Smart baggage is now experiencing a boom in sales and is projected to continue this upward trend until 2027. If Trunkster were still in operation, that would be excellent news.
When Trunkster appeared on Shark Tank in 2015, the company was valued at $30 million. It seems like the company has gone out of business for good. Its homepage can still be accessed, but it won’t load. Social media accounts belonging to the company have apparently been deactivated as well.
The Shark Tank Tales website, which keeps tabs on companies featured on the show, reports that co-founder Jesse Potash has vanished. Trunkster’s other co-founder, Gaston Blanchet, has since moved on to a position at a mobile app development firm.
Trunkster Net Worth 2022
In 2015, Trunkster pitched itself on Shark Tank, seeking $1.4 million in exchange for 5 percent of the company. After hearing Trunkster’s pitch, billionaire investor Mark Cuban committed $1.4 million and promised to give the business 5% of his company’s equity.
Sadly, the partnership did not work out, and Trunkster is no longer in business. The founders have been busy with other endeavors while amassing wealth. It’s tough to put a price tag on Trunkster right now, though.
The creators of Trunkster have made a $2 million profit off of product sales so far, and they expect to make another $9 million after shipping 5,000 units next month. However, Lori thinks that this is too high of a price. She thinks $1,4 million is too much to pay for one-third of the business. Meanwhile, Jesse claims that he is open to compromise. Recognizing how much money Trunkster has made in the past year and how much their net worth is is crucial.
Following its appearance on Shark Tank, during which it raised $1.4 million, Trunkster’s valuation increased to roughly $30 million. This business is owned by Jesse Potash and Gaston Blanchett. Their “smart suitcase” features GPS monitoring and opens without a zipper.
Their product is constructed from polycarbonate and brushed aluminum. There’s a secret compartment and all-terrain wheels on this bag, too. Despite its popularity, several users have complained that Trunkster doesn’t do what it promises.
After Appearing on Shark Tank, What Became of Trunk Ster?
Do you travel regularly but have constant fears that your bags will be stolen? If you’re in this group, Trunkster has the solution to your storage woes.
The Trunkster brand produces smart luggage with convenient extras including built-in features like a roll-up design, a weighing scale, and USB ports to charge your electronic gadgets. Everything you see here is part of the base offering. Gaston Blanchett and Jesse Potash created Trunkster. The original idea was to build a smart bag that could be operated via an app on a user’s smartphone.
The Trunkster travel bag comes in both a “carry-on” and “checked” configuration. The Trunkster is innovative luggage that replaces the zipper with a garage-door-like opening. A Trunkster’s primary materials are polycarbonate and aircraft-grade aluminum. The Trunkster luggage incorporates a hidden pocket and all-terrain wheels to keep your valuables safe on your travels.
The combination lock on the suitcase is approved by the Transportation Security Administration, so your things will be safe inside. Trunkster’s creators reached out to the reality show Shark Tank in an effort to increase the company’s funding and thus their production and distribution capacities.
Trunk Ster: Did They Close a Deal on Shark Tank?
Yes, after being approached by Trunkster’s founders Gaston Blanchet and Jesse Potash, Lori and Mark Cuban invested $1.4 million for a 5% interest.
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After Shark Tank
The contract with Mark and Lori never closed after the show because the company couldn’t pass the due diligence phase.
Jesse and Gaston’s crew also missed the mark on shipping out the vast majority of 2016 pre-orders. In addition, some customers who received their Trunkster bags complained that they didn’t look or feel as well as the prototype. Customers have recently taken to their Kickstarter page to vent their frustration and ask for refunds.
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