The Shark Tank season 6 premiere episode 602 part 2 featured Tigere Chiriga pitching his Floating Mug Company.
A Kickstarter campaign by The Floating Mug Company made it into the Tank; Chiriga reached nearly $40K on a $15K request, more than double his initial funding goal.
He came up with the idea immediately after his bride purchased their first home in 2008.
The tea enthusiast left several rings on the couple’s new furnishings, which didn’t please his wife.
The inventor, who prefers to drink tea from porcelain cups, developed a cup that doesn’t require a saucer or coaster for use.
Not long after picking up the banana holder in their kitchen, he had his “AHA moment,” and the seed of his dream was planted.
A group of friends and relatives insistently saw the prototype mugs he bought in China for personal use.
After a few years, he began looking into the potential of manufacturing Floating Mug Company products in the United States of America.
With the help of Kickstarter, he was able to create fresh molds and produce 500 units (as a reward for supporting the cause).
There will be a promotion on the set of Big Brother Australia featuring the Floating Mug Company. Chiriga sells the goods online, but he requires the assistance of a Shark to fast “become big.”
What are the chances of the Floating Mug Company partnering with a Shark?
What Is a Floating Mug?
Floating Mugs are entirely made of porcelain and look as though they’re floating above the table. It’s a sophisticated solution for anyone who cares about preserving the aesthetic appeal of their furniture.
Floating Mugs are porcelain mugs that float in mid-air. Floating Mugs are meant to prevent rings from falling onto tables. This mug and coaster set is an ideal solution for people who frequently forget to use a coaster.
|Company Name||Floating Mug|
|Product||Two-in-one stylish coffee mug and coaster|
|Investment Asking For||$75,000 For 15% equity in Floating Mug|
|Final Deal||No Deal|
|Episode||Season 6 Episode 2|
|Business Status||Out Of Business|
Who Is The Founder Of Floating Mug?
Tigere Chiriga designed and created the Floating Mug. Chiriga worked for the Postal Service before developing the Floating Mug, and he continues to do so even today.
Floating Mug Before Shark Tank
The Shark Tank has welcomed Tigere “Tiggs” Chriga from North Carolina. Tiggs owns and operates The Floating Mug Company, for which he is seeking $75,000 in exchange for 15% of the business.
You simply can’t go wrong with the Floating Mug. Kevin’s mug quickly earns a compliment from Tiggs, who calls it the second sexiest thing on Kevin.
Floating Mug Co. was inspired to implement the innovative design by Tiggs, who is not a skilled designer.
When he enters the Shark Tank studio, Tiggs lets out a primal scream in anger at his wife’s ‘screeching’ sound.
Further, when Tiggs is distracted or busy, he cannot hunt for a coaster or a decent mug after hearing this cry every time his wife discovers a stain from a coffee cup on their furniture.
This results in coffee stains forming beneath the cup in minutes, leaving a mark on whatever is near.
However, Tiggs says that there is some good news – he no longer has to listen to his wife’s terrible screeching.
The Floating Cup combines a mug and coaster in one — the mug never touches the ground. It is the ideal, graceful answer!
How Was The Shark Tank Pitch Of Floating Mug?
Tigere, as Tiggs calls himself, appeared on Shark Tank and demanded an investment of $75K for 15% of Floating Mug.
His wife yelled at him when he placed a ring on her furniture. The first year’s sales were $105K; he says while handing out mugs.
He used to charge $12 for each production unit in the Czech Republic, but now only $4. The cup costs $19.99 from him.
Kevin accepts the “coaster-less glass” Tiggs is developing because it isn’t overpriced.
When Kevin realizes that a $2 mug and a 50-cent coaster are on the market, he drops out.
Robert isn’t interested since he doesn’t believe it will be popular. Is Mark out? He believes so, but I don’t believe him.
Barbara feels it is just one-time purchase anyone will do. She’s out, too.
Lori likes a few things about the glass prototype; but Lori believes Tiggs isn’t ready yet, so she is also out. So what?
Final Deal: No deal between Sharks and Floating Mug.
Has Floating Mug gotten any interest from Shark Tank?
While Tiggs did not receive a deal on Shark Tank in 2014, he didn’t let his idea for drinkware that doesn’t leave rings put to rest.
The Coasters Glass, based on the same concepts as the Floating Mug, continued to be developed when he worked for the US Postal Service in Mooresville, NC.
Tiggs ran into some difficulties six months after his Shark Tank debut; he got in touch with Lori.
They had a meeting, and she saw his prototype and gave him some ideas on how to proceed. She offered him $75,000 for 51% of his company.
Floating Mug was allowed to shine when Tiggs agreed to the transaction. Unfortunately, this deal looks like it is going nowhere again.
What Happened To Floating Mug After Shark Tank?
Amazon customers have rated the Floating Mug with a 4.5-star rating, based on a total of 506 reviews.
The Floating Mug Co. has its website, but most of its sales appear to come from Amazon.com.
There is currently a Facebook and Twitter account for the Floating Mug Co, which is still actively updated.
The Floating Mug was also reduced from the original $29.99 price to $16.99, and Amazon reports that the mug is selling well.
There are no more items or innovations from the Floating Mug Company that I could find, as Tiggs had shown me.
The Floating Mug appears to be Tiggs’ sole source of income, and he looks to be happy with that.
Floating Mug Shark Tank Update
Queen of QVC Lori Greiner will offer Tiggs something on Beyond the Tank. Is Tiggs ready to take it? It would be greatly appreciated.
In the six months since he first appeared, Tiggs had difficulty satisfying orders, so he approached Lori.
A deal between Beyond the Tank and Lori never materialized, and the company shut down.
In his LinkedIn profile, Tiggs states that he has worked at the US Postal Service in Mooresville, North Carolina, since 2014.
Is Floating Mug Still In Business?
The Floating Mug Clear – a 12 oz (350 mL) clear glass mug – was the subject of another Kickstarter campaign from Tigs in 2017.
This new design is 50 percent larger than the original and offers a clearer view for an enhanced beverage experience.
The project, which 580 backers funded for $35,105, was an instant success once again.
Floating Mug supporters found it difficult to manufacture a delicate product overseas and ship it worldwide.
Most backers received their new mugs, but shipping complications caused some Floating Mugs to arrive broken.
Most backers were dissatisfied but praised Tiggs’ sincerity, persistence, and regular communication throughout the project.
The Floating Mug Clear is no longer available; however, those searching for a replacement for coffee-ring stains can find the last few units of the original porcelain Floating Mug on Amazon.