ABC
At this point in the history of ABC’s hit reality series «Shark Tank,» the only certainty from one episode to the next is that viewers can expect to see a colorful slate of would-be entrepreneurs lobbying cash-rich investors like Daymond John, Kevin O’Leary, and soon-to-be ex-«Shark Tank» panelist Mark Cuban to part ways with a few Benjamins in exchange for a potentially lucrative piece of their company. Not surprisingly, the products and services being pitched are as varied as the persons who step into the «Shark Tank» studio to pitch them, and tend to range between the wildly intricate to the astonishingly simple.
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The product pitched by the purveyors of Extreme Vehicle Protection (EVP) certainly fits the latter category. If you missed the episode, co-founders Matthew Harris and Kenny Learner tempt the Sharks with a genuinely unique way to protect your car from extreme weather events — one that O’Leary sheepishly calls, «a Ziploc baggie for your car.»
Indeed, the EVP bag is essentially a large, weatherproof bag designed to protect your car from extreme weather and flooding. All you do is drive right inside, zip the EVP up, and the potential for water damage should be seriously diminished. In any case, Harris and Learner were confident that their EVP bags could become big sellers with extreme weather events on the rise worldwide. The only question was whether the Sharks would bite. Here’s what became of EVP Flood Protection Bags after their «Shark Tank» pitch.
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What happend to EVP on Shark Tank?
ABC
A solid product and a dash of bravado are typically not enough to convince the «Shark Tank» panelists to pony up and back a business. Even a product like Larq Water Bottles that has already proven its merit on the market might struggle in closing a suitable deal. Largely unproven products like the Extreme Vehicle Protection bags, understandably, find it a bit harder to close. But one factor that looked to be working in Matthew Harris’ and Kenny Learner’s favor during their pitch is that they weren’t looking for major investment money, seeking $50,000 for a 20% stake in EVP.
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Despite the seemingly low-ball ask, many of the «Shark Tank» panelists are not interested in backing EVP with their own money. Mark Cuban is the first panelist to tap out, claiming he thinks EVP might be a good business, before stating that doesn’t necessarily make it an investment-worthy growth opportunity. Lori Greiner is next to bow out of the bidding, noting that she is not a car person, and doesn’t like the product’s packaging. As for the series’ resident «car guy,» Robert Herjavec is also a hard pass on EVP.
That leaves Kevin O’Leary and Daymond John circling the investment waters, with both Sharks making an offer to EVP. O’Leary’s is tempting, but potentially problematic, as he seeks a $30 kickback for each bag sold over a fixed period of time. John, on the other hand, offers a more legit partnership, agreeing to front the $50k for a 33.3% stake. Partnership ultimately proves the preferable avenue for Harris and Learner, who close the deal with John.
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What happened to EVP after Shark Tank?
ABC
In the end, New York native Kenny Learner also admits to being happy about closing a deal with fellow Brooklynite Daymond John. Whatever the case, after, ahem, zipping up the deal with John, Extreme Vehicle Protection walked out of the studio with both a desirable partner and the $50,000 needed to ramp up sales and production. However, as of this writing, it is not clear whether or not EVP’s «Shark Tank» deal actually closed, with studies showing that many deals made on the show change or just fall apart after the fact.
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While it’s unclear if John is still in business with EVP, almost a decade after the company got its prime time close up, it appears Learner and Harris were able to leverage the profile boost provided by «Shark Tank» into a functional business model. The company’s cause was bolstered not long after that 2016 «Shark Tank» appearance, when Buzzfeed listed EVP on its list of the best products from the series to date. At one point in time, Learner and Harris were even selling their flood protection bags through Lowe’s and Amazon, though the product is currently listed as no longer available on both sites. Not to mention, the Amazon customer reviews are mixed at best.
EVP Flood Protection bags are, however, still available to purchase in various sizes through the Extreme Vehicle Protection website. Per the EVP online shop, it appears the company has also branched out into other product lines. This includes moisture absorbing desiccant packets, and the cleverly designed Hail Mary Windshield Cover, which offers protection from hail, winter weather buildup, and other falling debris.
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What’s next for EVP Flood Protection bags?
Though things appeared to be going well for Extreme Vehicle Protection bags right out of the gate after their «Shark Tank» appearance, it is tough to tell what state the company is actually in these days. It is, perhaps, telling that Matthew Harris and Kenny Learner are no longer selling their products through major retailers like Lowe’s and Amazon. Likewise, it would appear that the company has gone quiet on social media channels as well, with EVP’s last Facebook update coming in March 2022.
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Those factors may well foretell a fairly grim future for the «Shark Tank» alums. But with product still being sold through their web store, and the brand developing intriguing new offerings like the Hail Mary Windshield Cover, there may be hope that Learner and the EVP team are still padding their bank accounts with their «Shark Tank» approved product. Even if, it seems more likely that the company might be in need of another round of investor funding to get back on track.