The Duo Umbrella Shark Tank Net Worth

The Duo Umbrella, featured in Season 15, Episode 11 of Shark Tank, is an innovative solution to the common problem of sharing an umbrella. Created by high school-aged entrepreneur Nathaniel Wellen, The Duo features a dual-handle system that makes sharing an umbrella easier than ever.

In addition to the standard handle, The Duo includes a retractable extension that adds 12 inches of grabbing space for an additional user, allowing people of different heights to share the umbrella comfortably.

The umbrella’s 54-inch canopy provides ample coverage and UPF 15 sun protection. With two US utility patents, The Duo offers a practical design that has garnered attention from both consumers and investors.

The Duo umbrella is an excellent choice for those looking for a convenient and user-friendly umbrella solution. It is available on Shed Rain’s website for $55.

Company NameThe Duo
FounderNathaniel Wellen
ProductDouble-handled umbrella
Investment Seeking$100,000 for 10% equity
Final Deal Accepted$100,000 for 18% equity
Shark NameRobert Herjavec
EpisodeSeason 15, Episode 11
Business StatusIn Business
WebsiteVisit Website
Net Worth$1 million

What Is The Duo Umbrella?

The Duo umbrella is a patented umbrella with twin handles designed for use by two people. The dual-handle design of The Duo makes sharing an umbrella safe and simple, allowing a parent and child, or any two individuals, to use the umbrella together comfortably.

The Duo Umbrella is a double-handled umbrella that allows two people to comfortably share the umbrella while holding the handles at the same time.

It features a 54-inch canopy made from high-quality polyester pongee fabric and a special + button that releases an extendable second handle for easy sharing.

The Duo Umbrella Shark Tank Net Worth

The flexible shaft of the second handle can be extended by up to 12 inches to accommodate users of different heights. Additionally, the Duo Umbrella provides UPF 15 Sun Protection, making it suitable for various weather conditions.

The Duo umbrella is available for purchase on Shed Rain’s official website for $55 and is available in different colors to suit customers’ preferences.

Who Is The Founder Of The Duo Umbrella?

The Duo Umbrella was created by Nathaniel Wellen and his father, Alexander Wellen, from Redondo Beach, California. Nathaniel, a 15-year-old entrepreneur, serves as the President of Duo LLC, the company he co-founded with his father.

Alexander Wellen, Nathaniel’s father, collaborated with him to develop the patented dual-handle design of The Duo Umbrella.

The idea for The Duo Umbrella arose when Nathaniel and Alexander Wellen recognized the challenges of sharing a standard single-handle umbrella between individuals of different heights.

Conventional umbrellas are designed for solo use and are not well-suited for sharing. To address this, the Wellens conceived the innovative extendable second handle, allowing both users to hold the umbrella comfortably at their preferred height.

Before its appearance on Shark Tank in Season 15, Episode 10, The Duo Umbrella had already gained traction for its unique design.

The Wellens’ invention aimed to revolutionize traditional umbrellas by providing a practical solution for individuals sharing an umbrella.

By introducing the dual-handle design, The Duo Umbrella offered a safer and more convenient way for two people to stay dry together in the rain.

How Was The Shark Tank Pitch Of The Duo Umbrella?

  • Entrepreneur: Nathaniel Wellen
  • Business: The Duo Umbrella
  • Seeking: Initially $100,000 for 10% equity
  • Deal Offered: $100,000 for 18% equity by Robert Herjavec
  • Final Deal: $100,000 for 18% equity accepted by Nathaniel Wellen

Nathaniel Wellen introduced The Duo Umbrella, a unique design to facilitate sharing between two individuals of varying heights.

The umbrella boasts a 54-inch canopy and an extendable handle and is available in two styles – Compact Duo and Stick Umbrella.

The Duo Umbrella Shark Tank Net Worth

During the pitch, Nathaniel showcased prototypes of the umbrella and highlighted the company’s pre-revenue stage, along with holding two patents, including a design patent for the innovative two-handled umbrella.

