Yono Clip Net Worth
The Yono Clip is a suction-based hanger that prevents objects from contacting dirty surfaces. It was invented by two Atlanta entrepreneurs. Bob Mackey and Michael Green. They developed the product in their garage. A Kickstarter campaign helped the duo raise $10,000 within 24 hours.
Daymond John, the host of Shark Tank, offered to buy a stake in the company for $150,000. He also offered to handle the branding and social media marketing for the business. However, Bob and Michael countered with a 20% offer. This would have made the company worth about $1 million.
Yono Clip is now up and running, selling merchandise in retail stores and online marketplaces. It is currently being sold in three colors. As of now, the company has less than 2,000 Instagram followers. Since its appearance on Shark Tank, the company has been gaining a lot of attention. Many have called it an innovative and helpful device.
During its first two months of operations, the company sold a total of $14,500. The founder said that they received $4,000 through their website, and another $3,500 from a fitness center. In September of 2020, they filed for a trademark for their product. They are expected to have a net value of $510,000 by 2022.
Although they are relatively new to the market, the Yono Clip has already received positive reviews. The inventors have said that their goal was to create a portable hanger. With the help of a 3D printer, they created the Yono Clip. Their product can support items up to 15 pounds.
Michael Green has a bachelor’s degree in linguistics and an education background. He is the president of Science for Everyone, Inc., and he gives scientific lectures throughout the world. Before he became the president of Science for Everyone, he worked at the Boys & Girls Clubs in North Central Georgia.
Michael Green and Bob Mackey started their business after tripping over someone’s bag at the gym. They were inspired to come up with the idea for the Yono Clip. While they were designing and creating the Yono Clip, they also wanted to move from 3D printing to molded manufacturing.
Originally, the Yono Clip did not have much branding or social media marketing. Eventually, the company grew and the co-founders decided to get a Shark Tank pitch. Once they did, they were able to receive funding and gain exposure. But, since the appearance, the company has experienced some production issues.
Despite the challenges they’ve faced, the Yono Clip has continued to sell. Several reviews have noted that the product helps users keep their things clean. Another feature of the product is that it can be used on almost any surface.
In the 12th season of Shark Tank, the Yono Clip was introduced to the panel of judges. The pair gave an energetic presentation. Ultimately, the sharks were impressed with the progress the business had made in two months. Considering the success of their appearance on the show, the pair should be able to increase their sales in the coming years.