Flated Shark Tank Update – Shark Tank Season 14
Ken Heove, Monique Keefer, and Ryan Guay pitched Flated on Shark Tank. It is the world’s first inflatable truck topper and other inflatable automotive accessories.
Ken Heove, Monique Keefer, and Ryan Guay want to blow up a deal for Flated, the world’s first inflatable truck topper and other inflatable automotive accessories line, in Shark Tank Season 14 Episode 16.
The three entrepreneurs and a fourth partner started the business at the beginning of the 2020 COVID-19 pandemic. They wanted to use the same materials used in inflatable paddleboards to create affordable and durable truck accessories. All three of the entrepreneurs have extensive experience with outdoor brands.
Check out other Shark Tank Season 14 Episodes.
About Flated
| Category | Details |
| Business Name | Flated |
| Founders | Ken Heove, Monique Keefer, Ryan Guay |
| Industry | Automotive Accessories, Outdoor Gear |
| Product | Inflatable truck toppers and accessories |
| Deal Status | Deal secured with Daymond |
| Investment Asked | $350,000 for 5% equity |
| Deal Outcome | $350,000 for an 8% royalty until paid back, then 5% in perpetuity |
| Valuation | $7 million (as of July 2024) |
Flated Shark Tank Pitch
Ken, Monique, and Ryan enter the Shark Tank seeking $350,000 for 5% of their company. They tell the Sharks that the contents of their backpack can hold all their gear for their next road trip. Traditional carriers are a good option, but what do you do with them once the trip is over.
Next, they introduce Flated, the first rigid air carrier, topper, and deck. They maximize storage potential but minimize how you store the accessories when not in use. They stand toe to toe with metal, plastic, and fiberglass toppers and install with no tools. The products are also patent-pending.
The Sharks examine their samples, and Lori asks what the weave in the middle is. Ryan says that’s the drop stitch that essentially makes it a panel. Lori deflates hers easily. Robert asks if it’s their technology, and Ryan says they may have seen it in inflatable water sports products. Ryan says their patent uses drop-stitch inflatable technology for usable space in automobiles.
Ryan gives their backstory. In 2009, the three of them worked at a premier paddleboard company. They were making inflatable paddleboards, and the rest of the industry mocked them. Now, 90% of the paddleboard market is inflatable. The landed cost on the topper is $740, and it sells for $1800. The toppers account for 80% of sales. A fiberglass topper would run $3500 and up. Flated toppers can be shipped anywhere in the country too.
Year-to-date (summer 2022) sales are $277,000, and they’re projecting $600,000 in sales for the year. They also have purchase orders from a national retailer. Kevin questions the valuation, and Daymond asks if they’ve raised any money. They raised $500,000 and put in $200 each of their own money. Ryan works the business full time, Monique works a job three-quarters of her time, and Ken works in Vail as a bellman.
What Makes Flated Unique?
The secret sauce for all their products is that they inflate and deflate easily for storage and use. The Air Topper is for people who want a covered space over their pickup truck bed but don’t want a permanent cap.
- Their air carrier is a rooftop “locker” like a Thule rack, but it is inflatable.
- The Air Deck is an inflatable mattress that allows for storage under it.
- All products, when deflated, fit into a small duffle bag for easy transport and storage.
Pricing varies depending on the product. For instance, the Air Topper is $1899 for a standard-sized pickup bed comparable to a hard cap. The Air carrier is $629, similar to quality hard roof-top carriers. The Air Deck, at $549, is pricier than other pickup truck air mattresses. They currently sell from their website, REI.com, and various auto after-market specialty retailers.
Did Flated Get a Deal on Shark Tank?
The team of three entrepreneurs has a strong background in Outdoor Apparel Brands. They want Shark’s help gaining broader distribution.
- Lori doesn’t like the valuation, and she goes out.
- Kevin thinks they’re worth a million bucks. He cautions them about pricing themselves out of an investment; he’s out.
- Mark says it’s a “touch-to-trust” product, which makes “hockey stick” sales growth difficult; he’s out.
- Robert loves the product, but he doesn’t think they’re grinding it out. He’s out.
- Daymond offers $350,000 for 8% of every unit sold until he recoups his money, at which point the royalty goes to 5%. Mark and Kevin defend that offer.
- Ryan counters with 7% until Daymond recoups his money, the 4% in perpetuity. Daymond declines.
After a brief conference, they accept Daymond’s offer.
What Happened to Flated After Shark Tank?
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The first re-run of this episode in June 2023 is just three months after the original air date. At that time, there was no hard evidence that this deal had closed. On the night of the original airing, Daymond Tweeted,
Shout out to my newest
@ABCSharkTank partner @getflated! True Shark Tank fans also probably noticed the different types of deal structures we negotiated here. If there’s one thing I know in business, it’s licensing, and I’m looking forward to seeing how the Flated team grows.
They took Mark’s advice and are doing more “touch to trust” events. The 4th-generation air topper was introduced in May 2023. The products are available at All American Truck and SUV Accessory Centers nationwide and many independent dealers.
As of July 2023, the company indicated that it had closed the deal with Daymond. Licensing deals are sure to be in the future. At this time, it has a $7 million valuation. By July 2024, they added an inflatable picnic table with chairs to the line! Monthly revenue at this time is over $750,000 – that’s $9 million a year.
The estimated net worth of Flated is between $7 million and $10 million, as of 2025.
The Shark Tank Blog will follow up on Flated & Ken Heove, Monique Keefer, and Ryan Guay as more details become available.
Where Can You Buy It?
You can buy Flated products on their official website. Check out their social media for more updates: Facebook and Twitter.
Quick Summary
- Flated makes inflatable truck toppers and accessories.
- The company is owned by three entrepreneurs, Ken Heove, Monique Keefer, and Ryan Guay.
- They locked a deal with Shark Daymond.
Also read Flated Truck Bed Covers for more insights and in-depth analysis of the brand.
Curious to know about other businesses featured in this episode? Check their business updates!
