Was Moki Doorstep Sold On Shark Tank?
Moki Doorstep is a convenient and unique accessory for vehicles that were designed to assist people so that they can get access to the roof of their cars, SUVs, or trucks easily. Zach Brown and Alyssa Brown invented this smart device. The founders requested the device on Shark Tank in 2019 which acquired incredible attention and popularity.
The Moki Doorstep is usually a small, hard, and portable step made up of aircraft-grade aluminium that clamps onto the U-shaped door latch of the front or rear doors of a vehicle.
Moki Doorstep gives a durable platform for people so that they can stand on and reach the roof easily to load or unload gear, clean the roof, or just get access to a roof-mounted storage system.
When the company came up on Shark Tank the valuation of Moki Step was $3 million. As of 2023, Moki Doorstep’s net worth is $5 million along with an annual revenue of $1 million.
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Moki Doorstep is a portable step that can be clamped with the door latch of a vehicle so that one can get a platform to get access to the roof of the vehicle easily.
The founders introduced the product so that people can reach things on the roof of their vehicles easily like cargo boxes, kayaks, and bicycles. If they use this device they do not need to climb on the tires or use any stool.
This unique and useful device was designed to assist people in accessing the roof of their vehicles easily. The product is made of aircraft-grade aluminium and comes up with a unique design that enables the users to install it easily only by clamping it into the door latch of most vehicles.
This versatile device is capable enough to support up to 400 pounds. So, the people who want to load heavy items onto the roof of their vehicle or get access to it to maintain or clean it, Moki Steps will be an ideal choice for them.
The product has come up as a blessing for outdoor lovers, contractors, and anyone who often travels with equipment on the roof of their vehicles.
This is a lightweight device that you can easily install and remove. Hence, it has become a convenient addition to any vehicle.
Here are some remarkable features of the Moki Doorstep:
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The weight of the Moki Doorstep is only 1.6 pounds or 0.7 kg. So you may easily carry and store it.
High weight capacity:
The device can support up to 400 pounds or 181 kg. So, it is convenient for most users.
The stepping area comes up with a non-slip surface that ensures additional grip and prevents one from getting slipped.
Easy to use:
It has a simple hook design so that the Moki Doorstep can be easily clamped and removed from the door latch without requiring any extra tools.
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Zach Brown and his wife, Alyssa Brown are the co-founders of Moki Doorstep. Alyssa Brown made a great contribution to the development and launch of the device. That is why she is considered a co-founder along with her husband.
They created the Moki Doorstep together so that people can get a safe and convenient way to get access to the roof of their vehicles.
They came up with the idea when they were striving to load a rooftop cargo carrier onto their SUV. They understood that there was no convenient way to get access to the roof of their car.
They had to climb onto the tires or step on the seats. That might be very risky and create pages for the car. Hence, they made up their mind to develop a portal step that can be used to easily access the roof of the vehicle.
Moki Doorstep became very popular even when it did not come up on Shark Tank. The founders introduced the product through a Kickstarter campaign in 2017, which grabbed the attention of people and managed to raise more than $110,000 in only one month.
The campaign enabled the founders to create gossip and curiosity about the product which led to coverage of different media outlets and social media platforms. The company bagged various awards like the Best of Show award at the Outdoor Retailer Summer Market trade show in 2018.
As the product was successful before coming up on Shark Tank, it was able to be built as a popular and sought-after product among outdoor lovers and people who often transport heavy things on the roof of their vehicles.
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What occurred to Moki Doorstep before Shark Tank?
Moki Doorstep was invented by Zach Brown and his wife Alyssa Brown. Zach Brown was a firefighter and Alyssa Brown was a registered nurse. They came up with the idea of making Moki Doorstep when they were going on a trip to Maine where they had to struggle a lot to load their paddle boards on the roof of their SUV.
They understood that a simple and portable solution is very important to assist people in accessing the roof of their vehicles easily. Zach started to develop samples and finally designed the final design by using aircraft-grade aluminium.
The husband-wife duo invested their money and time to give life to the product. They gave it the name Moki Doorstep.
The founders introduced a Kickstarter campaign in early 2018 to gather funds and grow interest. The campaign became very successful and eventually exceeded their initial aim and raised more than $100,000.
So much response revealed the original market demand for their unique product. The company started acquiring traction with the money acquired and the initial production run finished. The founders then made up their minds to take the product to the next level by representing it on the popular TV show Shark Tank.
They came up on Shark Tank in January 2019 season 10 episode 9 to get a deal from the sharks so that they could expand their business and make the Moki Doorstep available widely.
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What happened to Moki Doorstep on Shark Tank?
Zach and Alyssa Brown appeared on Shark Tank season 10 episode 9 which aired on 6 January 2019. The founders pitched their product on Shark Tank intending to get an investment of $150,000 in return for a 5% share in their business. At the tone of their pitch, the husband-wife duo explained how the Moki Doorstep worked by clamping it to the latch of a vehicle on set.
They Put some extra lights on the primary features of the product like ease of use, durability, lightweight design, and high weight capacity.
The sharks were impressed with the demonstration and found the product potential. Zach and Alyssa told the sharks about the outstanding results of their Kickstarter campaign for which they managed to secure more than $100,000 in revenue in only 30 days.
