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Drop Stop is a car accessory featured in Season 4 of Shark Tank. It is a seat gap filler to prevent items such as keys, phones, change, food, and other small objects from falling between your car’s front seats and the center console.
This unique product has some significant features. It is made of high-grade neoprene, making it both flexible and durable, allowing it to fit snuggly in the gap between most car seats, regardless of the size or shape of the gap.
The Drop Stop has a slot where the seatbelt latch can pass through, ensuring it fits securely and seamlessly with the car’s interior. It’s also designed to match the color of most car interiors, providing a low-profile appearance once installed.
What makes Drop Stop a good choice is its practicality and effectiveness in solving a common problem many car owners and drivers face. Not only can it save you the time and frustration of retrieving dropped items, but it can also contribute to safer driving.
You can potentially prevent accidents by using Drop Stop to prevent items from falling into hard-to-reach spaces in your car. In addition, it is easy to install, washable, and affordable.
Given these benefits, the Drop Stop seat gap filler has been widely praised for its simplicity, utility, and contribution to driving safety since its presentation on Shark Tank.
Company Name | Drop Stop |
Entrepreneur | Marc Newburger and Jeffrey Simon |
Product / Business | A device that prevents objects from falling between gaps in cars |
Investment Asking For | $300,000 for 15% equity in Drop Stop |
Final Deal | $300,000 for 20% equity in Drop Stop |
Shark | Lori Greiner |
Drop Stop Episode | Season 4, Episode 20 |
Drop Stop Business Status | In Business |
Drop Stop Website | Visit Website |
Drop Stop Net Worth | $2 Million |
What Is Drop Stop?
Drop Stop is a car seat gap filler designed to prevent items such as keys, phones, change, jewelry, makeup, bottle caps, pens, gum, and more from falling down the gap between your car seats and the center console.
The product is made from a high-grade neoprene material that expands or contracts to fit any gap size. The Drop Stop attaches to the seat belt catch via a built-in slot that moves with the seat, and no matter where you adjust your seat, Drop Stop will always stay in place.
Drop Stop is a unique, patented solution to prevent items from falling between the gap between your car’s front seats and the center console. This innovative product is a must-have for all car owners.
The Drop Stop is essentially a piece of high-grade neoprene wedged into the gap between the seat and the center console, creating a barrier preventing items from slipping through. It’s universal, fitting 100% of vehicles due to its clever design allowing it to be squished or stretched.
The package comes as a set of 2, ensuring the driver and passenger sides are covered. Additionally, the set includes a slide-free pad and light for added convenience.
This handy accessory helps to keep your valuables safe and within reach while you drive, preventing distractions and enabling you to focus on the road ahead.
Who Is The Founder Of Drop Stop?
Marc Newburger and Jeffrey Simon co-founded Drop Stop. Marc and Jeffrey are both Los Angeles natives and lifelong friends who came up with Drop Stop out of a simple necessity to prevent things from falling down the car seat gap.
The concept of Drop Stop was conceived after a frightening experience. Marc Newburger was driving home late one night and dropped his mobile phone down the gap next to his car seat.
When he tried to retrieve it, he accidentally steered his vehicle into a telephone pole. Shaken but unharmed, he called his friend Jeffrey Simon and explained what happened.
They both agreed that there must be a solution to this widespread problem, but they decided to invent it themselves when they couldn’t find one.
Before appearing on Shark Tank, the two founders had invested significant time, money, and effort to bring their product to market. They did a lot of grassroots marketing, traveling to car shows and trade events around the country to show off their product.
They also managed to get Drop Stop into a few local car washes and small stores in the Los Angeles area. However, their big break came when they successfully managed to get the Drop Stop into 500 Walmart stores.
Even with that significant achievement, they knew they needed a larger platform to make their product a household name, leading to their appearance on Shark Tank.
How Was The Shark Tank Pitch Of Drop Stop?
Marc Newburger and Jeffrey Simon presented Drop Stop on Shark Tank in Season 4, hoping to land a Shark investor who could help them scale their business to new heights.
During the presentation, the duo effectively demonstrated how Drop Stop works, convincingly explaining the problems it solves.
They showcased the ease of installation and the adaptability of the product to various car models, emphasizing the universal need for it. Their charisma and passion for their product were evident throughout the pitch.
The founders of Drop Stop were seeking a $300,000 investment in return for a 15% stake in their company. This valued their company at $2 million, a hefty sum considering the product was still in its early stages regarding wide-scale distribution.
