Highlights
- Myo Storm’s flagship product, The Meteor, combines heat, vibration, and pressure for deep tissue muscle recovery, backed by scientific research.
- Despite pricing concerns from the Sharks, the team secured a deal with Lori Greiner for $150,000 and 5% equity, along with a royalty arrangement.
- Myo Storm’s business grew post-Shark Tank, launching additional products, including a Meteor Mini and raising over $287,000 on Kickstarter.
Overview
| Category | Details |
|---|---|
| Name | Myo Storm |
| Founders | Jonothan DiPeri, Shaquille Walker, Jared Ward |
| Industry | Health & Wellness, Muscle Recovery Products |
| Product | The Meteor – Heated, Vibrating Massage Ball |
| Funding Sought | $150,000 |
| Investment Ask | $150,000 |
| Equity Offered | 10% |
| Valuation | $1.5 million |
Jonothan DiPeri, Shaquille Walker and Jared Ward hope to impress the Sharks with Myo Storm, their pain and muscle stiffness recovery ball, in Shark Tank episode 1103. The only product the company currently produces is The Meteor, a heated, vibrating, massage ball/roller for deep tissue muscle massage. The trio, along with the rest of their team, got the company started with a successful Kickstarter campaign that raised $65,461 in the fall of 2018. They managed to deliver a finished product by the early spring of 2019.
The Meteor takes vibration, heat and pressure and puts it into one package. Myo Storm recognized the many different massage products out there and put the best of them into their ball. The product is backed by science, too. Before they developed it, they worked with prominent PhD’s in the fields of exercise science and mechanical engineering to study how vibration and heat affect muscle tissue. When turned on, the combination of heat, vibration and pressure from rolling the ball on tight muscles helps reduce pain and stiffness.
Myo Storm has several athletes promoting the product from track and field stars to body builders. They also have several Universities that use The Meteor in their training and therapeutic regimen. These guys are serious about getting their product to market. They first conceptualized the product in 2017 and had a prototype within the year. After that, they had Meteors in customers hands just one year later. There are other products “in the works” too. They likely want a Shark’s help scaling manufacturing. Will a Shark want to play with this ball?
Company Information
Video
Posts about MYO Storm on Shark Tank Blog
Meteor Massage Ball by MyoStorm
MYO Storm Shark Tank Recap
Jonothan, Shaquille and Jared enter seeking %150,000 for 10% of their business. They explain their product and hand out samples. The Sharks are impressed with the product and the marketing strategy, but they want to know how this is different from other products.
The Sharks love the margins, but think the $160 price tag is too high. Lori thinks they should lower the price to $99 and try to reduce production costs to maintain their margins. Mark, Matt, Kevin and Lori all make offers, but they ultimately chose Lori’s deal: $150,000 for 5% plus a one dollar per unit royalty until she recoups $500,000.
MYO Storm Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. On the night of the original air date, the company completely sold out of all their inventory. They didn’t catch up with back orders until February, 2020 (the show aired in October,2019). It doesn’t appear that this deal closed as the business is not listed on Lori’s website. The products are still available on Amazon.
In June, 2021, they launched a Kickstarter to launch the Meteor Mini, a smaller and less expensive version of the original Meteor. They also introduced some new accessories: 3-in-1 Recovery Roller (transforms the Meteor into a foam roller), a Dual Layer Recovery mat and a Massage and Stretch strap. The campaign more than doubled its goal of $50,000 as of November, 2021. Funding on that campaign was suspended for some reason by KickStarter, but they launched a second campaign that raised $287,056 in August, 2021. The company began shipping the product in June, 2022 due to supply chain issues in China due to Covid-19. As of August, 2022, annual revenue is $1.8 million.
