Marc Newburger and Jeffrey Simon invented the Drop Stop to help solve the problem of losing things in between your car seat and center console. They walked into Shark Tank claiming to have sold at least 150,000 units thus far.
The Drop Stop is basically a car seat gap filler that will catch anything before it gets lost under your seat and seems to disappear sometimes never to be found again. The issue was whether or not this is something that people in the mass market are really going to buy.
Kevin O’Leary made a greedy offer that was really just a royalty that would cut their earnings down by a pretty significant amount.
In the end, Lori offered $300,000 for 20% equity in the company. Marc and Jeff jumped at the chance to work with Lori and took the offer. If you or anyone you know needs help with an invention idea, please contact us at New Product Consulting.
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