The Sharks were initially skeptical, primarily due to the high valuation. However, they were convinced about the product’s utility and appreciated the founders’ grassroots effort to get their product on the market.
Given the nearly universal applicability of the product to any car owner, it was clear that there was potential for significant sales growth.
Ultimately, Lori Greiner, known as the “Queen of QVC,” saw the potential in Drop Stop. Given her experience selling practical, easy-to-understand consumer products on television, she saw the product as a perfect fit for her portfolio.
After some negotiation, she offered $300,000 for 20% equity instead of the originally proposed 15%. After a moment of consideration, Marc and Jeffrey accepted Lori’s offer.
The successful pitch on Shark Tank provided the entrepreneurs with the needed funding, exposure, and mentorship to take their products and company to the next level.
Final Deal: Drop Stop secured $300,000 in exchange for a 20% stake from Lori Greiner.
What Happened To Drop Stop After Shark Tank?
After appearing on Shark Tank, Drop Stop experienced remarkable success and growth in its business. The two founders, Marc Newburger and Jeffrey Simon had presented their innovative car accessory that prevents items from falling between car seats, impressing the Sharks with their pitch.
Seeking a $300,000 investment for 15% equity, they had already achieved $1.3 million in sales and a $260,000 profit from selling 260,000 units of Drop Stop before entering the tank. During the show, Lori Greiner, a well-known Shark Tank investor, offered $300,000 for 20% equity, and the founders accepted the deal.
Following their appearance on Shark Tank, Drop Stop experienced a significant boost in sales. The company achieved $500,000 in immediate sales, and within 18 months, it reached $10 million in revenue.
By 2017, Drop Stop’s revenue had grown to an impressive $24 million. This success was attributed to increased exposure from Shark Tank and a fortuitous spoiler on “The View” before their episode aired, further fueling sales.
With Lori Greiner’s assistance, the company expanded its reach to major retailers like Walmart and Target. The product’s success also led to partnerships with Bed Bath & Beyond.
Moreover, Drop Stop achieved commercial success online, frequently ranking as a top-selling automotive accessory on Amazon. The Los Angeles Police Department even equipped 3,000 police vehicles with Drop Stops after a successful test with zero traffic-related accidents.
Despite the immense success, the founders have faced challenges along the way. They encountered copyright issues and faced competition in the market.
Additionally, investor payouts and Greiner’s stake meant that they were not millionaires but were content with their lifestyle and grateful for their accomplishments.
Overall, Drop Stop thrived and became a prominent player in the automotive accessory market, achieving substantial sales and revenue while positively impacting driving safety.
Drop Stop Shark Tank Update
After their successful pitch on Shark Tank, business for Drop Stop skyrocketed. The publicity from the show, combined with the partnership with Lori Greiner, helped to increase the brand’s visibility and reach rapidly.
Lori’s expertise and connections in the home shopping and retail industry were invaluable to the company’s growth. She leveraged her platform on QVC to promote the Drop Stop, which led to a significant increase in sales.
Furthermore, the company was able to expand its retail distribution. Before the Shark Tank appearance, Drop Stop had managed to get its products in about 500 Walmart stores.
Post Shark Tank, the product has become available in all Walmart stores nationwide. Additionally, Drop Stop has expanded into other large retailers like Bed Bath & Beyond and Amazon, making the product more accessible to consumers.
Drop Stop also saw a boost in online sales, with many customers buying the product directly from the company’s website. This growth was driven by the high level of traffic that the site received due to the exposure from Shark Tank.
Moreover, they’ve successfully expanded into other markets outside the United States. With increased visibility and sales, Drop Stop has grown into a global brand. Drop Stop’s appearance on Shark Tank proved to be a turning point in its development.
With the help of Lori Greiner, the company was able to greatly expand its reach and sales, transforming it from a small business into a successful global brand. Drop Stop continues to be a popular and successful product in the automotive accessory market.
Is Drop Stop Still In Business?
Yes, Drop Stop is still in business. As of 2023, the company thrives with an estimated annual revenue of $5 million. Drop Stop continues to sell its products on its official website and through other online retailers, and the product remains a popular automotive accessory and is widely available through various retailers and online platforms.
What Is the Net Worth Of Drop Stop?
According to our research, the net worth of Drop Stop is estimated to be $2 million. The valuation of Drop Stop was $1.5 million after securing an investment from Lori Greiner on Shark Tank.
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