The Freeloader Shark Tank Update | The Freeloader Net Worth

The Freeloader is a child carrier product introduced on Season 5, Episode 3 of the television show Shark Tank. It was developed by Austin, Texas, engineers, and fathers Erick Jansen and Nathan Jones, who needed a convenient solution for carrying their tired children during long outings while providing ample storage for supplies.

Presenting a multifaceted solution, the Freeloader was touted as a child carrier, baby backpack, and hiking carrier, all combined into one sleek and durable product.

The Freeloader was ingeniously designed to fold out into a seat when the children get tired, allowing parents or caregivers to carry them on their backs. With its capacity to carry children up to 80 pounds, it was targeted for children between ages 2 and 8, reflecting a wider age range than many comparable products.

The Freeloader’s design philosophy was deeply rooted in safety and convenience. A key feature of the product is its five-point harness system that ensures the child is secured safely during transport.

In addition, it boasts padded, curved shoulder straps and a padded waistband that work together to distribute the weight evenly, making it comfortable for the adult carrier even for extended durations.

Its ultra-light design makes it highly portable, another noteworthy aspect of the Freeloader. Despite being lightweight, it does not compromise durability, making it an ideal accessory for active families who enjoy outdoor adventures.

Erick Jansen and Nathan Jones sought an investment of $200,000 for a 15% stake in The Freeloader, which they eventually secured from Robert Herjavec for a 33% stake in their company.

Freeloader continued to evolve following the show, adding new features and expanding its consumer base. Families seeking a safe, comfortable, and convenient way to include their children in various activities can benefit from The Freeloader’s continued success.

What Is The Freeloader?

The Freeloader is a state-of-the-art child carrier designed for parents who lead an active lifestyle and want their children to participate in outdoor adventures. It has various features designed to provide comfort, safety, and convenience.

The Freeloader is a modern, innovative child carrier designed for active families. It has numerous features ensure comfort, safety, and convenience during outdoor adventures.

Here’s a quick rundown of The Freeloader’s main features:

• Stash and Go Pockets: These are stowaway pockets located at the hips. They offer accessible storage for snacks, pacifiers, and other small items your child might need during outdoor activities.
• Padded Comfort Pillow: This comfortable die-cut foam placed under hypoallergenic fabric provides a breathable contact surface. It can be easily removed and washed.
• Five Contact Points Harness: Inspired by Formula 1 racing harnesses, the Freeloader utilizes a 5-point harness system, providing unmatched safety without sacrificing stability and comfort.
• Adjustable Foot Stirrups: These ensure additional support and stability for your child during your adventures.
  ShockLoad Suspension: The Freeloader is also equipped with integrated ShockLoad shoulder straps. These offer maximum flexibility as they transfer the load from the harness to the hip belt.

The Freeloader is a versatile child carrier that combines functionality, comfort, and safety, making outdoor activities more enjoyable for parents and children.

Who Is The Founder Of The Freeloader?

The Freeloader was founded by Nathan Jones and Erick Jansen, two seasoned firefighters from Boston, Texas. Known for their courage and quick thinking, Jones and Jansen also proved to be innovators and problem-solvers in everyday life scenarios.

Having faced the grueling task of carrying people in emergencies, they understood the physical stress and awkwardness involved in carrying another person, regardless of age or size.

The problem of carrying was not just confined to their professional sphere; as parents, they faced similar issues, particularly during family outings, hiking, or travel. Seeing this everyday problem, they set out to find a solution.

The conception of The Freeloader was largely inspired by their personal experiences as fathers. The founders recollected instances of their children getting tired during hiking trips or other outings and how they’d end up carrying them.

They also recounted a specific instance of a family trip to Paris where they had to plan around their child’s limitations to avoid the child’s exhaustion and potential meltdown.

These experiences were unpleasant, inconvenient, and physically strenuous, often leading to fatigue and discomfort. The frustration of these experiences led the pair to identify a gap in the market for a practical and comfortable child carrier.

In response to this identified need, Jones and Jansen created The Freeloader, a novel child carrier designed to look and function much like a backpack but with a unique twist.

The device includes an extendable seat, allowing a child to sit on the backpack rather than being held or carried in arms. It’s a lightweight solution designed to distribute the weight evenly across the carrier’s shoulders and hips, making carrying a child much more manageable.

Before appearing on Shark Tank, The Freeloader was still in its early stages of development. Although it was a promising solution to a common problem, it required further refining and testing to ensure its safety, usability, and market appeal.

They had already successfully crowdfunded their idea, raising over $40,000 in 2013 and validating the need and demand for the product.

While The Freeloader’s initial design and concept were met with enthusiasm, their appearance on Shark Tank highlighted concerns about safety, weight, and marketability.

This feedback and the financial investment they received on the show allowed Jones and Jansen to refine the design, improve safety measures, and better position their product in the market.

This demonstrates the founders’ continuous effort and dedication to innovation, always aiming for improvement and excellence.

How Was The Shark Tank Pitch Of The Freeloader?

Nathan Jones and Erick Jansen, the creators of The Freeloader, appeared on Season 5 of Shark Tank with their innovative child carrier product. They initially sought an investment of $200,000 in exchange for a 15% equity stake in their company, valuing The Freeloader at $1.33 million.

In their presentation, Nathan and Erick positioned The Freeloader as a lightweight, easy-to-use child carrier that could comfortably carry kids up to 80 pounds, distributing their weight evenly.

