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If you are a Shark Tank pro-watcher, you will remember the iconic Shark Tank product we are about to talk about. PolarPro was pitched by Jeff Overall, and it became an essential requirement for all GoPro users.
Do you want to know what reaction this product received from the eminent Sharks in Season 7? Well, then you have dropped in on the perfect article. This article is dedicated to PolarPro and how SharkTank helped this GoPro accessory company reach the heights at which it is standing now.
In the article, we will talk about the initial aim of the start-up, a bit about the founder, what it offered the Sharks, and what they settled on. Finally, we will also talk about the final valuation of the company: before SharkTank and after SharkTank. So let’s get started!
PolarPro Key Highlight
- PolarPro is a company that designs specialized camera equipment for videographers, content creators and photographers founded by Jeff Overall.
- After SharkTank, the deal by Mark and Robert never ended and PolarPro has seen great heights. They started expanding their range of products by 2016.
- Polar Pro has created a significant impact in the world of Photography and thus has a high net worth of more than $15 Million as of 2024.
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What is PolarPro?
PolarPro is a company that designs specialized camera equipment for videographers, content creators and photographers so that they can film smoothly even in rugged outdoor surroundings.
This company wanted to provide a one-stop solution for all outdoor filming issues. The most famous camera equipment that Jeff Overall talked about in Shark Tank Season 7 Episode 8 back in 2015 was the battery-powered selfie stick, a charging case for multiple devices, and filters for GoPro and drones.
The filters were perfect for shooting a landscape scene. The main headquarters of PolarPro are situated in Costa Mesa, California, USA. The main competitors of this company are, arguably, few. They are BlairTech, Audeze, Texas TR, and Compovine Technologies.
Who Is The Founder Of PolarPro?
The founder of PolarPro is none other than Jeff Overall. For him, PolarPro was first a passion project.
He made the filters and equipment for himself because he was frustrated by the low quality of the GoPro videos of his ski runs, and he was trying to find a way to engineer such equipment that would make the process of capturing epic content much easier.
Jeff was so passionate that he used money from his student loan (he was a student in University of California, Santa Barbara) to make PolarPro equipment. The cost of product design for Jeff as a student was very high, and the profits too were marginal.
However, he kept striving, and on SharkTank, he boasted about the high quality of his equipment, be it the selfie stick or the filters made of 99.9% pure quartz from Germany, which makes the filters a gem and a must-have for all photography enthusiasts out there.
Jeff Overall is also currently the CEO of PolarPro. His pitch for the Sharks can be described as very energetic, professional, energetic, and confident. He knew what he wanted from the Sharks and did not hesitate to present his deal.
| Founder | Jeff Overall |
| Business | GoPro filters and accessories |
| Ask | $500,000 for 10% equity |
| Result | $1 million for 20% equity |
PolarPro offering for the investor?
Jeff Overall, as we said, the founder and CEO of PolarPro, pitched his PolarPro products in front of the sharks, which made all the sharks alert. PolarPro asked for $500,000 for 10% of the company’s equity.
In layman’s terms, Jeff Overall asked the Sharks to invest $500,000 in PolarPro for ownership of 10% of the company. This offer was met with very positive reactions from all the Sharks except Kevin O’Leary, who, despite such an impressive pitch, decided to back out.
Did PolarPro get a deal on shark tank?
The PolarPro pitch left most of the sharks clamoring for the offer, except for Kevin O’Leary, who, through the electronic business, was too overcrowded for him, and he could not invest in the product despite the near-perfect pitch.
Other sharks like Mark Cuban and Lori Greiner grasped the exact offer made by Jeff Overall, while Daymond John offered to invest $500,000 but with 15% equity.
Robert Herjavec finally clubbed with Mark Cuban and made a deal of a whopping $1 million for 20% equity, and Jeff Overall gracefully accepted the deal. Thus, Jeff not only got a deal on SharkTank, but the deal he got was double what he wanted!
