Shark Tank Stormbag, a reusable sandbag founded by Miles Huffman and Maurice Huffman, entered Shark Tank USA in 2023 on Season 15. The founders were seeking $200,000 for 10% equity for their business. However, they secured a deal with Mark Cuban and Lori Greiner, $200,000 for 30% equity. In this article, we will explore Stormbag’s net worth in 2024, its Shark Tank pitch summary and more.
Stormbag Net Worth
As of March 2024, Stormbag’s net worth is $2 million, and their annual revenue was $700K in 2023.
| Net worth | $2 million |
| Annual Sales Revenue | $700K (In 2023) |
| Profits | Not Available |
| Lifetime sales | $800K *estimated (In 2023) |
| Employees | 2-10 employees |
Stormbag Net Worth Timeline
| Net Worth 2024 | $2 million |
| Net Worth 2023 | $667K (After appearing on Shark Tank) |
Shark Tank Stormbag Update from Season 15
Miles and Maurice, a father-son duo, entered the Shark Tank seeking a $200,000 investment for 10% equity at a $2 million valuation. They introduced the Stormbag, a reusable sandbag alternative that got noticed during Hurricane Storm in August 2011. The Stormbag, an empty sack activated by water, can replace traditional sandbags in 3-5 minutes, weighing 30 pounds when soaked.
Sharing their backstory, Miles and Maurice revealed they are coming from Paradise, California, a town destroyed by fire in 2018. This event led them to lose everything. In 2022, their sales reached $90,000, retailing each bag at $5.50 and costing $2 to manufacture. They are hoping to reduce it to $1.75.
While Kevin O’Leary opted out due to the competition with traditional sandbags, Daniel Lubetzky and Daymond John offered $200,000 for 40% equity. Lori Greiner and Mark Cuban joined forces, proposing $200,000 for 30% equity at a $667K valuation, intending to explore various applications. The father-son duo accepted the deal with Lori and Mark.
| Company Name | Stormbag |
| Founders | Miles Huffman and Maurice Huffman |
| Business | A product designed to protect against flooding and water damage |
| Episode | Season 15 Episode 02 |
| Asked Deal | $200,000 for 10% equity |
| Final Deal | $200,000 for 30% equity |
| Sharks | Mark Cuban and Lori Greiner |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Chico, California, USA |
What Happened to Stormbag after Shark Tank?
As of March 2024, the Stormbag is still in business. After their appearance on Shark Tank, StormBag achieved significant success and growth. The products earned approval from Homeland Security, FEMA, Salt Lake City Bomb Squad, and the National Guard.
The products are available for purchase on Amazon and the company’s website. Customers can acquire a 10-pack for $79.99 or a larger 25-pack at a slightly higher cost. Additionally, StormBag offers wholesale options with packages of 250 units.
Stormbag Founder
Maurice Huffman and his son Miles Huffman created StormBag. Maurice, who also owns a military surplus company called Swiss-Link, came up with the idea for StormBag in 2007. Besides being an inventor and businessman, Maurice is a musician. He enjoys writing songs and playing the guitar.
According to his LinkedIn profile, Maurice’s skills include entertainment, songwriting, event coordination, producing, leading a band, business development, and marketing.
Stormbag Achievements and Awards
| Year | Achievements and Awards |
| 2023 | The company was featured on Shark Tank Season 15 and got the deal from Mark Cuban and Lori Greiner As of 2023, the company earned approval from the Department of Homeland Security and FEMA (Federal Emergency Management Agency) |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Stormbag was one of the ventures featured on the show. They made a deal with Mark Cuban and Lori Greiner, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 02.