He emphasized his partnership with Shed Rain, a prominent umbrella company known for selling 15 million umbrellas annually, to handle the manufacturing and distribution of The Duo Umbrella.

Shark’s Views:

  • Barbara Corcoran, Kevin O’Leary, Lori Greiner, and Mark Cuban opted not to make offers.
  • Barbara and Lori believed that Nathaniel had a solid partnership with Shed Rain already in place.
  • Kevin was impressed but expressed concerns about communication while Nathaniel was attending school.
  • Mark admired Nathaniel’s entrepreneurial spirit but decided not to take more equity from the young founder.

Investment Offers:

  • Robert Herjavec initially proposed $100,000 for 20% equity.
  • After negotiation, the final deal was settled at $100,000 for 18% equity, which Nathaniel accepted.

Shark Tank Investment Table:

SharkInvestment OfferedCounter Offer by FounderFinal Deal Accepted
Robert Herjavec$100,000 for 20%$100,000 for 15%$100,000 for 18%

Did The Duo Umbrella Get a Deal on Shark Tank?

Yes, The Duo umbrella successfully secured a deal on Shark Tank. During the pitch on Season 15 Episode 11, Nathaniel Wellen, the founder, asked for $100,000 for 10% equity.

Ultimately, Robert Herjavec made an offer of $100k for 18% equity, which Nathaniel accepted. This marked a significant milestone for the company, showcasing its potential for growth and success.

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What Happened To The Duo Umbrella After Shark Tank?

After appearing on Shark Tank, The Duo, a double-handled umbrella company, secured a deal with Shark Robert Herjavec for $100,000 in exchange for 18% equity. The founder, Nathaniel Wellen, successfully pitched the product, leading to increased demand post-episode.

The Duo Umbrella experienced significant growth in its business. Post-Shark Tank, the team focused on marketing, boosting sales, and expanding distribution channels.

They utilized social media campaigns, strategic partnerships, and platforms like Amazon for sales. The innovative design led to increased market interest and revenue.

Efforts were made to establish partnerships for wider distribution, rebranding initiatives, and product refinement based on consumer feedback.

Despite facing challenges like legal hurdles and manufacturing issues, The Duo Umbrella continued to carve out its niche as a practical and unique rain gear solution in the market.

The Duo umbrella remains in business headquartered in Redondo Beach, California, with 2-10 employees. The partnership with Shed Rain Company, a major umbrella manufacturer, has provided a solid foundation for growth in the competitive umbrella industry.

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The Duo Umbrella Shark Tank Update

After appearing on Shark Tank, The Duo Umbrella, founded by 15-year-old Nathaniel Wellen, received an investment offer from Robert Herjavec. The product is valued at $500,000 and is set to be shipped this summer, with pre-orders already underway.

With a unique design catering to two people of different heights, The Duo Umbrella aims to disrupt the umbrella market. The exposure on the show significantly boosted demand for their innovative dual-handled umbrellas.

The Duo Umbrella Shark Tank Net Worth

Despite complications with Shed Rain owning 49% and handling prototypes, manufacturing, and distribution, the deal with Herjavec for an 18% equity stake seems promising.

The product features a 54-inch canopy and extendable, retractable, and lockable dual handles, indicating strong market potential.

The partnership with Herjavec and potential retail placement in stores like Walmart, Costco, and Target could lead to significant revenue growth for The Duo Umbrella.

The business is based in Redondo Beach, California, and has seen a surge in demand. The Duo Umbrella is available in various colors on Shed Rain’s official website for $55.

The company has expanded its reach and continues to cater to customers looking for unique and functional umbrellas.

Nathaniel Wellen’s entrepreneurial vision and family’s legacy in the umbrella industry position the business for a successful future post-Shark Tank.

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What Is the Net Worth Of The Duo Umbrella?

According to our research, the net worth of The Duo Umbrella is estimated to be $1 million. The valuation of The Duo Umbrella was $555,555 after securing an investment from Robert Herjavec on season 14 of Shark Tank.