Most of the time, the “Tank” doesn’t help businesspeople. They have to find other ways to get money for their businesses or build them from scratch. Chiriga, on the other hand, did not have this problem. In an odd turn of events, The Floating Mug Company was on “Beyond the Tank” again.
In the episode, Chiriga saw Greiner again. This time, Greiner gave him the money he needed in return for running the business. Grieber wrote on Twitter, “I loved Tiggs & his idea when he came into the tank,” Greiner wrote on Twitter. “2nd chances really do happen!!” Unfortunately, this deal fell through, and Greiner no longer owned The Floating Mug Company.
After going on “Shark Tank,” Chiriga priced his product based on what the investors told him should be charged. As of 2018, the flying mugs were selling on Amazon for $16.99, which is a lot less than the $30 they cost at first.
In 2017, Chiriga started a new Kickstarter effort for a new design of a floating mug. However, there is no proof that the company ever sold the prototype drinking glass. Instead of white porcelain, this mug was made of clear porcelain.
Also, at 12 ounces, it had 50% more liquid than the first one. Again, the effort raised a lot more than its $20,000 goal; by the end, it had raised $35,000.
Is Floating Mug Still in Business?
As of 2023, The Floating Mug Company is no longer in business. The mugs are no longer for sale on Amazon, and the website for the business has been taken down. The company has shut down, and none of its surviving social media pages have talked about it or explained why. So, it’s not possible to say for sure why the business failed.
One reason could be that buyers were unsure about how the product looked, which hurt sales. Many Redditors doubted the product’s usefulness, even though it had mostly good reviews and a few posters had personal experiences with it. One laughed, “I would break this immediately.” and hundreds of people agreed.
Some people were afraid that the design was unstable and would fall over, or that the heat would still run down the handle and damage furniture. Even though some people said they had great experiences with the product, these kinds of questions may have hurt the company’s long-term success.
What is a Floating Mug?
The Floating Mug is a cool mug created by Tigere Chiriga. It’s a mug and a coaster all in one, making it look like it’s hovering over the table. The coaster part is stuck to the mug handle, so the mug doesn’t touch the table.
This design is neat because it stops the table from getting messed up by hot or cold drinks, and you don’t need a separate coaster.
The idea for the Floating Mug comes from old African tea sets where the handle connects to a saucer to keep the cup up off the table. Tigere Chiriga took this idea, made it modern, and used it for a coffee mug. It’s a fancy yet handy choice for people who like their drinks hot or cold.
These mugs are made of porcelain and they really look like they’re floating over the table. They’re great for anyone who wants to keep their furniture looking nice without having to remember to use a coaster.
Floating Mugs help avoid those pesky drink rings on tables. A Floating Mug with its attached coaster is perfect for folks who often forget to use coasters.
The Floating Mug became famous when Tigere Chiriga showed it off on Shark Tank to get some money to help his business and make more kinds of this mug.
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Who is the Floating Mug Company’s Founder?
Chiriga used to be in the business of making a special kind of cup that floats, but it seems like he’s not doing that anymore. This doesn’t come as a surprise since from the beginning, like on his Kickstarter campaign and on some shows, it was clear he wasn’t really experienced in making products.
He only made the first floating cup for himself until his friends and family encouraged him to start a company called The Floating Mug Company. While running this company, he also kept his job at the US Postal Service.
But now, he’s moved on from both the mug company and his postal job and has switched to working in data analysis, even though he started his career in sales and distribution.
Starting and running a business might not have been his big dream, but it looks like he’s doing well in his regular jobs. It’s possible that the experience he got from his business venture helped him in his current job, or maybe it didn’t, but either way, he’s moved on to different things.
How was Floating Mug Before Shark Tank?
Tigere “Tiggs” Chriga from North Carolina appeared on Shark Tank to pitch his business, The Floating Mug Company. He’s asking for $75,000 for a 15% share in his company.
The Floating Mug, praised by Kevin on the show, is a unique design by Tiggs, even though he’s not a professional designer. The idea came to him because of a problem at home. Whenever his wife found a coffee stain on the furniture, she’d make a loud, unpleasant noise.
This was distracting for Tiggs, especially when he was busy and didn’t have time to look for a coaster or a good mug. The irritation led to the creation of the Floating Mug, a clever combination of a mug and coaster. The design ensures the mug doesn’t touch the surface, preventing coffee stains.
So now, Tiggs doesn’t have to hear his wife’s complaints about stains, and he shared this solution with the Sharks, entering the studio with a loud scream to demonstrate the problem that inspired his invention.