CoAlition Backpacks on Shark Tank
Smart Backpacks - Episode 716 - January 29, 2016
|Coalition "Smart" Backpacks|
appearing on the
Shark Tank in Episode 716
this Friday night
The smart backpacks also have a built-in Wireless Hard Drive for carrying all your non-physical products. How smart is the Co-Altion Backpacks compared to the less intelligent packs on the market? Well, it was smart enough to become an Official Shark Tank product even though the owners are also owners of another competing backpack brand.
The entrepreneurs behind the Coaltion "Smart" Backpacks is Jeff Popp and Casey Lorenzen from Golden, Colorado, who'll both be appearing on the next Shark Tank Episode 716 this Friday night, January 29, 2016. While Popp and Lorenzen already had lots of experience building another backpack brand, (I'll get into that later) they started the Co-Altion Brand from scratch on Kickstarter that successfully ended September 2014, with over $50,000.00 from 189 financial backers.
Here's a short video of the Colfax Smart Pack from CoAltion Backpacks demonstrating all it's unique features built into the pack.
Co.Altion Smart Packs before Shark Tank Episode 716O.K., let's get down to a few interesting facts about the Co-Altion Smart Backpacks before this product's featured on Shark Tank Episode 716. First off, as I mentioned above, the two owners are also involved in another Backpack Brand they started by the name of MHM Packs (Mile High Mountaineering) that's already a successfully established Brand. Both Brands seem to be running independently of each other as there's no mention on either site tying the two businesses together.
Now how many entrepreneurs got a deal on the Shark Tank with two similar businesses and only offered the Sharks an investment in one of the opportunities? Well let's see here if memory serves me right, exactly zero companies made a deal when this was the case. Several Entrepreneur's however, quickly realized they'd need to include equity in both businesses to secure a financial investment from the Sharks.
Surely, both Jeff and Casey did their homework and already know they'll need to include both Co-Altion and MHM Backpacks together (separate business entities or not, they both sell backpacks) to get an investment from the Sharks, right?
Watch the Co-Altion Backpacks on the next Shark Tank this Friday night, 1/29/2016, and see if the entrepreneurs were smart enough to offer the Sharks a deal they couldn't refuse.