This article talks about how much the Yono Clip is worth and gives more details about it. The Yono Clip was shown on ‘Shark Tank,’ a well-known TV show.
The Yono Clip is a small tool that you can attach to earbuds. It also has a built-in microphone to make it more useful. The main goal of the Yono Clip is to help people who find it hard to stay focused during important phone calls or meetings.
Yono Clip Net Worth
Yono Clip, a company that makes a unique clip for holding eyeglasses, gained a lot of attention after being featured on the TV show Shark Tank. This exposure helped them reach more customers.
People are very interested in how much the company is worth and what its future might look like. It’s estimated that Yono Clip is worth around $450,000.
The owner of Yono Clip has done really well in the business. At one time, they sold merchandise worth about $14,000.
Yono Clip Founder
Michael Green got his college degree in English and linguistics from Morehouse College. He’s the president of a company called Science for Everyone, Inc., and he’s been teaching since 2001.
Bob Mackey didn’t finish high school at first, but later, he completed his education in college through a special program called TED. He became an inventor and the CEO of a non-profit called Boys & Girls Clubs of North Central Georgia.
In 2010, Michael and Bob met at a STEM festival where they were both giving motivational speeches. They were there to encourage and excite young people. After meeting at the festival, they became close friends.
Yono Clip Founders’ Backgrounds
Michael Green and Bob Mackey, both from Atlanta, Georgia, have unique educational backgrounds. Michael graduated in English and linguistics from Morehouse College and has been teaching and leading Science for Everyone, Inc. since 2001.
On the other hand, Mackey dropped out of high school, but later completed his education through a TED program in college. He then became an inventor and CEO of the Boys & Girls Clubs in North Central Georgia.
They met in 2010 at a STEM festival, where they were both speaking to motivate young people. This meeting led to a strong friendship.
Yono Clip Shark Tank Appearance
Michael and Bob wanted to change how they make their products, from using 3D printers to a different method called molding. They needed money for this, so they went on a TV show called Shark Tank, in its 12th season. There, they asked for $150,000 and offered to give 15% of their company in return.
The two were very lively when they presented their idea and even danced. The investors, called Sharks, were really impressed with what Michael and Bob achieved in just two months. But, some of them had doubts about whether the product would be useful and chose not to invest.
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One of the Sharks, Daymond John, liked their story and offered them $150,000. But he wanted a bigger part of the company, 30% instead of 15%. Michael and Bob tried to negotiate but in the end, they accepted Daymond’s offer.
Yono Clip Deal on Shark Tank
The founders of Yono Clip, Michael Green and Bob Mackey, pitched their company on Shark Tank, asking for $150,000 for 15% of their company. They revealed that in two months, they made $14,500 by selling their product, thanks to effective marketing.
In 2017, they raised $10,000 through a Kickstarter campaign, with an additional $4,500 from their website and gym sales. They started by 3D printing their product in their garage, selling each for $10 and making 10-15 items weekly.
On Shark Tank, Barbara Corcoran and Mark Cuban decided not to invest, citing competition and lack of necessity. Kevin O’Leary also declined due to a conflict with a similar investment. Lori Greiner was hesitant without researching the product’s uniqueness. Daymond John was initially interested, offering $150,000 for 50% of the company but later changed to 30%.
The founders counter-offered $150,000 for 20%. Kevin criticized their lack of business knowledge and growth challenges. Barbara emphasized the importance of a good partner, suggesting Daymond would be a loyal one. After considering the company’s monthly earnings and gross margin, Daymond’s final offer of $150,000 for 30% equity was accepted.
Theo Von, a renowned television host and comedian, has garnered significant wealth through his diverse entertainment career.
His financial success draws parallels to the late Jerry Krause, the legendary NBA executive, whose net worth was a testament to his impactful career in sports management before his passing. Both figures, though in different arenas, have left indelible marks in their respective fields, combining talent with financial acumen.
Is Yono Clip Still in Business?
Yes, Yono Clip is still operating, but it’s not doing very well. You can only buy their product on their own website, not on other big websites like Amazon. Also, they haven’t posted anything on their social media since February 2022.
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What Happened to Yono Clip After Shark Tank?
Yono Clip’s business took off after appearing on Shark Tank. They got more funding and visibility from the show, leading to a big increase in coffee bean orders. Usually, these beans sell for around $20 per pound.
