EVP Shark Tank Update
Since appearing on Shark Tank, the entrepreneurs behind EVP Shark Tank Update have seen great strides forward. Their company has experienced an explosion of popularity and have expanded their product offering significantly – now providing products designed to protect cars, powersport vehicles, outdoor furniture and other valuables during floods and other severe weather events.
Matthew Harris and Kenny Lerner began work on their idea in 2013, inspired by a dream their father had of creating a device to protect cars during hurricanes and floods. Through tireless dedication and hard work they were eventually able to develop an operable prototype with all necessary patents secured; their product became known as Extreme Vehicle Protection or EVP.
EVP is an inflatable bag designed to protect a car from rising tide and floodwaters. Able to hold up to 24 to 36 inches of water, EVP bags can easily be driven into; indeed its founders demonstrated this when Robert Herjavec drove into it during their pitch on Shark Tank!
At first, the Sharks were initially skeptical, but decided to let Matthew and Kenny present their business proposal. Matthew and Kenny explained they wanted $50k for 20% ownership in exchange for having access to money for development and marketing their product. They hoped to secure an agreement so they could use that capital towards building and promoting it further.
Robert Herjavec was highly impressed by the EVP and offered to invest. He found particular appeal in selling it to car owners living in areas prone to flooding and hurricanes; additionally, its bag could also be used for storage of furniture or outdoor equipment.
Matthew and Kenny were unsuccessful in striking a deal with any of the Sharks; however, Daymond John made an investment of $50,000 for 33.3% of their company in exchange for 33.3% ownership. With these funds in hand, Matthew and Kenny can further develop their product for marketing to customers living in hurricane-prone regions.
Extreme Vehicle Protection’s appearance on Shark Tank resulted in increased sales and interest for their product, leading them to launch several new product lines such as windshield hail protection covers and equipment storage bags. Furthermore, Extreme has expanded into partner companies like hurricane preparedness service providers and body shops where their product can now be purchased directly.
Socially, they have started an initiative urging users to post photos of their cars inside EVP bags on social media platforms like Instagram. This campaign has helped generate much-needed exposure for their product while expanding company’s visibility online – leading to high levels of website traffic as well as articles posted by popular publications such as Buzzfeed which has created consumer interest spikes.