The Trunkster is a contemporary-styled suitcase that comes equipped with a USB charging connector, a GPS Device, a changeable battery, and an integrated scale. The creators of Trunkster had the goal of shaking up the conventional practices of the baggage industry and introducing innovation to the standard carry-on bag.
There were two different patterns on the bag; one said “Carry-On,” and the other said, “Checked.” The opening mechanism of the Trunkster is reminiscent of a garage door, and there is no zippered compartment on the exterior of the bag. This is a significant departure from the conventional design of a suitcase. In 2015, Trunkster had a valuation of $30 million, making it the most valuable startup in terms of that metric.
Must Check:
- John Waters Net Worth Does He Have Partner In Business?
- According to Population Declines, Alaska Cancels the Snow Crab Season
Who Created TrunkSter, and When?
Jesse Potash and Gaston Blanchett are responsible for the launch of Trunkster in 2014. The Trunkster was designed by Potash and Blanchett with the intention of revolutionising the baggage market through the use of cutting-edge technology that was included in the product.
2015 marked the year that the founder of Trunkster conducted a successful crowdfunding campaign on both Kickstarter and Indiegogo. They may make more than three million dollars from seven thousand people working together.
Trunkster Net Worth 2022
In 2015, Trunkster debuted on Shark Tank and asked for $1.4 million in exchange for 5% ownership. Following Trunkster’s pitch, Mark Cuban agreed to invest $1.4 million in the company in exchange for 5% of the company’s stock.
This partnership did not work out, and Trunkster has shut down. The founders have been busy pursuing side businesses while amassing wealth. However, at the present time, it is hard to assess Trunkster’s net worth.
The creators of Trunkster have already made a $2 million profit from product sales, and they expect to make another $9 million after shipping 5,000 units next month. However, Lori thinks that this price tag is too high.
To her, a third of the business is not worth $1.4 million. However, Jesse believes that he is open to compromise. Knowing how much money Trunkster has made in the past year and how much money they are worth is essential.
After an appearance on Shark Tank and the subsequent funding of $1.4 million, Trunkster is currently valued at over $30 million. Co-owners Jesse Potash and Gaston Blanchett. The company has developed a “smart luggage” that can be tracked via GPS and has no zippers.
Materials used in production include polycarbonate and brushed metal. The suitcase contains a concealed compartment for your valuables and all-terrain wheels. Despite its popularity, several users have complained that Trunkster doesn’t do what it promises.
Who Is the Founder Of TrunkSter?
Trunkster was co-founded in 2014 by Jesse Potash and Gaston Blanchett. By incorporating cutting-edge features into the Trunkster, Potash and Blanchett hoped to shake up the luggage business with creativity and originality. In 2015, Trunkster’s creator launched a successful crowdfunding effort on the websites Kickstarter and IndieGoGo. With over 7,000 people, they may make over $3 million.
TrunkSter Before Shark Tank
Jesse and Gaston started Trunkster in 2014 with the goal of developing smart luggage with convenient high-tech features. A detachable battery, USB charging connector, GPS, and an integrated scale were all included in Trunkster’s design.
To support Trunkster, they launched a Kickstarter campaign and received $1.4 million from 7,000 backers. Due to the overwhelming success of the campaign, they were receiving thousands of pre-orders on the Kickstarter platform.
In order to continue developing their product, the founder launched a second crowdfunding campaign on IndieGoGo. In 2015, Trunkster’s founders made $2.7 million from their two separate campaigns. In addition to its already high value, Trunkster won Shopify’s Build a Business competition in 2015. In addition, they went to the “shark tank” to secure further funding for their invention.
TrunkSter On Shark Tank
Jesse Potash and Gaston Blanchett, Trunkster’s creators, went to the shark tank for finance. Jesse Potash and Gaston Blanchett asked for $1.4 million for 5% of the Trunkster. The couple showed the sharks their merchandise. They showed how the Trunkster is better luggage.
They showcased the carry-on and Checkers Trunksters. The carry-on version was designed for regular fliers and was lightweight, while the checkers model is for checking in. The sharks were happy since the impenetrable bag was made of aircraft-grade aluminium. Kevin O’Leary was astonished by their request and termed them insane.
Trunkster’s founders told the sharks they had earned $2.7 million in crowdfunding and had begun constructing 500 bags to be supplied by December 2016. The sharks were confused by Trunkster’s $28 million valuation. Trunkster’s founders tried to convince the shark the company was worth $28 million. Potash predicted $9 million in revenue and $6 million in profit by the end of 2016.
Mark Cuban noted pre-ordering concerns and wondered if the founders could operate such a massive firm. Barbara left the deal because of the product’s appearance. Robert Herjevec proposed $1.4 million for 30% of Trunkster, valuing it at $5-8 million. When Robert declined to invest, Kevin offered $1.4 million for 37% of Trunkster. Founders quit. Lori offered $1.4 million for a 15% interest in Trukster, and Cuban said he’d negotiate.
Jesse and Gaston asked for time to examine Lori and Mark Cuban’s offer of $1.4 million for a 5% share in Trunkster and quadrupled their stake if they don’t pay back their money in 2 years. Lori and Mark accepted Trunkster’s offers.
What do you think about this film, share your views in our comment section, and don’t forget to visit our lakecountyfloridanews.com for future Updates and News?
