to afford it. Since the price was an issue for Mark, he also opted out of the deal.

In the last, Lori and Rashaun offered a collective deal for $500K for 5%, $1.50 royalty, until the money is back, and then 50 cents in perpetuity. However, their deal was countered by removing the royalty of any kind and offering just 3.5% of the company.

I would’ve backed out of the deal by now, but Lori had the patience and countered once again, for 5% of the share and canceling every type of royalty involved, to which, the co-founders of Firefly Recover happily agreed.

Calling the Financial Projections

Before I wind up, below, I have calculated how the company would perform in the years to come. So, let us make some solid predictions.