Founders of Firefly Recovery on Shark Tank Season 16- image source @sharktankabc
While regular exercise is vital for a healthy lifestyle, the importance of recovery is often overlooked. The entrepreneurs of Firefly Recovery highlight its importance on Shark Tank Season 16, saying that many athletes pay close attention to it.
Entrepreneurs Anthony Kjenstad and Lauren Campbell claim that their product is better suited for athletes than other options available in the market. They seek $500,000 for 2.5% of the company.
Will the sharks help them in their venture, or will they have to “recover” from rejection?
About Firefly Recovery
| Category | Details |
| Founder (Plural if multiple) | Anthony Kjenstad |
| Product Type | Wearable recovery device |
| Funding (Pre-Shark Tank) | $10 million |
| Investment Asked | $500,000 |
| Equity Offered | 2.5% |
What Happened on the Shark Tank Episode?
The entrepreneurs bring with them their loyal customer, a five-time Olympic champion and three-time gold medalist, Kerri Walsh Jennings. She waves at the Sharks, and then the team talks about Firefly Recovery. She lifts her leg and shows the Firefly Recovery device on her calf as Anthony explains how it works.
Shark Rashaun Williams shows interest in Firefly Recovery’s products, saying he uses such products himself because he is getting older. He further asks the duo if their product replaces the need to wear compression leg sleeves that require sitting with legs propped up. Anthony confirms that with his product, users can move around easily while wearing it.
Daymond asks Kerri about her experience with Firefly. The three-time gold medalist athlete shares that she recently retired after 20 years in the sport, and while training, she used the product. It helped her legs feel relaxed a lot.
Shark Daymond inquires if the product is only for legs. Anthony explains that 70% of our blood is in our lower extremities, and the product works on the nervous system to pump it back to the heart faster with its onPulse technology.
At one point in the discussion, Kevin and Lori disagree, and Lori calls him rude.
In 2022, Firefly Recovery conducted an athlete-led seed round and raised $10 million with professional athletes, friends, and family.
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What Makes Firefly Recovery Unique?
The Firefly gently stimulates the peroneal nerve in the leg, causing the foot to flutter—or as they call it, the ‘Firefly Flutter.’ This flutter action acts as a natural pump, increasing systemic blood flow, which speeds up recovery and reduces soreness.
- The product is designed to fit into the active lifestyles of today’s athletes.
- It is easy to use, portable, and serves as a mobile recovery solution.
- Unlike bulkier recovery devices, Firefly Recovery is compact, band-like, and provides up to 30 hours of use.
- They are especially popular among elite athletes and sports teams.
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Did Firefly Recovery Get a Deal on Shark Tank?
Kevin begins by asking the entrepreneurs about their valuation of their company, which is $20 million. Lauren tells them that lifetime sales are $7.5 million. Rashaun says, “That’s not gonna get it.” She adds that in the last 12 months, sales were $4 million, and they are projecting $5.5 million.
Mark asks if customers get frustrated because they have to buy the product again and again since the battery only lasts for 30 hours in total. Anthony replies, “They are not unhappy with the product.”
- Kevin goes “out” because he feels the valuation is too high; Daymond does, too.
- Mark shares his opinion, saying that at this price, it costs $48 a month. While he is saying, “It is insane for 99.99% of the…,” he gets interrupted by Lori. She says, “What would you pay to feel better?” Mark goes out of making a deal.
- Lori says she sees the product in the market. She and Rashaun offer a deal together—$500,000 for 5% of the company, plus a royalty of $1.50 until they get their money back, after which it becomes 50 cents in perpetuity.
- Lauren smartly counters, saying she was not expecting a royalty and proposes 3.5% equity for $500,000.
Both parties discuss and finally agree on a deal for $500,000 in exchange for 5% equity.
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What Happened to Firefly Recovery After Shark Tank?
Many verified users have commented on Shark Tank’s post about Firefly Recovery, along with many other netizens. According to Google Trends, Firefly has been searched numerous times in the previous few hours since their episode aired.
Where Can You Buy It?
Firefly Recovery devices are available for purchase on the brand’s official website. Customers can explore ongoing offers, discounts, and product updates by following Firefly Recovery on social media.
Quick Summary
- Firefly Recovery is a wearable recovery device that reduces muscle soreness by speeding up blood flow.
- Endorsed by elite athletes, Firefly Recovery has gained traction among professional sports teams and fitness enthusiasts.
- On Shark Tank, Firefly Recovery successfully secured a deal with Lori Greiner and Rashaun Williams, exchanging $500,000 for 5% equity.
