Highlights
- Moshe Weiss seeks $54,000 for 26% equity in SoundBender, a magnetic iPad amplifier that redirects and amplifies sound, aiming to improve the user experience without using additional power.
- Daymond John offers $54,000 for 40% equity, contingent on securing a deal with Walgreens, which Moshe accepts, valuing Daymond’s marketing expertise.
- Despite the passing of Moshe Weiss in 2016, SoundBender continues to be sold on Amazon, with annual revenue between $500,000 and $800,000 as of April 2024.
Overview
| Category | Details |
|---|---|
| Name | SoundBender |
| Founder | Moshe Weiss |
| Industry | Consumer Electronics |
| Product | Magnetic iPad amplifier |
| Funding | Seeking $54,000 |
| Investment Ask | $54,000 |
| Equity Offered | 26% |
| Valuation | $207,692 |
SoundBender is the latest of many Kickstarter successes to find its way into the Shark Tank in season 4. Entrepreneur and Sound Bender inventor Moshe Weiss invented the magnetic iPad amplifier after he kept having to cup his hands around his iPad speaker. He got the business off the ground with a little over $10K in Kickstarter funding. He originally wanted to raise $4,500 to take the product from prototype to production but he blew that number out and now you can purchase the iPad amplifiers on Amazon and on Weiss’ Simply Amazinc website. The SoundBender is essentially a little plastic clip that attaches to an iPad with the same kind of magnets. Since iPad speakers face backwards, a lot of the sound projects away from the user. With a SoundBender attached, the sound is re-directed and amplified. It fits with most iPad covers, can be used to put the iPad to sleep, and it uses no power either.
SoundBender Shark Tank Recap
Moshe came to the Shark Tank very well prepared. He was seeking $54k for 26% of the business. Moshe revealed he sold 7,000 units online over the past six months t $12.99 apiece. He also has some interest from Walgreens. Mr. Wonderful, in typical fashion, wants to license the SoundBender and mass produce them overseas; Moshe didn’t think that wash kosher, so Mr. Wonderful goes out. Mark likes the business, but doesn’t think it has potential to grow too big, so he’s out. Barbara wants a royalty arrangement, but once again, the rabbi denies a shark; Barbara is out.
Daymond likes the business and offers $54K for 40% of the business, contingent upon making a deal with Walgreens. Robert thinks he’ll have to spend too much time on the business, but he makes the same offer as Daymond, without the Walgreens contingency. Moshe weighs his options and chooses Daymond – largely due to his marketing savvy.
SoundBender Shark Tank Update
Moshe and Daymond continue to work together. In a post show interview with Moshe Wiess, he told Shark Tank Blog that Daymond is working on getting the SoundBender on “one of the shopping channels.” He also has SoundBenders for the iPad mini and large screen TV’s in the works. Moshe is pouring profits back into the company and has injection molds capable of producing 8 millions units. It is still is made in the USA in Vadnais Heights, Minnesota, so hopefully the product will succeed and bolster the economy in Wiess’ neck of the woods.
Soundbender gets an update segment on air in episode 508 in season 5. Rabbi Moshe Wiess licensed the product to Wish Factory which gave him a deal that offers a minimum guarantee of $2 million in sales per year.
Sadly, Rabbi Wiess passed away at the very young age of 41 on August 29, 2016. The company website went down with a “we’ll be back soon” message shortly after his untimely death.
As of December, 2021, the website is still up but the social media hasn’t been updated since 2014. The products are still readily available on Amazon, so someone must still be making them. As of October, 2023, the website is back up and products are still for sale. In April, 2024, annual revenue is $500,000-$800,000.
Posts about SoundBender on Shark Tank Blog
SoundBender Information
Buy SoundBender
I thought Moshe Weiss and Daymond would like to know that Simply Amazinc has been non-responsive after I mailed (returned) two Soundbenders July 10, 2013. One would not stay attached to my Ipad (the 4th generation) after flipping the magnet. The other one had not been opened. I contacted them via e-mail about the problem, stating I planned to return them. And was the St. Paul Address the correct address. “St. Paul Address is fine” is the only correspondence I received from them. No information on refunding my $25.98 for the two Soundbenders. Numerous e-mails have been sent checking on status, no replies. While researching I saw thus forum along with Daymond’s website. Thank you for your help.