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In a pivotal moment on Shark Tank, Robert Herjavec and Kevin O'Leary decided to invest in ZipString, a toy designed to push string in creative and dynamic ways. Stephen Fazio and Austin Hillam, the creators of ZipString, entered in episode 9 of season 14 of the show with a pitch for a $100,000 investment in exchange for 10% equity in their business.
In an Instagram post on January 30, 2025, Herjavec revisited the episode and shared a clip where, in conversation with the entrepreneurs, he remarked,
"There is no rearview mirror in my life. You got to let go. This is the deal in front of you right now."
Robert Herjavec, after evaluating the potential of the product, made an offer of $100,000 for 20% equity, which Kevin O'Leary quickly countered by offering the same amount for 15%. The two Sharks then decided to team up, combining their offers for a joint 20% stake in ZipString, which ultimately led to a deal.
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Robert Herjavec and Kevin O'Leary join forces to back ZipString on Shark Tank
Innovation from the classroom to the market
ZipString’s origins date back to 2021, when Austin Hillam and Stephen Fazio, both university students, began developing the product in Hillam’s basement in Johns Creek, Georgia. The idea stemmed from Fazio’s participation in a physics class, where he saw a desktop version of the string-pushing device.
After creating a working prototype, the two entrepreneurs took to social media to promote their invention. A video showcasing the device went viral, reaching over 20 million views within a single day. As a result, ZipString gained significant attention, prompting Fazio and Hillam to take their project to the next level.
According to Shark Tank Blog, they have sold over 10,000 units in a year. However, due to supply chain issues, they were unable to meet the growing demand. Despite these challenges, their Kickstarter campaign was successful, raising $90,466 to fund the production process.
Securing investment from two Sharks
When Fazio and Hillam pitched ZipString on Shark Tank, they sought an investment of $100,000 in exchange for a 10% equity stake. The Sharks were immediately intrigued by the toy’s potential, and the negotiations quickly escalated.
Robert Herjavec made an initial offer of $100,000 for 20% equity, prompting Kevin O'Leary to counter with an offer of 15%. Robert, undeterred, adjusted his offer to match Kevin's. Kevin O'Leary presented a joint offer to the ZipString entrepreneurs, suggesting that by teaming up with Robert Herjavec, they would bring double the value to the table:
"Robert just thinking here you and me together for 20% you know why because you double your social media follow, you get two sharks and we're a little Sharky together instead of us killing each other we help you double trouble so basically we give you 100,000 for 20% you get two sharks."
This led to a collaborative agreement, with both Sharks combining their offers to share the 20% stake equally, each taking 10%. The deal was finalized when the entrepreneurs agreed to the terms.
ZipString after the deal: Challenges and successes
As per Shark Tank Blog, after securing the deal with Robert and Kevin, ZipString faced several challenges, including backorder issues and competition from counterfeit products. The company had to manage customer frustrations as they worked to fulfill orders. Fazio and Hillam acknowledged this in the aftermath of their Shark Tank appearance.
Despite these setbacks, ZipString saw improvements by mid-2023. They managed to streamline their operations and resolve inventory problems. By July 2023, their business was operating more smoothly, and the company appeared to be on track for continued success.
As of the original air date of the Shark Tank episode, social media views of ZipString’s promotional video had surpassed 200 million, indicating the widespread popularity of the product.
Catch Shark Tank on ABC, Fridays at 8 PM ET, and stream full episodes on Hulu to stay up to date with all the latest business ventures!
