Trunkster Update

SEASON 7 EPISODE 10

PITCH

zipperless smart luggage designed with a builtin GPS, digital scale and charging station

ENTREPRENEUR

Gaston Blanchet and Jesse Potash

ASKED FOR

$1.4 million for 5%

GOT

$1.4 million for 5% to be repaid within 2 years

SHARK

Mark Cuban and Lori Greiner

STATUS

OUT OF BUSINESS

Trunkster is the smart luggage suitcase attempting to disrupt the luggage industry. The Trunkster’s key features include zipperless entry, USB charging with a removable battery, a built-in scale and GPS location tracking through the Trunkster app.

The company was back founded in 2014 by Jesse Potash and Gaston Blanchett. In 2015, the duo introduced Trunkster to the world through crowdfunding campaigns on IndieGogo and Kickstarter.

The campaigns ended successfully with over $3 million in funding between the two platforms with over 7000 backers on board.

Trunkster appeared on Shark Tank in 2015 where they struck a deal with Lori Greiner and Mark Cuban which valued their company at $30 million.

The Shark Tank deal fell through and neither Lori nor Mark are involved with Trunkster. The lack of communication and transparency has left hundreds (and possibly thousands) of backers without their luggage and without recourse for a refund. There has even been talk amongst some backers of starting a class action lawsuit against the founders.

Co-founder Jesse Potash, appears to have gone M.I.A and Trunkster’s other co-founder Gaston Blanchet, has left the company to work on a new project called Humanity.TV – a mobile app and interactive documentary for adventurers, explorers and travelers.

The unfortunate reality of Trunkster is that the founders and their backers bought into the fantasy of what Trunkster could have been but the founders were clearly way over their heads in attempting to bring this project to life.

4 thoughts on “Trunkster Update”

  1. I saw nothing but yellow flags with that pitch: absurd valuation on nothing but pre-sales, fairly generic product (granted, maybe these types of suitcases were not a thing back in 2015), and two founders that seemed to live in la-la land. I thought that the sharks would laugh them out of the room. Was shocked to see that any offer was made, let alone three. Now, here we are.

    Reply

Share your thoughts. Leave a comment!