They showcased the product’s unique selling points, such as its ergonomic design and 5-point safety harness, developed with safety and ergonomics in mind by these two Texas firefighters.

To give the Sharks a firsthand experience, Nathan demonstrated how the child carrier worked with his young son, River, onboard. 

They also mentioned their successful crowdfunding campaign earlier that year, which raised over $40,000 in just 45 days.

As for the potential investment, Nathan outlined that $110,000 would be invested into the production of 2,000 more units of The Freeloader, while the remaining $90,000 would cover operational expenses.

The Sharks, however, had varied opinions and concerns about the product. Robert Herjavec tried The Freeloader on with River and stated that while it wasn’t too uncomfortable, it wasn’t something he would like to wear all day.

Lori Greiner, another Shark, raised concerns about safety testing, to which Nathan and Erick confirmed they were well-versed with all regulations.

Mark Cuban expressed worries over the buckles, believing that a child could potentially unbuckle them, which could lead to accidents. He suggested investing more in safety testing, which led to him withdrawing his interest in the deal.

Barbara Corcoran felt that marketing The Freeloader would be challenging unless potential customers could witness its functionality. She also noted that the window of use (between stroller age and distance-walking age) would be quite short, leading her to opt-out.

Lori Greiner and Kevin O’Leary also withdrew, citing safety concerns and difficulties in scaling and selling the product.

Finally, Robert Herjavec made an offer. He proposed to invest the requested $200,000, but for a 33% stake in the company instead of the proposed 15%, thus asking for a considerably larger equity share.

After a brief discussion, Nathan and Erick accepted this offer, making Robert an equal partner in the business. This resulted in The Freeloader securing the investment they sought to grow and expand their business.

Final Deal: Robert Herjavec agreed to invest $200,000 for 33% equity in The Freeloader.

What Happened To The Freeloader After Shark Tank?

The Freeloader, following its appearance on Shark Tank, seems to have enjoyed a great deal of success. With Robert Herjavec’s backing and the show’s publicity boost, the company continued and increased its operations, as suggested by the text provided.

Research indicates that The Freeloader has become popular among parents, hitching rides on the backs of parents across the globe. In addition to its popularity, the company has significantly increased its value.

The Freeloader is considered worth approximately $3 million, a significant uptick considering the equity valuation of around $600,000 when the founders originally appeared on Shark Tank.

The Freeloader’s product line has been made readily available to consumers through its website and other online marketplaces like Amazon, expanding its distribution channels. This indicates that the company has successfully scaled up its operations and reached a wider customer base.

However, the overall picture suggests that the company has successfully leveraged the Shark Tank opportunity to grow its business and brand.

The Freeloader Shark Tank Update

After their appearance on Shark Tank, the creators of The Freeloader, Erick Jansen and Nathan Jones, managed to secure an investment from Robert Herjavec.

The Freeloader, a safe and portable child carrier designed by firefighter fathers, boasts an impressive 5-point harness and can accommodate kids up to 80 pounds.

Their initial pitch on Shark Tank sought $200,000 for a 15% equity stake in their business. However, they ended up striking a deal with Robert Herjavec for $200,000 in exchange for a larger 33% equity share, making him an equal partner in their venture.

Following their appearance on the show, The Freeloader experienced rapid growth, which led to partnerships with retail giants like Kohl’s and JCPenney.

The lightweight child carrier provides a solution for parents who want to enjoy outdoor activities while carrying their older kids comfortably. It’s designed with quality and safety in mind, addressing parents’ concerns when using such a device.

The success didn’t stop there. The Freeloader’s annual revenue reportedly reached $5 million through sales on their website and platforms like Amazon. This impressive growth resulted in an increased company valuation, initially estimated at $1.3 million on Shark Tank but had grown to a net worth of $3 million in 2022.

The Shark Tank’s appearance boosted The Freeloader’s visibility and credibility, enabling them to thrive in the market and establish themselves as a successful player in the child carrier industry.

Is The Freeloader Still In Business?

Yes, The Freeloader is still in business. The Freeloader is a lightweight and secure child carrier designed for active families, created by firefighting fathers Nathan Jones and Erick Jansen. The carrier incorporates cushioned shoulder straps, a waistband for even weight distribution, and a five-point harness for child safety.

The product gained attention after their Shark Tank pitch, leading to a $200,000 investment from Robert Herjavec for a 33% stake in the company. It has evolved with new features and improvements.

The Freeloader has been available in outlets like Kohl’s and JCPenney’s. Despite Jansen and Jones initially withdrawing due to equity concerns, the product continued to thrive.

It engaged in licensing agreements and found success in sales on platforms like Amazon, generating an impressive $5 million annual revenue. The carrier is praised for its positive reviews, with users highlighting its lightweight, safe, and comfortable design.

Families have found it valuable for outdoor activities, allowing them to involve children, including those with special needs, in various adventures. The carrier’s versatility and impact on family experiences are frequently mentioned in user testimonials.

The Freeloader is available in diverse colors and is priced between $279 and $379. The product’s net worth has grown substantially, reaching $3 million by 2022 from an initial valuation of $1.3 million.

The Freeloader continues to be a popular choice for families looking to explore the outdoors while keeping their children comfortable and safe.

The Freeloader remains a successful business, offering a valuable solution for families seeking a comfortable and secure child carrier for outdoor activities and adventures.

What Is the Net Worth Of The Freeloader?

According to our research, the net worth of The Freeloader is estimated to be $3 million. The valuation of The Freeloader was $600,000 after securing an investment from Robert Herjavec on Shark Tank.

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