MyoStorm, LLC was formed by Jonothan “Jono” DiPeri and Shaquille Walker to assist people in playing their best, feeling their best, and living their best lives.
They collaborated with engineers, exercise scientists, physical therapists, and athletes to conceptualize and build the Meteor, the world’s most sophisticated solution for muscular rehabilitation and chronic pain management through the use of vibration and heat in a single device.
The Meteor increases circulation and mobilizes deep soft tissue, relieving tension, improving flexibility and muscle performance, and aiding general relaxation.
Three levels of vibration intensity and two heat levels allow for complete control, depending on your demands.
The ball measures four inches in diameter and weighs less than two pounds—the ideal size for anyone seeking pain relief to target specific muscle trigger points and acupressure points on any portion of the body. Additionally, you can pick it up and transport it anyplace.
What is MyoStorm?
Massage balls such as the Meteor by MyoStorm provide therapeutic benefits. The device uses heat, vibration, and pressure to relieve joint and muscle pains.
DiPeri originally developed the concept in England, but it wasn’t until he enrolled at Brigham Young University and focused on mechanical engineering that it began to take shape.
DiPeri worked as a research assistant on a study that examined the effects of mechanical vibrations on the human body. A product of one of his concepts is what motivated him to create it.
|Founder||Jonothan “Jono” DePeri and Shaquille Walker|
|Product||Vibrating, Heated Therapeutic Massage Ball|
|Investment Seeking||$150,000 for 10% equity|
|Final Deal||$150,000 for 5%, plus $1 royalty per unit sold until $500,000 recouped|
|Episode||Season 11, Episode 5|
Who is the Founder of MyoStorm?
The MyoStorm Meteor Massage Ball founders are Jonothan DiPeri, Shaquille Walker, and Jared Ward, who seek to massage the Sharks into investing in MyoStorm. The company was established in early 2018 by Walker and DiPeri.
During their missionary work in England, before starting college, the two met. Their invention ideas were often exchanged, and they dreamed of collaborating one day. One of those inventions was the Meteor.
MyoStorm Before Shark Tank
Jonothan “Jono” De Peri and Shaquille Walker, who lived in Provo, Utah, served as missionaries for their respective faiths.
The two agreed to work together eventually, but they had no idea what that product would be.
The following year, Jono studied mechanical engineering at Brigham Young University, where he studied the effects of vibration on the human body.
Based on his research, some vibration frequencies and amplitudes have provided more therapeutic benefits when applied to muscle injuries.
Jono was interested in Shaquille’s studies since he was preparing to run and was not immune to injury.
Shaquille and Jono recognized the lack of usage of this particular range of vibration frequencies in the current market for tools for treating pain and healing injury.
They, therefore, devised the idea of creating an upscale massage “roller” that treats pain and heals injury more effectively than current tools.
DePeri created a prototype dubbed the MyoStorm Meteor with assistance from a research team.
The Meteor comes equipped with three vibration settings and two heat options that have been scientifically proven to deliver improved results.
Jared Ward, a professional marathon runner and statistics professor at Brigham Young University, joined the team soon after and accompanied DePeri and Walker when they pitched the Meteor to sharks.
Shark Tank Pitch Of MyoStorm
Jared, Shaquille, and Jono made their way towards the platform together. The Meteor was demonstrated to them by a woman who was also present.
Shaquille says 100 million Americans are suffering from chronic neck and back pain. The United States has also spent $6 billion on pain management, and most people do not receive the relief they require despite spending that much money. There must be a better way, the squad chanted in unison.
That is why the Meteor was built. An FDA-approved medical massage device incorporated patented technologies, vibration, and heat therapy to promote muscle recovery and reduce pain.
Simple and compact, it worked through a combination of heat, vibration, and pressure.
The Meteor was designed with professional athletes in mind, but it can be used by anyone who suffers from discomfort.
The team requested $150,000 in exchange for 10% equity. “Who’s up for rolling with us?” they inquired.
The balls – which had been pre-heated and activated – were then delivered to the sharks for evaluation. Each shark appeared to adore it, and Kevin thought it was incredible.
Mark approached the stage and rolled the Meteor beneath his back. His groans confirmed that it was effective.
Lori wanted to check that the use of heat and vibration set this massage ball apart from competitors.
Jono added that he had studied the effects of vibration on the human body and used this knowledge to maximize the massage ball’s performance. After that, he added heat.
Jono then informed the sharks that the Meteor had launched a 1,000-unit Kickstarter campaign. Their target was $20,000, but they raised $70,000. The sharks were taken aback by the campaign’s success.
