Being short has its perks, but it also has its drawbacks, like putting items on the roof rack of your car. This was a problem for Alyssa Brown, so she and her husband Zach invented the car roof assist device Moki Doorstep. Daymond John offered on Shark Tank to buy the entire company, making them multi-millionaires. As of 2024, Moki Doorstep has a market cap of $5 million.
About the Founder
Zachary and Alyssa Brown are a couple from Newington, Connecticut. Zachary became a firefighter after earning a degree in fire protection from Eastern Kentucky University. His partner is a registered nurse.
The couple loves outdoor adventures, so the luggage rack on their car is always in use. Zach, who is tall, is usually responsible for installing and removing all the equipment.
However, his job often requires him to work 12 hours straight. In such cases, his partner sometimes takes care of their belongings. But Alyssa is short and climbing onto the roof is a safety hazard for her.
Founding of Moki Doorstep
As a firefighter, Zach knew that vehicles had sturdy door latches that could handle enough weight. He then developed a tool that could attach to this part of the car. Zach called his invention Moki Doorstep and launched it in 2017. Zach’s uncle is a silent partner in the company, but he provided funding and patents. Alisa helps with day-to-day operations.
Since Zach didn’t want to borrow money, they raised over $110,000 from 2,000 backers on Kickstarter. Before appearing on Shark Tank, they were negotiating a distribution deal with Rightline Gear for the US market.
Shark Tank Appearance
By 2019, Moki Doorstep already had a bright future in the United States. However, Zach and Alyssa Brown wanted to go global and believed the Sharks could help them achieve that goal. The couple appeared on the show’s ninth season, asking for $150,000 in exchange for a 5% stake.
The couple impressed the Sharks with their product ingenuity. When they revealed the partnership and licensing agreement, they all had mixed reactions. As soon as the Sharks heard about Uncle Zach’s licensing deal, some caution was raised.
Daymond John was intrigued, and he had connections at Cox Automotive, so he offered $450,000 for a 20% stake. The founders said that was too high, and said they would rather sell the entire business. Daymond took the hint and bought the company for $3 million. They could have sold it for more, but they
After Shark Tank
According to SharkTankRecap.com, after Shark Tank, Daymond’s deal to acquire Moki Doorstep was not completed. Daymond likely failed to reach a global distribution agreement. Despite this, Zach and Alyssa continued to run the company and sold over 150,000 units.
After partnering with Rightline Gear, they entered major retailers such as Dick’s Sporting Goods, Duluth Trading Post and REI. The product is also available on Amazon and MokiDoorstep.com, and it costs $5 more to buy directly from the official website.
Rightline Gear was later acquired by the MacNeill Group for an undisclosed amount in November 2021. Zach is still involved in running the company and helping out at trade shows.
Overall, customer reviews are very positive. On Amazon, Moki Doorstep has an average of 4.6 stars out of 5,045 reviews. Annual revenue is approximately $780,000, with a valuation of $5 million. In personal news, the Browns are also expecting their second child, with Alyssa getting pregnant during filming!
Categories: Shark Tank
Source: svlsf.edu.vn