The manufacturing cost of each unit is more than $10. According to Zach they got a positive response for their product and got a good price point of nearly $40.
Nevertheless, the sharks were taken aback by the news that Zach’s uncle had gotten a royalty fee of $1 per unit for about two decades.
Kevin O’Leary was worried about the potential for a copycat product and that is why he quickly left the deal.
On the contrary, Daymond John was ready to invest $450,000 in exchange for a 20% share in the business. He offered more cash in return for a larger share in the business. Surprisingly, Zach and Alyssa told the sharks that they were ready to sell the entire company to the sharks.
Daymond promptly proposed to buy 100% of the company for $3 million and was ready to pay the royalty to Zach’s uncle continuously. So, finally, Zach and Alyssa accepted Daymond’s offer and some the entire company to Daymond John.
By the successful pitch of Moki Doorstep on Shark Tank, it came to the limelight and increased Moki Doorstep sales along with brand recognition and growth. The company got benefits after making a partnership with Daymond. It opened up new opportunities and expanded the reach of the product.
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Moki Step after Shark Tank, experienced outstanding growth and increased brand recognition. The developments that occurred at Moki Doorstep after the show are as follows:
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Development of sales channels:
Moki Doorstep was able to expand its sales channels to make the product available on different online platforms and retail stores with the help of the guidance and network of Daymond John. The visibility of the company increased and thus the sales also boosted.
Enhanced production and distribution:
With the help of the investment, the company was able to increase its production so that it could fulfil the increasing demands for its product. Moreover, they developed their distribution network so that customers make purchases with Moki Doorstep easily.
Marketing and promotion:
Moki was able to acquire more visibility with the exposure it got from Shark Tank and the expertise of Daymond John in marketing. The company made investments in marketing campaigns and used social media to create awareness and grow curiosity about the product.
Moki kept refining and improving its product by taking feedback and suggestions from customers. This helped the company to retain the strong reputation of the brand.
Partnerships and collaborations:
The company got new partnerships and collaborations to develop its product lineup and reach new customers. Moki Doorstep kept enhancing its market presence by working with other firms and influencers in the automotive and outdoor adventure spaces.
Unfortunately, the finalisation of the negotiations of Moki Doorstep with Daymond was not successful. Still, the network of the company is distributed all across North America by making it available at establishments like Dick’s Sporting Goods.
The Browns are lucky participants of Shark Tank which seldom sells companies. The founders wanted to go back to their previous lives and occupations and Alyssa was about to give birth to their second child. So, the founders found the millions of dollars offered by Daymond more useful for their growing family.
However, some have remarked that the Browns could have made a more beneficial deal as Daymond was ready to offer more capital than asked for. This implies that he valued the business more than the $3 million they expected. But, getting $3 million instantly is no doubt an outstanding achievement.
After making the deal, Zach and Alyssa kept working actively in product development with the manufacturer, Rightline Gear and helped Daymond hand his entire team in creating the product.
You may buy Moki Doorstep online through the website of the company and Amazon and in brick-and-mortar stores like Dick’s Sporting Goods and REI.
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Though there was a deal between the founders of Moki Doorstep and Daymond John to sell the company, the deal has not been completed yet. Nevertheless, Daymond stays in discussions with the company and has come up with them publicly.
Alyssa was pregnant when they appeared on Shark Tank. The Moki Doorstep has made a partnership with Rightline, a provider of work equipment. The product has a dedicated website but it not only sells the doorstep but also sells other products from Rightline. The logo of the Rightline is clearly shown on the site.
The product is available on Amazon and has an outstanding rating of 4.6 out of 5 from more than 4,900 reviews.
The retail price of the car doorstep is $49 and it is earning more than $150,000 in sales. The company has a strong social media presence with an incredible number of social media followers. It has more than 3,845 followers on Instagram, 2,041 followers on Facebook, 65 followers on Twitter, and more than 1600 followers on YouTube. The YouTube videos of the company have gathered more than 10,000 views.
Moki Door Step, valued at $5,000,000, has provided the Browns and their family with remarkable financial stability; nevertheless, the deal to sell the company has not yet been finished off.
Moki Doorstep’s arrival on Shark Tank and its partnership with Daymond John is undoubtedly a turning point for the company. The improved exposure, investment, and business guidance enabled Zach and Alyssa to level up their business, fulfil the increasing demand for their product and build their company as a popular and unique solution for getting access to vehicle rooftops. We are expecting that the company will grow more in future.
Where can you buy your own Moki Doorstep?
You may purchase Moki Doorstep straight from the website of the company. You may also buy the product on Amazon.
Did Daymond buy Moki Doorstep?
No, Daymond John did not purchase Moki Doorstep on Shark Tank. He did, nevertheless, propose to invest in the company, but the deal ultimately fell through when Zach Brown, the founder of Moki Doorstep, chose not to accept the proposal.
How much is the Moki Doorstep worth?
The exact net worth of Moki Doorstep is not publicly figured out, as it is a privately owned company. However, after its arrival on Shark Tank, Moki Doorstep experienced a substantial boost in sales and publicity. There is no doubt that they helped the company to increase its overall value.