Mark was interested in learning about price and costs. Shaquille stated that they tested price points ranging from $130 to $175 and ultimately settled on $160.
The product was manufactured at the cost of $40. All of the sharks thought the price was high, but Shaquille said that competitors produce inferior items, and they found value in the Meteor because it was unique in the category.
Jared said that some items cost upwards of $600, and while a standard foam roller costs roughly $15, the Meteor was a superior product at a lower price point than comparable high-end products.
The researcher also stated that many people spend a lot of money on professional massages. A single massage might cost as much as the Meteor.
Mark believed that what set their product apart was that it was not required to be used on the floor. It’s even possible to utilize it while lying in bed.
Matt Harrington, the guest shark, inquired as to the overall number of items sold.
Jono stated that they had sold 900 units and had raised a total of $120,000 through Kickstarter. Kevin stated that this was a pittance.
Lori believed that the product’s sales were not higher because it was priced too high. Why was the markup so large when the items were just $40?
Shaquille stated that their market research indicated that consumers were willing to pay a premium price. Lori, on the other hand, wondered if they had tried pricing ranges below $100.
They had not done so. Lori believed they could have sold a lot more if the pricing had been less than $100.
Lori proceeded despite Mark’s protest. She explained that there was usually a price freeze between $50 and $100.
When you price your products between $50 and $100, you sell a lot more stuff.
Matt inquired about their future aspirations. Were they considering retail or continuing with direct-to-consumer sales? Jono stated that he was interested in retail sales.
Mark discussed why he believed a higher price could work after debating with Lori on price points.
Individuals who might purchase this product are already familiar with inferior instruments. They are already familiar with the category and can appreciate the perceived value of this new offering.
Shaquille stated that their manufacturer informed them that they could likely reduce the price to $20 if they sold 10,000 units.
Mark was prepared to propose. He would offer them $250,000 in exchange for 20% but withdraw if the team considered offers from other sharks.
Matt inquired as to if Mark would join him as a partner, but Mark declined.
Kevin interjected and stated that he wanted to make an offer, and because Jono desired to hear it, Mark withdrew — exactly as he had stated he would.
Kevin would pay them $150,000 in exchange for a 5% stake in the company but would need a royalty of $1 per unit.
Matt, too, desired admission. He stated that he could leverage his ability to reach the sports demographic – which prompted Mark to ridicule Matt due to his poor Instagram.
Matt was undeterred, and he proceeded. He would offer the team exactly what they had requested: $150,000 for 10%.
Lori interjected. She wanted to know if they were aiming to bring the price below $100. If that is the case, she will offer the same thing that Kevin did.
The crew had gotten so many offers that they desired a brief moment to deliberate.
When they emerged from their meeting, they stated their want to do business with Lori, surprising the other sharks.
However, Jono admired Lori’s suggestion for lowering the price and desired to collaborate with her. He accepted Lori’s $150,000 in exchange for a 5% royalty plus a $1 royalty.
Final Agreement: $150,000 in exchange for 5% equity, plus $1 every unit sold until $500,000 is recovered.
Did MyoStorm Get a Deal on Shark Tank?
Lori accepts the MyoStorm’s offer of $150k in exchange for 5% stock and a $1 per unit royalty until she recoups $500,000.
Lori thought the $160 price tag was excessive on the show (the Shark Tank episode initially aired in October 2019) and proposed cutting it to $99.
Meteor, a MyoStorm product, is now available for $149 on Amazon, where it has received positive reviews such as “absolutely, it is worth the price.”
What Happened To MyoStorm After Shark Tank?
MyoStorm presented its pitch in October 2019.
Myostorm has enhanced the original Meteor and now offers a 2.0 version with USB-C charging and an added heart function.
Ten employees present at the company, which has a revenue of $150,000 on average every month.
However, Lori Greiner is purchasing the piece for only $99 rather than the original $149 listed.
The company’s CEO, DePeri, said that Meteor has a strong brand presence, which he noted comes from the fact that it is FDA-approved medical equipment that distinguishes it from its competitors.
Through these events, the company’s products can be tested by customers, thus strengthening its brand.
Relationships with athletes that endorse the company are also quite advantageous.
MyoStorm’s sales rose immediately after its Shark Tank experience – as is customary after a show airs – but DePeri is pleased with the company’s current gradual and steady expansion.
Many new products are expected to be launched in 2020, pushing sales to $4 million. MyoStorm will grow at a rate close to 100% every year for the next few years, according to DePeri.