The Players Trunk Shark Tank Update – Shark Tank Season 13
The Players Trunk scores big on Shark Tank Season 13 but turns down a major deal, navigating new opportunities after the show.
The founders of The Players Trunk, Charles Matthews, Hunter Pomerantz, Austin Pomerantz, and Jason Lansing, appeared on Shark Tank Season 13 Episode 24 with their platform that lets college athletes sell their athletic gear. The guys all have sports backgrounds.
Check out other Shark Tank Season 13 Episodes.
About The Players Trunk
| Category | Details |
|---|---|
| Business Name | The Players Trunk |
| Founders | Charles Matthews, Hunter Pomerantz, Austin Pomerantz, Jason Lansing |
| Industry | Sports Memorabilia |
| Product | A platform for selling college athletes’ gear and memorabilia |
| Funding | Raised $1.2 million at a $10 million valuation |
| Investment Asked | $650,000 for 5% equity |
| Deal Status | No Deal |
| Valuation | $13 million (at the time of the Shark Tank pitch) |
Charles was a basketball player at the University of Michigan, and he won a national championship in 2018. Hunter was the manager of the Syracuse basketball team. Auston, who also went to Michigan, is Hunter’s brother and a sports management major. Jason went to Michigan as well and managed their men’s basketball team. Another partner, Zavier Simpson, who doesn’t appear in the Tank, is the winningest basketball player at the University of Michigan.
The guys all know that at the end of a college athlete’s career, they have literally piles of uniforms, hats, t-shirts, sneakers, and so much more.
When Charles and Zavier approached Jason and Austin and asked them to help them sell their old gear on Instagram, a lightbulb went on. They realized a centralized platform for selling the old gear would be more professional than athletes selling gear on Instagram willy-nilly.
In addition to basketball gear, they currently sell gear for athletes who play soccer, track and field, baseball, lacrosse, and girls’ volleyball.
It works by going to the site and picking a “trunk.” Trunks are groups of memorabilia grouped by school. Simply browse by school (or by athlete), pick what you like, and buy it. They also hold auctions for merchandise.
Michigan State’s Cassius Winston sold a final-four game-worn jersey for $5000 at auction! In addition to gear, they sell autographed photos, trading cards, and original merchandise. Athletes sign up on the website, and one of the guys gets back to them to set things up.
The Players Trunk handles photographing the gear, shipping, and all transactional issues. They make money by taking a percentage of the sale. Since they’ve been working out of the Pomerantz family garage, they likely want money for a “real” facility.
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Posts about The Players Trunk on Shark Tank Blog
Players Trunk – Memorabilia Marketplace
The Players Trunk Shark Tank Recap
Charles, Hunter, Austin, and Jason enter the Shark Tank seeking $650,000 for 5% of their company. Charles talks about monetizing his personal brand. They explain how the process works. They have over 800 athletes on their platform. Mark Cuban explains the new NCAA rule allowing athletes to use their names, images, and likenesses.
The guys say their relationships are what make them special. They also have licensing deals with several Universities. The company keeps 20% of the sales for players’ game-worn, team-issued gear and 40% of the things they make, like hoodies and tees. In a little over a year, they had $1.3 million in sales and made $200,000 on those sales.
Did The Players Trunk Get a Deal on Shark Tank?
Kevin O’Leary compares them to a public company, which is only worth $4 million. They raised a $1.2 million round a few months ago with a “respected venture capital firm in Chicago” at a $10 million valuation. Kevin calls it a stupid deal, and he goes out. Kevin Hart says 5% isn’t enough.
Mark and Kevin team up to offer $650,000 for 30%. Mark pitches hard. Barbara goes out, and then Lori does too. Mark says there is no counteroffer. The guys say the offer isn’t in their best interest, and they decline.
The Players Trunk Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. In the months following the initial air date, the company introduced limited edition playing cards and created a new auction site to auction signed player gear to the highest bidder.
The estimated net worth of The Players Trunk ranges between $10 million and 18 million.
The Shark Tank Blog will follow up on The Players Trunk & Charles Matthews, Hunter Pomerantz, Austin Pomerantz, and Jason Lansing as more details become available.
Where Can You Buy It?
The Players Trunk is only available through their official website, where you can shop game-worn athlete gear, merchandise, autographed collectibles, and fan experiences. Follow them on Instagram, Facebook, and Twitter for product drops, special offers, and behind-the-scenes content.
Quick Summary
- The Players Trunk lets college athletes sell their athletic gear and memorabilia online.
- The founders, with strong sports backgrounds, created the platform after realizing the need for a centralized selling place.
- Despite having $1.3 million in sales and unique university partnerships, they declined an offer from Mark Cuban and Kevin Hart.
Curious to know about other businesses that appeared on Shark Tank Season 13 Episode 24? Check out their business updates!
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