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| Shark | Robert Herjavec, Mark Cuban |
| Company | Smart phone & Camera Accessories |
| Status | In business |
| Season | Season 7 episode 8 |
| Website | Click here |
How PolarPro started & how it did?
PolarPro started when photography enthusiast college student Jeff Overall felt the need for better camera equipment to take better landscape videos and photos. His need led to the creation of PolarPro products, which he initially made for himself but later realized had the potential to become a full-fledged start-up.
Initially he stuck a DSLR polarized lens on his Go-Pro and saw a significant improvement in the video quality.
So he used up his student loans (which were almost $2000), which he got for his college studies, to cover the cost of production and design of the polarized filters used in GoPros and drones.
Throughout the process he was helped by his friend Austin Butler. Soon, he was able to set up more than 1200 retail stores and a booming online business. His company became the third-largest drone-related company.
The growth of PolarPro shocked all the sharks and made them eager to invest in the company and its products.
What happened to PolarPro Before Shark Tank?
PolarPro came into SharkTank with an aim to earn $5 Million in sales and came with product margins of about 300%.
Only $300,000 million was to be the profit margin of 2015 as the rest of the money was to be used in research and development of the product, to keep the company fresh and innovative.
Jeff Overall had thought that within a few years the company would be $40-$50 Million due to the profitable deals with major retailers like Best Buy and REI.
Before shark tank company fact and figure:
In 2014, the company’s revenue was said to be $2.8 Million. The company had projected to earn $5.6 Million prior to coming on SharkTank.
What happened to PolarPro after Shark tank?
After SharkTank, the deal by Mark and Robert never ended and PolarPro has seen great heights. They started expanding their range of products by 2016. Many magazines covered the company and congratulated for bagging such a great deal on SharkTank.
This helped in promoting the brand and thus increasing sales. After the SharkTank appearance it is said more than 45,000 customers checked out the PolarPro website.
Recent company fact and figure
In 2021 the company revenue will increase to $40 Million. Most of the products have 5 star ratings and annually on an average the company earns about $4.7 Million.
Why did PolarPro go out of business?
PolarPro never went out of business! It is still growing and thriving. Thanks to the popularity it received from Shark Tank, this company is now a common name for all photographers, videographers, and content creators out there.
There are now several companies that are trying to compete with PolarPro, but still, an original is always an original!
Are there any products like PolarPro in the market now?
Yes, there are many PolarPro products available in online stores as well as retail stores. As mentioned, PolarPro has more than 1200 stores. The most famous products are the mounts for cameras called the ‘Polar Pole’, filters for drones and GoPro, microphones, charging cases, tripods, cameras, and so much more.
All products are of high quality and made to be tactile enough so that they are suitable for outdoor photos and videos. They also provide international shipping.
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How much is PolarPro’s net worth?
Polar Pro had a whopping transformation after SharkTank which has affected his Net Worth in a very positive way.
There are more than 30 products now available on the PolarPro official website. Polar Pro has created a significant impact in the world of Photography and thus has a high net worth of more than $15 Million as of 2024.
After shark Tank valuation
By 2019 the net worth of PolarPro had gone up to $10 Million. By 2022 the net worth of founder and CEO Jeff Overall reached up to $22 Million. In 2023, according to the estimates, the company reached its all time high networth of $15 Million.
Before shark Tank valuation
Before Shark Tank though Jeff Overall had solid sales but the profit margin seemed quite low for PolarPro. He started the company with zero debt and earned about $5 Million in four years after starting PolarPro and then reinvested all the money back into the business.
Networth of the company in 2014 was just $2.8 Million. Surely PolarPro has come a long way from where it started.
FAQ About PolarPro
1. What is PolarPro?
The founder of PolarPro is none other than Jeff Overall.
2. Who is the founder of PolarPro?
PolarPro is a company that designs specialized camera equipment for videographers, content creators and photographers.
3. What is the net worth of PolarPro?
In 2023, according to the estimates, the company reached its all time high networth of $15 Million.
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