💰 The $7 Million Storage Solution

Hey!

I hope everyone is having a great week! Sorry, I missed last week.

Today, we are looking at the companies from Season 14, Episode 4:

• Storage Scholars

• Ghia

• Expedition Subsahara

• Woosh

The winner of last week’s poll was… Create a Castle! Be sure to scroll to the end and vote on this week’s poll!

Let’s get it!

📚️ Storage Scholars

Sam Chason and Matt Gronberg launched Storage Scholars to simplify packing, storage, and shipping for college students. They started the business from a dorm room at Wake Forest in 2017.

On Shark Tank, they asked for $250,000 for 5% equity. With $1.8 million in annual sales and service on 23 campuses, the Sharks were impressed. Mark Cuban made a deal for $250,000 in exchange for 10%, and the founders accepted.

After the show, Storage Scholars closed the deal and quickly scaled the business. They expanded from 23 campuses to over 175 across the U.S. and Canada. They also partnered with global moving company SIRVA and launched a ship-to-school program for incoming freshmen.

Annual revenue has grown to around $7 million, and the company continues to grow as a leader in student moving services.

🍹 Ghia

Alexandra Michaels and Gita Kuta founded Ghia to offer a non-alcoholic aperitif that delivers sophisticated flavor without the booze. They asked for $1 million for 5% equity.

At the time, the brand was doing about $2 million in annual revenue with strong margins and national distribution. The Sharks liked the branding and growth but ultimately passed on making a deal.

Despite not getting a deal, Ghia continued gaining traction. They expanded into restaurants like Bar Brava and The Spotted Pig, grew their retail presence with Total Wine and boutique grocers, and launched Canned Ghia for easier at-home use.

Sales have continued to climb, and the brand remains a standout in the zero-proof space.

❤️ Expedition Subsahara

Sofi Seck pitched Expedition Subsahara with her handwoven baskets and home décor made by artisans in Senegal. She asked for $500,000 for 10% equity, sharing that her products cost around $18 to make and sell for $50.

The business had $900,000 in sales so far in 2022, with $3.6 million in lifetime revenue. Despite the strong cultural mission and solid margins, the Sharks passed, concerned about low net profits and high customer acquisition costs.

Since the show, the Expedition Subsahara continued to grow without a deal. By 2023, revenue reached about $1.5 million, and the product line expanded to include placemats, coasters, vases, fans, bowls, small bags, wall décor, stools, and sculptures.

Sofi remains committed to employing Senegalese artisans and donates 20% of profits toward building a STEAM school for girls in Senegal.

🌫️ Woosh

Winston Mok pitched Woosh, a smart HVAC air filter that tracks air quality and notifies users when it’s time for a replacement. He asked for $500,000 for 10% equity, citing no sales yet but a successful Kickstarter campaign, a $5 million valuation, and a partnership with Emerson’s Sensi thermostat.

After the pitch, Kevin O’Leary offered $500,000 for 10% equity with a $0.50 royalty per unit sold. Winston accepted the offer on the show, but the deal did not close.

After Shark Tank, Woosh continued to grow. The company opened an office in San Francisco, secured a partnership with 3M for filtration technology, and integrated with the Sensi product line.

They raised $2.27 million in outside funding and began shipping products in December 2023. By mid-2024, Woosh had reached over $1 million in revenue. They also launched a limited-time initiative donating 10% of proceeds to wildfire relief efforts through the California Fire Foundation.

That’s all for this week! What’s your favorite company from Season 14 Episode 4?

Vote below and I’ll share the winner next week.

I’ll be back next Wednesday!