Muscle pain and soreness are joint, especially for athletes and active individuals. Myostorm, a Utah-based startup, has made waves in the wellness industry with its innovative massage device, the Meteor. From its humble beginnings to its impressive Shark Tank appearance and beyond, Myostorm has grown into a company with an estimated net worth of $5 million as of 2024. This comprehensive blog post will explore the company’s journey, its founders, key milestones, and the factors contributing to its remarkable success.
Who is Myostorm?
Myostorm is a wellness technology company founded by Shaquille Walker and Jono DiPeri, two friends from Provo, Utah. The company’s flagship product, the Myostorm Meteor, is a unique massage device that combines heat, vibration, and rolling therapy to help alleviate muscle pain and aid recovery.
Who Is The Founder Of Myostorm?
Shaquille Walker and Jono DiPeri co-founded Myostorm. Shaquille Walker is a former high school track and field star who held the world record for the 800-meter dash. Jono DiPeri, on the other hand, is a mechanical engineer who specializes in studying the impact of vibrations on the human body.
| Founders | Background |
|---|---|
| Shaquille Walker | Former world record holder for 800-meter sprint, athlete |
| Jono DiPeri | Mechanical engineering background, co-founder |
| Jared Ward | Professor and Olympian marathon runner |
How Was The Shark Tank Pitch Touch-Up Cup?
In 2019, Shaquille Walker, Jono DiPeri, and their friend Jared Ward, an Olympic marathon runner, pitched Myostorm on Shark Tank during Season 11. The entrepreneurs asked for $150,000 in exchange for 10% equity in the company. The sharks were impressed by the Meteor’s innovative features, but some were concerned about the $160 price tag.
A bidding war ensued, with Mark Cuban offering $250,000 for 20% equity and Kevin O’Leary offering $150,000 for a 5% stake plus a $1 royalty until $500,000 was repaid. Ultimately, the founders accepted a deal with Lori Greiner for $150,000 in exchange for 5% equity and a $1 per unit royalty until $500,000 was repaid.
| Entrepreneurs | Shaquille Walker, Jared Ward, Jono DiPeri |
|---|---|
| Business | MyoStorm |
| Ask | $150,000 for 10% equity |
| Result | Accepted deal from Lori Greiner: $150,000 for 5% equity and $1/unit royalty until $500,000 repaid |
| Sharks | Lori Greiner, Mark Cuban, Daymond John, Kevin O’Leary, Matt Higgins |
Myostorm Shark Tank Update:
After the successful Shark Tank pitch, Myostorm has continued to thrive. The company implemented Lori Greiner’s suggestion to lower the Meteor’s retail price to $99, which led to a significant boost in sales. Myostorm has also introduced a newer model, the Meteor 2.0, featuring enhanced features like a heart function and USB-C charging. The company has expanded its distribution channels, making the Meteor available on Amazon, Walmart, eBay, and its website.
What Happened To Myostorm After Shark Tank?
Since its Shark Tank appearance, Myostorm has experienced remarkable growth. The company has expanded its product line, introduced new features, and increased its distribution channels. According to an interview with co-founder Jono DiPeri, Myostorm has ten employees and is generating around $150,000 in monthly revenue, or approximately $1.8 million in annual revenue.
Myostorm Net Worth:
As of 2024, Myostorm is estimated to be worth around $5 million. The company’s success can be attributed to the innovative nature of its products, the strong partnership between the founders, and the guidance and investment provided by Lori Greiner after the Shark Tank deal.
| Year | Revenue | Updates |
|---|---|---|
| Founded | 2018 | – |
| 2020 | Estimated $2 million | – |
| 2024 | Estimated $5 million | MyoStorm Meteor 2.0 was introduced, and sales expanded to various platforms |
Myostorm Growth and Operations:
Myostorm has steadily grown since its inception in 2018. After successfully raising funds through a Kickstarter campaign, the company sold over 900 units of the original Meteor. The Shark Tank’s appearance and subsequent deal with Lori Greiner have been instrumental in the company’s expansion. Myostorm now employs ten people and continues to innovate, with the launch of Meteor 2.0 and plans for additional product releases.
Myostorm Marketing and Sales:
Myostorm has employed a multi-pronged approach to marketing and sales. The company has leveraged its Shark Tank appearance to gain widespread media attention and credibility. Additionally, Myostorm has forged partnerships with professional athletes, leveraging their endorsements to reach a wider audience. The company’s products are available through various online channels, including its website, Amazon, Walmart, and eBay, making them accessible to consumers.
Myostorm Social Media Presence:
Myostorm has a solid social media presence, with active accounts on platforms like Facebook, Instagram, and YouTube. The company uses these channels to showcase its products, share user testimonials, and engage with its growing customer base. Myostorm’s social media strategy has played a crucial role in building brand awareness and fostering a loyal community of Meteor enthusiasts.
Myostorm Interesting Facts:
- Shaquille Walker, one of the co-founders, was once the world record holder for the 800-meter dash.
- The Myostorm Meteor was initially priced at $149, but the founders lowered the price to $99 after the Shark Tank deal with Lori Greiner.
- The company’s name, “Myostorm,” is a play on the word “myofascial,” which refers to the connective tissue surrounding and supporting muscles.
What’s Next For Myostorm?
Myostorm has ambitious plans for the future. The company wants to expand its product lineup, potentially introducing new massage devices and complementary wellness products. Additionally, the founders are exploring international expansion to reach a global audience and capitalize on the growing demand for innovative wellness solutions.
Final Words:
Myostorm’s journey from a Kickstarter campaign to a Shark Tank success story and a company worth an estimated $5 million is a testament to the power of innovation, perseverance, and strategic partnerships. The Meteor’s unique combination of heat, vibration, and rolling therapy has resonated with consumers. Myostorm’s ability to adapt and grow has positioned the company for continued success in the years to come.
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