Is this the final straw for FinalStraw?
SEASON 10 EPISODE 1
reusable collapsible straw
Emma Rose Cohen and Miles Pepper
$625,000 for 5%
FinalStraw, much like Season 7’s Loliware, is on a mission to combat the ever-growing issue of plastic straws.
The FinalStraw straw is BPA-free, dishwasher safe and comes with a special straw squeegee for easy cleaning. Its patented design is made to last and comes with a lifetime warranty.
In only two months prior to appearing on the Shark Tank, Miles and Emma launched FinalStraw on Kickstarter. They easily surpassed their $12,500 goal with almost $1.9 million from 38,443 backers!
The socially conscious company claims to be at the forefront of the anti-plastic straw movement but knockoffs and copycats are steadily floating to the surface, threatening FinalStraw’s place on the market.
Despite their impressive start on Kickstarter, most of the Sharks are slow to bite.
Lori points out that their product has yet to be delivered and tested by the market and she goes out.
Kevin offers $625,000 for 10% + $2/straw until $1.8 million is recouped but after further deliberation he goes out.
Former Shark Tank entrepreneur of Ring (Doorbot) and new guest shark Jamie Siminoff, worries about the issue of changing consumer behaviour and also goes out.
Daymond doesn’t think they’ll be able to scale to the market and he too goes out.
Mark still remains and after sharing his concerns with competition and knockoffs, offers $625,000 for 25%. Miles and Emma counter at 12.5% but Mark decides its not enough and he goes out.
The company has finally begun their first shipment of their reusable, collapsible straws but it isn’t smooth sailing for FinalStraw just yet.
Many of the company’s Kickstarter backers are disappointed in the lack of communication and customer service in dealing with their cases as they have been kept waiting
on the delivery of their straws.
Meanwhile, backers claim the company has prioritized new retail customers over the orders made by the backers.
FinalStraw claims that data containing address info for Kickstarter backers was lost in transition to their fulfillment center and that they are working to resolve the issue.
Although FinalStraw’s issue seems legitimate, it unfortunately doesn’t mean much to the dozens of angry backers who remain waiting for their straws.
FinalStraw, may be the first reusable collapsible straw of its kind, but it certainly isn’t the last.