Life & Entertainment
Shark Tank: StepNpull Accepts $300,000 From Kevin O’Leary

Shark Tank: StepNpull Accepts $300,000 From Kevin O’Leary

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It is no secret that high-touch surfaces are in the spotlight for their role in spreading common illnesses. To reduce transmission of viruses and bacteria and to provide a safer way to open commercial latchless doors, Mike Sewell has developed the StepNpull. This simple device easily mounts to the bottom of common, commercial doors to allow doors to easily be pulled open without actually touching the handle. This patented device can easily help restaurants, office buildings, and other facilities to reduce the number of touches on door handles. By simply stepping on the device and pulling back, a door can be opened without ever having to touch it.

Mike is hoping to partner with a Shark that is willing to invest $300,000 in exchange for 3% equity in StepNpull. Although the company is at a peak for sales, generating $1,700,000 in sales for one month alone, it is looking for a Shark to come on board and to help them manage this opportunity and to be sure that they will own this market. On track to sell $7,000,000 in product this year, the Shark Tank is full of Sharks willing to invest in StepnPull. Daymond John, Lori Greiner, and Kevin O’Leary all extend offers to Mike in hopes of sharing in the success of his product.

Each of the Sharks has a slightly different strategy for growing StepNpull’s market. Daymond is interested in partnering with the International Door Association to make the StepNpull a standard offering on all commercial doors. He also has a manufacturing facility in NY and believes he can reduce the manufacturing costs. Lori Greiner would like to put the product on an infomercial to begin to sell it into the consumer market. Kevin O’Leary holds his cards close to his vest but offers to invest $300,000 in exchange for 6% equity in StepNpull. Mike accepts Kevin’s offer.

If you were Mike, which Shark would you have wanted to partner with for StepNpull? Do you think that he made a wise decision partnering with Kevin? Start the conversation in the comments below!


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