In episode 4 of Shark Tank's season 14, entrepreneur Winston Mok stepped into the Tank with high hopes for his smart air filtration system, Woosh. Armed with a compelling pitch and a request for $500,000 in exchange for 10% equity, Mok faced the notorious panel of investors.
Despite showing promise and catching Mark Cuban's interest, the tech billionaire ultimately passed on the deal. His reasoning was crystal clear:
"I like the product, I like you, I like the goal, I like the mission. Right. The problem is this is hard to sell. You're going to have to spend a boatload of money on marketing. Even if you partner with the big companies, even if they use all outlets, it's still going to be a hard sale. And so for those reasons, I'm out."
While Mok did leave Shark Tank with an offer from Kevin O'Leary that day, the story didn't end there. What followed was a remarkable journey of partnerships and growth that proved sometimes rejection can lead to unexpected success.
What happened with Woosh on Shark Tank?
Woosh wasn't just another air filter. Mok's creation was a sophisticated system that integrated with home thermostats to continuously monitor air quality. The permanent filter frame, priced at $99, worked with $20 replacement units.
The system's standout feature was its ability to send notifications when filters needed changing and provide real-time air quality updates through a mobile app.
When Mok entered the Shark Tank, he had an interesting story to tell. While the company hadn't generated any revenue, it had successfully raised $62,817 through Kickstarter. Drawing from his experience as a Senior Product Manager at Google, Mok explained how Woosh could integrate with popular smart home systems like Nest and Ecobee thermostats.
Each Shark had their concerns about the business. Robert Herjavec questioned whether consumers needed a smart filter system, suggesting that traditional filter maintenance was simple enough.
Shark Tank's Daymond John bowed out, citing a lack of connections in the HVAC market. Lori Greiner's focus fell on patent documentation, with unclear areas in intellectual property protection leading to her exit.
Kevin O'Leary saw potential in licensing opportunities. He offered $500,000 for 12.5% equity plus a perpetual 50-cent royalty per unit. When Mok hesitated, O'Leary adjusted to 15% equity, which Mok accepted on the show.
Woosh’s success post-Shark Tank
While the O'Leary deal didn't materialize after due diligence, Woosh's story took an unexpected turn for the better. By December 2023, the company had secured a partnership with 3M for filtration technology and joined forces with Copeland's Sensi to enhance smart thermostat features.
The numbers tell an impressive story of growth. July 2023 saw the company secure $2.27 million in early-stage venture capital funding. From zero sales during their Tank appearance, Woosh grew to achieve annual sales of $1.3 million.
The company's valuation reached $6 million, proving that sometimes the best deals are the ones that don't happen.
Despite Cuban's concerns about marketing challenges, Woosh found its path to success through strategic partnerships and technological innovation. The journey from a Kickstarter campaign to a multi-million dollar enterprise showcases how even a "hard to sell" product can find its market with the right approach and persistence.
New episodes of Shark Tank air on the ABC network.
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